Opus Group recommits to the Phoenix market. “During the Great Recession, Opus Southwest left the market… In 2014, a new company named The Opus Group entered… [and is now] carrying out a plan to become a leading developer once again…. [with projects that]… include the mixed-use high-density development in Tempe known as 7S, and the Goodyear Crossing Industrial Park.” For details on these projects as well as info on the makeup of Opus Groups’ “new” team, tap to AZBEX. http://bit.ly/2mQcRcc
NATIONWIDE IS ON GILBERT’S SIDE – Spec office buildings slated for big 250-acre Gilbert development. “The two buildings are 60,000-square-feet and four stories each and are at [Nationwide Realty Investors’] Rivulon’s project at Gilbert Road and Loop 202…. Nationwide… is also looking to bring a hotel to the project which also include a Mercedes-Benz dealership and a retail center that includes a Sauce Pizza & Wine and Grabbagreen.” Further details and rendering at Phoenix Business Journal. http://bit.ly/2nhwJjU
Peoria Mayor touts city accomplishments at State of City address. “[N]umber 7 on the Yahoo Finance list of America’s 50 Best Cities to Live… number 11 on the WalletHub Best City for Jobs list… number 5 on the WalletHub list of Best Cities for People with Disabilities” — and that’s not all! Get more touts and “the full text” of Mayor Cathy Carlat’s address in YourWestValley. http://bit.ly/2nAMSEM
Marsh chosen to fill Coolidge City Council seat. “Joseph Marsh will be sworn in at the next council meeting on April 10. He had served for a year and a half on the Coolidge Planning and Zoning Commission.” And what will be “Marsh’s focus”? Find out at Pinal Central. http://bit.ly/2nAIipK
Home prices rise at fastest pace in 31 months. “The S&P CoreLogic Case-Shiller Indices… rose 5.9% in the 12 months ended in January, the strongest increase… since mid-2014…” It’s well known that “limited supply” is one of the “big driver[s] of price gains.” Head to the Wall Street Journal for the other factors and to find out which markets are “showing signs of overheating and may experience a correction.” http://bit.ly/2nk23zm
Hispanic homeownership rate rises for second straight year. “[The] rate increased to 46 percent last year… [It] was 45.6 percent in 2015 and 45.4 percent in 2014…. [M]ore than 7.3 million Hispanic households owned their homes in 2016, with 330,000 new households added…” RISMedia has more on the “2016 State of Hispanic Homeownership Report,” including what’s “compelling Hispanics toward homeownership.” http://bit.ly/2njU1Xn
The economy’s thorn: low ownership rates. “The homeownership rate is near its lowest level in more than 50 years.” What “culprits [have] contribute[d] to the decline”? In what regions has ownership declined the most? Why do “researchers remain optimistic that rates will stabilize and possibly even improve”? REALTORMag looks at some of the findings from the “newly released” report “Homeownership in Crisis: Where Are We Now?” —> http://bit.ly/2njVBbN
Dealmaker BONUS: Investor makes $750,000 flipping Donald Trump’s childhood home in Queens. (Or, since such wheeling and dealing involves a political figure, one might think of it as ‘flip-flopping’ a home.) “[Michael] Davis snapped up the home in December for $1.39 million… Five days before Inauguration Day… [he] sold [it]… The sale officially closed… last week for $2.14 million…” MarketWatch has more on the Trump tudor, including a photo and a little of the family’s history there, plus info on how the “value of the property has bounced around… in response to the… election.” (The “former owners… first listed the house in July… but it didn’t sell.”) http://bit.ly/2obmUZQ
Cameron’s $5M + deals of the day – http://bit.ly/2nht6ud
As a supplement to the Dealmaker, we thought you might enjoy these articles!
The House just voted to wipe away the FCC’s landmark Internet privacy protections; Lauren Reynolds, Rose Law Group litigation attorney who focuses on privacy and data breach issues, comments. “House Republicans freed Internet service providers such as Verizon, AT&T and Comcast of protections approved just last year that had sought to limit what companies could do with information such as customer browsing habits, app usage history, location data and Social Security numbers.” What this could mean for internet service providers and their customers, in The Washington Post. Lauren Reynolds: “Whether or not these rules are repealed… individuals must be ever vigilant in safeguarding their personal information, especially when using it on the Internet. Unfortunately, even when in place, such rules and regulations are not a guarantee that that information will be appropriately protected.” http://bit.ly/2nAEDs9Groups fighting initiative restrictions; marijuana referendum now more a priority, says Rose Law Group Partner Ryan Hurley. “[Gov. Doug] Ducey signed HB2404, which bans the incentive practice of paying petition circulators per signature for citizens’ initiatives… [A]dvocacy groups are contemplating several potential ways to fend off the bill’s provisions….” Arizona Capitol Times looks at some of the “options.” http://bit.ly/2ohzdRc
Court rejects power co-op’s appeal for $7 million tax refund. “The Arizona Court of Appeals… rebuffed arguments by the Arizona Electric Power Cooperative that it need not pay the state’s use tax on coal and natural gas it purchases from out-of-state suppliers.” According to Capitol Media Services’ Howard Fischer in Arizona Capitol Times, not only does this mean that “the co-op — and it’s customers — [won’t] get back the nearly $7.3 million paid between 2003 and 2010,” but it “also means the co-op remains liable for the taxes on its purchases since then and into the future.” http://bit.ly/2nhuOMb
TRUMPGATE? – McCain predicts more ties between Russia and Trump campaign will be uncovered. Sen. John McCain: “One thing I can predict to you unequivocally, there will be more coming out.. These things happen periodically in Washington, whether it be Watergate or whether it be much lesser kind of scandal…” More from Sen. McCain at KTAR. http://bit.ly/2mQmY0P
Ak-Chin files suit against CAP for water threats. “Lawyers [for the Ak-Chin Indian Community] filed a complaint… in federal court to ensure the [Central Arizona Water Conservation District ] continues delivering water entitlements to the community… [The] water district [had] suggested it would not be able to continue delivering 10,000 acre-feet of water… The plaintiff’s complaint calls for… a declaration that Ak-Chin is entitled to the water… under agreements made… more than 30 years ago.” Pinal Central http://bit.ly/2nMsEbx
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