RBN assets outperformed Lifestyle assets, as national rents increased 0.1% for RBN apartments. Phoenix was the leading metro for RBN rent growth, up 0.3%, compared to flat rent growth for Lifestyle apartments in the Valley of the Sun. The divergence of rent growth between the two asset classes is also apparent in the year-over-year data for Phoenix. RBN rent growth was 6.2% year-over-year, while Lifestyle rents increased 2.0%. If this trend continues, affordability issues may emerge for workforce housing in Phoenix.
Ross Vroman says the construction and other technical industries need not only more workers up and down the organizational chain but they also need to rebuild their employment and talent pipelines so employees can move up within the industry and become supervisors, project managers, foremen and experts in their field. Vroman is executive vice president and general manager with Skanska USA Building Inc. in Phoenix.
The commercial real estate industry's chief lobbying group Tuesday urged lawmakers to take a measured approach in deciding on changes to how commercial property and other corporate assets are taxed, cautioning that the elimination of the deduction for interest on debt and reducing the tax rate for pass-through business income could cause severe damage to the U.S. economy.
15,878 Units Under Construction
In addition to the 15,878 units currently under construction, there are 13,415 planned and 12,620 units noted as Prospective. That's a total of 41,913 units.
Email Jim for detailed list of new construction or use the map link above.
Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
CLICK HERE for a detailed list of Apartments Available or use the map link above.