Today’s News 9-9-2025

A new retail and restaurant development, a rehabilitation hospital and a senior living facility are among the notable developments underway in the West Valley. Here is a look at some of the projects that will bring a trendy soda shop, expanded health care options and specialized housing to Glendale, Goodyear and Buckeye. The Shops at the Cardinal: The project is a $20 million retail and restaurant development that will include Swig, a popular soda shop; Señor Taco, an Arizona-based…»

The Phoenix construction market is seeing targeted growth across industrial, retail, healthcare and office improvements, as developers adapt to shifting demand and new tariff pressures, according to LGE Design Build’s newly released Q3 2025 Construction Delivery Outlook. “Phoenix’s construction market remains active, but developers are moving forward with a sharper focus,” said Blake Wells, vice president of preconstruction at LGE Design Build. “With new tariffs and duties…»

After showing early signs of recovery earlier this year, commercial real estate prices have hit a wall, with momentum now reversing in several sectors. The latest data from Trepp paints a picture of a market stuck in neutral, caught between the drag of new tariffs and the potential lift of Federal Reserve rate cuts. According to Trepp’s Q2 2025 Trepp Property Price Index, prices are “largely stalling or even slightly receding” across almost all asset classes. Just three months earlier, signs…»

PNC Financial Services Group, one of the fastest-growing banks in the United States, has reached a deal that is expected to make it the largest bank in Denver and add almost 100 retail branch locations to its footprint. PNC agreed to pay $4.1 billion for FirstBank, a Lakewood, Colorado-based institution that is one of the largest privately held banks in the country. PNC plans to acquire about $26.8 billion of assets, such as loans and investment securities, as well as 95…»

Scottsdale-based Sonora West Development, which has $1 billion in projects under its belt, is working on two new luxury developments in metro Phoenix. Plans call for breaking ground this year for 31 homes within a community called Solace in Carefree, where homes will be built on 1-acre lots. Meanwhile, construction already has begun on the first two homes in another community called Camelback Palms, with two more to start within 90 days. The four homes…»