Builders still betting on Phoenix

The first article, 3 builders bet on Valley housing turnaround, from the Arizona Republic, reports that three new homebuilders are entering the Phoenix housing market, undeterred by the glut of unsold houses and high prices left over from the housing boom. Mattamy Homes of Canada, John Laing Homes of California and Orleans Homebuilders of Pennsylvania say that now is the right time to stake their claim in one of the most competitive housing markets in the country. All three builders will target move-up buyers, while Mattamy will also target first-time buyers. "This is a great opportunity for a builder to get into a market that has been tough to get into for the last five years," said Mark McHone, president of Mattamy's Arizona division. The market may be struggling now, but the newcomers expect it to rebound and be a profitable place to do business. The new builders are going after finished lots: land that already has streets, utilities, and other off-site infrastructure improvements so all the builder has to do is pull a building permit and start construction.

http://www.azcentral.com/arizonarepublic/news/articles/0331newbuilders0331.html#

The second article, Report shines a light on future development trends, from the Business Journal of Phoenix, reports that Colliers International released a forecast on what the Valley will look like in the year 2020. Highlights of the 13-year forecast include:
§ About 50 percent of the growth will be in the West Valley, where developers are master planning more than 50 square miles west of the White Tank Mountains.
§ Downtown Phoenix and the area near 24th Street and Camelback Road will continue to be the locations of choice for Class A office space in the future. But Class A development also will continue to evolve into the North Scottsdale Airpark and Deer Valley areas, around the Glendale sports complexes.
§ Interstate 17 is a corridor of infill opportunities. Older, existing products that no longer are efficient or functional will be torn down or remodeled into new products that serve the needs of the market.
§ Williams Gateway may well become the East Valley's version of Southern California's Inland Empire, an area that boasts one of the most robust economies in the United States. Many investors have begun to invest billions of dollars on this very idea.

http://phoenix.bizjournals.com/phoenix/stories/2007/04/02/story13.html?t=printable

The third article, WV to mirror north Scottsdale, from the Arizona Republic, also reports on Colliers International's report and has high expectations for the Southwest Valley. "The nine-mile corridor along the I-10 from Loop 101 to the Loop 303 will resemble the current image of North Scottsdale, with high-end retail, power centers, Class A office buildings and high-end demographic housing," the report said. A section of the report on retail growth focuses on Buckeye. It notes the huge area that Buckeye has annexed and says that 25 percent of all new homes in the Valley will be built in the town.

http://www.azcentral.com/community/swvalley/articles/0331swv-reportcover31Z5.html