The Dealmaker: 10/05/2016

NO SMALL FRY’S? – Phoenix to decide $18M in tax break, incentives for downtown Fry’s grocery store project. “RED Development would build [it] as part of a high-rise apartment, office and retail project [50,000 square feet of commercial space, including the grocery store]. Phoenix would provide… financial incentives as well as a long-term lease-to-purchase agreement for the city-owned land between Washington and Jefferson… and First and Second streets [Block 23]…. The agreement must be approved by at least two-thirds of the City Council….” But is everyone on board? Find out, Wochit, plus learn when and where to weigh in on the project — at AZCentral. http://bit.ly/2dt7CcE

Final project for DC Ranch Town Center. “Sterling at Silverleaf… will be a 72-unit condo… community on 5.88 acres located at Legacy… and Thompson Peak Parkway [developers DMB Associates and The New Home Company]…. Described… as… “(the) final layering of luxury products in Silverleaf,” the proposal reduces the unit count… to 72 from the previously approved 213.” So why was the “prior plan” nixed? Get the answer, plus many more project details, inAZBEX. http://bit.ly/2e2z9Tz

Scottsdale considers Chauncey Lane Marketplace project. “JLB Partners and LGE Design Build [seek] to create a mixed-use complex on 12.26 acres at the SEC of Scottsdale… and Chauncey Lane…. The project… will include…  48.5KSF of retail, service, restaurant and entertainment space in three buildings [and] 300 luxury residential units in a four-story building…. [a] five-story parking garage… a fitness center, clubhouse, pool… central gathering area… fenced dog park… seating areas… artificial turf… accent lighting…” Pretty much covers everything, right? No way! Plenty MORE design details (plus rendering) at AZBEX. http://bit.ly/2dxPP2G

GET YOUR DIGS ON ROUTE 66 – West Flagstaff subdivision planned for 1,300 houses. “The [city] will decide next week whether to advance [the] proposed… subdivision with frontage on West Route 66 and Woody Mountain… [Timber Sky, a Vintage Partners development] will require annexation from the county to the city of more than 100 acres, as well as several zoning changes… [It] would encompass a total of 197 acres and would have 100 residences reserved as permanently affordable housing.” Of the 1,300 units, 492 would be in multi-family housing structures and 808 units are scheduled to be single-family homes.” —Arizona Daily Sun. http://bit.ly/2cSVZg7

Home prices defy predictions, rising 6.3 percent annually. Mortgage News Daily looks at the latest CoreLogic Home Price Index. Some key takeaways? “Oregon, Washington, and Colorado continue to outpace the rest of the country with annual price increases of 10.3, 10.2, and 9.1 percent respectively”; and this from the company’s chief economist: “Home prices are now just 6 percent below the nominal peak reached in April 2006… With prices forecasted to increase by 5 percent over the next year, prices will be back to their peak level in 2017.” http://bit.ly/2dxQIbf

Dealmaker BONUS: Virtual reality helps sell real estate in Peoria. “Walk into the Peoria offices of DeLex Realty, and you’ll find something unusual — virtual reality headsets. Put them on, and you can ‘virtually’ tour a $296,000, 2,000-square-foot home several miles away in Sun City.” Cronkite News’ Zack Moran looks at the “first real estate brokerage in the Valley to use the technology,” and explains that while “real estate will be the main industry to undergo a transformation with the rise of virtual reality… it may take some time” for that to happen. http://bit.ly/2dvMi5e

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

The World’s Greatest Polo Party Is Only A Month Away! – http://bit.ly/2dvLKfO