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The Dealmaker: 9/12/2017

Posted by   /  September 12, 2017  /  No Comments

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The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox

 

 

City lawyers allege resident was paid to file suit over Apex; Rose Law Group litigation attorney Evan Bolick says owner of signature-gathering company ‘enlisted’ by plaintiffs. (Disclosure: Rose Law Group represents APEX Motor Club.) “The suit, filed… on behalf of Rancho El Dorado resident [and ‘Sign Here Petition’ owner] Bonita Burks, argues the city [of Maricopa] improperly granted a conditional use permit to Private Motorsports Group, a company wanting to build a private racetrack on the outskirts of the city under the name Apex Motor Club. During the hearing Evan Bolick, counsel for the defense, alleged Burks was ‘being paid’ by an unnamed entity to be the plaintiff in this case.” InMaricopa. http://bit.ly/2xveKQG

Developer planning for-rent homes in West Valley. As Dealmaker has previously mentioned, NexMetro is planning for-rent-homes in the city of Surprise. Now, PBJ reports that the developer has also “acquired a 12.3-acre parcel in west Phoenix at 107th Avenue and Camelback Road where it plans to build 127 for-lease homes under its Avilla brand.” NexMetro’s president and COO Josh Hartmann says that these “new housing options” will target those “looking for a more upscale leased home experience…” http://bit.ly/2wVfMF2

DISTURBING’ DEVELOPMENT? – Board of Adjustment continues Moak application, again. “[The applicants] seek to construct a [‘6,300-square-foot hillside home’] and request a variance to exceed the allowable amount of disturbance on a 1.03-acre Mummy Mountain lot… The amount of allowable disturbance is dependent upon how great the building pad slope is.” Paradise Valley Independentreports the PV Board of Adjustment has “granted a second continuance to [the] variance proposal.” And why was another request for a continuance made in the first place? –> http://bit.ly/2f3Y770

FREEDOM OF CHOICE – Sales pace picks up at Eastmark, now 6th nationally. “DMB’s east Mesa development accounted for over 665 home sales by Sept. 1, according to RCLCO Real Estate Advisor’s Mid Year Report. That is more than the number of homes sold there in all of 2016… One major factor contributing to the 2017 sales boom is choice.” East Valley Tribune. http://bit.ly/2vRFIxD

Mesa creates redevelopment zones to reverse blight. “The redevelopment areas will allow the city to take advantage of tax breaks and other incentives aimed at attracting investment and infill development… [M]aps of each area snake in and out of neighborhoods, commercial districts and old industrial zones to the east and west of downtown.” (Hence the title of the creation: “East and West Redevelopment Areas.”) East Valley Tribune notes, however, that the “decision to move forward with the redevelopment areas has some citizens concerned about eminent domain issues.” http://bit.ly/2gZiF1g

Appeals court rejects injunction request as blasting begins. “[T]he Ninth Circuit issued its terse response to the request by Protect Arizona’s Resources and Children and the Gila River Indian Community for an order preventing the blasting until the panel resolves his appeal of a lower-court ruling in July 2016 that cleared the way for freeway construction to begin.” How terse? “‘Denied’” — with “no further explanation.” AFN. http://bit.ly/2wXdrqJ

Anthem not to blame for rural wells drying up. “Rumors abound that the development of Anthem… is linked to declining water levels in nearby rural wells in New River and Desert Hills. But Anthem gets its water from the Colorado River and runoff into Lake Pleasant, via [CAP].” So what is the “likely cause” for the area’s water well woes? Find out in NoPhoNews. http://bit.ly/2f1Weru

Pollack: Hurricane likely to slow, not stop, expansion. The Monday Morning Quarterback opens this week’s installment on this somber note: “To put things in perspective, the extent of the tragedy caused by Mother Nature over the past few days and weeks is far more noteworthy than any of the economic data that I will comment on.” MMQ delivers data for these ‘Snapshots’… U.S.: Credit, Labor Productivity, Manufacturing. AZ: The Cromford Report – Active Listings & Resales, Median Home Prices – New vs. Resale. http://bit.ly/2y2NpCi

A sign that more housing inventory is coming. “The evidence is in Fannie Mae’s latest Home Purchase Sentiment Index, in which the number of consumers who say now is a good time to sell a home neared an all-time high…” More on this, plus additional findings from the August HPSI, in REALTORMag. http://bit.ly/2wn3QHE

6 Surprise residents vie for 1 open council seat. “The council looks to fill the hole left by John Williams, who recently resigned seven months into his third term… Criticism of the underdeveloped Prasada development was a common refrain among applicants, who were sequestered in a separate room to prevent those who spoke later from borrowing talking points.” Learn about each of the applicants at AZCentral. http://bit.ly/2xiiG6p

Cameron’s $5M + deals of the day – http://bit.ly/2wV8D7p

 



As a supplement to the Dealmaker, we thought you might enjoy these articles!

Flake, McCain introduce landmark Arizona water settlement bill;“U.S. Sens. Jeff Flake (R-Ariz.) and John McCain (R-Ariz.) last Thursday introduced S.1770, The Hualapai Tribe Water Rights Settlement Act to settle the water rights claims of the Hualapai Tribe. The major water settlement bill will deliver a greater degree of certainty for water users throughout Arizona and provide the Hualapai Tribe with opportunities for economic growth.” More in the news release at Rose Law Group Reporter. http://bit.ly/2ffNMlg

Regents hammer AG for nothing-burger lawsuit. “Regents Chairman Bill Ridenour said the state’s legal challenge to college tuition increases is ‘full of attacks, but offers no constructive remedies.’ Ridenour [also] said Attorney General Mark Brnovich’s lawsuit ‘makes for good headlines’ but does nothing to change the financial burden for students and their families.” And Ridenour also said this: “’[T]o all of a sudden have a suit dropped on us indicating we aren’t fulfilling the constitutional duties is a slap in the face.” Even more from Ridenour — plus Brnovich’s response — at AZCentral. http://bit.ly/2xvGCUW

Legal groups move to challenge Trump’s Arpaio pardon. The MacArthur Justice Center and the Protect Democracy Project allege that President Trump’s pardon of Sheriff Joe was “unconstitutional because it undermined the power of the federal judiciary.” Read about in POLITICO. (Additionally, Rose Law Group Reporter has links to these related items: “Prosecutors: Reasons for Arpaio conviction should be voided,” in Arizona Capitol Times; “DOJ prosecutors agree Arpaio case should be tossed after Trump pardon,” in USA Today; “Fear of protests prompts change to Arpaio event in Las Vegas,” in Las Vegas Review-Journal.http://bit.ly/2h2iJcW

Move over, millennials: Generation Z enters the workforce. “[A] new survey conducted… at the International Intern Leadership Conference… shows members of the latest cohort value diversity, technology and giving back to their communities…” More on the Gen Z survey in this (non-paywall!) piece in the WSJ. (Worth tapping to, if only to check out the headline photo featuring a head-banded dude who looks an awful lot like Jim Carrey’s character, Lloyd Christmas, in Dumb and Dumber. Is he just about to deliver the line, “So you’re tellin’ me there’s a chance…”?) http://bit.ly/2xXLkXN

Most people wouldn’t pay for news on social media. “Why it matters: Facebook and Google have been tinkering with ways to help drive subscriptions to publishers’ websites on their platforms…” Check out news-on-socia-media survey results from the “Adobe study provided to Axios” here: http://bit.ly/2y2lxhR

[VIDEO] A conversation with the man who rebuilt the World Trade Center after 9/11. In an ‘EXCLUSIVE’ 12-minute Bisnow interview, Silverstein Properties Chairman, Larry Silverstein, talks about “his vision for the new campus.” http://bit.ly/2eTgfN5

McCarthy Building Companies updates Mingus Union High School Read more

Phoenix Investment Real Estate Market Picks Up After Slow Start Read more

Phoenix Multifamily Market Remains Strong Despite Seasonal Uptick in VacancyRead more

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