Real Estate Design Awards 2021 > Arizona's "Academy Awards" for Commercial Real Estate

Hundreds of people tuned in Thursday night as AZRE magazine’s 2021 Real Estate Development (RED) Awards were held virtually on the Hopin platform.

“The Real Estate Development Awards — the RED Awards — are the Academy Awards of commercial real estate,” said Michael Gossie, editor in chief of AZ Big Media, which published AZRE. “This year, the only different between the finalists for the RED Awards and the finalists for the Academy Awards is that this year’s RED Awards finalists didn’t show up on Netflix first.”

Premier sponsors for the RED Awards are DP Electric and Willmeng. The virtual sponsor is DAVIS.

With a record-setting pool of nominees and finalists, the selection committee considered these factors when choosing a winner:

• Size of the project

• Location

• Construction challenges and opportunities

• Architecture and design

• Effect on the surrounding community

• And, in some cases, the economic impact of the project.

The presenters for the RED Awards included Danielle Puente, CFO of DP Electric; Mike Krentz, president at DAVIS; Rebecca Rhoades, senior editor at AZ Big Media; James Murphy, CEO of Willmeng; and Amy Lindsey, publisher of AZ Big Media.

Here are the winners of the 2021 RED Awards

Best Industrial Project under 200,000 square feet

Skybridge 106 & 107  

Developer: SkyBridge Arizona  

General contractor: Graycor Construction Company

Architect: ADM Group 

Best Industrial Project between 200,000 and 500,000 square feet

VB | 143  

Developer: Baker Development Corporation 

General contractor: Layton Construction

Architect: Butler Design Group  

Best Industrial Project more than 500,000 square feet.

The Hub  

Developers: Creation and Clarius Partners

General contractor: LGE Design Build

Architect: LGE Design Group

Hospitality project of the year

Canopy by Hilton Tempe Downtown 

Developer: Driftwood Capital

General contractor: SUNDT Construction

Architect: Allen+Philp Partners 

Best education project K-12

Pat Tillman Middle School Rebuild 

Owner: Balsz School District

General contractor: McCarthy Building Companies, Inc.

Architect: DLR Group

Higher education project of the year

The University of Arizona Health Sciences Innovation Building

Owner: University of Arizona

General contractor: Kitchell

Architect: CO Architects with Swaim Associates

Multifamily project of the year

7180 Optima Kierland 

Developer: Optima, Inc.

General contractor: Optima, Inc.

Architect: Optima, Inc.

Healthcare project of the year

Banner Ocotillo Medical Center 

Owner: Banner Health

General contractor: Okland Construction

Architect: SmithGroup

Retail Project of the Year

Trail House at Enchantment Resort 

Owner: Enchantment Group

General contractor: PWI Construction, Inc.

Architect: Gluckman Tang Architects

Recreation or Public Works Project of the Year

Eloy City Hall 

Owner: City of Eloy

General contractor: CORE Construction

Architect: SmithGroup

Senior Living Project of the Year

Mirabella at ASU 

Developer: Mirabella at ASU LLC.

General contractor: McCarthy Building Companies

Architect: Ankrom Moisan

Redevelopment Project of the Year

Arizona State University Hayden Library Reinvention

Owner: Arizona State University

General contractor: Holder Construction Company

Architect: Ayers Saint Gross

Office Interiors Project of the Year

DoorDash 

Developer: Lincoln Property Company

General contractor: Holder Construction

Architect: McCarthy Nordburg

Best office project less than 150,000 square feet

The Collab 

Developer: Creation

General contractor: LGE Design Build

Architect: LGE Design Group

Best office project more than 150,000 square feet

777 Tower at Novus Innovation Corridor

Developer: Ryan Companies US

General contractor: Ryan Companies US

Architect: DAVIS

Judges Awards

Catalina Parking Structure

Developer: Holualoa Companies

General contractor: Kitchell

Architect: GLHN Architects

Heidi’s Village

Owner: Virginia B. Jontes Foundation

General contractor: CHASSE Building Team

Architect: Cawley Architects

Phoenix Suns Verizon 5G Performance Center

Developer: Suns Legacy Partners, LLC

General contractor: AECOM / Hunt

Architect: DFDG Architecture

Architecture Firm of the Year

Butler Design Group

General Contractor of the Year

LGE Design Build

Developer of the Year

Opus Development Company

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Economic Innovation Group: OZones State-of-The-Marketplace 3 Years Later

Catching up In February the Economic Innovation Group released a new report titled 

"Opportunity Zones: State of the Marketplace." 

The greatest missing piece of the OZ experiment has been the lack of reporting requirements to provide timely information on OZ investments.
The report concludes by outlining needed policy improvements, including bipartisan consensus for immediate legislative action to restore the impact evaluation arm that was always intended to be part of OZs but was removed from the final statute for procedural reasons . . .

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By Kenan Fikri, John Lettieri, and Daniel 

Opportunity Zones: State of the Marketplace

Read Report

 

Three years since Opportunity Zones became law and one year since final regulations were released, the report explores whether the policy is working as intended, what its early effects have been, and details the improvements needed to ensure the policy fulfills its promise. While the early findings from the field provide cause for optimism, there is room for policy improvements and continued opportunities to educate investors, local leaders, and other stakeholders. 

EIG's report finds that the Opportunity Zones (OZ) incentive is proving to be among the most flexible development finance tools the federal government has created. Over the past three years, OZs have moved tens of billions of dollars, 70 percent of which likely represented investment that would not have otherwise been directed to OZ census tracts according to the White House Council of Economic Advisers (CEA).

From rural Alabama to the steel towns of Pennsylvania, the report highlights the role of OZs in unlocking equity investment in places long overlooked by traditional investors. Yet, local capacity to understand and utilize OZs varies immensely across the country, and much remains to be done to educate stakeholders on the incentive and improve the policy.

Download the Report

The greatest missing piece of the OZ experiment has been the lack of reporting requirements to provide timely information on OZ investments. The report concludes by outlining needed policy improvements, including bipartisan consensus for immediate legislative action to restore the impact evaluation arm that was always intended to be part of OZs but was removed from the final statute for procedural reasons. You can read the full report and explore the policy recommendations here.

 

------------------------------------------------------------------------------------------------------------------------- Added note: a discussion on expanding access to broadband and digital opportunity in some of the nation's most distressed communities.  The report concludes by outlining needed policy improvements, including bipartisan consensus for immediate legislative action to restore the impact evaluation arm that was always intended to be part of OZs but was removed from the final statute for procedural reasons. You can read the full report and explore the policy recommendations here.