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The developer of Vistancia, a master-planned community in north Peoria, says progress is being made toward building a “Kierland Commons” type of urban village there, but construction likely won’t start for another two years. Developer Sunbelt Holdings is working its way through the process of getting approvals from Peoria for the types of buildings the village will have, densities and setbacks.  More…

Arizona’s reputation as a destination for resorts, golf courses and plush vacation homes has caught the attention of a prestigious real estate company that caters to the global wealthy elite. Sotheby’s International Realty Affiliates president and CEO Mike Good said this week that the New Jersey-based company, which has some 400 offices worldwide, is moving toward opening a franchise in the Valley by the end of 2007.  More…

Arizona Village Communities has acquired 28 acres for $6.1 million from Newland Communities in the Mountain Ranch community of Estrella. The Scottsdale-based real estate firm said expects construction on new homes to begin in the second quarter of 2008.  More…

Commercial real estate veteran Gregory K. Miskovsky was named managing director of Cohen Financial’s new Phoenix office, where he he will introduce the Chicago company’s commercial real estate financing, investment banking and capital services to the Southwest market.  More…

More than 50,000 additional people are expected to be living in Scottsdale by 2020, while vacant land that can sustain residential development in the city continues to disappear. The result will be high housing prices in the long term because of a high demand to live here, according to economic and business officials. Population projections recently released by Scottsdale indicate that by 2020, almost 290,000 people will call the city home. At the beginning of the year, the city had about 239,000 residents. That’s about a 21 percent increase in population in a little more than a decade.  More…

A Canadian homebuilder has begun selling homes at its first Arizona community. Mattamy Homes Arizona Division is building Mattamy at Circle Cross Ranch north of Hunt Highway in Pinal County. The 242-home community is located within the master-planned community of Circle Cross, which will have parks, ramadas and children’s play areas. The homes are split between eight floor plans ranging from 1,060 to 3,022 square feet built on 120-foot deep home sites, allowing plenty of room for spacious backyards, according to the company’s announcement. For more: www.mattamyhomesarizona.com.

Westcor has decided to table residential units that were to accompany a new parking garage at Chandler Fashion Center. Officials said they are moving forward on a facility that will add 300 to 500 parking spaces for retail customers at the mall near Chandler Boulevard and Loop 101.  More…

PHOENIX — Gov. Janet Napolitano vetoed new restrictions on the power of homeowner associations Wednesday — but not necessarily because she disagrees with the legislation. Napolitano said some provisions of Senate Bill 1130 may have merit. These include making it harder for HOAs to block homeowners from installing solar panels and permitting residents to put up signs announcing their houses are for sale.  More…

COBE Development announced Thursday that is has started work on its $11 million Camelback 101 Professional Plaza in the west side of town.   More…

The Republic 100 rankings tell only part of the story when it comes to the health of Arizona’s construction industry. Consider Pulte Homes Inc. (No. 96) and Sundt Construction Inc. (No. 97). Both count about the same number of employees but face very different financial situations as the housing market deflates and commercial/public projects boom. Michigan-based Pulte, which owns the Del Webb brand started in Arizona, lost $85.7 million in the first quarter because of falling numbers of home closings and too much inventory.  More…

Regulators are going after another Valley mortgage firm for suspected illegal lending practices. The Arizona Department of Financial Institutions has filed a complaint against Home One Mortgage Services, or SJJ Corp. Allegations include failing to disclose or calculate the right interest rates and fees on more than 100 loans; letting Residential Asset Management, among other groups, use its license to process mortgages; and making false promises or concealing important facts on more than 200 loans.  More…

Sun Health Del E. Webb Memorial Hospital’s new addition will be built in two phases, with the first expected to wrap up in early 2009, at a cost of $86 million. The first phase of the expansion will add four floors to the facility on Meeker Boulevard near Grand Avenue in Sun City West, Sun Health chief executive Jo Adkins said. It will include 400 beds and more emergency room space.  More…

A Scottsdale developer has started construction of the Windgate Crossing neighborhood shopping center almost four years after acquiring nearly 10 acres of state land northwest of Bell Road and Thompson Peak Parkway. Charles Byxbee, managing partner of Byxbee Development, has lined up a CVS Pharmacy and Bank of America as anchors for the project’s first phase which could include an Irish pub in its nearly 20,000 square feet of shops. Byxbee said the center should open this fall.  More…

Desert Ridge soon will add a senior living development to its arsenal of housing, shopping and offices. The $283 million Sagewood at Desert Ridge project could welcome its first residents in late 2009. The 85-acre project ultimately will include about 750 homes, although there is no timeline for build-out. The first phase features about 300 homes and substantial construction is expected to begin in spring 2008.  More…

Newland Communities, the San Diego-based owner of the Estrella development in Goodyear, has purchased about 2,700 more acres in the master-planned development for $62 million. This is the third purchase Newland Communities has made since taking over the land in the Sonoran Desert Valley in 2005, according to Greg Bielli, president of the developer’s mountain region.  More…

The crunch felt by businesses looking for downtown office space won’t disappear any time soon. Low vacancy rates continue to persist in Phoenix’s core business district, and the arrival of new space remains at least two years off. As a result, leasing rates in the downtown area are now approaching those in traditionally higher-priced districts, such as the Camelback corridor and Scottsdale.  More…

Shopping centers are going up on all four corners of the intersection of Happy Valley Road and Lake Pleasant Parkway, and the developers foresee a bright future for the locations. They say retailers are clamoring for a presence at the intersection on Lake Pleasant Parkway, a future major north-south channel for traffic between downtown Peoria and Lake Pleasant.  More…

A duplex has two attached homes side-by-side. “Stacked flats” are two homes, one on top of the other. And stacked flats are what dozens of curious people turned out to see recently at the under-construction Verde Vista neighborhood at Trilogy in Vistancia in north Peoria. The homes, being built by Shea Homes-Trilogy of Arizona, proved a hit for baby boomers with elderly parents when they were built in Glen Ivy, Calif., said Sharon Baker, general manager of Trilogy at Vistancia.  More…

One of Litchfield Park’s last vacant parcels will soon be home to a sprawling residential community. National builder Toll Brothers has announced sales of 345 residences near the Wigwam Resort & Golf Club’s Red Golf Course off Wigwam Boulevard and Litchfield Road.  More…

As the Valley’s growth pushes northwest toward Wickenburg, businesses in the rustic Old West town are grappling to meet residents’ demands. It is a major challenge for the Wickenburg Chamber of Commerce, said Julie Brooks, the chamber’s executive director. The question of how to serve new residents has led some local and regional developers to take action, Brooks said.  More…