M
ichael Pollack, a real estate magnate from Chandler, emphasized that despite market uncertainty, entrepreneurs shouldn't be discouraged from investing. "We're in a yellow light economy," he said at the Chandler Chamber of Commerce economic summit, "where you proceed with caution." Pollack and his son Robert lead Pollack Investments, which has developed numerous strip malls across the Valley.

    President Trump's tariff policies have introduced uncertainty into the market, according to Michael Pollack. However, he doesn't believe it's a red light economy, where business owners refrain from expanding or growing their businesses. Robert Pollack identified fear as the primary disruptor in economic cycles, which can dictate market trends daily.

    Michael advised business owners to maintain a cash reserve due to banks' reluctance to lend in the current environment. Having cash on hand allows entrepreneurs to capitalize on opportunities that may become more expensive once market certainty returns.

    Pollack built his business by buying struggling shopping centers and renovating them. He saw opportunity in Arizona's local economy, which was recovering from the Savings & Loan collapse of the late 1980s. For Chandler's economy to thrive, Pollack believes it needs more shoppers, not shops – a higher density of residents would support current retail centers.

    Robert Pollack noted that the city is facing pressure from the state to increase housing units. He highlighted Chandler's progress in this area: over the past two years, 1,637 new units have been delivered, exceeding the average annual rate. The city is seeing more high-density communities and attracting talent.

    Chandler's current economic snapshot includes:

    * A 2.7% decrease in rent prices over the past year

    * 75% of apartments rated 4- or 5-star in quality

    * Average rent: $1,730 per month (compared to $1,590 for the Valley)

    * Retail vacancy rate slightly up from last year, but significantly lower than its peak in 2011-2012

    * Office space vacancy rate at 17%, with a positive net absorption rate

    Michael Pollack advocated for continuing the Four Corners project, which he believes should prioritize multifamily projects over retail centers. He pointed to Tempe's success in converting commercial spaces into high-density housing developments as an example of what can work in Chandler.