The Dealmaker: 4/11/2017

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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.





Phoenix out of top 20 as a best place for first-time homebuyers. Phoenix Business Journal looks at some of the findings from a SmartAsset study that “ranked cities in terms of mortgage lenders, volatility and average price per square foot among several other factors.” Check out how far outside the top 20 Phoenix fell and get the link to the full study here:

10 projects, 2 education options, 900 jobs coming to Glendale, other West Valley cities. “West Valley mayors recently wrapped up the season for State of the City speeches,” and this AZCentral report looks at “some of the projects [the] mayors teased during their speeches,” including: SanMar expansion in Avondale, an Ottawa University campus in Surprise, and a “technology and innovation” hub in Peoria.

Mixed-used development goes to Glendale Council. “City Council will hold a public hearing [at 6 p.m. this evening] on [Empire Group’s] proposed… development at the northwest corner of Bell Road and 51st Avenue… Planning staff has recommended applicant Empire Group’s proposal be approved based on a number of findings, including it is a creative and effective use of land.” More on the proposed 51 Campana in YourWestValley.

City properties shown off at Invest Peoria 2017, about 100 investors, developers attend. “The premiere sites, which the city showcased as their most desirable properties, included the Vistancia commercial core, a parcel in the P83 Entertainment District and Peoria Place, a large lot near the southeast corner of Cotton Crossing and Grand Avenue.” Coverage of the event in YourWestValley.

Rancho Mercado work starts, but homes are years away. “The [William Lyon] development in northwest Surprise is two years away from showcasing models… The area… has nothing resembling conventional infrastructure…. So the April 4 groundbreaking was more of a signal that the infrastructure is coming.” (Not to mention that it was also an opportunity for 10 well-dressed folks to don hard hats and put on their best shovel-ready poses.) YourWestValley has the story — and the photo.

MILLION DOLLAR BABIES’ – Median home price in Arizona’s most expensive zip code tops $1M. KTAR reports that it’s a zip code that “may lead to rubbing elbows with some celebrity residents, including rock legend Alice Cooper or Judas Priest frontman Rob Halford.” Click through to find out where and to get the link to the full Property Shark findings. (NOTE: Alice’s song is actually “Billion Dollar Babies.”)

Pollack: ‘Twas a good week. However, the Monday Morning Quarterback is at a loss to explain why the economy had such a good week, musing that it may have been due to the “weather” or just an “aberration.” MMQ also has these “Snapshots” —> U.S.: Labor Participation Rates (w/ charts), Orders & Inventories, Consumer Credit, Car Sales, Construction Spending. AZ: Sky Harbor – Enplanes & Deplanes, Phoenix – Listings/Resale Prices/Foreclosures, Tucson – Listings & Median Single-Family Home Prices.

Getting rid of ‘Animal House’: Frats criticize ASU’s $70M Greek Leadership Village. “The Village [at Terrace & Rural] will feature 950 beds and a separate, multimillion-dollar community center featuring a ballroom and meeting spaces…. Yet some members of ASU Greek community aren’t happy with plans for the new digs.” Complaints include “onerous lease requirements, the lack of upscale amenities… and a paucity of parking.” (However, no mention of any beef with ‘Dean Vernon Wormer.’) Get the full story and WATCH a video showing “what the Greek Leadership Village will look like when it opens next year,” in Phoenix New Times.

Cameron’s $5M + deals of the day –

Arizona’s Best Kentucky Derby Party May 6th at Turf Paradise –

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

Here’s how much more it costs to own vs. rent a home in every state. “To determine the monthly homeownership premium — the additional cost of owning instead of renting, expressed as a percentage — NerdWallet compared… American Community Survey data… for the median gross rent and median homeownership cost.” CNBC has the findings — heat map included —>

Property seizure bill on Gov. Ducey’s desk. “[T]he House on Monday gave final approval to HB2477, which makes a series of changes in the statutes about how property can be taken and what options are available for those who want to fight the government….The governor has through Saturday to make a decision.” Will he sign? Veto? See if there’s any “clear and convincing evidence” one way or another, in this report from Howard Fischer at Arizona Capitol Times.

Top teachers vent over Ducey signing voucher bill. “Five current and former Arizona teachers of the year told Gov. Doug Ducey today that they feel betrayed after he signed an expansion of vouchers last week.” Arizona Capitol Times reports that the teachers “delivered… a letter condemning his support for ESA,” writing: “Funneling public money into private hands with a total lack of oversight will only exacerbate [the teacher shortage] crisis.” And that wasn’t the teachers’ only gripe regarding the bill, which they call a “nuclear bomb” that “decimates public schools.”

Arizona history serves as key legal argument in states’ court brief supporting Trump travel ban. “Citing Arizona v. United States, the states aim to turn Arizona’s defeat over the notorious SB1070 into a victory for the Trump Administration. ‘The States possess no authority to restrict or set the terms of aliens’ entry into the United States… Instead, the States and their elected officials rely on the federal Executive Branch to carry out that function, pursuant to the laws of Congress.” More on the court brief at Cronkite News.

WE’RE NUMBER ONE! OH, WAIT… Colorado River tops group’s ‘endangered’ list — again. “The latest No. 1 ranking [by advocacy group American Rivers] covers the Colorado through the Lower Basin states of Arizona, California and Nevada.” Arizona Daily Star looks at some of the “key points about the river and its endangered ranking,” including “Why It’s Endangered,” “Reactions” to the ranking, and “How the River Might Get Off the List.”

Blandford Homes purchases Mulberry Master Plan Parcel 5 Read more

Portland on the Park comes alive as new residents move-in Read more

Skanska Completing Work on New Dexcom Facility in Mesa Read more

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