The Prescott Valley Planning and Zoning Commission is considering two proposals that could bring 385 rental homes and a 90-room hotel to the community. Trilogy Investment Co. plans to build the Villas at Prescott Valley, a 385-unit rental community, while Matticus Hospitality Group is requesting a rezoning and preliminary development plan for a one-acre site to build a 90-room Homewood Suites Hotel. Planning staff have recommended approval for both proposals.

The Litchfield Park City Council approved an $11.5M bond for projects related to the Litchfield Square downtown core development and associated infrastructure. The bond aims to supplement inflation and other cost increases, which had raised the project’s costs from $25M to $40M.

Florida’s home prices have increased by 73.5% in the past five years, with New York residents being the primary movers to the state. Meanwhile, companies are increasingly seeking office spaces in suburban areas, and commercial real estate faces challenges due to reduced property sales and leasing.