The Dealmaker: 3/20/2017

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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.


High-rise apartments planned to open next to new downtown Phoenix hotel. “Minnesota-based Mortenson Co., who officially broke ground [Friday] on the 11-story, 210-room Hampton Inn & Suites hotel at Central… and Polk… has proposed plans to build a 20-story apartment next to the new hotel.” View a rendering and find out why the project isn’t likely to face apartment-building backlash like what has occurred with some developments on “nearby Roosevelt Row,” in Phoenix Business Journal.

THE WRIGHT STUFF – Homes inspired by Frank Lloyd Wright go up in Cave Creek. “Cahava Springs will have 230 homes… designed by… Frank Lloyd Wright Foundation Taliesin School of Architecture.” And while the Republic’s Catherine Reagor wonders what Wright might say about the homes if he were still around, she’s quick to note that “he wasn’t known for being a particularly nice man. What homebuyers are willing to pay to live there might be a better testament to Cahava Springs’ design.” For an 8-image slideshow of the designs (interiors and exteriors), along with what it will cost to live in “a Wright-inspired home” [it “won’t come cheap”], click it —>

Fueled by optimism, residential Real Estate heats up. “Phoenix [is] sizzling… named Metro Phoenix the  No. 1… market in the country, predicting… home prices will jump 5.9 percent and… sales will jump by 7.2 percent this year.” Real estate consultant Jim Belfiore and other experts weigh in on the “trends to watch,” among them: interest rates, housing inventory and land costs. At AzBigMedia.

Meritage Homes CEO: Too much regulation drives up housing costs. “Steven Hilton, Meritage Homes CEO, weighs in on the surge in homebuilder optimism, and the push-pull of deregulation under the Trump administration.” Click to CNBC to WATCH the 5-minute interview (which features a great shot of Camelback Mountain in the background).

Size Matters: Most Americans dissatisfied with home’s square footage. “[A] recent Trulia/Harris Poll study… found that most folks want a different sized home than the one they’re in now; however, they don’t necessarily want to go bigger.” Get “key findings” plus a breakdown of the data by Age, Home Size, and Generation (Boomers vs. Millennials), at RISMedia.

Dealmaker BONUS: Arizona cities are happy, happy, happy. WalletHub’s data team set out in “pursuit of happiness,” aiming to find “which among 150 of the largest U.S. cities is home to the happiest people in America… based on 30 key indicators… ranging from depression rate to income-growth rate to average leisure time spent per day.” The report features heat-map rankings for the “Happiest Places to Live,” “expert commentary,” and tons of “happy” findings. Check it out.

As a supplement to the Dealmaker, we thought you might enjoy these articles!

ADOT’s newest 5-year plan does not include I-10 section north of Casa Grande. “As with last year’s plan, widening this section of I-10 [‘between Casa Grande and Chandler’] was not included among the list of highway projects. Expanding the gateway to Phoenix to three lanes is often mentioned by local officials…” Casa Grande City Manager Larry Rains: “We continue to beat the drum…” What the city is willing to do to “get something facilitated,” and more info on the 5-year plan, at Pinal Central

In pursuit of equal resident representation on Scottsdale City Council. “Mayor Lane is set to propose a new hybrid district council system in an effort to ensure all…citizens… have a stronger, and equal, voice on [the] City Council…. Under [the] proposal, three [council members] would serve at large while three… would be elected… from newly created districts serving north, central and southern Scottsdale.” Does the proposal have “legs”? Scottsdale Independent.

Trump budget would hire team of lawyers to secure land on border. “[The] 2018 budget calls for the hiring of 20 attorneys to help the federal government ‘obtain the land and holdings necessary to secure the Southwest border.’” A land-rights attorney and an ASU law prof weigh in on the attorney “stockpiling” and how securing easements and exercising eminent domain could get “complicated” for the government, likely leading to some “thorny court battles.” In Cronkite News

Obamacare in Arizona: Was it the right prescription? “[A]s the debate for replacing [Obamacare] rages on in Washington, some… Arizonans are left feeling uncertain about the future of their care…. [Additionally], many aspects of the Affordable Care Act can be difficult to understand.” In this 5-point“ guide on Obamacare in Arizona,” Cronkite News looks at how it works, how the state has fared, and why premiums have “skyrocketed” (an ASU econ prof calls it the ‘adverse selection death spiral’).

PIR’s Bryan Sperber has had eventful presidency. (Disclosure: Rose Law Group represents Phoenix International Raceway.) “This month is Bryan Sperber’s 15th anniversary as president of Phoenix International Raceway…” AZCentral looks at some of the “PIR highlights under Sperber’s leadership,” accomplishments which earn him praise from drivers Jimmie Johnson and Danica Patrick.

Federal court finds no child endangered by Indian adoption law; “U.S. District Court Judge Neil Wake said attorneys for the Goldwater Institute had not proven that any of the children they were claiming to represent had been harmed because of the requirements of the Indian Child Welfare Act…. [T]he Indian Child Welfare Act gives tribes… authority to decide placement of children with some native blood, ‘even those who have never set foot on a reservation.’” Capitol Media Services’ Howard Fischer has further details on the case as well as the ruling, at Arizona Capitol Times.

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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, data breach/privacy law, 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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