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$30M, 280-acre car country club development moves forward. (Disclosure: Rose Law group represents APEX Motor Sports.) “The Maricopa City Council has approved plans for… APEX Motor Club in Pinal County.” Maricopa Mayor Christian Price: “We are excited about APEX’s decision to build their motorsports club in Maricopa…. It will, without a doubt, continue to add to Maricopa’s economic vitality and growth.” More on the Motor Club at PBJ, including the number of jobs it’s expected to bring. http://bit.ly/2qG2sig
Two new subdivisions — 284 new homes coming to Marana and Oro Valley. Yesterday we told you about the Marana Town Council decision to approve the “rezoning of the… Lazy K Bar Ranch property,” which paves the way for a 178-home development. So what about the other 106 new homes? Real Estate Daily News reports that “Lennar Homes purchased 58.6-acres with 106-platted lots at Overton Reserve [at Overton and La Canada Drive in Oro Valley].” View a conceptual plan for the Lennar development and get further details on both of these future projects here–> http://bit.ly/2qBXpBp
Expect economic growth to come in at 2.2% and new-home sales to reach 620,000. Those are just two of several predictions presented by NAR chief economist Lawrence Yun this week in his “midyear forecast” at the REALTORS® Legislative Meetings & Trade Expo. Others looking into economic crystal balls included “Jonathan Spader, senior research associate at the Joint Center for Housing Studies at Harvard University, and Mark Calabria, chief economist and assistant to Vice President Mike Pence.” Check out their forecasts in Builder’s coverage of the event. http://bit.ly/2pTxsOB
Developer buys Mesa’s Fiesta Mall, plans makeover into health, education campus. “New owners Dimension Financial & Realty Investments… paid [$6.72 million] cash for the 380,000-square-foot mall [and] intend to spend as much as $30 million on the makeover…. Areas will be designed for medical learning centers and colleges… Housing, eating and entertainment venues also are planned.” Further details, including what the “sale entails” — or perhaps more significantly, does not entail — at AZCentral. http://bit.ly/2rA3QmH
Kyrene may sell or lease district headquarters site. “Kyrene Schools’ governing board is studying the possible sale or other profitable use of… the 19-acre district headquarters site at Kyrene and Warner roads in Tempe and an empty 28-acre parcel on the west side of I-10 in the vicinity of 50th Street and Chandler Boulevard in Ahwatukee.” Learn about the various options and issues surrounding these properties, and also get a bird’s-eye view of the Chandler Blvd. parcel, in Ahwatukee Foothills News. http://bit.ly/2r0GUQ9
Does White House uncertainty hurt the housing market? Kind of a silly question, actually. Like someone’s going to answer: “No, no, chaos and upheaval — with a ‘global sell-off’… the Dow Jones plunging… the ‘prospects of tax cuts, infrastructure spending, banking reforms’ impaired.. talk of impeachment — this sort of stuff is ALWAYS fantastic!” All kidding aside, though, this Inman piece asks, “How about real estate [specifically]? Are there any lessons from history? See what “industry professionals and economists” have to say –> http://bit.ly/2q4so5j
Dealmaker BONUS: Artificial intelligence will soon be used to create residential interiors, says design app maker. “TV cannot be placed in front of a window… bed should stand sideways to a window… couch should be placed in front of a TV or a fireplace.” The AI system (from Planner 5D) is learning all this and more “in order to help users create home design with a click of a button.” Sounds like the app could be pricey. Hopefully, Planner 5D also puts out a more basic version for those of us on tight budgets — perhaps one that could, for example, pick out color for a living-room accent wall that would perfectly match the wood paneling and/or an Elvis velvet painting and/or a poster of Dogs Playing Poker. More at Builder. http://bit.ly/2rAgQb5
Cameron’s $5M + deals of the day – http://bit.ly/2qG40sA
As a supplement to the Dealmaker, we thought you might enjoy these articles!
How do I protect myself from cyber crime and being held up for ransom? Lauren Reynolds and Daniel Gauthier, who are focused on cybersecurity and privacy issues, present several defensive measures that everyone should be using to prepare against a ransomware attack. They also discuss what to do in the event that an attack does occur and your “device becomes infected,” — whether you should you pay the ransom to unlock your files or not. As they state in their article: “The worst thing you can do is wait.” So don’t delay! Tap to Rose Law Group Reporter now! http://bit.ly/2rzUKFt
Senate Leader Mitch McConnell skeptical of Dodd-Frank reform. Part of Sen. McConnell’s pessimism stems from the fact that, for “significant Dodd-Frank reform,” Republicans would “need the support of at least some Democrats on the Banking Committee and in the full Senate.” But, as Consumer Finance Monitor reports, that’s “not the only thing standing in the way of meaningful reform.” See what else–> http://bit.ly/2q1u3sR
Experts see a brighter future for malls as department stores exit. Has the mall’s demise been greatly exaggerated? Not necessarily, just as long as “mall owners get creative.” Forbes talks to several industry pros about how “a revitalized multi-use space will be the mall’s salvation,” — whether such salvation comes in the form of indoor parks, health facilities, or places of worship, just to name a few. http://bit.ly/2qC37TU
THE NEXT TIME ‘ROUNDS – Learning lessons: What the Valley and state have done to better prepare for the next downturn. “Arizona went through the ringer during the Great Recession, but seems to have transformed itself. To get a gauge on how much the state has changed, [Phoenix Business Journal] reached out to economist Jim Rounds, president of the Rounds Consulting Group in Tempe, to see how far we have come from and where we are going.” http://bit.ly/2qC0qSe
Arizona judge rejects effort to lower fees for medical marijuana users. “Maricopa County Superior Court Judge Jo Lynn Gentry said she does not dispute that [DHS] is collecting more from medical marijuana users than it needs to administer the program.” But Gentry also said that DHS doing so is not prohibited in the Arizona Medical Marijuana Act.” Capitol Media Howard Fischer reports these fees “can range up to $150 a year for patients and $200 for caregivers.” More on the matter in Arizona Daily Star. http://bit.ly/2rzTNxK
FARMING IT OUT – How will robots change the agricultural industry in Arizona? “[W]hether the traditional agricultural sector is ready or not, farmers are implementing automation at an exponential rate…. People have created robots to kill weeds, milk cows, move crates, pick fruits and herd cattle. Right now, a growing number of farmers and ranchers use these robots to do the kind of work most humans don’t want — or can’t — do.” Cronkite News explores the pros and cons robo-farming. http://bit.ly/2rzLbr2
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