The Dealmaker: 11/30/2016

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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.
Electric-vehicle company Lucid Motors plans Casa Grande plant(Disclosure: Rose Law Group represents landowners who helped make this project a reality.) AZCentral: “[Lucid Motors] announced plans Tuesday for an assembly plant… that could bring up to 2,000 jobs over five years. [The electric-car company] plans to start constructing the $700 million plant in… 2017 [and] could begin producing electric luxury sedans by… 2018.” Click through for a quick look at the vehicles in action, plus info on how “Arizona helped secure its piece of the ambitious, transnational effort.” (And for yesterday’s full press-conference, see Dealmaker item below.)

Lucid Car Company YouTube Video. WATCH: Lucid Car Company, State, County and City officials announce the big Casa Grande deal — one of the biggest things that could happen for the State of Arizona! (Note: Last we checked, the press conference starts around the 9:30 mark on the YouTube time bar. So don’t forget to swipe forward — you know, unless you happen to get a kick out of time spent staring at company logos.)

How Arizona and Casa Grande beat 60 markets to land a $700M auto plant. Brian Barron, Lucid Motors director of manufacturing: “Arizona made us feel as if they were more of a partner for our success… We believe in Casa Grande, and we believe that we have picked the best location for our facility.” But what specifically “helped seal the deal”? Find out in this Phoenix Business Journal“EXCLUSIVE”—>

Casa Grande officials pledge to make sure Lucid Motors gets to finish line. Kevin Reagan reports in Casa Grande Dispatch: “[Mayor Bob Jackson] sees [Lucid’s] arrival as a catalyst that will propel Casa Grande into being a leader in technology and advanced manufacturing. There will not be any delays in this [500-acre] development on behalf of the city, Jackson promised, as he expressed a desire to speedily move the project forward.”

What happened to Mountain Shadows Resort? “After laying fallow for more than a decade in tony Paradise Valley, retro glam returns with… a 183-room hotel, 42 hotel condominiums, a new restaurant and bar headed by chef Chuck Wiley, an 18-hole short course (all par 3), fitness center, swimming pool, event space and more. [Expected] to open in early 2017.”  See the renderings, plus go back in time with “Only in Arizona” columnist Mark Nothaft who serves up vintage photos and gives us a glimpse of Mountain Shadows’ Rat-Pack-esque history — in AZCentral.

Scottsdale group planning $25M country club for car buffs in Maricopa.(Disclosure: Rose Law Group represents the developer of Apex Motorsports Club.) Phoenix Business Journal: “Scottsdale-based Private Motorsports Group is under contract to buy [280 acres] in the city of Maricopa near Highway 347 and State Route 238…. Apex Motorsports Club… is slated to have a four-mile asphalt race track, a kart track, 200 car condominiums and 12,000-square-foot club house.”

$63M Mesa multifamily project breaks ground. “[L]ocated at 8350 E. Baseline Rd., [Aviva, from multifamily developer Housing Trust Group], will consist of 325 one-, two-, and three-bedroom apartments, a large state-of-the-art clubhouse, a 150-foot resort-style pool, and extensive green space. Monthly rents will range from $1,050 to $1,500.” For further design details and renderings of this “luxury gated community,” click to AZRE.

Construction starts on Mesa light-rail extension to Gilbert Road. “After a delay of a few months, initial work on the segment began in October…”  But don’t bolt for the train station just yet, because you’ll be super early — “[c]ompletion is expected in about two years.” For a preview of the artwork and a look at the roundabout rendering, plus info on the construction timeline, see Chris Coppola’s report in AZCentral.

Home prices recover ground lost during bust. “[P]rices have climbed back above the record reached more than a decade ago, bringing to a close the worst period for the housing market since the Great Depression…” Zillow’s chief economist Svenja Gudell, index co-developer Robert Shiller, Fannie Mae’s chief economist Doug Duncan, and Redfin’s chief economist — all share their views in this Wall Street Journal report on the latest S&P CoreLogic Case-Shiller U.S. National Home Price index

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!
Exclusive: Mike Allen and Jim VandeHei reveal their plan for media domination. “The much-anticipated new media venture from Politico co-founder and former C.E.O. Jim VandeHei and Mike Allen, the founding father of its Playbook newsletter (the lifeblood of the enterprise for years), has been shrouded in mystery since the duo departed earlier this year…. [T]heir new company will be called Axios… And Allen will return with a newsletter that ‘cuts across our topic areas.’” Read all about the launch in Vanity Fair.

‘Health index’ scores Arizona counties on residents’ welfare, major health issues. “Diabetes, hypertension and depression are the biggest problems facing Arizona counties, according to a new nationwide health index map that also scored counties on whether they tend to be more healthy or less.” Further findings from this Blue Cross Blue Shield Association study in Cronkite News

If Trump tweets it, is it news? A quandary for the news media. “How to cover a president’s pronouncements when they are both provocative and maddeningly vague? Does an early-morning tweet amount to a planned shift in American policy? Should news outlets, as some readers argue, ignore clearly untrue tweets, rather than amplify falsehoods further?” Media columnists Michael M. Grynbaum and Sydney Ember explore, in The New York Times.

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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