The Dealmaker: 12/08/2016

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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.
THE WRIGHT DECISION! Phoenix ends city effort to preserve David and Gladys Wright House. [Disclosure: Rose Law Group represents Peter Sperling, Jim Furcini and Andy Ogan in preserving the residential historical character of Arcadia.] “The City Council voted 8-1 to withdraw the proposal… to protect the Frank Lloyd Wright-designed home…. [Reps] for owner Zach Rawling asked for the withdrawal… ” as The Republic’s Brenna Goth reports: “The city’s vote does not get Rawling closer to opening the house to the public through the zoning process.” (Note: Rose Law Group clients supported the withdrawal. Read why, and find out how some residents and preservationists reacted to the council’s decision.) —>

BYE BYE BIRDIES? Phoenician resort could cut golf course for hundreds of houses, condos. “Phoenix will consider a rezoning of the land to allow for the development of 382 new houses, townhomes, condos and resort casitas… 27 holes of golf would be pared down to 18 to make space… Some neighbors, however, are raising concerns about the effects of hundreds of new residents in the area.” More in AZCentral.

2 apartment towers going up next to Arizona State University in Tempe.The “yet to be named” Opus Group development “on the northwestern corner of University and Forest… will include 20-story and 12-story buildings with a total of 407 apartments [and]… 31,000 square feet of space for retail and restaurants.” With AZCentral ’s Catherine Reagor reporting that among the amenities will be a “bike workroom with storage for more than 450 bikes,” perhaps the place should be called something like “The Spokes,” “The Sprockets,” “Derailleur Towers,” “Road Rash Village,” or “The Face Plant Vistas.”

Movie screen manufacturer proposes location in Pinal. “Severtson Screens currently leases three facilities in Mesa to produce its screens for movie giants like AMC, Regal Cinemas, Harkins Theatres and others but hopes to… consolidate the three buildings into one… San Tan Valley site… on the southwest corner of Airport Drive and Schnepf Road…. The Board of Supervisors has approved a comprehensive plan change that would allow [the] manufacturer to take over [the] facility.” But according to this Pinal Central report, some “neighbors of the San Tan Valley site” would rather see Severtson get screened out. Find out why —>

New Casa Grande mayor outlines ‘open for business’ agenda. Presiding over his very first city council meeting Monday night, Casa Grande’s new mayor, Craig McFarland, laid out “big plans he wants to initiate during his first term.” As Pinal Central’s Kevin Reagan reports, the mayor’s plans — and his ‘open for business’ mindset” — revolve around  “economic development, education and marketing.”

2017 Economic Outlook: Optimism in the air for Tucson. Whether it’s jobs, the stock market, retail development or housing, “experts say there are reasons to be optimistic about the direction of the local economy” — although, there are a few exceptions when it comes to housing. According to this Inside Tucson Businessreport, causes for this less-than-optimistic outlook in housing revolve around labor shortages, lack of developable land, and cautious lenders.

[OPINION] The cure for costly housing Is more costly housing.Bloomberg financial columnist Noah Smith argues that “[a]llowing more market-rate housing in [rent-controlled cities like San Francisco] is a good way to bring down the cost of living, not just for high earners, but for the poor and working class as well.”

[OPINION] 5 things to watch for in next week’s Fed meeting. Bloombergeconomic columnist Mohamed A. El-Erian takes a whack at what’s “likely to emerge from the statement by the Federal Reserve’s policymaking committee and the ensuing press conference by Fed Chair Janet Yellen” on December 14.

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!
Tohono O’odham wants third-party judge to negotiate casinos case. But does the state? Here’s a portion of a statement issued by Tohono O’odham: “[T]he Nation offered to have a federal magistrate undertake expedited resolution of these issues. The state refused this offer…. The Nation is fully prepared to consider reasonable offers to settle this dispute. However, the state’s proposal… includes terms that have not been publicly disclosed that require additional consideration and analysis.” The Nation’s full statement and more on the casino dispute in The Glendale Star.

Maricopa County second in U.S. for job gains; wages outpace inflation. “The county gained over 50,000 new jobs… increased its workforce by 2.9 percent in 2016 over 2015, and [saw] wages [increase] 2.2 percent…. according to the Bureau of Labor Statistics.” For other  breakdowns, including the “[a]verage wage in Maricopa County by industry sector,” click to Phoenix Business Journal.

Arizonans face steep costs to catch up with transportation needs. “$20 billion in new dollars to construct, widen and maintain… freeways… [A]nother $40 billion…needed for other road projects.” And where will that much money come from? “[H]igher gasoline taxes”? A “new sales tax on fuel”? Increased vehicle registration fees? Motorist tracking!?! All of the above? Capitol Media Services Howard Fischer examines, in Arizona Capitol Times.

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