Today’s News 8-5-2025

Arizona land developer Vermaland, LLC unveiled plans for a $33 billion data center industrial park in Pinal County that would become the largest such development in the United States, positioning the Phoenix-Tucson corridor to compete directly with Northern Virginia’s “Data Center Alley” for tech industry investment. The 3,300-acre complex would support up to 3 gigawatts of…»

A grand opening for the battery-producing wing of LG Energy Solution Ltd.’s battery factory in Queen Creek is on the horizon, with hiring underway ahead of a 2026 production goal. “Their manufacturing facility is about 60% complete, and so they anticipate starting production in summer of 2026,” Doreen Cott, Queen Creek’s economic development director, told the Business Journal…»

Phoenix-based Banner Health is making its way through the zoning process for a $400 million medical campus in north Scottsdale. The state’s largest health system filed for a conditional use permit to pave the way for a 640,000-square-foot hospital at the southwest corner of Hayden Road and Loop 101, according to a July 14 filing with the city of Scottsdale. The 300-bed hospital…»

Construction will begin this month on an affordable housing development in southwest Phoenix that eventually will be anchored by a retail center. The first phase of apartments at Broadway Farms at Hurley Station will total 190 units. Colorado-based St. Charles Town Co., the developer, closed on $80 million of financing to build the apartments. They will be rented to residents earning up…»

The multifamily housing market has set a new benchmark for demand, according to CBRE Research. Net absorption—a measure of new leases signed and occupied—climbed 44% year-over-year to 188,200 units, the highest second quarter figure ever recorded. This level is also 44% higher than the average for the same period before the pandemic. This milestone comes after…»