John Karadsheh
If you have looked around Mesa lately, it is evident that change is afoot. From the new Cubs stadium finishing up at Dobson and the 202, to the recent announcement that Apple is coming to Mesa, there is a lot going on in our city.
Just a few years ago, the recession hit Mesa hard. Businesses shuttered, the Cubs threatened to leave, and neighborhoods were full of foreclosures and short sales. During that critical time, under the stellar direction of Mayor Scott Smith and his hardworking economic development team, Mesa sought out new opportunities, and implemented a plan for a stronger city.
Bright Spots in Mesa
Entertainment and Tourism
The Cubs will begin the 2014 Spring Training Season in their amazing new 15,000-seat stadium, featuring state-of-the-art training facilities. Additionally, the Oakland Athletics signed a 20-year deal to stay in Mesa, and will move to a renovated Hohokam Stadium. Spring Training in Mesa will be better than ever. The Mesa Arts Center also has continued to expand its offerings of world-class entertainment…and we can’t forget about all the great golf courses.
Higher Education
Since January 2012, Mesa has announced that Benedictine University, Westminster College, Wilkes University and Albright College will all be opening in the city. Additionally, this summer, Grand Canyon University announced it would be building a $150 million satellite campus, at Eastmark, by the Gateway Airport. Arizona State University Polytechnic at Gateway currently educates more than 10,000 students, and steadily is growing, while Mesa Community College serves more than 25,000 at its campuses.
Aviation
The Phoenix–Mesa Gateway Airport is among the fastest growing hub airports in the country. In 2012, it serviced more than 1.3 million passengers, a rapid growth from the only 350,000 passengers serviced in 2008. Gateway hosts more than 40 companies, and recently was reported to contribute more than $1.3 billion annually to the Arizona economy. Mesa’s Falcon Field Airport, the fifth busiest general aviation airport in the United States, hosts more than 100 companies, and contributes more than $2 billion to the local economy. The city also remains home to many aerospace companies, including Boeing, MD Helicopters and Cessna.
Transportation
Mesa’s great access to transportation, the Loop 202 and the U.S. 60, provide easy access to all areas of the Valley. Mesa residents also are within 20 minutes of both Phoenix Sky Harbor International Airport and Phoenix-Mesa Gateway Airport. The light rail expansion, when completed, will service almost 10,000 weekly riders.
Apple
Of course, Apple will be great for Mesa and Arizona. But even better, is the fact this facility brings some of the company’s previously outsourced production back to the United States.
All of this positive growth for Mesa is paired with strong economic growth predicted for Arizona on the whole. According to an August report, by Moody’s Analytics, Arizona is expected to have the fastest job growth in the country, at 3 percent annually over the next five years.
What does this mean for real estate? Economic growth brings jobs, jobs bring people, and people need housing. While the real estate inventory is beginning to increase, analysts still are predicting home prices will continue to climb 9 to 12 percent annually, through 2014.
So, with great growth and development, strong city leadership, low property taxes, a broad selection of homes, great entertainment options, a growing number of restaurants, and easy access to all areas of the Phoenix metro area, Mesa will be the gem of the next decade, and one of the best places to invest and live in the Valley of the Sun.
John Karadsheh is a licensed REALTOR® with Coldwell Banker, Trails and Paths Premier Properties. He also is an Associate Broker, Accredited Buyers Representative, a Certified Residential Specialist, and was voted in the Top Five Residential Real Estate Agents in Arizona for 2012 and 2013 by Ranking Arizona, the Best of Arizona Business. You can contact John with any of your real estate questions. Call him at (602) 615-0843, or go to his Web site at www.BuyAndSellAZ.com.