The Dealmaker: 12/06/2016

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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.
CONDO-MINIMUM – Now approved, Capitol Lofts starting at $165K coming to Downtown Phoenix. “[The] new 65-unit deluxe condominium community [is] planned for 901 W. Washington… [R]anging from 571 to 869 square feet, the contemporary new residences are designed to ‘offer a hugely in-demand lifestyle at an affordable price point…’ How affordable? According to AZRE, “buyers only need to make a minimum annual income of $27,000.” Get developer info and view an image of one of the units; plus, get details on design elements and the “array of pet friendly amenities,” here —>

Sky Harbor’s newly remodeled Terminal 3 opens. “[The first phase] of the $590 million project, which cost $150 million, features panorama views, a larger security checkpoint, and charging stations throughout the seating area. [There’s also] a garden and dog park, improved ticket counters… and 14 new skylights.” For more on the remodel plus a slideshow tour of the terminal (why wait until you have a flight to catch?), head to Phoenix Business Journal.

Phoenix Country Day School on final leg of landmark renovation effort.(Disclosure: Rose Law Group represents Phoenix Country Day School in their land use application for the renovation efforts.) “The school is requesting a Special Use Permit in hopes of building the final installment of its $22 million campus capital improvement plan at 3901 E. Stanford Drive…“ More on the “proposed rebuild,” plus a rendering of the “ongoing… expansion efforts” — in Paradise Valley Independent.

I HEAR YA’ – Ahwatukee board satisfied Mayor Stanton is listening.“Ahwatukee Board of Management President Dan Smith and an entourage of the HOA’s officials met earlier this month with Stanton and some of his staff…” ABM assistant general manager Karen Young: “We are appreciative to have had the ear of the mayor… We are encouraged by his interest in our concerns…” So what are these concerns, and what was it about Mayor Stanton’s reaction to them that has ABM singing his praise? Find out, in Ahwatukee Foothills News.

Scottsdale OKs major General Plan amendment in Desert Mountain community. At a Dec. 1 meeting “[the city council] made the unanimous decision [to rezone “a 92-acre plot of land’]… to make way for a new development and golf course… at… Pima and Cave Creek….” Click to Scottsdale Independent for more on this project, including why “[t]he council’s decision was met with applause by those in attendance at City Hall…”

LGI Homes brings its Terrata Brand to Newland Communities Estrella master-planned. Social Media Coordinator Callan Smith gets the lowdown from Texas-based home-builder’s West Division President, Chris Kelly, on this new home brand that’s coming to Goodyear. Check out Callan’s piece (along with renderings) in Rose Law Group Reporter

Planners approve change to residential parcel in Desert Oasis. “The Surprise Planning and Zoning… approved the conversion of a 8.08-acre parcel… from commercial to medium density residential. This land is on the northwest corner of Jomax… and 171st Avenue and is directly south of Desert Oasis Elementary…” Find out what’s planned for the parcel and why “several commissioners praised the change,” at YourWestValley.

Pollack: A great respite from the slow rate of growth. The Monday Morning Quarterback kicks off this edition with highlights from last week’s “great… economic news,” noting that strong showings in several sectors have provided a break “from the slow rate of growth that had been the norm in this recovery…” U.S.: Third Quarter GDP Increase, November Unemployment w/Chart, Personal & Disposable Income, Consumer Confidence, Auto & Truck Sales, ISM Manufacturing Index, Corporate Profits. AZ: S&P/Case-Shiller Home Price Index – Greater Phoenix.

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!
Continued job growth, lower unemployment predicted for Arizona’s future. In this report from Capitol Media Services’ Howard Fischer, economist Anthony Chan and ASU economics professor Lee McPheters look ahead to 2017 in presentations “at the [W.P. Carey School of Business’] annual economic forecast luncheon….” Get forecasted figures for job growth and unemployment and check out what both economists have to say about one potential wildcard: Trump — at Arizona Daily Star.

MONUMENTALITY – Obama actions on public lands may be difficult for Trump to undo. “At issue is a call… for Obama to use… the Antiquities Act to protect [‘nearly 4 million acres’] around the Grand Canyon… the Bears Ears site in Utah and Gold Butte in Nevada. The act gives the president authority to unilaterally designate national monuments, but there is nothing in the law about reversing a designation.” But see what Sens. McCain and Flake have to say to Obama — “who has already used the act to designate 24 national monuments” — about his “pushing through more of them ‘outside the public legislative process’” — in Cronkite News.

Almost 10 percent of young adults in Arizona still live at home. “According to a report by Pew Research Center… Arizona ranks 34th among the states in the country in terms of the percentage of adults living at home.” For a breakdown of all the sponging happening here and elsewhere, plus the link to the full Pew report, click to KTAR.

North Scottsdale Synagogue Purchases $4.2 Million Building From Covenant Community Church Read more

Pete King Construction helps nonprofit provide Christmas gifts to 500 Children, Relatives at PCH Read more

Arizona Builders Alliance Toy Drive to Have Huge Impact on Valley’s Underprivileged Youth 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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December 2016