The Dealmaker: 11/17/2016

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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.
WHEELING THEN DEALING – Infill king Michael Lieb puts finishing touches on $10M Scottsdale deal. According to Phoenix Business Journal, “Michael Lieb has brokered a sale [involving a real estate arm of Earnhardt car dealerships, 777 Properties LLC selling 11.2 acres at 68th and McDowell] that is slated to bring a new housing development to the former car dealership site in south Scottsdale.” Specifics including site-plan details here:

Scottsdale City Council proceeds with short-term rental specifications.With SB 1350 set to go into effect (the law bans cities and towns from regulating vacation and short-term rentals…), “Scottsdale… approved myriad changes to the existing zoning code to deregulate short-term vacation rentals…” Scottsdale Independent has more on the approved changes which, based on the tone of some municipal leaders and community members, did not come without a great deal of handwringing.

Camelot Homes purchases 7.54 acres within McDowell Mountain Ranch.“The Scottsdale site is… adjacent to the McDowell Mountain Golf Club golf course. The parcel includes zoning and a preliminary site plan for 15, generally, 90’x150’s. The auction price was $2,625,000…. Pacific Land Company Brokers, Howard Weinstein, Derek Harris, Patty Lafferty, and Connor Peagler represented Camelot [Westworld 15, LLC] at the auction.”  See aerial shots of the parcel at Rose Law Group Reporter.

Design duo breaking ground on $1M condos in Old Town Scottsdale.Phoenix Business Journal reports that “Steve and Wendy Voss [owners of LVA Urban Design Studio in Tempe]… are breaking ground on Main Street Place (7502 E. Main Street)… The development will feature 12 condos and some ground level office and retail space.” View the rendering here—>

Heritage Communities closes on Peoria land parcel for retirement. “The Omaha, Nebraska-based owner and operator of 10 senior living communities in Arizona, Nebraska and Iowa, is working in partnership with Phoenix-based Telis Senior Living Inc…. Their partnership, called Orchard Pointe at Terrazza LLC, paid $3.4 million for 6.69 acres at the southwest corner of 67th Avenue and Happy Valley…” Click to Phoenix Business Journal for further details on this and other Heritage Communities’ projects.

Mesa putting southwest redevelopment plan into motion. Phoenix Business Journal on “[t]he… city… seeking… to create a redevelopment area… in a general configuration from south of downtown on each side of Country Club… to Southern… and then west to the city limits.” Economic development director Bill Jabjiniak: “There is a large workforce living in this area and the redevelopment area will give the city tools to encourage more employment-centered development…”

Timber Sky subdivision approved for Flagstaff. According to Arizona Daily Sun, “[t]he 198-acre project [from developer Vintage Partners] is located near the intersection of Woody Mountain Road and Route 66. It will have 1,300 residential units.” Click through to see “an example of two single-family attached homes that will be one of the varieties of the Timber Sky development.”

Major trade groups urge Congress to renew two major homeowner tax provisions.  MBA, NAHB, and the NAR “wrote a joint letter to… Paul Ryan… Nancy Pelosi… Mitch McConnell… and… Harry Reid… to urge Congress to act on [the mortgage debt provision and mortgage insurance premiums] that are scheduled to expire at the end of 2016.” HousingWire’s Brena Swanson looks at the consequences should Congress fail to extend/retain these “two critical tax provisions.”

Cameron’s $5M + deals of the day –

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!
The cost of attracting and retaining public school students in the 21st Century. To paraphrase Strother Martin’s character “Captain” in the movie Cool Hand Luke: “Perhaps what public schools got here is a failure to communicate.” Scottsdale Unified and Paradise Valley Unified apparently think so. According to this report, the districts “allocate hundreds of thousands of dollars to its communications department [for advertising ‘in an effort to attract and retain new students’].” Scottsdale Independent’sTerrance Thornton examines where some of the “money allocated toward marketing” goes, and whether it’s “money well spent.”

Coyotes’ LeBlanc clears up questions about possible Tempe arena. “The plan is to build a 16,000-plus seat arena at the northwest corner of McClintock Drive and Rio Salado Parkway on Karsten Golf Course… Sources stressed the agreement that was announced on Monday is not to build an arena on the site, but instead it is basically an announcement that the two sides will now begin to talk about the process.” Tap through to Arizona Sports to check out what Coyotes CEO Anthony LeBlanc told Doug and Wolf—>

Ride Sharing for pilots is no flight of fancy. “In… 2014 the [FAA] banned private pilots from communicating travel plans and sharing flight expenses over the internet. That order shut down Flytenow, a startup that connected pilots and cost-sharing passengers online…. The Goldwater Institute challenged… and the Supreme Court is expected to decide… whether to review the case.” In this op-ed for The Wall Street Journal, Jonathan Riches (director of national litigation at the Goldwater Institute) and Thomas P. Gross (an attorney and private pilot) make a strong case for a Supreme Court review, noting that “consumers and service providers should be free to choose which innovations work for them.”

Breakthru Beverage Facility in West Phoenix Sells for $33.5 Million Read more

Cambria Hotel & Suites Groundbreaking at Chandler Viridian Read more

Camelot Homes purchases 7.54 acres within McDowell Mountain Ranch 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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November 2016