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Ep. 113: Tempe Cuts Through Ice With New Entertainment District; How Much is Your Home Worth During the Superbowl; Are These Cooling Prices Leading to a Recession??
In this episode of "Kiss My Assets," Heather Andrews and Jamison Manwaring discuss recent developments in the Phoenix area. They recap the successful investor Open House and holiday party, which saw a significant turnout and provided an opportunity to reconnect with old acquaintances. They highlight the exciting news of a new battery manufacturing company looking to set up in Tucson, bringing 1,000 jobs and boosting the local economy. The lower cost of living and available office and warehouse space in Tucson make it an attractive location for businesses.
The conversation then shifts to the plans for a new arena in Tempe, proposed by the Arizona Coyotes hockey team. The project aims to create an entire entertainment district and arena, costing $2.1 billion. The development of the Tempe Town Lake area has transformed it into a popular destination, attracting businesses and companies like State Farm. They also discuss a massive master plan community called Arizona Farms, spanning 761 acres in Pinal County. This development, a mix of multifamily and single-family homes, aims to provide housing for the growing population in the area.
The hosts also touch upon the upcoming Super Bowl in Arizona, which presents a lucrative opportunity for homeowners to rent out their properties. With the influx of visitors, prices for rental homes are expected to soar, providing a chance to earn a substantial income. However, they advise potential hosts to consider the preparations and precautions necessary for successful rentals, such as depersonalizing the space and securing appropriate insurance.
Lastly, they mention the expansion plans of Taiwan Semiconductor, which is building a second chip plant in North Phoenix. The company initially intended to invest $15 billion but has now decided to allocate $40 billion to the project. This expansion garnered attention, including a visit from Apple CEO Tim Cook and President Biden. The hosts emphasize the positive impact these projects have on the local economy and job market, making Arizona an attractive destination for businesses.
Overall, this podcast highlights the vibrant economic activity and growth occurring in the Phoenix area, from new manufacturing facilities and entertainment districts to housing developments and major sports events.