Population growth pushes Phoenix office vacancies to record lows

Executive Director of the Master of Real Estate Development program Mark Stapp says the city's identity is evolving and we have to mature if we are going to continue increasing because we simply can't accommodate the expansion patterns we've had in the past.

Executive Director of the Master of Real Estate Development program Mark Stapp says the city's identity is evolving and we have to mature if we are going to continue increasing because we simply can't accommodate the expansion patterns we've had in the past.

In this story published Jan. 21, 2020, on KJZZ:

Between now and 2030, we'll add another million people to this marketplace. The question is where do they go? And if you don't have easily expandable infrastructure, you've got to densify. And if you densify, you're going to be pushing prices up even further. It's a dilemma we're going to have to deal with as a place.

– Mark Stapp, who is the executive director of the Master of Real Estate Development program and Fred E. Taylor Professor in Real Estate