Phoenix construction costs rose by 5.42% in October 2023, slightly above the national average, amidst ongoing labor shortages affecting project timelines.

High Street Residential seeks a two-year delay for The Fillmore project's second phase in downtown Phoenix, citing unstable capital markets. The initial phase, completed in 2022, included 330 units and retail space. The delay requires city approval.

A mansion in Paradise Valley leased for $75,000 a month, setting a new record in Phoenix's booming luxury real estate market. Other high-value leases and sales have taken place, showcasing a strong demand for luxury living in the area.

Scottsdale's Silverleaf neighborhood saw a $7 million lot sale and a record $28.1 million mansion sale, indicating a strong luxury real estate market.

The Phoenix area anticipates significant development in 2024, including office conversions, industrial parks, and entertainment venues like VAI Resort, which could transform the city's economic and physical landscape.

The Royale business complex opens in Phoenix's Melrose District, featuring local businesses and aiming to support the community and boost the local economy.

Phoenix leads the U.S. in build-to-rent (BTR) home construction, with major growth also fueled by TSMC's $40 billion chipmaking facility investment, promising significant job creation and economic impact.

TSMC might delay the second Arizona chip factory's production start to 2027 or 2028, deviating from the original 2026 target, due to demand fluctuations and U.S. incentives.

Multiple freeway closures in Phoenix, including I-10, SR 143, and I-17 due to construction, are causing detours this weekend, advises ADOT. Drivers should expect lane restrictions and use recommended alternatives.

CapRock Partners has purchased a 250,000-square-foot industrial building in Phoenix for $20.4 million, which is fully leased and has features like 36-foot ceilings and 28 loading docks.

BedBrock Developers announces Continental Mountain Estates, a luxury $10 million home community in Arizona's desert, featuring amenities like seven-car garages and rooftop decks.

Phoenix passes a wage ordinance requiring city-funded construction projects over $4 million to pay a prevailing wage, amidst controversy and legal challenge threats.

Intersection Development acquired Audacy's real estate in downtown Phoenix for $10.5 million, intending to advance local high-density development plans, while keeping specifics private.