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The Dealmaker: 6/16/2017

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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




Neighbors pushing back on potential rehab center next door; Rose Law Group litigator Evan Bolick says there is a ‘deed restriction.’ (Disclosure: Rose Law Group represents the neighbors on Sunnyvale Road fighting to preserve the residential character of their neighborhood.) When it comes to a rehab in Paradise Valley, residents are belting out more “no, no, no’s” than Amy Winehouse. Sunnyvale Road resident Gary Emery talks with Arizona’s Family (3TV/CBS 5) about his concerns over the 10 person Blue Sands Recovery Center that could be moving in next door, while Evan Bolick identifies another concern: There is a deed restriction that prohibits commercial development and will ultimately prohibit this facility from moving forward. WATCH it here –> http://bit.ly/2taTdHE

May housing market set new records for low supply, speed and competition; see where Phoenix stacks up. As far as data goes, Redfin has done all the heavy lifting on this one. There’s plenty here to pore over — not only national numbers, but also “market-by-market breakdowns for prices, inventory, new listings and sales for markets with populations of 1.5 million or more.” (There’s also a link to the Redfin Data Center for “downloadable data on all of the markets Redfin tracks.”) http://bit.ly/2rzcPbo

DEVELOPMENTPHOBIA – Phoenix seeks buyer for historic house in Roosevelt Row amid fears. “For the third time in 15 years, Phoenix will seek a buyer for the historic, city-owned Knipe House [1025 N. Second Street] and some vacant land… surrounding it… Longtime Roosevelt Row entrepreneurs want to see the house and acre-and-a-half of land developed, but some are fearful the proposals could bring more gentrification and hurt local artists.” Read about it and/or WOCHIT at AZCentral. http://bit.ly/2syluKc 

SKYSONG WEST? – Deal looks to bring office development to West Valley freeway. “The city of Peoria and development firm Plaza Cos. have inked a deal aimed at bringing an office/business park to a 14-acre property at the Loop 101 freeway and Peoria Avenue… Plaza is headed by well-known developer Sharon Harper. Plaza and Harper are the master developers at the ASU SkySong development in Scottsdale.” PBJ. http://bit.ly/2sjzHsf

Some disapprove of San Tan Valley rezoning approved by county. “Several San Tan Valley rezoning requests earned approval from the Pinal County Board of Supervisors last week, changing some land designations from commercial to residential. And some aren’t happy with the outcome.” Why? Because it could, ultimately, “encourage San Tan residents to leave the area to spend money in nearby towns and cities.” But Supervisor Mike Goodman isn’t buying it. PinalCentral. http://bit.ly/2tb5Xhh

KB Homes to open new phase in Tucson. “[A] new collection of one- and two-story residences [on ’77 home sites’] is now available at the builder’s next phase of its Mountain Vail Reserves community.” What about design details and pricing? When’s the “Grand Opening”? Tap to Builder. http://bit.ly/2tvDS3B

New student housing project proposes 1,200 beds. “The plan for “Mill Town” at Milton and University in Flagstaff “includes 48,400 square feet of commercial use, as well as 1,221 beds of student housing. The developer has requested the maximum height of the building be 95 feet.” More on  Mill Town — the “third phase” of a Vintage Partners project — at Arizona Daily Sunhttp://bit.ly/2tvTR1C

Builder confidence slips a bit. NAHB Chief Economist Robert Dietz on the two-point dip in June’s HMI: “As the housing market strengthens and more buyers enter the market, builders continue to express their frustration over an ongoing shortage of skilled labor and buildable lots that is impeding stronger growth in the single-family sector.” For a breakdown of all three HMI components along with regional scores, click to Builder. http://bit.ly/2roxhaJ

Cameron’s $5M + deals of the day – http://bit.ly/2rzQCK3


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

LET’S DO LAUNCH – APEX makes lunch presentation on racetrack plans. (Disclosure: Rose Law Group represents Apex Motor Sports.) “Members of the APEX Motor Club team gave a public presentation at Native Grill [in Maricopa] on Thursday outlining their proposed private racetrack to a group of residents and local dignitaries.” For further coverage of the gathering along with the latest details on “the struggles [APEX has] faced in bringing this project to fruition,” rumble through to inMaricopa. http://bit.ly/2s9HzOM 

Pinal jobless rate jumps up. “In Pinal County, the May rate was 5.2 percent, up from 4.7 percent the previous month, which was the lowest recorded for the county.” But was the increase unexpected? Capitol Media Services’ Howard Fischer sorts it out and gives us the state’s overall employment picture in PinalCentralhttp://bit.ly/2taS178

Arizona opioid maker target of state AG probe. “Documents filed by Insys Therapeutics… disclose that the Chandler-based company has received a ‘civil investigative demand’ from officials [regarding] its sales and marketing practices related to Subsys, a form of the opiate fentanyl.” Howard Fischer reports that the “central question in all existing inquiries on opioid abuse is whether the drug is being overprescribed — and whether any of the blame rests with the manufacturers.” Arizona Capitol Times. http://bit.ly/2sxYo6u

Arizona lawmaker to take another shot at silencing college voters. You go to NAU but you’re from Hoonah, Alaska (an actual town). If you vote in Flag, are you “unfairly influenc[ing] local elections”? Rep. Bob Thorpe [R-Flagstaff] thinks so and is floating a proposal to stop the practice. But is this one likely to die just like the one “Thorpe introduced earlier this year”? Find out in this report from Howard “The News Machine” Fischer at Arizona Capitol Times. http://bit.ly/2s9E3E1

Will power plant’s closure improve prospects of Grand Canyon tram? “[A]s it looks less and less likely that the coal-fired Navajo Generating Station near Page will continue operating past 2019… opponents [of the ‘controversial Grand Canyon Escalade’ tram] must now confront arguments that position [it] as a much-needed replacement for job and revenue loss related to the [power plant’s] closure.” Arizona Daily Sun. http://bit.ly/2taXc7a

Meritage Homes Purchases platted lots at Sunset Farms 99th Avenue and Broadway, Phoenix Arizona Read more

CBRE Report Highlights Retailers Collectively Opening More Than 1,700 Stores Read more

AV Homes Acquires West Valley Property for Sunleya Development Read more

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  • Published: 9 months ago on June 16, 2017
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  • Last Modified: June 16, 2017 @ 3:27 pm
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