The Dealmaker: 2/23/2017

Extensive infrastructure needed for Casa Grande amusement park project.(Disclosure: Rose Law Group represents the developers of Dreamport Village.) Among the infrastructure needs? “[A] roadway network that incorporates existing freeways,” including a “new interchange at Henness Road and I-8” — which the “[FAA] has already determined… to be operationally acceptable.” More at Pinal Central. http://bit.ly/2ldxeeC

Hotel coming to First and Polk Streets in downtown Phoenix. “[Mortenson] has started [development] on a 210-room, 11-story Hampton Inn & Suites… near the ASU Downtown Campus…” Just one look at the rendering at AZRE and it’s easy to see why Mortenson’s Nate Gundrum touts the development as “a great addition to the Downtown Phoenix lodging supply.” —> http://bit.ly/2lzRdoO

North Scottsdale land sold for $7.1 million; multi-use planned. “[The] 4.5-acre land parcel [is] near Scottsdale Road and Princess Boulevard… The project will include a “300-unit, 4-story luxury apartment complex… at the [SW] corner of Scottsdale road and Chauncey Lane.” Check out the aerial and get buyer/seller details at AZRE. http://bit.ly/2lJYGnq

Would Gold Canyon be interested in merging with city of Apache Junction? (Apparently not as much as AJ is interested in merging with Gold Canyon.)… Mayor Jeff Serdy: “If the city gets to 50,000 people, you get on a whole different level of funding… from the feds and much more state-backed matching revenue… ” And, at a “special” city council meeting held recently to discuss the matter, it must have seemed like most of those 50,000 were there. According to Apache Junction Independent: “Seats… were filled… [with people] along the walls and windows and many more were outside because the room was at capacity.” Read the coverage here: http://bit.ly/2mh5WoT 

Multifamily to keep growing in 2017. In this AZBEX report, Roland Murphy focuses mostly on the Phoenix market, where “highly desirable climate and comparatively lower living costs are expected to keep demand high and vacancy rates low.” http://bit.ly/2mc1FWY

January home sales reach highest level in a decade, Realtors say. “Purchases… increased 3.3% from December… a sign last year’s momentum in the sector extended into 2017 despite a limited supply of properties-for-sale and rising prices.” Click to the WSJ for more, including   juicy quotes about the positive numbers from Redfin’s Nela Richardson, NAR’s Lawrence Yun, Nationwide’s David Berson, and Zillow’s Svenja Gudell. http://bit.ly/2mpAhkc