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I am excited to bring you a fresh roundup of Arizona’s red-hot real estate, infrastructure, and tech developments. Phoenix just saw a 4.6% jump in new-home closings, pushing it into the U.S. top 3 housing markets. Meanwhile, TSMC’s $30B surge is accelerating Arizona’s global semiconductor dominance. On the multifamily front, 25,000 new units are reshaping vacancy strategies, while $2.77B in infrastructure upgrades—from light rail to Loop 101—redefine mobility.
From a wealth management lens, opportunities abound in high-end rentals, industrial diversification, and adaptive reuse strategies. Tax impacts span local inflows, abatements, and implications of cost-driven revaluations. Legislatively, updated building codes and CHIPS Act incentives are recalibrating the game. For value stability, energy-efficient design, modular builds, and green-certified developments help hedge long-term risk. And yes, sustainability and smart-city goals are no longer buzzwords—they’re being hardwired into zoning, transit, and even demolition plans. Dive into the highlights below!
In April 2025, 5,416 newly built homes closed in the Phoenix metro—a 4.6 % increase year-over-year, per ARMLS data Scottsdale Desert Inspections. Major builders such as D.R. Horton recorded 2,680 closings through mid‑2025, marking Phoenix as a top‑3 new‑home market in the U.S.
For high‑net‑worth investors, this surge increases opportunities in residential value‑add, while local transaction taxes benefit municipal revenues. Arizona’s builder‑friendly permitting laws smooth supply chain, supporting long‑term price support even amid interest rate shifts. Sustainability programs tied to solar incentives enhance future‑proofing, and smart‑growth zoning in places like Laveen and East Mesa aligns with infrastructure planning.
The Phoenix metro delivered 25,000 new multifamily units over the past 12 months, with an additional 27,000 under construction (6.7 % of existing inventory) as of January 2025.
Downtown Phoenix, Tempe, and Southwest Valley saw vacancy rise modestly—an opening for rental yield optimization through targeted renovations. These additions expand property tax base, while local tax abatements for infill apartments support transit‑oriented development. Regulatory emphasis on reducing parking minimums and incentivizing energy‑efficient design helps future resilience. Smart‑city integration via EV‑charging and water‐savings systems adds to long‑term asset stability.
In January 2025, High Street Residential and Mitsui Fudosan America began construction on a 215‑unit Class A luxury complex in North Scottsdale, scheduled to deliver mid‑2027.
For wealth managers, this adds a high-end rental avenue catering to affluent demographics. The project contributes sizable property tax inflows and benefits from Scottsdale’s streamlined zoning and infrastructure investments. Market diversity helps hedge across economic cycles, while green building standards (likely LEED or similar) ensure sustainability credentials. Integration with Scottsdale’s trail and amenity networks furthers the city’s smart‑infrastructure vision.
Phoenix and surrounding areas project $2.77 billion in 2025 construction volume, featuring major works such as $309 million for Sky Harbor Terminal 3 North Concourse and $553.6 million for I‑10 improvements near Tucson/Benson.
This sizable public investment stimulates construction employment, diversifies municipal revenues, and supports commercial asset performance over time. Infrastructure bonds finance many of these, impacting tax liabilities and rating agency assessments. Future‑proofing comes via expanded public transit and airport systems, while regulatory oversight ensures resilience planning. Smart‑city integration includes improved connectivity and sustainability through new energy‐efficient terminals.
ADOT began construction in January 2024 to widen a 4.5‑mile stretch of Loop 101 between Shea Blvd and Princess Drive, with completion due early 2026; work also began September 2024 on a 6-mile segment between 75th Ave and I‑17, targeted for early 2027.
This enhances regional mobility, supporting suburban residential and commercial land appreciation along corridor communities like Scottsdale, Phoenix (North), and Glendale. The project is funded through state transportation budgets and federal infrastructure grants—boosting indebtedness but enhancing capital structure stability. Wider capacity reduces congestion risk, supporting future value. Smart‑growth integration includes ITS elements for traffic flow and EV‑readiness.
Construction continues on the 500,000‑sq‑ft Verrado Marketplace, a power center at I‑10 and Verrado Way in Buckeye, according to Phoenix Business Journal’s “Projects to Watch 2025” list.
This significant retail‑commercial node boosts commercial tax rolls and supports passive income strategies through commercial leases. Buckeye’s enterprise zone incentives and zoning frameworks support such large-scale retail. Positioning this asset along growing suburban corridors enhances future‑proof stability amid shifting retail footprints. Sustainability is embedded through planned solar canopy parking and pedestrian connectivity.
Taiwan Semiconductor Manufacturing Co. (TSMC) announced in July 2025 that it will expedite volume production at its second of six planned fabs in north Phoenix by several quarters, following strong interest from U.S. clients. In Q2 2025, the company reported roughly US $30 billion in revenue—a 44 % year‑over‑year increase—with Arizona fabs ultimately slated to produce 30 % of its top-tier chips.
From a wealth‑management perspective, this expansion underpins Arizona’s long‑term growth potential in manufacturing assets. Tax-wise, the increased payroll and equipment investments will boost state and local revenues. It also reflects federal and state incentives aligned with the CHIPS Act, now furthered by local regulatory coordination. The accelerated timeline enhances future‑proofing against global supply‑chain volatility, while also supporting TSMC’s ESG‑forward plant designs and energy‑efficiency standards.
Scheduled to begin in early 2026, Starlux Airlines will operate 3–4 weekly non‑stop flights between Phoenix Sky Harbor and Taipei, marking Phoenix's first direct Asian connection.
This bolsters Phoenix's international connectivity—positively influencing high‑net‑worth mobility and cross‑border asset management. Enhanced air service also broadens taxable tourism and corporate travel revenue. Strategically, it signals state stakeholders leveraging economic development policies to attract global firms. Moreover, this connectivity supports resiliency in business continuity for Arizona‑based semiconductor and tech firms. From a sustainability standpoint, increased air traffic is being offset by projected carbon‑offset initiatives associated with new routes.
The City of Phoenix will implement the 2024 Building Construction Code on August 1, 2025—with a grace period and compliance resources for ongoing projects.
With implications for asset valuations, this revises structural and energy‑efficiency standards, potentially affecting replacement‑cost insurance and long‑term capital planning. Tax offices will need to recalibrate assessment calculations tied to compliance costs. This aligns with state‑level regulatory shifts favoring climate resilience. Over time, properties built to updated codes should retain value better in hot‑climate markets. Notably, the new code includes provisions for sustainable materials and cooling‑efficiency standards—key to Phoenix’s smart‑city agenda.
According to Rider Levett Bucknall, Phoenix construction costs rose 4.42 % YoY in Q2 2025 (Apr‑Jun), down from 5.42 % in April 2024.
Higher build costs feed directly into real estate investment models and influence leverage ratios for high‑end developments. The continuing trend may spur increased use of tax‑credit programs (e.g. LIHTC) to offset financing burdens. It also reflects regulatory headwinds from inflation‑linked labor and material codes. Developers are responding with modular or prefabricated systems to contain cost risk—bolstering long‑term asset stability. Sustainability-driven material choices are also shaping cost curves, tied to green‑certified construction standards.
In early 2025, Phoenix recorded just 170,521 SF in new office construction across three projects—a 100 % YoY decline—while office vacancy surged to 18.7 %, prompting adaptive reuse evaluations on 16.5 million SF.
For investors, this signals shifting demand toward residential and mixed‑use assets, affecting wealth‑allocation strategies. It may also open new opportunities for tax incentives tied to adaptive reuse programs. Regulatory flexibility on zoning and historic‑preservation approvals has eased conversions. This transition enhances long‑term value resilience, particularly where residential demand remains strong. Redeveloped properties can meet sustainability goals via energy retrofits and reduced vacancy.
On July 15 2025, Apache Junction City Council rezoned 36 acres to allow Sundt Construction to build a 65,000 SF offsite manufacturing facility, creating around 100 jobs.
This ground-up industrial project supports portfolio diversification in exurban markets. Local tax revenue will benefit from construction and ongoing operations. It was enabled by city-level zoning reforms designed to attract regional manufacturing. The facility adds industrial-strength to the area’s real-estate base—reducing exposure to volatile residential cycles. It's designed with lean manufacturing sustainability principles, including water reclamation and renewable energy readiness.
PCL Construction launched a new Phoenix-based commercial buildings office on April 30 2025, expanding its infrastructure presence.
This local operational base enhances bid access and project management scalability for large-scale commercial and civic builds—boosting investor confidence. It also increases wage tax revenue and compliance oversight. The expansion follows legislative support for public-private infrastructure partnerships. With resources embedded locally, asset timelines are more predictable. PCL is known for integrating sustainability targets like LEED and net-zero-ready frameworks into its projects.
The new B Line of the Valley Metro Rail, running from Metro Parkway to Baseline/Central Ave, commenced service on June 7, 2025, expanding Phoenix’s light‑rail network to 27 stations.
This transit expansion influences property values along the corridor, especially for multifamily and transit-oriented commercial developments. The project enjoyed funding via regional transit taxes and state matching grants. It also fits within statewide infrastructure resilience mandates. Proximity to mass transit increases asset durability and demand. The system includes regenerative braking and electric systems aligned with Phoenix’s sustainability commitments.
Demolition of the shuttered Metrocenter mall began November 2024 to make way for a $750 million redevelopment encompassing retail, apartments, and services.
This urban village conversion is expected to reinvigorate West Phoenix real-estate demand and boost future tax revenues from mixed-use property. It was supported by redevelopment incentives and city plan alignment. Introducing residential alongside retail offers resilience by hedging income sources. Smart-city infrastructure such as stormwater retention and EV‑ready charging is planned.
Across Arizona, cities are fast-tracking cutting-edge infrastructure—from AI-powered windows at Phoenix Sky Harbor to digital equity hubs in underserved Phoenix
As cities worldwide rapidly evolve with cutting-edge digital governance and people-centric technology, the opportunities for future-proof investing and sustainable urban
That wraps up this week’s edition of Phoenix Market Pulse! Whether you’re eyeing suburban growth corridors, rethinking office-to-resi conversions, or investing in sustainable tech-driven infrastructure, Arizona is pulsing with possibilities. Don’t forget to follow me on social media for real-time updates and trends. If you’d like to explore how these insights apply to your personal portfolio or investment strategy, I warmly invite you to schedule a private Zoom strategy session. Let’s build your future—together.
Until next week!
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You can listen to all AZique real estate news and insights on Spotify or any other preferred platform of yours: YouTube, Amazon, Audible, Apple Podcast. Daily Arizona real estate market pulse – straight from Sonoran Desert to you where ever you are!
Always fresh, smart, data-driven from Sonoran Desert straight to your mailbox
Click here to explore current mortgage rates. Rates may vary based on credit score, loan type, and lender policies. For the most accurate estimate, consult with a lender.
Nice to meet you! I’m Katrina Golikova, and I believe you landed here for a reason. I help my clients to reach their real estate goals through thriving creative solutions and love to share my knowledge—giving lots of freebies along the way.
See You Soon,
Katrina
You can listen right now to current news
You can listen to all AZique real estate news and insights on Spotify or any other preferred platform of yours: YouTube, Amazon, Audible, Apple Podcast. Daily Arizona real estate market pulse – straight from Sonoran Desert to you where ever you are!
Always fresh, smart, data-driven from Sonoran Desert straight to your mailbox
Click here to explore current mortgage rates. Rates may vary based on credit score, loan type, and lender policies. For the most accurate estimate, consult with a lender.
Realty One Group
Katrina Golikova
Real Estate Professional
License ID: SA696603000
17550 N Perimeter Dr, Scottsdale, AZ 85255
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