Mountain Shadows opens doors April 1. “Known as a landmark property in the 1960s and 1970s, Mountain Shadows has made its long-awaited return to serene Paradise Valley, 10 minutes from Downtown Scottsdale. The highly anticipated, $100-million new resort… in the shadow of Camelback Mountain…. is 12 years in the making and is the first resort to open in Paradise Valley in eight years.” For a brief history of Mountain Shadows along with a rundown of features and amenities included in this “new build” from Westroc Hospitality and Woodbine Development Corporation, click here: http://bit.ly/2odD5mb
MEETING A DEMAND – 60-unit boutique assisted-living in north Phoenix. “The two-story complex [at Greenway & 40th St.] will cover 30KSF of the nearly 90KSF lot. The 30-foot tall building features a Southwest design character and includes a fully-enclosed central courtyard….” View a rendering of “Emerald Bay Senior Living,” check out its other features, and get details on the area’s “unmet demand of… net assisted living beds” — at AZBEX. http://bit.ly/2ne5xma
Domino Effect: Newest Buckeye developments position area for growth. “Verrado… one of the best-selling master-planned communities in the nation… is spurring the development of a nearby commercial district… Consistent with the philosophy that ‘retail follows rooftops’… the [‘150-acre’] Marketside District, has seen an increase in interest from site selectors and businesses.” DMB’s commercial leasing and sales director sees it as a huge part of “a tidal wave of growth heading [in Buckeye’s] direction.” More on Marketside at AzBigMedia. http://bit.ly/2nfTcyD
Outer suburbs once again outgrowing cities. “Central counties of metropolitan areas grew 0.7% last year while outlying counties grew 1%… [T[his marked the first time since the recession that outer suburbs clearly outgrew central cities and inner suburbs.” Details on what “contributed to the shift” and how “it spells good news for Sun Belt metros” — in the WSJ. http://bit.ly/2nrAtRR
Pollack: The good and bad news of Arizona’s population. After a week off from our Dealmaker lineup, The Monday Morning Quarterback returns in top form, leading off with the admission that “Arizona data is puzzling at first glance.” What follows is a detailed look at the causes and effects of “population flows” in the state. “Snapshot” topics include… U.S.: New Orders, Mortgage Rates, New & Existing Home Sales. AZ: Labor Force, Unemployment Rate & Job Gains – Greater Phoenix & Tucson, Hotel Occupancy, Permit Activity – Southern Arizona (It was “strong.”) http://bit.ly/2ne0QsG
Home equity continues to strengthen, but at a slower pace. “The 2.6 [percent] decline over 2015 is down from the 3.8 point drop between 2014 and 2015, and less extreme still than the 8.1 [percent] decrease in negative equity… between 2012 and 2013. [I]n 2016, 1.2 million homeowners emerged into the black [while] 5 million… remain mired in the red.” See what’s forecasted for the year ahead and check out CoreLogic’s heat map for Arizona county data — at Inman. http://bit.ly/2nIYpSP
This is what’s behind the severe housing drought. “The supply of homes for sale is now at the lowest level since [NAR] began tracking inventory 18 years ago…. Builders say… costs for land, labor and materials are too high right now, and starter homes squeeze their margins.” Economist Lawrence Yun sheds some light, however, on why “builders aren’t the whole crux of the problem”; plus, find out what happened with data in February that “could be a good sign” — at CNBC. http://bit.ly/2nfXBSc
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Late-arriving bill aims to tighten Arizona ballot-initiative rules even more. Did you include a name that “voter-registration rolls don’t show”? Did you fail to include a “street designation” such as “avenue”? Don’t have the right size petition sheet? Did you dot a T or cross an I? AZCentral reports on a “new bill… [that] would require elections officials to toss out signatures if they don’t strictly comply with legal standards.” http://bit.ly/2ouZrz5
The real estate industry has something the Internet can’t offer: The human element. “[T]he Internet has pummeled the middlemen in many industries — decimating travel agents, stomping stock-trading fees, cracking open the heavily regulated taxi industry… Experts have been predicting the [same] demise of real estate agents…. Agents thought so, too…. Yet agents stand to earn more in commissions today than in the pre-Internet era.” The Washington Post http://bit.ly/2nrzoJF
What’s being done to improve Arizona’s infrastructure. From “raising the gas tax” to “broadband… for rural schools” — AzBigMedia looks at some pieces of infrastructure “legislation considered… this year” along with a few “infrastructure investments” that Gov. Doug Ducey proposed in “his State of the State address” and in “his executive budget.” http://bit.ly/2nfClfD
Spring thaw: Ducey proposes 97 new state jobs to end hiring freeze. “The call for new positions irked [Republican Rep. Anthony] Kern and some of his fellow fiscal conservatives… who argue any increases… are an unnecessary bloat of government at a time when the state doesn’t have money to spare.” Among the “new positions”: “25… at Department of Child Safety, 20 at the State Forester and 10.5 at Department of Education.” (That last position might be a little tough to fill, though — finding .5 of a person? OTOH, if successful, it might help to placate Rep. Kern since it would probably require only half-salary!) More at Arizona Capitol Times. http://bit.ly/2nfWDW2
Andrew Barroway exploring buying out Coyotes’ minority owners. [The “Coyotes majority owner Andrew] Barroway is exploring bringing in new partners to raise the money necessary to do so, with Tampa Bay Rays minority owner Randy Frankel mentioned as a possibility in a newly constructed ownership group.” KTAR. And how might this “newly configured ownership group” impact the Coyotes’ search for a new arena? –> http://bit.ly/2nem61c
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