Century 21 Metro Alliance, a large Valley real estate brokerage, filed for Chapter 11 bankruptcy reorganization Sept. 28, making it the latest in a string of housing slump-related casualties. Jancy Realty and Investments Inc., the legal entity that owns the brokerage, has been in business since 1980. Majority owner Charles McLean and co-owner Phil Mercurio both are widely known in the Valley real estate community. More…
Won-Ki Choi and his wife Janice had their eye on the townhouse at East Market at Fair
The prehistoric pit houses, a century-old cosmetic-cream jar and antique bricks tell the story of the first merchants in downtown
While the buzz has been building for the newly inaugurated Tempe Marketplace, there’s a different sound emanating from Mesa Riverview, at
TEMPE-The developer that wants to build a high-rise building that would partially hang over Monti’s La Casa Vieja steakhouse faced the Tempe Historic Preservation Commission Thursday evening and was sent “back to the drawing board.” La Casa Vieja, once home to the Hayden family that founded
A state-land auction expected to trigger development on the Phoenix side of
If there’s one thing that economists and real-estate analysts agree upon, it’s that the housing market will not rebound from its free fall soon. But beyond that, it gets pretty murky. For example, many experts can’t seem to agree on the effect the housing downturn will have on commercial real estate. Some believe the market has already weathered the storm; others believe the worst is still to come. More…
A Scottsdale-based company is co-developing a $500 million Ritz-Carlton project northwest of Tucson that will be the largest and most comprehensive Ritz-Carlton of its kind in the
If you’re a renter looking for a new apartment, you could be in for some good deals in the coming months. Apartment managers around the Valley are starting to offer rent specials again as occupancy falls and rents increase at a slower rate. More…
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Developers of Waterview at
The Valley’s largest shopping mall company says its retailers don’t believe holiday spending will be as restrained as other national forecasts predict. Westcor said Tuesday that more than 70 percent of retailers surveyed by its parent company, California-based Macerich, expect higher sales in this year’s fourth quarter compared to the same period last year. More…
WASHINGTON - A deepening housing slump probably will be a “significant drag” on economic growth into next year and it will take time for Wall Street to fully recover from a painful credit crisis, Federal Reserve Chairman Ben Bernanke warned Monday. Bernanke once again pledged to “act as needed” to help financial markets - which have suffered through several months of turbulence - function smoothly and to keep the economy and inflation on an even keel. More…
More than 3 million square feet of new retail space was constructed in the Phoenix metro area in the last quarter, as the area continues to be one of the fastest-growing retail markets in the nation. Also, a national real estate information service said Monday that two shopping centers under construction in the Valley are among the eight largest in the nation. More…
NEW YORK - The nation’s three largest banks said Monday they are teaming up to create a rescue fund of sorts - potentially as large as $100 billion - to help bail out troubled global credit markets. Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co., at the prodding of the Treasury Department, will buy distressed debt from markets roiled during the summer’s financial crisis. The joint effort is the result of more than a month of talks mediated by the government. More…
PARADISE VALLEY - The