Opportunity Zone incentive rule opens Arizona’s next development window

Arizona may be entering a pivotal development moment, with conditions aligning in ways that could reignite investor interest across Phoenix and beyond.

Improving financing fundamentals, easing rates, and the permanent extension of Opportunity Zones are reshaping how and when capital is deployed.

Savvy investors are increasingly focused on timing asset sales to match projects that are truly ready to move forward. At the same time, affordable and mid-market housing has emerged as a central strategy, drawing both local and out-of-state developers as demand strengthens and supply remains constrained.

The result is a more disciplined, opportunity-rich environment for the next growth cycle.

Read Brett Siglin’s full article as published in the Phoenix Business Journal, January 23, 2026

Brett Siglin is a director in Real Estate with extensive corporate and real estate experience. He focuses his practice on a broad range of business law matters involving corporate structuring, joint ventures, bond financing, syndication of equity, contract negotiation, regulation and compliance, tax credits, property tax exemptions, and real estate acquisition and development. He can be reached at bsiglin@fennemorelaw.com.