Commercial permits were recently taken out in the metro area to build: EAST SIDE A $21 million, 208-unit apartment complex, plus recreation building, called Presidio Trails at 9190 E. Old Spanish Trail. The owner is Presidio Trails Development LLC and the contractor is MCCW Builders. A $13.4 million Sante Transitional Rehab Center at 2040 N. Wilmot Road. The owner is ANL Investments and the contractor is M T V General Contractors. A Walmart expansion, valued at $6.6 million, at 7150 E. Speedway by Walmart Stores Inc. The contractor is Sletten Construction Co. A $5.6 million Dick’s Sporting Goods at 6327 E. Broadway. The owner is BP Wilmot Plaza LLC and the contractor is Barker Morrissey. A $3.6 million Family Self Storage (six buildings) at 8950 E. Speedway. Owner is Brown Garold C. Family L and contractor is Sierra Land Surveying & Development. NORTHWEST SIDE The $8.77 million Aerie Riverwalk 83-unit apartment complex at 4115 W. Aerie Drive, by Alta Vista Communities with contractor Preferred Apartment Builders. SABINO CANYON A $2.5 million Avilla Sabino Canyon 23-unit apartment complex at 3515 N. Sabino Canyon Road, by Alta Vista Communities Sabino-River West LLC. Preferred Apartment Builders is contractor.
Tucson’s slow struggle out of the muck and mire of the recession continued to plague the nonresidential real estate market in 2014, local brokers say. The city improved slightly on most fronts, particularly in the retail sector where the current vacancy rate is 7.8 percent, down from 8 percent in 2013, but growth is expected to remain sluggish in 2015. Hank Amos, CEO and chairman of Tucson Realty & Trust Co., said during the company’s forecast meeting Thursday that a distinct pattern has emerged over the last five years.
WASHINGTON Call them the prodigal millennials: Statistical measures and anecdotal reports suggest that young couples and singles in their late 20s and early 30s have begun making a belated entry into the home buying market, pushed by mortgage rates in the mid-3-percent range, government efforts to ease credit requirements and deep frustrations at having to pay rising rents without creating equity.
Tucson-area home prices continued to flatten in 2014, with median prices rising less than 5 percent from the prior year, according to the Tucson Association of Realtors Multiple Listing Service. The average sale price for listed homes in December was $205,015, up nine-tenths of a percent from November and 1.3 percent higher than in December 2013, the Realtors said.
PHOENIX — A special Arizona law designed to protect homeowners from lenders does not apply if the house was never built, the state Supreme Court ruled Friday. In a victory for banks and other lenders, the justices said they can go after some borrowers who default on their loans if the value of the property is less than the amount owed.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Tucson Association of REALTORS® Multiple Listing Service (TAR MLS), the Green Valley/Sahuarita Arizona Multiple Listing Service (GVAR MLS), and the Southeast Arizona Multiple Listing Service, Inc. (SAAR MLS). Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX/RETS data is deemed reliable but is not guaranteed accurate by the MLS.
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