Peoria, non-profit team to rehab vacant downtown shopping centers

Peoria has partnered with non-profit Chicanos Por La Causa Inc. to try to revitalize two long-vacant shopping centers in its downtown.

The two will work together to identify potential redevelopment and revitalization projects at the Peoria Town Center, near 83rd and Peoria avenues, and Adobe Plaza, near Grand and 84th avenues, which used to house a Smitty’s grocery store and a restaurant.

Economic Services Development Director Scott Whyte said the memorandum of understanding, which the City Council unanimously approved Jan. 21, lays the framework for the city and non-profit to evaluate potential projects that could bring new life to the areas that city leaders long have struggled to revive. The strip malls along Grand Avenue have seen owners and tenants come and go over the years.

Read more...Peoria, non-profit team to rehab vacant downtown shopping centers

5 Shea Homes projects approaching completion

Shea Homes is in the final stages of completing five West Valley communities, the builder said.

Five communities in Buckeye, Litchfield Park and Peoria have more than 30 homes and vacant lots available for purchase at “outstanding prices,” Shea homes said.

Shea is selling vacant lots and homes that are available for a quick move-in, company officials said.

Read more...5 Shea Homes projects approaching completion

Cibola Vista Resort launches expansion - USATODAY.com

Those traveling on north Peoria's Lake Pleasant Parkway will soon see a gold, four-story, Byzantine-style dome glistening in the sunlight.

Cibola Vista Resort and Spa

Location: 27501 N. Lake Pleasant Parkway, Peoria.

Rooms: The resort has 218 rooms, which will expand to 258 when the current construction is completed by May. At buildout in an estimated 15 years, the resort should have 480 rooms.

Room rates: Apart from time-share visitors, the resort rents out rooms with prices ranging from $90 to $420 per night, depending on room and time of visit.

Amenities: Tennis court, full-service spa, fitness center, horseback riding, lagoon pool, adult pool with cafe, meeting room, wedding packages.

Read more...Cibola Vista Resort launches expansion - USATODAY.com

W. Valley homebuyers seeing housing prices skyrocket

Tricia Williams is painfully aware of the housing market rebound that began in 2012.

She and her husband began looking for a home along Happy Valley Road near Interstate 17 in early 2012, just before prices began increasing dramatically. Their wish list included 2,500 square feet and four to five bedrooms for less than $200,000 within the Deer Valley Unified School District.

They put in two other offers in the north Phoenix and Peoria area, but were outbid within a week for one and within a day for the other. They didn’t place counteroffers.

“I wasn’t going to get into the bidding game,” Williams said. “It’s not worth it. There’s been no house that I’d want to do that with.”

Instead, they opted for fewer bedrooms and a mortgage payment that was higher than hoped.

Read more...W. Valley homebuyers seeing housing prices skyrocket

West Valley cities easing building-permit process

Few people likely consider how long it takes to get a building permit in their city until they go to put in a backyard pool or build an addition to their home.

But beyond permits for individual homeowners, there’s a reason to pay attention.

West Valley cities court developers to bring in more jobs and revenue, and builders say one of the key variables is being able to easily maneuver through local bureaucracy.

Building permits can come in a variety of shapes and sizes and are a key hurdle for anyone starting a construction project. Developers need them for new housing developments and tenant improvements. Residents or contractors need them for projects such as pool installations or new electrical work that needs to comply with city building codes.

Time is money when builders wait for city staff to approve their projects. If a builder can get fast approval to start on a custom home, it makes it easier to line up subcontractors and ultimately get a new resident in that home, for instance.

Glendale, Peoria and Surprise say they fall within national standards, but Surprise was the only one that provided data to back it up.

Read more: West Valley cities easing building-permit process

New builder starts work in Surprise's Greer Ranch

Dallas-based homebuilder Gehan Homes is ready to start construction on scores of homes for its Hacienda at Greer Ranch community in Surprise.

Gehan Homes CEO Tim Gehan, who co-owns the company, said he wants to take advantage of a new growth cycle as Surprise’s master-planned communities begin building again, waking up from the recession’s dormant period. The Gehan Homes building plans extend beyond Surprise.

The builder is constructing homes in Bridges of Gilbert, Peoria’s Vistancia and Goodyear’s Palm Valley. Model homes should start going up in Vistancia in June or July, with building on all sites starting by the end of the year.

Read more: New builder starts work in Surprise's Greer Ranch

P83 remake could cost Peoria $495K initially

Peoria expects to spend $495,000 to begin to remake P83, the city’s entertainment district near 83rd Avenue and Bell Road.

The collection of restaurants, a movie theater and the Peoria Sports Complex have long attracted visitors, but the city wants to enhance the area.

Officials are working with private developers to open a boutique hotel, more restaurants and luxury apartments as the city tries to create a year-round, outdoor, family-oriented urban destination.

For now, the city plans to begin designing Phase 1.

Read more:  P83 remake could cost Peoria $495K initially

Habitat for Humanity working on 8 Peoria homes

In a few months, Michel’le Dinkins will move into her first home — one she has helped construct, nail by nail.

The 22-year-old single mom, a part-time student and full-time St. Mary’s Food Bank employee, will get the key in February to one of eight Habitat for Humanity Central Arizona projects under way in Peoria.

The faith-based non-profit builds and renovates homes and sells them to low-income families at affordable prices with no-interest mortgages. The organization owns three vacant lots in Peoria not yet under construction and has built a new home and renovated seven others this year.

Read more: Habitat for Humanity working on 8 Peoria homes

Peoria City Council approves spring training clubhouse work

The Peoria City Council this week approved a $26.4 million construction contract for upgrades to the city’s spring-training complex and outlined more specifics on other improvements in the 83rd Avenue area.

Mortenson Construction will handle the improvements and expansion of clubhouses for the Seattle Mariners and San Diego Padres. Work should begin shortly after spring training ends in March and be completed by the start of the season in 2014.

The new clubhouses come as part of the city’s recent 20-year agreement to keep the teams training in Peoria. The Peoria Sports Complex, near 83rd Avenue and Paradise Lane, was the first spring-training stadium nationwide to host dual teams, which has become standard in the Cactus League.

The council also approved basic details of its partnership with a private developer to create a high-endretail and entertainment district near the facility.

Read more: Peoria City Council approves spring training clubhouse work

Peoria entertainment/hotel plan closer to reality

If Peoria city officials have anything to say about it, Glendale won't be the only West Valley city with a thriving entertainment district.
In fact, Peoria aims to create a vibrant entertainment district and boutique hotel unlike any in the West Valley by the time Super Bowl XLIX hits Glendale in three years.

The city has been working with developers for more than a year to expand 83rd Avenue's restaurant row, which includes the city's spring-training ballpark and a dinner theater. The city recently informally christened the area P83 and seeks to build buzz.

Peoria developer Mike Oliver envisions an eight-story hotel with a rooftop lounge, boutique shops, trendy restaurants and upscale apartments on what now is ballpark parking lots.

Oliver's plan to start construction last summer vaporized after losing an investment partner. Now, he has teamed with Scottsdale-based Chandler Hotel Group. They formed Peoria Sports Park LLC and hope to break ground by April.

Before that, developers and Peoria officials must hammer out a deal for the project on 17 acres of city-owned land.

To jump-start the $130 million project, the city would lease land to the developers and pay for a roughly $30 million parking garage to make up for the lost stadium parking. Details must be worked out as part of the talks.

Read more: Peoria entertainment/hotel plan closer to reality

Area's home market hot - USATODAY.com

Javier Vidana is only 19. But with his investor father's cash, he was ready to make an offer on a three-bedroom, 2½ bath home in Peoria on Thursday.

"I love it already," said Vidana, who rents a room in a Phoenix house. "I don't want to be living in a little room anymore."

His real-estate agent, Jesse Abarca, said Vidana and his father will have to be ready to make a solid cash offer literally the hour the house hits the market. Even then, they could get outbid.

"The game is to get an offer in as soon as possible to avoid the other bidders," said Abarca, who works for Re/Max Professionals in Glendale.

For real-estate agents, homebuyers and especially homesellers, the West Valley is burning up, especially for homes less than $150,000.

"The West Valley is really, really a hot market," said Chris Heagerty, director of the Arizona Regional Multiple Listing Service Inc.

That heat is strongest in the market for homes of $100,000 to $150,000, forcing new buyers to move to higher ranges.

The sellers of the small, empty house Vidana has his eye on are aiming it at the hottest part of the investor's market -- homes from $110,000 to $130,000.

Distressed properties, those houses owned by people facing foreclosure or short sales, still make up the bulk of sales. But ARMLS statistics show they have decreased in metro Phoenix to about 43 percent in May. That's a drop compared with their high-water mark in September 2010, when distressed properties made up 74 percent of homes sold.

An equally significant number is the ratio of short sales -- in which a home sells for less than is owed on its mortgage -- to foreclosure. ARMLS statistics show that metro Phoenix had 2,245 short sales in May compared with 1,423 foreclosures. Short sales increased that month by 5.5 percent over April figures, while foreclosures decreased by 1.9 percent.

By Lesley Wright, The Republic|azcentral.com Jun 16, 2012



Area's home market hot - USATODAY.com

Big projects boost West Valley

When executives with Tanger Factory Outlet Centers Inc. were scouting metro Phoenix last fall, they found their target site in Glendale's Westgate City Center. It had a lot going for it.

The 38-acre site bumped against Loop 101. Nearby sports stadiums would draw in potential shoppers. Best of all was the speed with which the deal could be done.

"We felt the city was going to be cooperative," said Tom McDonough, Tanger's executive vice president and chief operating officer. "In general, this went quicker than most."

Those are all factors that have helped West Valley cities rebound from the economic recession.

Major projects set for Surprise, Peoria, Glendale and the Southwest Valley could take off as the state continues to improve Loop 303 and make large pieces of the West Valley more accessible.

Barry Broome, president and chief executive of the Greater Phoenix Economic Council, noted in a recent talk that the West Valley consistently delivers large business sites.

Broome said companies planning to build or relocate make side-by-side comparisons of cities and states. Such factors as taxes, real-estate and operating costs, infrastructure, incentives and workforce all come into play. Often, the prospective cities are unaware that they are in the running, giving them incentive to streamline bureaucracies.

"All your hard work is paying off," said Broome, who added that he was aware of two Chinese companies surveying the West Valley. "If somebody is looking for 150 to 200 acres, the West Valley is the only place."

Speed was a factor with the Glendale location of the Tanger Outlet Mall, which is under construction and expected to open for the holiday season. City officials did not offer any financial incentives, but they did use an expedited two-day planning process called a "design review charette," according to Jon Froke, Glendale's planning director.

by Lesley Wright - May. 25, 2012 05:17 PM The Republic | azcentral.com





Big projects boost West Valley