The Dealmaker: 1/20/2017

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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.
How Lucid Motors could ‘air up’ Arizona’s automotive sector. “Pinal County political leaders and economic developers are looking forward to what [the] startup… could mean to that county, the state and the region, if the company can gear up to start production by 2018.” See what kind of “big things… [i]t could mean… for Arizona’s auto supply chain that already produces about $629 million annually” — in Phoenix Business Journal. http://bit.ly/2jgrgsG

El Mirage makes statement in unveiling new city hall. “The two-story 21,900-square-foot building is on five acres of formerly agricultural land just south of Gateway Park at 10000 N. El Mirage Road.” But in a town with a name like El Mirage, can we be sure that the new $7.6 million City Hall building is actually there? Yes. Need convincing? Check out the story and images of the grand opening ceremony, at YourWestValley. http://bit.ly/2jgtzvA

Coolidge mayor: Passenger rail route would be ‘very beneficial’ to city. And what has Mayor Jon Thompson so psyched about even the prospects of such a rail line? It’s the Arizona Passenger Rail Corridor Study from the Federal Railroad Administration and ADOT. According to this Pinal Central report on the study, one “alternative” in “connecting Phoenix and Tucson,” would be a rail route running right through Coolidge. Mayor Thompson: “[T]he project is ‘real big for this community.’” Click through to learn more about the project, its funding, and “the next phase of studies.” http://bit.ly/2jgwunW

Plasma center rezoning draws large meeting in Glendale. Would a plasma center at 59th Avenue and Kings “attract an undesirable element and possibly more crime”? Neighbors and the Glendale City Council think so. YourWestValley reports that “residents persuaded the council to unanimously reject a rezoning request that would have allowed for [BioLife Plasma] to set up shop [on ‘2.59 acres at 16480 N. 59th Ave.’] Read the story here: http://bit.ly/2j2R7Xa

Florence strategic plan committee outlines priorities. “Committee members… presented to the Town Council their five priority areas to pursue… communication; community vitality; economic prosperity; leadership; and transportation and infrastructure.” Among reactions to the plan? “How do we make [prisons] part of what is alluring about Florence?”… “I think Florence dropped the ball years ago when they let Coolidge take the airport.”… “[‘Territory Square master plan for the Gila River area is’] the best piece of real estate left in Arizona.”… “We don’t… have to spend a ton of money to become a community with much more vitality.” Much more on the plan along with reactions to it, at Pinal Central. http://bit.ly/2jgER3d

Lawmakers: Obama won’t OK Grand Canyon monument before leaving. “[O]pponents and supporters of the Greater Grand Canyon Heritage National Monument Act said Obama will not make the declaration, which would permanently put affected lands off-limits to new uranium mining and logging.” Rep. Raul Grijalva said he was “disappointed and actually quite frustrated” by the inaction, while Sen. John McCain said he was “encouraged that the administration does not appear to be moving toward another [federal land grab of 1.7 million acres].” More on this in Cronkite News. Meanwhile, today is Inauguration Day, a time to bid farewell to President Land Grabber and to say hello to….  Ehh, better not go there. http://bit.ly/2iTlYSG 

Arizona’s job growth falls below national rate. “Arizona gained only 6,300 net jobs in December, closing 2016 with half the growth seen in 2015 and falling below the nation’s overall pace. The slowdown… added to the caution economists are feeling about the state’s finances as lawmakers prepare the fiscal 2018 budget.” More on this and “other uncertainties [that are] causing caution,” at AZCentral. http://bit.ly/2jVrc2c

HUD: Housing conditions for Native Americans much worse than rest of U.S. “HUD’s findings were similar to problems found by a recent Republic investigation into the Navajo Housing Authority, tasked with easing the tribe’s housing shortage but has built few new homes.” Among the findings: “Physical deficiencies in plumbing, kitchen, heating, electrical, and maintenance issue”; “[o]vercrowding and other physical-condition problems.” — AZCentral http://bit.ly/2jHtWm6

Bit by bit, rising interest rates are making an impact. “Interest rates are on the march, or at least the crawl… rising for the past half year, though not yet in a big way — and from historically low levels. Economic growth isn’t robust enough, or inflation warm enough, to justify big rate increases any time soon. Still, the impact from rising rates is starting to be felt.” Republic business reporter Russ Wiles examines at AZCentralhttp://bit.ly/2jVxUF8

Cameron’s $5M + deals of the day – http://bit.ly/2jgp0kT

Get ready to love where you work: Rose Law Group is hiring a Commercial Litigator – http://bit.ly/2hRxUZH

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!
Huge issue down south. Tax breaks. Herbicides. Seed biodiversity. Arizona Daily Star reports that “the biotech giant Monsanto Co. has been taking a verbal pounding” on these issues and more during “public meetings on its plan to grow corn in an Avra Valley greenhouse on 7 acres.” The latest pounding? “Wednesday night on Tucson’s west side” where “a standing-room-only audience grilled a Monsanto official and a Pima County official…” Read the story here: http://bit.ly/2jxwm4L

Arizona unemployment rate drops for 5th consecutive month. “Arizona’s jobless rate continues to decline but there are indications that the recovery may be losing air.” Is the unemployment figure from Pinal County one of these “indications”? Capitol Media Services’ Howard Fischer reports that in Pinal “the rate remained unchanged at 4.9 percent, which was the level in the previous month.” Read the report and see what “Doug Walls, research administrator for the state’s Office of Economic Opportunity” has to say about these latest figures, here: http://bit.ly/2kbbHXh

N.J. Supreme Court: Towns must have affordable housing. “The… court… reject[ed] arguments [that] local governments faced no legal requirement to provide affordable housing for poor and middle-class families… The ruling [is] likely to spur [or perhaps “force”?] the development of tens of thousands of affordable housing units… over the next decade.” Want more on the ruling and the “potential challenges” it could create, including how it might “lead to more sprawl and higher property taxes“? Then click through to NorthJersey.com  Either that or fuhgeddaboudit! http://bit.ly/2iKlRO4

46-Acre Mixed-Use Center in Peoria Sold for $34.45 Million Read more

Greater Phoenix Office Market Improves Despite Slowing Job Growth Read more

CBRE Completes the $26.4M Sale of Park Ladera at Spectrum Ridge 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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