The COVID-19 pandemic may have thrown a wrench into many industries, but the Arizona real estate industry does not seem to be one of them. Many Arizona real estate companies are experiencing a banner year in 2021, and many are optimistic that it will continue as we travel into 2022. Here are six Arizona commercial real estate projects to watch in Arizona’s red-hot commercial real estate market.
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Multifamily
Moontower PHX
Developer: Lincoln Ventures
Capital partner: Cross Harbor Capital Partners
Architect: Shepley Bulfinch
Contractor: JE Dunn
Interior design: Michael Hsu Office of Architecture
Size: 24-story, 326-unit development
Location: 811 N. 3rd St., Phoenix
Start: Summer 2021
Education
Applied Research Building
Developer: University of Arizona
Contractor and architect:
McCarthy | SmithGroup
Size: 89,000 square feet
Location: Southeast corner of East Helen Street and North Highland Avenue, Tucson
Complete: January 2023
Mixed-use
The Grove
Developer: RED Development
Size: 15-acres
Location: 44th Street and Camelback Road, Phoenix
Value: $300 million
Features: The Global Ambassador hotel, four-story Class-AA office building, several ground-floor retail spaces and restaurants, and more
Start/complete: June 2021/Fall 2023
Public
Tolleson Civic Center
Developer: City of Tolleson
Contractor: Haydon Building Corp
Architect: SmithGroup
Location: 9055 W. Van Buren St., Tolleson
Value: $22 million
Start: June 2021
Multifamily
Skye on 6th
Developer: Hubbard Street Group
Capital partner: Cresset Real Estate Partners
Architect: Shepley Bulfinch
Contractor: Clayco
Size: 309 units
Location: Southeast corner of 6th Street and Garfield Street, Phoenix
Start/complete: July 2021/Summer 2023
Industrial
Craft Workforce Center
Developer: McCarthy Building Companies
Architect: DLR Group
Size: 40,000 square feet
Location: Chandler
Start/complete: July 2021/January 2022
