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The Dealmaker: 10/24/2016

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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.
Panel reviews downtown Phoenix resurgence. “[At] the latest SmithGroup JJR ‘Perspectives’ event entitled, ‘Downtown Ingredients’… experts passionate about the downtown resurgence [discussed] how it happened and where it’s going next.” Among the panelists: Phoenix’s Community and Economic Development Director, Christine Mackay; Associate VP for Program Development Planning at ASU, Rick Naimark; and Uber’s Phoenix general manager, Steve Thompson. Click through to AZBEX for Roland Murphy’s coverage of the event.

Is Trump vs. Clinton election making some Phoenix homebuyers jittery? Jim Belfiore, founder and President of Belfiore Real Estate Consulting, weighs in. The Republic’s Catherine Reagor notes that “Metro Phoenix’s housing market hummed along during August and September….[T]hen a few weeks ago… [s]ome open houses began attracting a smaller number of buyers. It could be election jitters, say some real estate agents.” Jim Belfiore: “Every national election I can remember, some people in the real estate industry suggest such a slowdown has occurred. Perhaps it is happening now, in a few areas with a certain segment of buyers, but…” Read the article and get Jim’s full take here:

PARK ‘R SWAP – Legislator calls for land swap or park for Ahwatukee Lakes golf course. Democratic State Senate candidate Sean BowieIn’s proposal was “in response to a questionnaire the Ahwatukee Foothills News sent to all six candidates in Legislative District 18…. ‘The goal of both of these solutions is to maintain the open space nature of the golf course….’ he added.” Others with thoughts on what to do with the “beleaguered… Golf Club”: Bowie’s Republican opponent, Frank Schmuck; Ahwatukee resident, Rep. Jill Norgaard; Republican, Bob Robson; and Democrat, Mitzi Epstein. 

Major Tempe Town Lake biotech campus in the works. “The proposal calls for a five-building campus… on about 18 acres of city-owned land immediately west of the Tempe Center for the Arts…. [This Boyer Company development] would create a hub that would attract businesses working in the technology, medical and biosciences industries with the potential to eventually create several thousand new jobs…” AZCentral reports, however, that “the city first will have to overcome several hurdles…” Find what those hurdles are and check out a shimmering rendering of the proposed project, here:

Major Tucson development gets new life. “A 645-acre residential and commercial development south of Valencia Road near Ryan Airfield, which was idled during the Great Recession, has been revived…. CrownWest and… LVA Urban Design Studio, applied for… changes that were… approved by the Board of Supervisors… The Pomegranate… [‘We’re open for a new name. There are no pomegranates out there,’ says Crown West’s Dean Wingert] could have as many as 2,658 homes in an area that county officials say has increasing interest.” More at Arizona Daily Star.

Building boom: Flagstaff adding housing units by the thousands. “The sounds of hammers and bulldozers have become familiar in many parts of Flagstaff, as new apartments, hotels and shopping centers continue to pop up around the city and nearby in unincorporated Coconino County….” This Arizona Daily Sun piece looks at some of the area’s more high-profile projects, from developers Vintage Partners, FMH Enterprises, Chason Affinity Companies, Capstone Collegiate Communities, Navajo Nation Shopping Centers. 

SWEATING THE SMALL STUFF – Micro-apartments: Innovative living or future slums? “Although very much back in vogue, experiments in micro-living have been made several times over the past 90 years, and the results, while fascinating, are not exactly encouraging.” — Newsweek.

Cameron’s $5M + deals of the day –

Twelve Don’t Forgets At The Polo Party November 5th! –

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!
Foundation fighting back over ADA lawsuits, wants to force oversight. “AID seeks… to force the Attorney General’s Office to conduct compliance reviews [‘inspecting businesses periodically for violations of the Americans with Disabilities Act’], saying that office has been legally required to do the inspections… but has failed to do so. ….The [AG] has accused AID of being a serial litigator that has been using the ADA law to collect thousands of dollars… from unsuspecting businesses…” — East Valley Tribune.

MORE SIGNS OF THE TIMES – Judge says Phoenix suburb sign code enforcement overrides freedom of speech. KTAR: “The city of Chandler has been ordered by a judge to stop enforcing parts of the city’s sign code that violated freedom of speech on state and federal levels. The Phoenix-based Goldwater Institute had filed a lawsuit on behalf of Chandler business owners who were affected by the restrictions.”

As climate heats up, state confident in water conservation efforts. Michelle Moreno, spokeswoman at the Arizona Department of Water Resources: “We may have a lot of dry days here in Arizona, but that doesn’t mean that we’re impacted the same way (as other parts of the country).” Cronkite News’ Adam DeRose looks at why “Arizona officials… say they have a handle on… manage[ing] long-term water supplies in the state.”

Immigrant investor program for poor neighborhoods benefits rich ones more, study shows. “[The Government Accountability Office] found that just 12% of investment went toward projects located in a census tract with an unemployment rate of at least 8%, even though those projects benefited from a provision earmarked for high-unemployment areas…. The report is the first effort by the federal government to quantify the extent of what critics call a flagrant abuse of [EB-5].” More on this report along with the “fight under way in Congress over the future of [the program]” — in The Wall Street Journal.

‘SNL’ recap: Trump doesn’t accept election results there, either. Saturday Night Live: perhaps the only reason for not wanting this crazy election year to end. Contrary to The Donald’s Tweets, season 42 has been fantastic!  Tom Hanks hosted the most recent episode (and played Fox News’ Chris Wallace, moderator in the ‘3rd Debate’ sketch). Get the recap and watch clips here —>

Demand for Industrial Space Fueling New Construction Read more

New 6,500-Square-Foot Co-Working Space – 1951@SkySong – To Open At SkySong, The ASU Scottsdale Innovation Cente Read more

Mesa Master-Planned Community Cadence at Gateway Launches With First Builder – Lennar Homes 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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Cameron’s $5M + deals of the day

Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County. Price: $27MBuyer:  Tides on 19th Partners, LLC

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October 2016