The Dealmaker: 11/21/2016

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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.
Talks to build new Arizona Diamondbacks stadium crumbling. (Falling to pieces — much like the stadium itself?) “The… talks… have gone silent aside from competing statements… by [Stadium Real Estate Partners] and the Diamondbacks. The communication breakdown between those parties and Maricopa County, which owns Chase Field, has been apparent for weeks…” AZCentral’s Rebekah L. Sanders examines what’s behind the “turmoil,” including how “investors… blindsided county officials by announcing a plan to tear down Chase Field instead of… repair[ing it].”

DON’T GET ‘AGRIHOOD-WINKED’ – ‘Golf town hall’ speakers rip Ahwatukee Farms proposal. “Don’t let something… interfere with your lifestyle…”; “The CC&Rs are amazingly clear and we have a judge who agrees…”; “[Residents would] ‘rather look at dirt than another 300 homes….’” That is just a sampling of the comments “from eight development and golfing experts” who “urged… people packed [into] the Ahwatukee Recreation Center… to reject True Life’s request… to… build… 300 homes, a private school, a farm, café, two lakes and a green belt with recreation path” on the “defunct 101-acre course at Ahwatukee Lakes Golf Club.“ Full story on the community pushback to this “agrihood” — at Ahwatukee Foothills News.

Mesa City Council to discuss how to use 25 acres at University and Mesa drives. Mesa Independent: “[A] study session [regarding ‘future development of… city-owned land at the southwest corner of University and Mesa’] begins [TODAY] at 5 p.m…. in the lower city council chambers, 57 E. First St. Click through to access links to the agenda along with a slideshow.

Concept plans for $18.6 million West Park OK’d, could open in fall 2018.“The proposed park will use about 44 acres of a 76-acre site... [that] is generally bounded by Queen Creek Road to the north, Ocotillo Road to the south, Sossaman Road to the west and Hawes Road to the east… ‘This is the best of the best, I think, of all of those designs and everything put together,’ Vice Mayor Oliphant said about the design plan.” Get park details and view this design plan at Queen Creek Independent.

Former designer critical of PhoenixMart. “Jon Felt began working as a computer-aided designer in May for AZ Commercial Contractors, a subsidiary of PhoenixMart’s parent company, AZ Sourcing, and said he’s worried the company is putting the ‘cart before the horse’ by proceeding to build out the project…” But what’s his specific beef? Find out in Casa Grande Dispatch.

October surprises in real estate. REALTORMag: “Housing starts increased 25.5 percent… It is the highest pace since August 2007…. ‘The higher-than-expected gain across all regions… ’reaffirms our view that steady improvement in the housing market is likely to continue over the next two years,’ Rob Martin of Barclays Bank PLC told The Wall Street Journal.”  However, as you’ll notice from the next Dealmaker item, Bloomberg sees things a bit differently.

Homebuilding is hot again. And not nearly hot enough.Bloomberg: “[S]tarts surged in October… That’s good news for a housing market struggling with low inventory… The less-good news is that there’s still a long way to go… Even accounting for multifamily construction… the U.S. housing market is still adding new units at a slower rate than it has for the past half century [as shown in two U.S. Census Bureau charts]…. Whether or not builders keep up the pace is complicated by a number of conflicting factors.” To find out what those factors are, click it—>

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!
County gave Monsanto records to Goldwater, kept them from newspaper. “The [Arizona Daily] Star only got [the] records [about potential tax incentives] last week, after… complaining to [Pima] county officials…  A county spokesman… said… that the release to Goldwater [Institute] was a ‘grievous error…’” For more on this “dispute over transparency,” click to Tony Davis and Murphy Woodhouse’s report in (where else, but) Arizona Daily Star

DON’T MESS WITH TAXES? – Arizona Legislature has no plans to eliminate state income tax. Capitol Media Services’ Howard Fischer looks at “[t]he reluctance by [incoming House Speaker J.D. Mesnard and probable Senate president Steve Yarbrough] to move toward cutting income taxes,” and how this “could put them on a collision course with Gov. Doug Ducey” — in Arizona Daily Star.

Election Rejection: Independent voters don’t feel respected, but can’t be ignored. “Public officials, pollsters and university professors said [‘at a post-election discussion organized by the Morrison Institute for Public Policy’] that too many miscalculated the power of the independent voter [in the 2016 election].” Why “major parties miss out on hearing from [this] large voter demographic” and possible solutions for correcting that — in Cronkite News.

Newsmaker BONUS: The Donald returns to SNL [VIDEO]. “When faced with making good on his campaign promises, president-elect Donald Trump (Alec Baldwin) starts to panic” — w/ former cast member Jason Sudeikis returning to the show to play the role of Mitt Romney. Watch it here—>

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