The Dealmaker: 12/14/2016

World class concert hall on track for Mesa. “[Consolari] would occupy the former Brown & Brown Chevrolet [site, in downtown]… In addition to the main auditorium, Consolari will include other indoor performance halls, an amphitheater, a rose garden… as well as … retail/restaurant space.” After checking out more about Consolari in this report from Gary Nelson for East Valley Tribune, we’re betting that you’ll find it hard to disagree with Gary when he touts that this five-years-in-the-making dream-project from Christi & Bob Worsley will be “one of the biggest cultural attractions in the American Southwest.” http://bit.ly/2hm9eqN

Arizona Board of Regents claims approval power over Arizona Coyotes arena on ASU land in Tempe. Regents VP Sarah Harper: “One of the conditions of [an] authorization [‘to execute ground leases in the Catellus-managed development district’] is that any material changes to the master development plan will require ABOR approval… A proposed arena… was not part of the original master plan and so would require approval…” See Mike Sunnucks report in Phoenix Business Journal for other “questions and moving parts to getting a new arena financed and built.” http://bit.ly/2hwhaTZ

Landowners looking to spur development near Promenade mall.  “Walton International Group… is seeking the approval of an amendment to a planned area development located south of Kortsen Road along the east side of Interstate 10. The proposed PAD, referred to as Casa Grande Commons, encompasses 591 acres of undeveloped land. … Walton is wishing to create a revised PAD near the Promenade that includes a set of new land-use designations.” For further details and a map of the Casa Grande Commons PAD, click to Pinal Central. http://bit.ly/2hlZ759

KB opens second neighborhood in Arizona master plan. “KB Home announced the grand opening of Shadow Glen, the builder’s second new home neighborhood in the Gladden Farms master plan in Marana, Az. Gladden Farms’ amenities includes miles of open space, extensive recreation areas, including twelve playgrounds, a community BBQ, basketball courts, and beautifully landscaped paseos.”  Further details in Builder. http://bit.ly/2h0TUNm

Y-Y-Y-YELLIN AND THE JETS – Yellen to tell the markets to ‘cool your jets.’ According to MarketWatch, “Federal Reserve Chairwoman Janet Yellen will use [today’s] press conference… to tell the market to chill out and not expect a flurry of interest rate hikes.” Does that mean that there won’t be any rate hike at all? Not according to Jefferies economist Tom Simons, who says: “The Fed will try to counterbalance the rate hike with the more comforting message that rate normalization will continue to be patient, gradual, and deliberate,”  http://bit.ly/2hwhwtw

How rising mortgage rates may not matter for housing. “After all, increasing rates are indicative of a stronger economy, and a stronger economy favors housing,” notes Diana Olick in her CNBC report. She surveys the mortgage-rate landscape in light of a possible rise on the horizon, with input from execs/economists at Fannie Mae, Redfin, Zillow, and Berkshire Hathaway. http://bit.ly/2hFMFhy

Here are Redfin’s 7 housing predictions for 2017. Spoiler: Homes will fly off the market. Want another spoiler? Not only will they “fly off the market in 2017” but they will do so “faster than any other year on record”!! That’s the view from Redfin’s Chief Economist Nela Richardson, as reported in HousingWire. For the rest of what Redfin expects, click it—> http://bit.ly/2gLLHil

TIME TO GET BUSY! – No quick end In sight for housing shortage. In his Forbes column, NAR Chief Economist Lawrence Yun examines the data pointing to “ongoing and growing housing shortage gaps,” and concludes that “[t]he only way to bring additional supply… is for homebuilders to get really busy.” http://bit.ly/2h18gNt

Trulia: Entry-level home inventory falls most in 3 years. (This Builder headline makes Lawrence Yun look like a genius!) “The number of homes for sale accessible to the average first-time home buyer saw its steepest year-over-year drop in three years, falling 12.1% since 2015, according to the Trulia Inventory and Price Watch report… It also found that these buyers will need to pay 1.9% more of their income on average to buy a starter-home in their local market.” But will “rising interest rate… ease shortages in some markets”? http://bit.ly/2h0Swdz