The Dealmaker: 4/20/2017

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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.

 

 

 

 

Rose Law Group selected Best Real Estate Law Firm by ‘Arizona Foothills Magazine.’ Rose Law Group has been chosen as the Best Real Estate Law Firm in the Valley and is “featured in the April 2017 issue of Arizona Foothills Magazine, a tell-all guide to the best people and places in the Valley of the Sun, as chosen by its residents.” http://bit.ly/2ovmBop

Maricopa approved world class private motorsports club 7-0. (Disclosure: Rose Law Group represent APEX Motor Club) “Two high-profile attorneys [Jordan Rose and Grant Woods] butted heads over a proposed motor sports facility [APEX Motor Club] on Tuesday, eventually leading to a defiant Maricopa City Council unanimously approving a conditional-use permit…” Read about it and view renderings at Pinal Central. http://bit.ly/2pHFV6m

GIMME A BREAK? – Roosevelt Row high-rises get $9 million tax break from Phoenix. “City Council on Wednesday approved [a $9M GPLET in] an agreement with Clark Street Holdings… to build three residential towers… at Third and Pierce.” AZCentral also reports that Councilman Michael Nowakowski wants to hear a request for a hearing regarding a tax break for the “downtown Circles building,” but it’s “unclear if that request will move forward.” http://bit.ly/2oqNWJ1

The Renaissance of Renaissance Square in downtown Phoenix. Cypress Office Properties and Oaktree Capitol Management are “looking to remake Renaissance Square with a [$50-million] multi-phased set of renovations…” PBJ has details on the remodel, which could be dubbed “The Millennial Makeover.” Plus, view a slideshow featuring a rendering of the “modernized” lobby, and see what Cypress’ co-founder Mark Wayne finds “fortuitous for Renaissance Square’s hoped for rebirth.” http://bit.ly/2oONrvd

San Diego developer lands $500K modern townhouses in Arcadia. “TrueCraft Residential has built 36 high-end townhouses in the Arcadia neighborhood of Phoenix. The Novella at Arcadia is located on 36th Street south of Camelback Road.” TrueCraft’s CEO talks up the project — and the area — in Phoenix Business Journal. http://bit.ly/2o8vvwW

Edison Road extension opens as ‘mini-loop’ to SR 238. “The extension was built to provide access to the Estrella Gin area… The road is four lanes with curb and gutter, sidewalks and medians with turn lanes as it loops from westbound to northbound.” Mayor Christian Price, who called Tuesday’s opening “pretty monumental,” also said: “It may just be a road to many people, but to me it’s the future of our economic development.” Get further details and take a fast and furious video tour of the loop — at inMaricopa. http://bit.ly/2ov7w6j

Maricopa town hall focuses on transportation, development. More specifically, the transportation discussion centered around the “State Route 347 overpass” and the project’s impact on local businesses, while economic talk honed in on the Edison Pointe development. Pinal Central’s coverage of the town hall includes three virtual tours “of what drivers should expect to experience once the State Route 347 overpass is completed.” Pretty cool. Check ‘em out. http://bit.ly/2pHy46j

Moving to Maricopa County, 222 people at a time. “Maricopa County’s population increased by nearly 2 percent from 2015 to 2016, or about 222 people a day, according to the U.S. Census Bureau. Buckeye… is one of the county’s quickly growing cities…” Cronkite News looks at Buckeye’s growth, what folks find most appealing about the city, and what officials are doing to “lure” even more people (and businesses) to the area. http://bit.ly/2oZQ91a

Fewer new homes in pipeline pushes up prices. NAR chief economist Lawrence Yun weighs in on the housing-starts slide, calling it “disappointing,” and adding that “[h]ome prices have risen by 41 percent and rents have climbed 17 percent over the past five years at a time when the typical worker wage has grown by only 11 percent.” More from Yun, plus a “housing production” breakdown by region, at REALTORMag. http://bit.ly/2pHl1BP

Urban Land Institute forecast: Housing starts expected to jump while prices moderate. “If you asked 53 real estate economists and analysts what they see in the future of the housing economy, what do you think they’d say?” (You know, other than the info that’s already been revealed above in the spoiler headline.) Find out at Inman, which takes a look Urban Land Institute’s new “semi-annual Real Estate Consensus Forecast.” http://bit.ly/2oUCFlk

10% off tickets to Arizona’s Best Kentucky Derby party, May 6 at Turf Paradise  – http://bit.ly/2pgKFQP



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


Counties to state: Pay us back now. “County officials… are… warning that they could be on the brink of financial disaster if the state doesn’t throw them a bone… Continued financial pressure… means counties are watching roads crumble, reducing law-enforcement patrols, patching together decades-old equipment, closing facilities and [uh-oh!] considering… raising taxes.” And if that doesn’t paint a dire enough picture… “At least two of Arizona’s smallest counties now are unable to make payroll several times a year.” AZCentral http://bit.ly/2pjDxDa

Coyotes arena bill appears to be dead in Legislature. But much like the Road Runner cartoon and the plight of Wile E. Coyote who, after having an ACME anvil dropped on his head, appears finished but then pops right back up to continue his pursuit, so it is with SB1149. As the Glendale Star reports: “While the bill [‘to assist the… Coyotes with a new arena’] is listed as adjourned, a spokesperson for District 20 Rep. Anthony Kern said that it still could come to a vote…”  http://bit.ly/2pjAYku

THE BIGGS’ PICTURE – Sinema, Biggs discuss health care changes. U.S. Rep. Andy Biggs: “Something is going to get done, and I would imagine that it’s going to happen fairly quickly after this break…” U.S. Rep. Kyrsten Sinema: “If (Ryan) wants to get something done, there is a group of Blue Dogs that are willing to do this.” More from both of these reps, in Arizona Capitol Times. http://bit.ly/2o8wrkF

LENDING AN EAR – Americans have lodged thousands of mortgage complaints with the agency Republicans want to gut. “[A Trulia analysis] shows that “complaints about mortgages of any kind rose 10% from 2012, the first full year the [Republican-targeted Consumer Financial Protection Bureau] started taking complaints, through 2016.” However, as this MarketWatch report points out: “CFPB data tracks complaints, not problems.” http://bit.ly/2oUINtY

As the clock ticks, Senate stalls on state-run retirement plans. Here is the FIRST sentence from this Governing report: “Late last month, Congress voted to overturn an Obama-era rule that cleared the way for cities to create retirement programs for private-sector workers that didn’t have one through their employer.” Here is the LAST sentence: “The resolutions are subject to the Congressional Review Act, so if the Senate does not follow the House and vote to reverse the rule by mid-May, it will stand.” For all that’s IN-BETWEEN, tap it: http://bit.ly/2oqXl3p

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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