“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ I AM YOUR LAND / COMMERCIAL AND INVESTMENT REAL ESTATE SPECIALIST / LOOKING FOR OWNERS & BUYERS. Call me if you want to sell your property and need an estimated value. Prefer cell: 520-975-5207 or email me walterunger@ccim.net. A CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS .
By Catherine Reagor| January 26th, 2020
Metro Phoenix is expected to grow by 1 million people during the next decade.
That will be like adding a city the size of San Jose, California or Austin, Texas to the Valley.
The billion-dollar question is where all those new residents will live.
Most of the available land is on the edge of the West Valley and deep into Pinal County in the southeast Valley.
About 5 million people already call metro Phoenix home, and the region already faces infrastructure and housing affordability issues.
Mark Stapp, director of the Master of Real Estate Development program at Arizona State University, acknowledges the challenges.
“There are opportunities with our expected growth, but there are also issues that need to be addressed now,” Stapp said at an ASU event this past week called “Where will we put another 1 million people?”
Top Arizona developers and planners attended the meeting, which focused on how to accommodate the Valley’s next growth spurt.
VALLEY GROWTH SHIFT
About 35% of the Valley’s current population lives in Phoenix, 34% live in the East Valley, 22% in the West Valley and 10% in Pinal County, according to MAG.
In 25 years, metro Phoenix is expected to grow to 7 million people.
The growth is expected to shift with the population spread out like this: 30% living in Phoenix, 27% in the East Valley, 28% in the West Valley and 15% in Pinal.
ROADS AND WATER
But that growth cannot happen without the roads, water, sewer, electricity, jobs and shopping to support and serve it.
A massive investment in infrastructure is necessary for the thousands of new homes, retail centers and job hubs that would accommodate another million people.
Historically, new Valley homes have gone up before the freeways to serve them, straining existing transportation systems.
Eric Anderson, executive director of the Maricopa Association of Governments, said about 50 percent of Pinal residents currently commute to Maricopa County.
“About 100,000 people are stuck on Hunt Highway every day because there’s not enough money to fund that roadway’s expansion,” he said.
Pinal’s sales tax funding for freeways is about $18 million, barely enough to fund an interchange.
In the West Valley, an extension of the Loop 303 and construction of a new Interstate-11 west of the White Tanks, are also behind because of a lack of freeway funding. Maricopa County has about $460 million for freeway funding from sales tax proceeds.
Water is a wild card. It’s unknown whether every growth area will have a guarantee of adequate water supply for the foreseeable future. There are long-term questions about whether there is enough water to accommodate the expected growth in places such as Pinal County and Buckeye.
A recent report from ASU’s Kyl Center for Water Policy says there likely won’t be enough water available from the Central Arizona Project in the long term to replenish the groundwater used by all of the homes that are being planned.
“Metro Phoenix has plenty of land for growth,” said real estate expert Greg Vogel, CEO of Arizona Land Advisors Organization. “The issue is the cost of infrastructure and services for the land to be developed.”
MORE AFFORDABLE ROOFTOPS
Metro Phoenix’s relatively affordable housing prices have long driven the region’s growth. But rapidly rising home prices and rents are outpacing income gains, making the Valley much less affordable.
Homes priced at $300,000 or below — that Valley residents making the area’s median income can typically afford — already are in short supply.
To keep pace with growth, home builders need to construct more houses than they are now with prices that new residents can afford. About 23,000 new homes are expected to go up Valleywide this year.
“Builders can’t bring homes to market fast enough to meet demand now,” Arizona housing analyst Jim Belfiore said at the event. “That is pushing up prices, and pricing out a growing number of people from being able to buy.”
Zoning changes to allow greater density in new communities could help, most of the group agreed. But that would be up to Valley cities.
More jobs also are needed near Valley edge communities where new affordable homes can go up. Long commutes for residents mean higher transportation costs and make the decision to live in the outskirts less affordable.
“We have to watch our affordability, water, air and transportation challenges,” Vogel said. “We are doing better than other big metros handling those issues, but we could do a helluva lot better.”
Reach the reporter at Catherine.Reagor@arizonarepublic.com or 602-444-8040. Follow her on Twitter @Catherinereagor.
FROM ME:
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial en.wikipedia.org/wiki/CCIM I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS PLEASE CALL ME – cell: 520-975-5207 or email me walterunger@ccim.net
WEEKLY LAND SALES
“The major fortunes in America have been made in land.” John D. Rockefeller
WEEKLY INDUSTRIAL SALES:
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS
CLICK HERE FOR APARTMENTS FOR SALE:
Walter Unger CCIM
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS
“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ ARE YOU READY TO SELL OR PURCHASE YOUR INDUSTRIAL / OFFICE OR RETAIL BUILDING OR YOUR LAND in Phoenix, Maricopa County and Pinal County, Arizona, please call me. Office: 602-445-4113, , cell: 520-975-5207 or email me walterunger@ccim.net. … CLICK HERE TO VIEW ALL MY LISTINGS.
Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
History of Arizona from 900 BC – 2017 -Timeline.
8 Reasons You Should Invest in Land
History of Arizona from 900 BC – 2017 -Timeline.
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION
ARIZONA FACTS – YEAR 1848 TO 2013
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17
Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
Click here to find out what is a CCIM:
Click here to view my website:
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Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Walter Unger CCIM
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS
“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “
Also Call me if you need an estimated value of your Property.
Call me if you want to see a map with what is in the Construction Pipeline for Apartments.
Prefer cell: 520-975-5207, or email me walterunger@ccim.net. CLICK HERE TO VIEW ALL MY LISTINGS.
Check out my professional profile and connect with me on LinkedIn.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
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