06/23/07
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:32 pm
Quick: What does the Arizona Biltmore have in common with the Empire State Building? Both made the American Institute of Architects‘ list of “America’s Favorite Architecture.” The Arizona Biltmore Resort and Spa ranked 119th out of 150. The only other Arizona project to make the list was Taliesin West, at No. 123. The Empire State Building tops the list of projects, compiled to coincide with the organization’s 150th anniversary. Harris Interactive surveyed 1,804 randomly selected Americans asking them to chose from a list of 248 structures compiled by an AIA panel. The Biltmore, constructed in 1929, was designed by Albert Chase McArthur, who studied with Frank Lloyd Wright between 1907 and 1909. McArthur used a textile-block system developed by Wright, and precast concrete blocks were molded on site and used throughout the resort, according to AIA’s description of the project. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:29 pm
In the 20th century, architects such as Louis Sullivan, Mies van der Rohe and Frank Lloyd Wright broke away from traditional design and created their own style. Wright designed open spaces, Sullivan transformed the skyscraper by emphasizing vertical design, and van der Rohe heavily influenced modern architecture by using materials like glass and steel. Many of these techniques are common practice, so what will define architecture in the twenty-first century? More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:26 pm
In the past three years, nearly 8 million square feet of office space has been built in the Valley and nearly 75 percent of that construction has been for office condominiums, according to a recent study. To capture that much market share looks impressive on the surface, but the assessment by Kammrath & Associates, a Phoenix-based commercial real estate analysis firm, isn’t particularly good. According to the report, “it may be a bit early to hold a memorial service for office condominiums, but there are signs pointing in that direction.” More…
Filed under:
General,
Business
Posted by:
Lillian Wong @ 4:24 pm
Three more financial services companies are preparing to launch in the Valley with a wide array of specialized services. Maritime Savings Bank plans to begin serving commercial and personal banking clients here with two East Valley branches: one each in Fountain Hills and Scottsdale. The West Allis, Wis.-based bank already operates a Scottsdale subsidiary called Maritime Mortgage Corp.-Arizona. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:22 pm
Freebies and giveaways may be old hat to the credit card industry or retailers trying to drive foot traffic at a new store. But now a local developer is using those tactics for an office building about to enter the market. Called Max at Kierland, the six-story building is under construction on Scottsdale Road near the Kierland Commons shopping center. When completed in December, it will offer 257,000 square feet of Class A office space. More…
Filed under:
General,
Business,
Real Estate
Posted by:
Lillian Wong @ 4:19 pm
Blue Cross and Blue Shield of Arizona Inc., the state’s largest health insurer, paid $5.9 million for 13 acres of vacant land near its corporate headquarters in Phoenix. The nonprofit health insurer plans to build about 200,000 square feet of office space on the property, which is south of Dunlap Avenue and east of Interstate 17. Plans call for occupying the new offices in the first quarter of 2010, said Karen Abraham, vice president of finance for the Phoenix-based health plan. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:18 pm
Phoenix has the nation’s most volatile housing market, according to a report released June 19 by a national risk management group. Home affordability in Phoenix has taken a hit since prices began to skyrocket in 2005, but now the rate of appreciation is dropping, industry experts said. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:11 pm
One senior resident of the Orchidtree Apartments refuses to acknowledge that her home, in one of Scottsdale’s last affordable complexes, is about to be bulldozed. She has not packed a thing. Neighbors recently watched another longtime resident collapse in an emotional breakdown at the sight of a moving crew. She became so distraught she sent them away and went back into the apartment she has called home for years. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:09 pm
BUCKEYE - Behind the shuffling of numbers, Buckeye’s recent budget hearings resulted in one of the most aggressive downtown revitalization plans in town history. After talking through the details, officials decided to spearhead several major efforts to revamp downtown Buckeye. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:07 pm
NORTHEAST PHOENIX - Two new buildings will take up the last remaining land dedicated to commercial office development in the Kierland community when they’re finished later this year. About 430,000 square feet of office space will be added to the master-planned community’s commercial office hub through the SGA Corporate Center at Kierland and Max at Kierland. That’s almost enough to fill up the One Renaissance Square office tower in downtown Phoenix. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 4:01 pm
Northeast Phoenix has some of the most expensive homes in town, regularly selling for more than $1 million. It also has some of the city’s least expensive places. A quick check of sales records shows that in April, one residence changed hands for the staggeringly low price of $40,000. That place, an older mobile home, is a mere 5 miles from neighborhoods in Desert Ridge where a new home, with added options, recently sold for more than $1.5 million. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 3:58 pm
Bidders for Arizona trust land that Westcor wants for its Palisene shopping center will have to pay at least $99 million to gain the development rights. The State Land Department has valued the 112-acre site northwest of Loop 101 and Scottsdale Road at $32 million. Plus, the winning bidder on a 99-year lease must commit to $67 million in improvements, including roads, utilities and drainage work. An auction is planned for late September, although no date has been set, Land Commissioner Mark Winkleman said. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 3:52 pm
The state Legislature on Tuesday revived a bill that would punish cities that lure retail developers with tax breaks. Lawmakers want to discourage municipalities from bidding against one another to get developments in their boundaries. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 3:47 pm
Homeowners hesitant to plunge into a deal for a new home are getting some enticing options from home builders. Scottsdale-based Camelot Homes has joined a home trade-in program offered by ERA Real Estate that guarantees the buyer’s existing home will be sold at 90 percent of the appraised value or higher. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 3:44 pm
Residents at Desert Ridge are upset that a developer, which they believe has circumvented the rules, appears to be getting its way on land at the heart of the master-planned community. At issue is property at the northeastern corner of Tatum Boulevard and Deer Valley Drive in Phoenix, directly north of Desert Ridge Marketplace. More…
Filed under:
General
Posted by:
Lillian Wong @ 3:42 pm
A change in land ownership has delayed a retail project planned for the area around Surprise Stadium. The 17-acre portion is part of a 69-acre area surrounding the city’s Cactus League stadium and is the second time development has been postponed. Construction originally was set to start in October. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 3:40 pm
Designers of Goodyear’s planned baseball stadium have borrowed elements from major league ballparks to try to create an urban feel around the ballpark. Erik Judson, a principal with JMI Sports and a project adviser to Goodyear, called the design “groundbreaking” in a recent presentation to the City Council. Plans call for offices and hotels to be built close enough to grant line-of-sight access into the 8,000-seat ballpark, much like at Chicago’s Wrigley Field or Petco Park in San Diego. More…
Filed under:
General,
Real Estate
Posted by:
Lillian Wong @ 3:38 pm
A California-based real estate investment firm has purchased a 9-acre property in downtown Phoenix, which includes the historic Grace Court School, for $24.2 million, according to public land records. Broadreach Capital Partners of Palo Alto declined to confirm what it paid NGP Grace Court Phoenix I LLC for the property, but it is likely more than $24.2 million because the site includes two new office buildings already under construction. More…
Filed under:
General,
Real Estate,
Mortgages
Posted by:
Lillian Wong @ 3:35 pm
Arizona, California, Nevada and Florida led the nation for skyrocketing home prices a few years ago. Now these states are leading the nation for increases in foreclosures. Data from the Mortgage Bankers Association of America released Thursday show these states posted the biggest gains in new foreclosures during the first quarter of 2007. Arizona fared slightly better than the other states and is at the bottom of the dubious list. Mortgage Bankers Chief Economist Doug Duncan said the nation’s overall foreclosure rate wouldn’t have climbed during the first quarter if these states hadn’t posted such significant increases. More…
Filed under:
General,
Mortgages
Posted by:
Lillian Wong @ 3:31 pm
If you blinked, you might have missed the jump in mortgage rates. Responding to action in the bond market, lenders have pushed up interest rates on many types of loans, including the 30-year fixed variety that’s favored by so many borrowers. More…