AZ Commercial Construction Update

2 Bedroom / 2 Bath Condo 2725 E. Mine Creek Road #1209, Phoenix 85024For those investing in commercial construction here is a quick update on Multifamily AZ Commercial Construction.  This analysis comes from Michael Orr and the Cromford Report.

February 5 – December 2016 was another strong month for multi-family building permits, with a total of 1,127 units across Maricopa & Pinal counties. This brings the 12-month total to 9,645, the highest since January 2008 and well above most forecasts.

The annual totals for cities with more 20 permits were:

  1. Phoenix 4,493
  2. Tempe 1,486
  3. Chandler 1,143
  4. Gilbert 938
  5. Mesa 711
  6. Scottsdale 400
  7. Pinal County 162
  8. Goodyear 134
  9. Surprise 100
  10. Paradise Valley 46

It is not often we report multi-family permits for Paradise Valley.

If you’d like more information about our market please contact me.

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