The Dealmaker: 3/3/2017

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Commission reviews Pinal County destination resort project. (Disclosure: Rose Law Group represents the developers of Dreamport Villages.) “Casa Grande… Planning and Zoning Commission reviewed the ‘Dreamport Villages’ project [last] night [and the commission unanimously APPROVED moving forward ‘with land use type of studies’]. Block Sports Company is planning to build [the] $4 Billion destination resort near the junction of [I-8] and [I-10].” Read/WATCH the Fox 10 report. http://bit.ly/2mjxnkg

60 acres near South Mountain purchased. (Disclosure: Rose Law Group represents Virtua.) “Investment firm… Virtua Partners… acquired [the property] at the northwest corner of 35th Avenue and Carver Road with plans to revise existing entitlement on the land for single-family residential housing.” Terms of the purchase and Virtua’s plans for the property at AZRE. http://bit.ly/2mjyXT0

A remodeled Phoenix Suns arena downtown? City studying idea. “City Council members voted… to pay Barrett [Sports Group]… $75,000 to study the feasibility and cost of a renovation [that’s on top of $190,000 Barrett has been paid to “research… options for building a new… arena’].” AZCentral reports that “renovating the existing facility could be cheaper and comes with a possible political advantage…” http://bit.ly/2m3VPWi

Florence council sets priorities in strategic plan. “After some discussion at the Feb. 24 work session, the council chose for its priorities community vitality, economic prosperity, leadership and governance, strategic partnerships and relationships, and transportation and infrastructure [with ‘communication… included as an important part of each priority’].” Coverage of the council’s “daylong work session with department heads,” at Florence Reminder. http://bit.ly/2mOo1uv

Two hotels announced for Downtown Tucson, including a Moxy Hotel.“Marriott announced plans to develop a Moxy Hotel, its hip Millennial-minded hotel concept….” (Based on the rendering of the place, “Moxy” isn’t a bad name for it!) “Scottsdale-based Caliber Hospitality also has plans in the works for a 125-bed hotel in the east parking lot of the recently remodeled… Convention Center.” Pretty significant developments for what AZRE reports is a town that “hasn’t seen a new hotel in 30 years.” http://bit.ly/2mULVnf

Home price expectations by state. “The median expected increase in home prices across the country is 3.5 percent, according to the REALTORS® Confidence Index January 2017 survey, based on the responses of more than 3,800 REALTORS® across the country.“ See where Arizona stacks up and read the full RCI report in Scribd. —> http://bit.ly/2mBg7rM

Clayton Holdings exec: We don’t expect Republicans to successfully repeal Dodd-Frank. Chief revenue officer for Clayton Holdings, Andy Pollock, notes in his coverage of the Structured Finance Industry Group Vegas conference that while “Dodd-Frank, the Consumer Finance Protection Bureau and its director will be in the GOP’s cross hairs,” it is “unlikely that Republican lawmakers will… totally repeal the law and/or scuttle the agency and its leader.” Find out what it is that may thwart the GOP effort and read more about the Vegas conference, inHousingWire. http://bit.ly/2mjyBMg

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Because you are an informed person, as a supplement to the Dealmaker, we are providing you 3 (sometimes more/less) non-real estate related articles we thought you might enjoy!

Sessions reassures senators: No pot crackdown imminent. “[Attorney General Jeff] Sessions has rattled both libertarians and liberals in ordering a review of the hands-off pot policy under President Barack Obama. But Sessions provided some private assurances to senators before he was confirmed that he was not considering a major shift in enforcement, despite his opposition to the use of marijuana.” Does this mean that recreational pot smokers can now breathe easy? Check out the story in POLITICO. http://bit.ly/2mmRrCH

Coyotes exploring Sloan Park in Mesa for new arena. “[Mesa Mayor John] Giles said he’s been involved in discussions… Giles said the area surrounding Mesa Riverview and Sloan Park is ‘some of the most prime real estate in the state if not the country’… noting that several others have also expressed interest in the land.” However, according to Mayor Giles, “‘serious conversations’ with the team hinge on” a certain piece of “pending” legislation. More on this legislation and the (so far, unserious?) talks at AZCentral. http://bit.ly/2mBgTVu

Ducey counts on Trump to fund road improvements. [Gov. Doug Ducey] has submitted a wish list of more than $500 million worth of projects to the White House that he hopes will be included in the president’s grand plans for major infrastructure improvements. Most of them involve upgrades to existing roads… But the governor’s bid for money from Washington does not end with pavement.” A report from Capitol Media Services’ Howard Fischer, in Today’s News Herald at HavasuNews. http://bit.ly/2mOmCUV

Ken Bennett angles for Maricopa County elections job. What sort of “angling” has Ken Bennett been engaging in? According to AZCentral, the former Sec. of State “called members of the Maricopa County Board of Supervisors recently with a pitch [that if] the supervisors split off the elections department from the Recorder’s Office [taking ‘elections authority away from Recorder Adrian Fontes’], they could appoint him elections director and have him report directly to the board.” Reaction? “County officials don’t seem keen on the idea.” http://bit.ly/2mBj8s4

Real Estate News Releases

CBRE Completes $10.55 Million Sale of Desert Canyon 200 Read more

HonorHealth Anchored Medical Complex Trades for $10.6M Read more

Phoenix Multifamily Market Closes 2016 With Slower Activity Read more

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csmith@roselawgroupreporter.com

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, 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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March 3, 2017

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By Allison Kotzbauer | Paradise Valley Independent Paradise Valley is standing out in the Valley’s luxury housing market, with home prices continuing to climb while much of the Phoenix metropolitan area

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