Paradise Valley
REAL ESTATE
New Townhome Development Planned Near Desert Sky
A new 62-unit townhome development from Zen Investing LLC could soon be coming to the NEC of 81st Avenue and McDowell Road in Phoenix. In its July 1 meeting, Phoenix City Council approved a planned unit development rezoning request for the 4.02-acre site. The project is referred to as the Zen at McDowell Planned Unit Development in the rezoning request and City approval documents and as Zen at Desert Sky in a June pre-application submitted to Phoenix permitting.
Positive signs showing in residential real estate’s challenging market
New listings climbed 15.8% for the first half of 2024 compared to last year, based on the latest data from Phoenix REALTORS. The month-over-month median sales price was up just 1.5%. Days on the Greater Phoenix market dropped over 11% for the year's first half. “It’s still a challenging marketplace...
2 deals see land, building change hands
Two major commercial real estate deals in Tempe have closed in the last few weeks. NAI Horizon represented the buyer in the $1.275 million acquisition of parcels of land totaling 40,973 square that will be rezoned for a multifamily project. NAI Horizon’s Jay Mininberg, J.D., represented buyer FJT1 Rental, LLC,...
Trilogy Investment Announces Construction Start at Rêve at Encanto West Build-to-Rent Community in Phoenix Submarket
AVONDALE, AZ - Trilogy Investment Company, a leader in Build-To-Rent (BTR) community development, announces that site development has commenced at Rêve at Encanto West in Avondale, Arizona, with utility construction underway. This 84-townhome BTR community, developed in collaboration with Cimbra Partners, LLC., represents the first strategic joint venture partnership with Cimbra Partners.
AZCREW panel to discuss multifamily, student, senior housing at August event
PHOENIX, ARIZ. (July 19, 2024) – AZCREW, the commercial real estate organization that exists to transform the industry by advancing women globally, brings together a panel of experts to discuss the multifamily, student housing, and senior markets in Arizona. Join AZCREW for a fascinating look into the Arizona Living...
Housing inventory increases as prices grow, home sales decline
As housing inventory increases, June home sales declined 7.2% from May’s strong showing and were down 11.6% year over year – atypical considering June historically has more sales than May. Across the 50 metro areas surveyed, housing inventory rose 6.7% from May and was up 38.1% over June...
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