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The Dealmaker: 10/12/2016

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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.
Hotel, café proposed near Capitol Mall. “Grand Capitol… and Butler Housing Company [seek] a 15.6KSF, 120-unit hotel and 2,00SF restaurant project…” [First tiny houses now tinier eateries? Actually, we kid AZBEX, as we’re pretty sure that the square footage number is just a typo.] “The project [at the NEC of Van Buren and 10th Avenue] intends to serve as a proof of concept and motivator to other developers to undertake work in the area by reactivating a site impacted by blight, under-use and, ‘urban camping.’” http://bit.ly/2e1LpAy

Tempe Council OKs controversial high-rise. “The planned Crescent Rio complex [a Crescent Communities development] will be located on 3.2 acres… on First Street, just east of Hardy…. [T]he project was first brought before council last November, [but was withdrawn]… after neighbors protested… The revised plan reduced the total number of units… and cut the height… Councilmember Kolby Granville commended the developers for amending their idea [as opposed to having the attitude of]… ‘I’m taking my toys and I’m going home.’“ Amenity info plus rendering in East Valley Tribune. http://bit.ly/2dXMdJo

Is Sun City West still a Del Webb community? And why do we ask? Because according to this YourWestValley report, “the name will no longer be reflected on the entrance sign at R.H. Johnson Boulevard and Bell Road when the makeover is completed“; and because “Recreation Centers of Sun City West board director Bob Garrett… [who] wants to keep the old sign and the Del Webb reference, [said] ‘This is a Del Webb community… It was formed as Del Webb.’” More on this earth-shaking sign controversy here —> http://bit.ly/2dMvfiS

Redesign in downtown Casa Grande includes European flair. “The busy streets of Paris or Barcelona have a reputation for being pedestrian-friendly while still providing access to small cars and mopeds…. Developers of the project told the council that the proposed layout of Fifth Street incorporates [the same] concept — motorists, pedestrians and cyclists would be able to safely move through the arterial simultaneously.” For further details and project schematics [“which depict Fifth Street as being a curvy, open two-way corridor”] click through to Casa Grande Dispatch. http://bit.ly/2e9Nr1F

Yuma developers prevail at U.S. Supreme Court. Capitol Media Services’ Howard Fischer: “Tuesday’s decision… essentially cements a March ruling by the 9th U.S. Circuit Court of Appeals. The presence of community racial bias can lead a court to find that a city council’s denial of a rezoning request was the result of ‘discriminatory motives,’ even if there is no proof the council members held such views… That allows the developers in this [Yuma] case to pursue their claim in federal court but also opens the door to similar lawsuits… when an affordable housing project is nixed amid neighborhood opposition.” More in Arizona Daily Star. http://bit.ly/2dLfw0d

The unfriendly mortgage rate trend. “Rates were higher again today, marking the 9th straight day without any improvement.” And, as Mortgage News Daily’sMatthew Graham notes in his headline, “the current trend is not your friend — at least not if you want rates to go lower in the short term. However, the trend can still serve a purpose.” Click through to find out how, plus get Loan Originator Perspectives, Best-Execution Rates, and Ongoing Lock/Float Considerations: http://bit.ly/2dMuerq

Presidential candidates would do right to mention housing policy. HousingWire’s Jacob Gaffney interviews former U.S. Representative Rick Lazio, (NY) “to get some of his thoughts on where affordable housing policy stands now…. [Lazio] is a member of the executive committee of the J. Ronald Terwilliger Foundation for Housing America’s Families. The Terwilliger Foundation is hosting the Housing America’s Families Forum on November 18, 2016 at the George W. Bush Institute in Dallas, Texas.” http://bit.ly/2egmDR4

Home prices benefit from decline in foreclosures – CoreLogic. Mortgage News Daily’s Jann Swanson reports on “CoreLogic’s August National Foreclosure Report [which shows that] most of [the major indicators of housing distress have returned] to levels of the early days of the housing crisis.” http://bit.ly/2dJTDzf

Aspen Valley Polo Club Returns To Defend Its Title At The Polo Party Saturday November 5th! – http://bit.ly/2e7Zony
Because you are an informed person, as a supplement to the Dealmaker, we are providing you 3 (sometimes more/less) non-real estate related articles we thought you might enjoy!
Newsmaker BONUS: Sen. John McCain’s Women’s Coalition Launch.  The event was held today at Rose Law Group. Watch ABC 15’s full coverage here: http://bit.ly/2dXNr7u

Pinal assessor reacts to frustrated farmers. “[For farmers] in the San Carlos Irrigation and Drainage District… [w]ater scarcity has led to a reduction in crops, changes to insurance needs and a debate over whether land should remain in agriculture status, which would lead to a higher tax value.” Casa Grande Dispatch’s Kelly Fisher looks at how “the Pinal County assessor used his ‘assessor’s discretion’ to sign a policy pertaining to the irrigation district’s agriculture status — but those spearheading the effort to clarify the standards aren’t on the same page.” http://bit.ly/2dWQtXx

Arizona Appeals Court ruling: Birth mom’s same-sex ex has parental rights; Kaine Fisher, partner and director of Family Law at Rose Law Group, comments. Capitol Media Services via Arizona Daily Star.: “In the first case of its kind in Arizona, the judges rejected the arguments by the biological mother of a child that the Arizona laws determining who is legally presumed the parent of a child only apply when that other person is a male…. Tuesday’s ruling, unless overturned by the Arizona Supreme Court, means that while the law was written with a father in mind, judges now have to read it to apply regardless of the other parent’s gender.” Kaine Fisher: “This is an area of the law in Arizona where family law practitioners have desperately needed some guidance from the judiciary in the wake of U.S. v. Windsor.  It has finally come and the outcome was predictable.”  More on the ruling plus the rest of Kaine’s remarks here: http://bit.ly/2dXOK6e

Political spending by interest groups dominates ACC debate [VIDEO]. Capitol Media Services via Arizona Daily Star: “While the question of APS influence in electing commissioners is dominating much of this year’s race, it was disclosed…  that a group funded by SolarCity is doing to a certain extent this year what APS is accused of doing… But SolarCity lobbyist Kris Mayes said there’s a significant difference. She said SolarCity… is disclosing its spending; the refusal of APS to say what it did or did not spend in the past or might spend in the future leaves voters in the dark.” http://bit.ly/2dWQbzO

Federal judge: Arizona counties don’t have to tally out-of-precinct votes.“What happens when people show up at polling places on Election Day but their names are not on the list of those registered to vote there”?  [“I know this is Anchorage, but can I still vote for John Doe who’s running in Arizona?” Okay, so maybe that’s a HUGE exaggeration.] Capitol Media Services’ Howard Fischer reports that “Democrats sought to force counties to count the votes for those offices for which the person would have been entitled to vote had he or she been in the right place. [F]or example, a voter who should have been in Tempe but ended up in Glendale would not have votes counted for school board. But under the Democrats’ argument, their votes for statewide and county offices would count.” Get the reasons for the judge’s rejection, at Arizona Daily Star. http://bit.ly/2esowcQ

Nearly 120,000 Arizona voters have registered since the end of August. [And in light of the previous Newsmaker item, if they want their votes to count, they’d better make sure they show up at the right place!] KTAR: “Preliminary registration figures released Tuesday show Democrats added more than 35,500 voters, Republicans nearly 31,000 and almost 51,000 signed up without choosing a party.” But is “[t]he Democratic Party’s slight lead in signups… enough to change the party mix in the state”? Find out—> http://bit.ly/2dMvH0I

Mesa Master-Planned Community Cadence at Gateway Launches With First Builder – Lennar Homes Read more

[IN-DEPTH] Home ownership pessimism might be overdone Read more

Western Wealth Capital of Canada Buys Multifamily Property Near ASU for $17 Million Read more
Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group.  Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others.  The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.

Belfiore Real Estate Consulting is Arizona’s leading housing market research firm.  The company couples its surveys of up to 350 new home subdivision sales personnel monthly with resale and public data, as well as the perspectives of leading development, homebuilding, lenders, brokerage, real estate law, contractors, and investors to report on and forecast residential housing market conditions.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.