Marriott bringing 120-room hotel west of Phoenix and property owner approved for a billboard. (Disclosure: Rose Law Group represents Virtua.) “The 20-acre project [‘at 91st Avenue and McDowell’] is being developed by Virtua Partners in Tolleson. The planned hotel will operate under Marriott’s Fairfield Inn & Suites brand.” For more on “this highly visible property…. right off of Interstate 10” (including project-site photo and hotel rendering) tap to Phoenix Business Journal. http://bit.ly/2ofDEiD
Phoenix ‘Midcentury marvel’ bank building demolished near Hance Park. “The plans [were] announced last year to turn what was once the Willetta Branch of Valley National Bank to rubble… Phoenix’s Historic Preservation Commission didn’t take action to protect the building… By 11 a.m. Wednesday, one portion of the building remained as a bulldozer left piles of bricks…” Check out images of the ‘marvel’ getting thrashed, find out what’s being built in its place, and learn how its demise was “used it to spur changes to the city’s demolition process,” at AZCentral. http://bit.ly/2odevoc
Phoenix industrial commercial real estate market is still gaining momentum. “Looking toward 2017, Phoenix ranked the No. 3 market to watch for industrial real estate. The construction forecast for the year is looking at nearly 4 million square feet in the first half of 2017, and more than 6 million square feet to be developed by the end of the year.” Industry leaders weigh in on the market’s “bright future,” in Phoenix Business Journal http://bit.ly/2nPZVCv
Pending home sales surged in warm February. “[NAR’s] pending home sales index… climbed 5.5% in February from the prior month to 112.3, its highest level since April 2016 and the second-highest reading since May 2006. Economists surveyed by The Wall Street Journal had expected a more modest 2.1% gain.” NAR’s Lawrence Yun “credited unusually warm weather” and three other factors.—> http://bit.ly/2oDgijf
Refinance applications fall to eight-year low. “According to the MBA’s latest Weekly Mortgage Applications Survey… the refinance share of mortgage activity declined to 44% percent of total applications [‘a level not seen since October 2008’]. For the full mortgage-application breakdown, click to HousingWIre. http://bit.ly/2nA07E3
What has mortgage lenders so upbeat? (It’s definitely NOT the mortgage application news mentioned above!) “Lenders say they’re most upbeat about the direction of the economy and home prices. They also continue to report modest easing of credit standards across all loan types, with plans to continue to do so over the next three months.” More from “Fannie Mae’s 2017 Sentiment Survey,” plus Chief Economist Doug Duncan talks about “lenders’ profit margin outlook,” in REALTORMag. http://bit.ly/2oD6FRA
Homebuilders struggle to fill jobs; immigrants helping. Homes taking “longer than normal” to build… Contractors “doubling their wages to keep workers”…. The supply of homes “continuing to fall”… An industry veteran saying that he “could add 50 percent more homes if he just had the people to build them,” and that he has “never seen anything like this” in Denver. But this report from CNBC’s Diana Olick doesn’t just focus on the Mile-High City; it also looks at the “immigration and…generational challenges” that builders now face in the country as a whole. http://bit.ly/2ofFyjr
There’s no scarcity of parking spaces — what’s lacking is sharing. “[D]evelopers… can’t seem to nail the parking-space formula — putting the right number in the right places…” But as this MarketWatch piece notes: “There’s actually an ample inventory of parking… [S]paces just need smarter use.” Enter what could be a solution: Parking apps. (What also might help free up spaces — and decrease incidents of parking-lot rage — is if fewer people sat in running cars, reverse lights aglow, only to open the car door 20 minutes later, stick a head out, and mouth the words, “I’m not leaving.” Someone should create an app that deals with that! http://bit.ly/2oDlBip
Cameron’s $5M + deals of the day – http://bit.ly/2oD089l
As a supplement to the Dealmaker, we thought you might enjoy these articles!
My sin as a press secretary. Using White House Press Secretary Sean Spicer’s recent battles with members of the press as a jumping off point, Senior Writer/Reporter Phil Riske recounts an incident back in 1973 when, while working as a press secretary himself for a U.S. Senator, he skillfully (and sinfully) fended off “hammering” queries from the “era’s best-known investigative reporter.” Check it out in Rose Law Group Reporter. http://bit.ly/2nE8noa
Former Gov. Jan Brewer says politicians who support sanctuary cities should be jailed. “Brewer said her biggest concern is with cities who allow illegal immigrants with criminal records to walk free….‘What are they thinking? They ought to be in jail, really… They’re harboring and protecting criminals. It’s unbelievable that they would… get away with this.’” (While this KTAR report has more from Brewer, it’s curious that there’s no mention of 8 U.S. Code § 1324 – Bringing in and harboring certain aliens.) http://bit.ly/2nEaYhA
Arizona urges U.S. Supreme Court to overturn ruling on driver’s licenses for ‘dreamers.’ “[In 2012, Governor Jan Brewer] issued an executive order declaring that DACA… did not entitle those accepted into [it] the right to drive…. [Governor] Ducey… has refused to rescind the… order. And that has left [Atty. General] Brnovich… to defend [it]…. [B]riefs filed March 29 ask [SCOTUS] to overturn rulings… which… concluded… Arizona has no right to unilaterally decide the issue…” Capitol Media Services’ Howard Fischer has the full report, at Arizona Capitol Times. http://bit.ly/2nkkymm
Arizona attorney general part of group backing Trump’s travel ban. “Attorney General Mark Brnovich is part of a group of 11 other state attorneys general and one governor backing Trump’s travel ban on six primarily Muslim countries.” For the other states involved along with PBJ’s extremely brief summary of what they asked the “4th U.S. Circuit Court of Appeals” to do (if you haven’t figured it out already), click through. http://bit.ly/2olSWPt
Ducey orders boards and commissions to explain their existence. “Ducey said 27 state boards need to tell him what requirements exist for professional licenses, including training, education and fees…. The executive order is part of Ducey’s ongoing efforts to lessen regulations and reel in state boards and commissions….” KEY QUOTE: “Government should never stand in the way of someone’s efforts to start a new life or profession….” Arizona Capitol Times. http://bit.ly/2nnXXGB |
