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Day 2/15 - Phoenix, AZ
A one year review of all CRE-related City Council + Planning Dep. decisions in Phoenix, AZ.
Daniel Heller
July 21, 2025
This article is part of a series where we release all City council + planning dep. decisions for the top 15 cities tracked nationwide. You can find all decisions for Phoenix, AZ here.
Welcome to Day 2 out of 15.
From July 2024 to July 2025, Phoenix, AZ, rezoned 670+ acres, which include at least 70 parcels, projected to deliver ~6,400 new housing units.
They also spent ~$1.05B in CRE projects and infrastructure development, $520M of which was directed specifically toward projects and services categorized as “Affordable Housing”.
Findings
No article about CRE in Phoenix, AZ would be complete without mentioning the 2,300-acre Halo Vista Project near the TSMC Development.
A conceptual plan of Halo Vista. The big white boxes near the center are TSMC’s new chip fab.
Mack Real Estate Group provided the only bid at the Arizona State Land Department (ASLD) auction and acquired 2,340.53 acres for the minimum bid of $56,280,000 earlier this year. According to early estimates, the development will include 12 million sqft of industrial, 3.5 million sqft of flex-tech/office, 500k sqft of retail, and over 9,000 MF units. Once completely built-out, Halo Vista is anticipated to generate 62,000 jobs.
Rezonings
Over the past 12 months, the Phoenix has rezoned ~670 acres. This includes a 51.37 AC PUD by Mayo Boulevard projected to deliver 1,400 units, as well as a 10.75 AC rezoning at Thomas Road projecting to deliver 288 units.
ADUs
The most impactful decision in the last 12 months is Phoenix’s Citywide legalization of up to two ADUs per residential lot. By permitting ADUs “by-right”, the City council has potentially unlocked thousands of new, naturally affordable housing units.
Before the introduction of this legislation in November 2024, we’ve tracked a multitude of smaller projects that received approval to include ADUs on their lots.
Affordable Housing
In the last 12 months, the City spent $1,059,571,325 and $520,220,000 for affordable housing creation, preservation, rental subsidies, and homelessness resolution services.
Some new affordable housing developments/rehabs can be seen here:
Project Title | Investment Amount | Investment Type | Purpose | Affordable Housing |
Mayo/Brooks Rehab Facility | $125,000,000 | Lease Revenue Bonds | Healthcare Facility | No |
Central & Madison (Aardex) | $117,000,000 | Project Cost (GPLET) | Mixed-Use Development | Yes |
69th Ave & Thomas Rd (NRP) | $59,000,000 | Project Cost (GPLET) | Mixed-Income Housing | Yes |
Mesquite Terrace Apts | $48,000,000 | Revenue Notes | Affordable Housing | Yes |
Lift Station 40 Rehab | $44,162,035 | City Contract | Wastewater Infrastructure | No |
Memorial Towers | $34,000,000 | Revenue Bonds | Senior Housing | Yes |
Wild Rose Flats | $30,941,125 | Loan/Bonds | Affordable Housing | Yes |
Helen Drake Senior Center | $30,800,000 | Loan/Bonds | Senior Housing | Yes |
Glendale Apts | $12,000,000 | Revenue Notes | Senior Housing | Yes |
Senior Bridge Project | $9,765,746 | HOME Loan/County Funds | Senior Housing | Yes |
Total (All Projects) | $1,059,571,325 | Various | Various | |
Total Affordable Housing | $520,220,000 | Various | Affordable Housing |
Methodology
ReZone tracks all CRE-related City Council and Planning Department decisions. We meticulously categorize them (see data dictionary) and record decision details such as Size_Dollars, Size_Units, Size_Acres, Asset_Class, Property_Type, Long/Lat, Owner, Developer, etc.
It’s important to state that we only focus on City council & planning department data. For example, if a developer were to build 1M+ SFR homes by-right (and thus wouldn’t have to appear in front of the City council), then we wouldn’t track that.
However, we believe that zoning, which is mostly controlled by the City council & planning department, has an incredibly large impact on local real estate markets and want to highlight some key decisions and accentuate some major trends/directionality.
We’ll be continuing to monitor the City Council & Planning Department decisions and if you want to get email alerts every time new CRE-related decisions in Phoenix happen, then feel free to sign up here.
Bye now,
Daniel Heller
[email protected]
Our publishing schedule:
Day 1: Denver, CO
Day 2: Phoenix, AZ
Day 3: Louisville, KY
Day 4: Seattle, WA
Day 5: San Francisco, CA
Day 6: New York, NY
Day 7: Houston, TX
Day 8: Atlanta, GA
Day 9: Charlotte, NC
Day 10: Chicago, IL
Day 11: Columbus, OH
Day 12: Jacksonville, FL
Day 13: Los Angeles, CA
Day 14: Nashville, TN
Day 15: Philadelphia, PA