Arizona Real Estate Informer

Developer sticks with project

Developer Niels Kreipke says he will continue to pursue a $300 million project that would change the face of downtown Chandler even though the city delayed his presentation and paved the way for competitors to submit different proposals for one of the parcels. More...

Freddie Mac to stop buying some high-risk mortgages

WASHINGTON - Mortgage giant Freddie Mac said Tuesday it will no longer buy high-risk home mortgages that it deems to be highly vulnerable to foreclosure. The surprise move came amid a deteriorating market for subprime loans affected by slumping home prices and rising interest rates.  More...

Talks continue on CamelSquare project

A plan to redevelop an old office park along the Camelback Corridor stands on hold while developers address concerns from a neighborhood group. The CamelSquare development, announced in September by Phoenix-based M3 Cos., includes plans for luxury condos, a boutique hotel, a medical office park and stores. At issue is the height of the proposed project, which at its highest point is 98 feet, or nine stories. More...

Last week's biggest real estate deals in the Valley

A Scottsdale developer, an investment company partner and a medical doctor are among the buyers and sellers in this week's priciest home sales. $5,860,000.  More...

Home permits hit 5-month high in January

Home building across metropolitan Phoenix hit a five-month high in January, signaling spec homes finally could be selling and more buyers are getting back into the market. Single-family permits climbed to 2,876 last month, according to RL Brown's Phoenix Housing Market Letter. That's the highest level since August 2006, when builders pulled permits for 3,014 new homes. Brown attributes the uptick in housing construction to builders cutting prices on homes and drawing buyers to some fringe communities once again. More...

Freeway-issues deadline set

The Ahwatukee Foothills Village Planning Committee has organized more than 100 comments and questions about the proposed South Mountain Freeway from the public. Now it wants some answers.
On Monday, the committee set a two-month deadline for responses from various city, state and federal leaders so it can discuss the planned freeway again at its April meeting.

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Upscale retail project has name: Scottsdale Crossing

Scottsdale's upscale new retail center known informally as "Kierland Uncommon" now has a proposed site plan and an official name: Scottsdale Crossing. "Scottsdale Crossing will create an upscale mixed-use project that will reflect the changes in the marketplace and relate to the surrounding context," the developers said in their application. The project at 15101 N. Scottsdale Road, would be built across the street from Westcor's Kierland Commons. More...

Proposed residential resort would replace aging buildings

A $450 million luxury residential resort could replace the deteriorating northwestern corner at 44th Street and Camelback Road. "The residents at Camelsquare will be able to go down to the main grounds and be able to walk their dogs and walk in trees, flowers and garden areas and stay in the community and go to the local neighborhood stores or restaurants," said Scott Schirmer, managing partner and the project's lead manager for the M3 Companies. More...

Proposed residential resort would replace aging buildings

A $450 million luxury residential resort could replace the deteriorating northwestern corner at 44th Street and Camelback Road. "The residents at Camelsquare will be able to go down to the main grounds and be able to walk their dogs and walk in trees, flowers and garden areas and stay in the community and go to the local neighborhood stores or restaurants," said Scott Schirmer, managing partner and the project's lead manager for the M3 Companies. More...

Spectrum's boundaries on table

Gilbert Public Schools Superintendent Brad Barrett is expected to propose attendance boundaries for Spectrum Elementary during Tuesday's school board meeting. The proposal calls for residents living south of Pecos Road and east of Val Vista Drive to attend the Elementary No. 28 that is being built and scheduled to open in August.  It means about 150 current Spectrum students would attend the new K-6 school. More...