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E-Zine for the Week Ending February 8, 2017
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New Apartment Construction Remains Strong
As of 2.8.2017, there were 54 apartment communities under construction totaling 12,759 units. Of these, 33 projects are scheduled to be completed with 7,303 units in 2017. Over the past few years, developers are reporting about a 25% cost increase. The full report and interactive map will be available shortly.
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Intel Corp. announced plans today to invest more than $7 billion to complete the most advanced semiconductor factory in the world in Chandler.
The completion of the high-volume factory, known as Fab 42, will take three to four years and create 3,000 high-tech, high-wage Intel jobs for process engineers, equipment technicians and facilities support engineers and technicians.
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Phoenix was a top place to move in 2016, according to a new list from Penske Truck Rental.
The truck rental company, which analyzed one-way consumer truck rental reservations, found that Phoenix was the third most popular moving destination in 2016. That placed Phoenix just behind Dallas/Fort Worth (No. 2) and Atlanta (No. 1) and ahead of Denver (No. 4), Tampa/Sarasota, Florida (No. 5).
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Flexible office is any space rented for less than a typical five- to 10-year lease. LiquidSpace's report focuses on spaces rented by the month for up to three years. The company offers the ability for teams and companies to rent space for an hour up to three years. Spaces can be furnished or unfurnished and range from offering open or designated desks, private offices, team offices or an office suite.
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Phoenix is projected as the number one housing market for 2017 by Realtor.com.
So can the Valley live up to that billing? Brad Hunter, chief economist with Colorado-based HomeAdvisor Inc., said Phoenix has some advantages in 2017 compared to other markets.
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A big senior housing development in Phoenix’s Desert Ridge area is getting an expansion and upgrades after receiving $107.7 million financing led by Bank of America.
Sagewood is owned by Westminster Funds and Life Care Services LLC. It sits on 270 acres near the Musical Instrument Museum.
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10,561 Units Under Construction
In addition to the 10,561 units currently under construction, there are 23,060 " planned and 7,911 units in the early phases. That's a total of 41,532 units.
CLICK HERE for detailed list of new construction or use the map link.
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Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
CLICK HERE for a detailed list of Apartments Available
or use the map link.
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Kasten Long Commercial Group
Jim Kasten, CCIM - Designated Broker
602 445 4133 office 602-677-0655 Cell
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