Phoenix
Sky Harbor Launches $1.58B Automated Rail System
Sky Harbor celebrated a major milestone with the opening of the $1.58 billion PHX Sky Train system on April 8. Striving to provide a seamless travel experience, the electrically-powered, automated train will operate 24-hours a day, 365 days a year, transporting passengers between the 44th Street and Washington METRO light rail, the East Economy parking area and the 88-gate Terminal 4, which handles 80% of the passengers at Sky Harbor.
Ivanhoé JV Joins Goldman, Greystar in 27 M-F Properties
Ivanhoé Cambridge has made its largest multi-family investment, joining a partnership of Goldman, Sachs & Co. and Greystar in the $1.5 billion acquisition of 8,010 multi-family units from Equity Residential.
Macy’s Plans $35M Expansion for Goodyear Fulfillment Center
Macy’s Inc. has recently announced it would invest circa $35 million in expanding its Goodyear online fulfillment center. The expansion will also bring an additional 125 jobs to the area. According to the retailer’s plans, construction is expected to begin this summer, with an opening date set for the spring of 2014, when its fulfillment center in Goodyear will count for nearly 1 million square feet.
Gilbane, P.B. Bell Launch Upscale 389-Unit M-F Complex in Chandler
Gilbane Development Company and The P.B. Bell Companies have teamed up to develop a luxury apartment community in Chandler. Called Almeria at Ocotillo, the multifamily development will feature 389 units with one, two and three-bedroom options.
Mark-Taylor, Kitchell to Develop 590-Unit M-F Project in Tempe
Mark-Taylor Inc. has recently announced it would team up with Phoenix-based Kitchell Development Co. to develop a 590-unit multifamily project in Tempe. The giant apartment community will be called San Sonora.
Optima Sonoran Village Leads Downtown Scottsdale’s M-F Development Wave
The first phase of Optima Sonoran Village, consisting of a 210-unit apartment building in downtown Scottsdale has recently marked an important milestone for the local apartment market; the seven-story tower is the first completed project in a wave of thousands of apartments proposed downtown.
$25M Sports Complex Debuts on ASU West Campus
A new $25 million fitness complex is about to open on the Arizona State University West campus in Phoenix. The 63,800-square-foot facility will complete a major expansion project on the West campus.
The Rockefeller Group, IPA Break Ground on M-F Project in Suburban Phoenix
Late last summer, The Rockefeller Group and Investment Property Associates said they would break ground on the $58 million Liv Northgate in Gilbert, Ariz., in early 2013, and now they have.
Dignity Breaks Ground on $44M Hospital in Glendale
San Francisco-based Dignity Health officially broke ground on a new West Valley hospital planned at its medical campus near the Loop 101 and Glendale Avenue. Dignity also unveiled the name of the $44 million facility during the groundbreaking ceremony — “St. Joseph’s Westgate Medical Center”.
City Weighs 100-Acre Sale to Liberty Property Trust
The City of Tempe is looking to create a partnership with Philadelphia-based Liberty Property Trust on the development of circa 100 acres of land which could create approximately 6,500 new jobs over the next decade. The deal has yet to be up for council vote on February 7, 2013. If approved, construction is expected to begin early summer.