The Dealmaker: 12/15/2016

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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.
10-story apartment towers proposed for downtown Scottsdale. “Deco Communities wants to develop a vacant 2-acre lot east of Scottsdale Fashion Square mall as the Peacock Scottsdale, a high-density residential complex that would be among the area’s tallest at 115 feet.” And, based on this report from The Republic’s Parker Leavitt, not much is standing in the way of the Peacock strutting its stuff. Details and renderings here: http://bit.ly/2hpliY7

Maracay Homes closes on 9.4 acres near South Mountain. “The [$1.65 million] property… will be combined with a second property… [for a] total [of] 23.5 acres. The two parcels are near 32nd Street and the Highline Canal, and [have] been zoned for 54 lots…” For more on Maracay’ s plans for the area (a location which the company’s VP of land acquisition and development refers to as “almost boutique”), click to AZ Business Magazine. http://bit.ly/2hBc4py

NINTH CIRCUIT OR BUST?South Mountain Freeway opponents prepare for possible last fight. “[T]he… Ninth Circuit will begin receiving briefs [‘this week’] aimed at stopping the 22-mile freeway in its tracks…. And if the [court] rejects opponents’ arguments, their only recourse is to hope they can get a re-hearing or get the case on the U.S. Supreme Court docket.” Click to East Valley Tribune for more on a freeway that would serve as “a [much needed] bypass around the heavily congested segment of I-10.” Also get some background on both the Gila River Indian Community and PARC, and their failed attempts to stop the “building [of] a highway that has been on the books for more than three decades.” http://bit.ly/2hBcpZr

Northern Parkway Project, part 2 begins next year. “The second segment of a 12.5-mile roadway through the Northwest Valley… kicks off next year…. [with] the transformation of a 2.5 mile stretch from Dysart Road to 111th Avenue into a four-lane road with two lanes in each direction.” For a look back at the history of this project, plus construction timeframes for future segments along with funding info, head to YourWestValley. http://bit.ly/2hKFdBI

High hopes for Thompson tenure as he takes reins at the City of Scottsdale. In last week’s Dealmaker, we praised the selection of Jim Thompson for Scottsdale City Manager (as Jordan Rose has worked with him for over a decade in Casa Grande). Now, in this report from Terrance Thornton in Scottsdale Independent, members of the City Council do the same, weighing in on why they believe that, in Jim, they “[have] their man.” http://bit.ly/2hSq6Cm

DOWN’ ON THE FARM – True Life wrestles with distrust toward Ahwatukee Farms plan. “True Life has proposed about 279 houses, a private school, a five-acre community farm, a farmers market and a café for the former golf course site.” But, according to this report in Ahwatukee Foothills News, “by the end of their two-hour presentation last week, most of the approximately 80 people who attended appeared to leave the meeting unconvinced…” Still, could there be a “compromise” in the works? http://bit.ly/2hAhOAc

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!
Lucid Motors unveils the 2018 production model to be built in Casa Grande. “The manufacturer unwrapped the Air [‘the model luxury electric vehicle’] at its research and development facility in Silicon Valley…. The four-door sedan, which is expected to compete with Tesla Model S, Mercedes E Class and BMW Series 7 vehicles, will be priced at more than $100,000.” Read more about what’s in the Air and check out an 11-snapshot slideshow of the vehicle, in Phoenix Business Journal. http://bit.ly/2gNZ8Qp

After losing Lucid Motors, Sacramento fires shot across Arizona’s bow with new economic development push. “California’s capital city’s new mayor says he’s going after the EV and AV industry on which Arizona stakes a big claim….  [Mayor Darrell] Steinberg made the remarks in the wake of Casa Grande and Arizona beating out [Sacramento] for the $700-million, 2,000-employee Lucid Motors manufacturing plant.” Report by Eric Jay Toll, in Phoenix Business Journal. http://bit.ly/2hypHIR

Judge doesn’t order OK of Glendale gambling but will hear arguments. “U.S. District Judge David Campbell declined to rule that state Gaming Director Daniel Bergin is acting illegally in refusing to provide the necessary certification for Class III gambling at the [Tohono O’odham Nation] casino…. But Campbell agreed to consider arguments that the state, in continuing to regulate and collect revenue sharing from the tribe’s other three casinos, has effectively ratified the compact it now seeks to partially void.” Read the full report from Capitol Media Services’ Howard Fischer at Tucson.com. http://bit.ly/2hymrNE

Arizona water leaders confer with Colorado River states on drought contingency plan. Phoenix Business Journal’s Eric Jay Toll on how “Arizona is taking the lead on a series of high-level negotiations to stabilize Lake Mead and protect the state against losing water in the continuing drought.” http://bit.ly/2h4PoNP

 

Madera Court Apartments in Phoenix Sell for $36.25M Read more

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

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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