The Dealmaker: 1/23/2017

Yardi Matrix: Phoenix on fire. “Arizona is among the top handful of U.S. states for economic and population growth, creating strong demand for multifamily.” As for Phoenix, how “hot” is it? “Future supply is robust, with more than 10,500 units currently underway and over 23,000 in planning stage.” And what exactly is the Yardi Matrix? As Morpheus put it: “Unfortunately, no one can be told what The Matrix is. You’ll have to see it for yourself.” So click through to Multi-Housing News for highlights along with a link to the full report. http://bit.ly/2k9tz1w

Alliance to develop Broadstone Apartments. “A joint venture formed by Alliance Residential paid $6M to buy the 2.4-acre site… [Located ‘at the northeast corner of Third Avenue and Osborn Road,’ the site] is now occupied by two buildings built in the late 1950’s. Portions of the currently vacant structures will remain and be incorporated into the design [of, a ‘200-unit luxury apartment complex’ called Broadstone Midtown].” Design details and more on the joint venture at AZBEX. http://bit.ly/2k9p2fx

Optimism strong for Promenade mall. “[T]he Promenade has seen its ups and downs, with businesses coming and going….  2016 was a particularly down year [with ‘the high-profile closures’ of Target, Sports Authority, and Koko Wear].” So what’s got Casa Grande economic development manager Richard Wilkie, and Macerich rep Kevn Kepner so hopeful — not only about the mall’s prospects — but also about the outlook for the “entire area”? Find out at Casa Grande Dispatch. http://bit.ly/2iWGIxO

Builders pick up the pace this winter. “Housing production nationwide edged up 11.3 percent… Multifamily production… surged 57 percent… Single-family starts, on the other hand, fell 4 percent…” Get a breakdown of by region along with the numbers for single- and multifamily permits;  plus see what NAHB Chairman Granger MacDonald and Chief Economist Robert Dietz have to say about growth expectations for 2017 — at REALTORMag. http://bit.ly/2jRevYD

Whether expansion or recession in 2017, housing will survive. That’s the forecast from “Fannie Mae’s Economic and Strategic Research Group.” Mortgage News Daily’s Jann Swanson examines the “company’s expectations,” noting that although “Fannie Mae… has not changed its forecast to reflect the uncertain nature of policy actions… the timing and content of changes ‘could make the difference between an accelerating economy and a recession.’ In either scenario, its expectation is that housing will cope reasonably well.” http://bit.ly/2jResMt

Cameron’s $5M + deals of the day – http://bit.ly/2kkmZ7I

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