The Dealmaker: 11/3/2016

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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.
Phoenix demolition delay wins approval as Circles deal gets OK. (NOTE: Rose Law Group represents Aspirant, the owner of the Circles/Stewart building.) “The Phoenix City Council on Wednesday voted… 7-2… to require a 30-day delay in issuing demolition permits for commercial buildings 50 years or older, as well as for any structure identified as eligible for protection…. Hours before the council vote, [the developer, Aspirant] and a Roosevelt Row neighborhood group struck a deal that could mean the preservation of much of the remaining [Circles/Stewart] building” (also see Dealmaker item below). Click through to AZCentral for more on the agreement and the demo-delay vote, and what both could mean for commercial buildings and future development throughout the city.

Infill developer: Multifamily demand, good deals still in the pipeline.“Land prices are up in downtown areas, parking is a hassle and Phoenix is actually starting to see not-in-my-backyard neighbors opposed to some new projects.” But partner and co-founder of Scottsdale-based Deco Communities, Rob Lyles, “says Phoenix is still one of the most pro-development cities in the country.” Find out why, in Mike Sunnuck’s Phoenix Business Journal piece on this “glass-half-full kind of guy.”

Glendale council approves Garden Grove housing project. (NOTE: Rose Law Group represents the developer of Garden Grove.) The Glendale Star: “[T]he city council approved [LVA Urban Design Studio’s request to rezone the site] near 87th and 85th avenues to allow an 82-home residential development….” Ocotillo Councilmember Jamie Aldama: “This project is consistent with the vision of Glendale 2040… [It] addresses the need for growth… provides affordable homes to members of this community and has amenities that they do not have…”

Plaza Companies gets negotiating rights to parcel along Loop 101.“The Peoria City Council voted last week to grant Plaza Companies exclusive negotiating rights on the city-owned [’14-acre parcel at the southwest corner of Loop 101 and Peoria Avenue’] with the goal of creating a new commercial office complex to attract new business to the community.” — AZRE. For Mayor Cathy Carlat’s take on Plaza Companies, along with a “rendering of the office project,” you know what to do—>

Homestead North adding over 400 smaller-lot homes. [NOTE: Rose Law Group represents the developer, Starwood Land Ventures.] Pinal Central: “Starwood Land Ventures proposed the major amendment to the existing Planned Area Development [to ‘add houses to fill in the long-empty areas’] on four parcels… near West Honeycutt and North White and Parker… The [Maricopa] City Council unanimously approved the amendment.” Jordan Rose: “The changes should improve the value of the entire community…. This will set the bar higher for Maricopa, yet remain affordable for home buyers.” Click it for more—>

Mortgage apps lowest since spring as rates rise. “The Mortgage Bankers Association… said its Market Composite Index… decreased 1.2 percent on a seasonally unadjusted basis, falling back to May 2015 levels.” Jann Swanson breaks it all down —  the Refi and Purchase Index numbers — at Mortgage News Daily.

Two days until too much fun; The Polo Party this Saturday –

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!
GOOD OR BAD ‘HARVEST’? – Appeals court will take another look at Arizona’s ‘ballot harvesting’ ban. “In a brief order Wednesday, the 9th U.S. Circuit Court of Appeals said a majority of the sitting judges want to review last week’s ruling by a majority of a three-judge panel that concluded the state is legally allowed to make it a felony for anyone to take someone else’s ballot to the polling place.” — Capitol Media Services via Arizona Daily Sun.

Arizona doesn’t have to count votes cast at wrong location, court rules. (A ruling which may just open the door for the new Election Day sticker: “I Got Frickin’ Lost Today!”) Capitol Media Services via Arizona Daily Star: “In a divided ruling, the three-judge panel of the 9th Circuit Court of Appeals rejected arguments by Democrats that minorities are more likely to be disenfranchised by showing up at a polling place other than the one assigned to the precinct where they live.” (QUESTION: Since such ballots won’t be counted and are essentially invalid, does that mean people won’t face felony prosecution if they’re dumb enough to try and “harvest” ‘em?)

VOTING: WITH FEET – Coconino County officials hike to bottom of Grand Canyon to set up polls for Havasupai Tribe. A fascinating piece from Cronkite News’  Bri Cossavella on how, “for every major election since 1968,” volunteers have made the “8-mile… 3.5-hour hike down the canyon… to the Havasupai Indian Reservation… to set up [and monitor] polls for the tribe[’s]… registered voters.”

Phoenix held up as model to voters weighing $200 billion in transit questions. “[D]uring a conference call Wednesday by transit officials pushing for approval of about $200 billion in transit projects on local ballots across the country next week…. Mayor Greg Stanton… talked about the city’s passage last year of an increase in the sales tax to fund transit, and the importance of such projects to the life of a city.”– CronkiteNews.

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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