Phoenix Activity Report:
Construction Blooms in the Desert

by Scott Blair

Construction in the Phoenix area is booming. From small projects to the largest, activity is flourishing in every facet of the market, from retail to office to government buildings.

The Valley of the Sun's building upswing is not just restricted to the suburbs - the core downtown areas of Phoenix, Scottsdale and Tempe are all experiencing large-scale infill projects. 44 Monroe in Phoenix, Hayden Ferry in Tempe and the Optima Towers in Scottsdale reflect a renewed desire for urban dwelling by current residents and newcomers alike.

The skyline of downtown Phoenix will be changing on a scale not seen since the 1980's.

Of course, all this good news does come with some caveats. Some contractors and architects are turning away work because they have too much backlog and not enough skilled labor. Skyrocketing material prices threaten program sizes and cause some owners to seek additional funding. Construction delays occur due to isolated shortages. Developers race to get out of the ground before interest rates climb and the current economic cycle changes.

This year's Phoenix Area Activity Report looks at a cross-section of this building boom by examining several key construction projects.

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