Phoenix Business News
Finance
Tides on Cave Creek Apartment Complex Sold for $61.2 Million
News Summary In a significant event for the Phoenix real estate market, the Tides on Cave Creek apartment complex has been sold at auction for $61.2 million. This sale raises...
Phoenix Mayor Pushes for Responsible Chase Field Renovation
News Summary Phoenix Mayor Kate Gallego is advocating for a financially responsible bill focused on renovating Chase Field, home of the Arizona Diamondbacks. During discussions on House Bill 2704, she...
Alex Meruelo Profits from $30 Million Home Sale in Paradise Valley
News Summary Former Arizona Coyotes owner Alex Meruelo has sold his Paradise Valley home for $30 million, netting a profit of $17.9 million. The sale comes amid a cooling housing...
APS Announces Plans for Rate Increase in 2025
News Summary Arizona Public Service (APS) plans to file a rate case in June 2025, following an 8% increase in residential utility bills. This increase aims to address rising costs...
Phoenix Prepares for Crucial Budget Vote Amid Controversy
News Summary Phoenix city officials are gearing up for an important vote on a proposed $2.2 billion General Fund budget for the fiscal year 2025-26. The budget has drawn criticism,...
100 Club of Arizona Donates Ballistic Vests to Fire Investigators
News Summary The 100 Club of Arizona has donated over $6,000 worth of ballistic vests to the Phoenix Fire Department. This donation significantly enhances the safety of POST-certified fire investigators...
Phoenix Housing Market Faces Significant Correction
News Summary Phoenix is undergoing a notable correction in its housing market as inventory levels rise and home prices decline, even during the spring selling season. With 18,701 homes for...
Freeport-McMoRan Reports Mixed Earnings in Phoenix
News Summary Freeport-McMoRan Inc. has released its first-quarter earnings report, featuring a net income of $352 million and a revenue of $5.728 billion. While the results met Wall Street expectations,...
Greater Phoenix Excels in WalletHub’s Business Rankings
News Summary The Greater Phoenix area shines in WalletHub’s recent ranking of the best large cities for starting a business, with six cities making the top 25. Scottsdale leads at...
Construction
Phoenix Office Market Faces Challenges Amid Lease Cancellations
News Summary Phoenix is grappling with significant challenges in its office market, primarily due to the widespread cancellation of federal leases, which may raise vacancy rates. Approximately 550,000 square feet...
Camelot Homes Introduces Viridian Luxury Community in Phoenix
News Summary Camelot Homes is launching Viridian, a new gated luxury community in North Central Phoenix. Featuring contemporary architecture inspired by midcentury aesthetics, Viridian offers eight exclusive lots designed for...
Phoenix Downtown Construction Boom with 5,200 New Units
News Summary Downtown Phoenix is witnessing a construction surge with over 5,200 new apartment units underway, marking a significant post-pandemic development. Recent analyses rank it as the 21st fastest growing...
Phoenix Acquires 29.5-Acre Industrial Property
News Summary The city of Phoenix has purchased a 29.5-acre industrial site near the Rio Salado River for $29.58 million. This acquisition, part of the Rio Reimagined initiative, aims to...
MDF Development Announces $30 Million Luxury Compound in Paradise Valley
News Summary MDF Development plans to build a $30 million gated compound in Paradise Valley, AZ. Acquired for $5.75 million, the project signals growing demand for luxury real estate in...
Greater Phoenix Economic Council Wins Award for Excellence
News Summary The Greater Phoenix Economic Council (GPEC) has achieved the Mac Conway Award for Economic Development Excellence for the ninth consecutive year. This prestigious recognition from Site Selection Magazine...
Aligned Data Centers Breaks Ground on PHX-13 Facility in Glendale
News Summary Aligned Data Centers has commenced construction on its PHX-13 facility in Glendale, Arizona, as part of a large-scale expansion on a 100-acre campus. This new facility will operate...
La Esperanza Terrace Opens to Address Phoenix Housing Crisis
News Summary La Esperanza Terrace, a new affordable housing community in Phoenix, opened its doors this Tuesday, aiming to provide housing for families earning 60% or less of the area...
TSMC Begins Construction on New Facility in Phoenix
News Summary The Taiwan Semiconductor Manufacturing Company (TSMC) has commenced construction on its third semiconductor fabrication facility in Phoenix, Arizona. This expansion is part of TSMC’s goal to bolster U.S....
Real Estate & Properties
Tides on Cave Creek Apartment Complex Sold for $61.2 Million
News Summary In a significant event for the Phoenix real estate market, the Tides on Cave Creek apartment complex has been sold at auction for $61.2 million. This sale raises...
Phoenix Housing Market Shifts to Buyers’ Advantage
News Summary The Phoenix housing market has experienced a significant transformation, with inventory levels rising and home prices declining. As inventory surpasses 26,000 homes for sale—the highest since 2016—buyers now...
Alex Meruelo Profits from $30 Million Home Sale in Paradise Valley
News Summary Former Arizona Coyotes owner Alex Meruelo has sold his Paradise Valley home for $30 million, netting a profit of $17.9 million. The sale comes amid a cooling housing...
Phoenix Office Market Faces Challenges Amid Lease Cancellations
News Summary Phoenix is grappling with significant challenges in its office market, primarily due to the widespread cancellation of federal leases, which may raise vacancy rates. Approximately 550,000 square feet...
Tucson’s Tiny Home Village Addresses Homelessness Crisis
News Summary Tucson is set to launch a new tiny home village aimed at mitigating homelessness amidst escalating housing costs. Spearheaded by The Homing Project, this initiative will provide transitional...
Camelot Homes Introduces Viridian Luxury Community in Phoenix
News Summary Camelot Homes is launching Viridian, a new gated luxury community in North Central Phoenix. Featuring contemporary architecture inspired by midcentury aesthetics, Viridian offers eight exclusive lots designed for...
Phoenix Downtown Construction Boom with 5,200 New Units
News Summary Downtown Phoenix is witnessing a construction surge with over 5,200 new apartment units underway, marking a significant post-pandemic development. Recent analyses rank it as the 21st fastest growing...
Phoenix Transforms Park Central Mall into a Modern Mixed-Use Hub
News Summary The redevelopment of Park Central Mall in Phoenix turns the once-popular shopping destination into a vibrant mixed-use hub, integrating businesses, healthcare, education, and community spaces. Originally opened in...
Central United Methodist Church in Phoenix Announces Closure
News Summary The Central United Methodist Church, a key landmark in Phoenix since 1870, will close its doors due to declining attendance and financial difficulties. From a high of 4,000...
Marketing
No posts found!
