The Dealmaker: 4/7/2017

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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.






Different kind of rental community debuts in Surprise. “The community across the street from the… Civic Center will inaugurate the… concept of upscale ‘horizontal rental communities.’” Community Development Director Eric Fitzer: “[T]his project is the first multi-family single-level non-age-restricted offering in the market.” Further details in YourWestValley, including developer Todd Wood’s plan to give one-year free rent to a “deserving” military veteran

Gilbert, Chandler ZIP codes have priciest homes in East Valley. “In all,12 East Valley ZIP codes and another two in Ahwatukee were among the top 50… priciest… in the state” according an analysis by Propertyshark. Check out the list and see how Arizona ZIPs compare to others across the nation, in East Valley Tribune.

Strategizing economic development in Maricopa. (Disclosure: Rose Law Group represents the developer of Apex Motorsports Club.) From the Edison Road extension and the development at Copper Sky to APEX Motor Club and even Denny’s, “economic development in Maricopa is showing varying signs of progress.” InMaricopa looks at what the city has done — and is doing — to create a “narrative” that will facilitate growth in “the economic base of the community.” KEY QUOTE: “Mayor Christian Price has called it a game of enticement.”

Athletic facility pursuit alerts northern Scottsdale community. (Disclosure: Rose Law Group represents Great Hearts Academy in working with the City of Scottsdale to help develop a public park.) Scottsdale Independent chronicles the ‘Twist’ and turns in Great Hearts’ pursuit to fund the development of the park [which would include ‘athletic amenities for the school and the public’] on “an open field of undeveloped land” at 91st Street and Trailside.

Proposed Pinal road tax could go to SR 347, AJ-to-Coolidge parkway. “[A] 36-mile, four-lane parkway connecting Apache Junction with Coolidge, would receive the lion’s share of the tax money… Other projects that would receive funding include adding lanes and miles to State Route 347 on the north side of Maricopa.” Pinal Central has further details along with a map of these and the other “ideas” that Pinal Regional Transportation Authority has in its infrastructure pipeline “should a 0.5 cent sales tax pass this fall.” Tap to it —>

Q&A: Paradise Valley Mayor Michael Collins on Five Star Scottsdale entitlements. “On the heels of the Scottsdale zoning approval [‘for a new shopping center coined, ‘The Palmeraie’ that will, in part, encompass 20 acres of land adjacent to the forthcoming Ritz-Carton resort community’], the Town of Paradise Valley Independent reached out to Mayor Michael Collins to get his perspective on the project and recent municipal action.”

Yavapai Downs has potential buyer. The Daily Courier reports that JACOR Partners… has been looking at the property for more than two years and is currently in the early stages of buying it” with “hopes” of “return[ing] horse racing to region in 2018 if sale goes through.” But will JACOR close on the deal? Partner Tom Auther: “We’re under contract. We don’t necessarily know if we’ll buy it or not.” So place your bets!

Dealmaker BONUS: A Scottsdale company has submitted a bid to help create a U.S.-Mexico border wall that is immune to both tampering and attacks. “DarkPulse Technologies Founder Dennis O’Leary said his company would install fiber sensors in the wall that would instantly detect someone trying to get around the wall [whether it be by climbing over or tunneling under].” KTAR has the rendering and more about this “ballistic concrete” wall.

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!

House Rules chairman refuses to hear texting ban on teenage drivers. “Rep. Phil Lovas… is refusing to give a hearing to a Senate-passed bill that would make the use of hand-held communication devices illegal for teens during the first six months they have a license.” The concern? “Once Arizona enacts its first-ever restrictions, no matter how minimal, it potentially becomes easier to expand the law.” Or as Lovas puts it: “The concern is this is the camel’s nose under the tent…” (As opposed to the concern being a MINI Cooper’s grill into a telephone pole?) Capitol Media Services’ Howard Fischer has the report in Arizona Capitol Times.

Lucid startup seeks funding for $700M factory in Casa Grande. “The company has already raised $131 million to date… The manufacturing facility will have three phases, the first of which is expected to cost $240 million…” Lucid Chief Technology Officer Peter Rawlinson: “Only after all three stages are completed (expected around 2022…) will the total investment reach $700 million.” Phoenix Business Journal.

Maricopa County boomed in 2016, but Pinal benefited from the echo. “Maricopa County added more people last year than any other county in the nation, but [its]… 2 percent growth rate trailed Pinal County, which [had] the fastest growth rate in the state.” County spokesman Joe Pyritz: “We have a lot of housing that is on the more inexpensive side. With that, people will work in Maricopa County and live in Pinal…” However, as Cronkite News notes, “[n]ot every county has been so lucky.”

Court rules campus medical marijuana not a crime; ‘A victory,’ says Ryan Hurley, Rose Law Group partner and director of Medical Marijuana Dept. “A 2012 Arizona law that erased legal protections for medical-marijuana holders on college campuses has been found unconstitutional by the state Court of Appeals.” Ryan Hurley: “When it comes to marijuana It seems that the legislature and the prosecutors will never learn the lesson that they work for the voters. Thankfully our judicial branch is here to consistently remind them. This is a victory for the power of AZ citizens and their Constitutional right to the initiative process.”  But does the 3-0 decision mean that people will be free to consume cannabis on college campuses? Find out in this Phoenix New Times report.

Chamber’s triple whammy staggers progressives’ defense of citizen initiatives; Rose Law Group Partner Ryan Hurley weighs in. “It used to be a foregone conclusion that a coalition of progressive groups would challenge an attack this year on laws restricting Arizonans’ ability to pass laws at the ballot box. The coalition’s unity is now in jeopardy, though, as it tries to adapt to the Arizona Chamber of Commerce and Industry’s most recent strategy: a multi-pronged attack on the ability to propose and pass laws through the voters and bypass the Legislature.” Arizona Capitol Times.

Water cooperation across U.S.-Mexico border essential, complex. “Officials from Sonora and Arizona say binational water cooperation is essential to their survival and growth. Both also acknowledge the relationship related to water and the issues involved.” Cronkite News looks at some of the things that officials from both countries are doing to promote this cooperation. (For its part, Mexico is working to “create a first of its kind solar water treatment plant in Sonora.” Adios, Montezuma’s Revenge!)

Luxury Apartments Close in Off Market Transaction for $25M Read more

Over 600 People Attend Grand Opening at Iconic New Rosewood Grove Read more

CableOne Gifts $100,000 for Hance Park Amphitheater Read more

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, data breach/privacy law, 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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Cameron’s $5M + deals of the day

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