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. http://bit.ly/2flKJ8L
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.” http://bit.ly/2flLZsB
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…” http://bit.ly/2fImRQU
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—> http://bit.ly/2e5WNio
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—> http://bit.ly/2eiA2mn
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. http://bit.ly/2flLwqt
Two days until too much fun; The Polo Party this Saturday – http://bit.ly/2e5W94v
Cameron’s $5M + deals of the day – http://bit.ly/2es95jv |