As part of the project, the hotel would add 380 rooms, create almost 8,000 square feet of resort-oriented retail space, add about 16,000 square feet of administrative offices and construct 44 casitas that may be put up for sale on the residential market.

The proposal also would renovate 51 existing guest cottages and introduce a 25,000-square-foot spa.

Fortune Magazine, in their article "6 real estate bargains", reports that Phoenix is one of the most affordable and attractive places for retirees.

When it comes to attracting retirees, Arizona ranks second in the nation, having overtaken California in 2000. And real estate values have reflected its popularity: As recently as 2006, condo prices rose 15% over the previous year.

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South Phoenix single family homes, condos and townhouses sales reports for June 2008.

North Phoenix single family homes, condos and townhouses sales reports for June 2008.

Retail developer Related Urban announced that CityNorth, the 70-acre retail-commercial-office complex under construction, just snagged nine more shops and eateries, eight of them expected to open before the end of the year.

Central Corridor single family homes, condos and townhouses sales reports for May 2008.

South Phoenix single family homes, condos and townhouses sales reports for May 2008.

North Phoenix single family homes, condos and townhouses sales reports for May 2008.

South Phoenix single family homes, condos and townhouses sales reports for April 2008.