Jump Start the New Year!

The Valley has plenty of exciting things planned for our economy in 2012. We’ve finally started to see a turnaround in the housing market, as well as developers and prospective employers returning to the Valley.

In Goodyear, both the Cancer Treatment Centers of America and West Valley Hospital have submitted plans for expansion. As well, construction of a new Dick’s Sporting Goods distribution center will be nearing completion. Dick’s Sporting Goods intends to start hiring new employees in late summer or early fall, and the distribution center will supply Dick’s stores in the West. The city is also noticing decreasing retail vacancies, and an increased amount of new home permits.

In Buckeye, the town is opening its first Park and Ride to help with the commute from Buckeye to Phoenix. The new Park and Ride will be opening on January 23^rd, and is located on the Southwestern corner of Jackrabbit Trail and Palm Lane. The construction of the new fire station in Verrado community is expected to be completed in March, with a grand opening planned for April.

In Tolleson, the city is looking to build its La Entrada development. La Entrada is a $9 million, 5.5 acre cultural and retail center located off of 91^st Avenue and Van Buren.

For the entire West Valley, construction on the next multi-level freeway interchange will begin this year. The interchange will connect the I-10 directly to the Loop 303 near Cotton Lane in Goodyear. The Loop 303 will also be receiving improved six-lane segments between Thompson Road and Grand Avenue. The project is expected to be completed and open to traffic in 2014.

In Mesa, Benedictine University, a private four-year institution, was proud to announce yesterday that it hopes to begin offering classes in downtown Mesa in the fall of 2013. They plan to move into the old Tri-City Service Center building, and then grow to a 1,500-student residential campus by its 10^th year of operations. Establishment for a Mesa campus is pending based on secular and church approval, along with a permit from the Arizona State Board for Private Postsecondary Education. If approved, the move will coincide with the plans for expansion of the light rail, which is expected to begin operating mid-decade.

In Chandler, the developer for the luxury townhomes in San Marcos will start construction on the last phase of the San Marcos Townhomes beginning next month. They will be the same as the first phases built nearly four years ago, but at a much lower price – beginning from the upper $100,000’s as opposed to being sold in the mid $300,000’s. The developer, Desert Viking, also announced plans for more shops, restaurants, and a parking garage in downtown Chandler, after construction on the townhomes are completed.

This news for our local economy means great things for our residential housing market. Low home prices combined with record-low interest rates make any purchase an amazing deal, regardless if your plan is to purchase as a homeowner or as an investor. Rental vacancies are incredibly low and still expected to decrease, and housing will become more desirable as these new development plans bring more life back into our community. Remember, as a full-service real estate brokerage we offer buyer, seller, investor, and property management services. Contact us today for any of your real estate needs!