Construction Jobs on the Rise; Anchor Centre Stuck in Redevelopment Purgatory
- Oct 28, 2011
Not long ago the U.S. Census Bureau revealed that Phoenix is one of the cities that has been building a fair amount of houses over the past decade. So it’s not surprising that the Associated General Contractors of America has released statistics indicating an increase in the number of construction jobs in the state of Arizona.
In fact, Arizona has added 8,200 construction jobs during the past year, or an increase in percentage of 7.6 points. The increase is even more impressive considering the fact that just in September, 3,500 jobs were gained by the state. This uptake in construction jobs brings the state’s total to 115,700 jobs, the Phoenix Business Journal reports. Texas has added 35,400 new construction jobs, while Georgia has seen a massive loss of 13,900 jobs, according to the report.
The jobs are indeed warranted as a number of buildings in the Phoenix area are in dire need of renovation. Some other renovation projects are in need of a jumpstart, like local developer David Warren’s plan to breathe new life into Anchor Centre. The renovation of the office park will take its cues from the Esplanade, The Arizona Republic reports.
However, the plan has not been working as well as it should. The local office market has not exactly perked up during past months and is still being hit by the recession. Critics are acting against the project that aims to go for a pedestrian-friendly space that will include office and retail facilities. The property was acquired by DW Capital Partners along with a New York investor back in 2010 for $52 million. Its state of disrepair reflects the lack of attention paid to the property over the years, but it has considerable potential.