The Dealmaker: 6/2/2017

A HISTORIC DEAL – Glendale council, chamber OK deal to jump-start historic downtown economy. What’s the deal? “[A] $610,510, five-year contract with the Glendale Chamber of Commerce to revitalize the Historic Downtown District… The Chamber, beginning July 1, will provide professional downtown management services… which is the first step toward strengthening existing businesses in the area and attracting in new jobs and residential opportunities.” Further details in YourWestValley. http://bit.ly/2s28sVF

Town Triangle development pitch continues in Paradise Valley. “[I]s there a purpose for looking at a statement of direction on a private gate on a roadway, when there’s no subdivision plat in place to look at?” That was the question posed by PV Councilman Scott Moore regarding a “request for a special use permit” for a gate when “there hasn’t been any approved plans for the property this gate would be protecting.” The property? “[A] vacant 4.4 acre piece of land [owned by Town Triangle]… being eyed for [a] subdivision coined ‘The Villas at Camelback Country Club.’” More on ‘Gategate’ in Paradise Valley Independent. http://bit.ly/2smEj0r

Panel sees bright future for East Valley sustainability, development. “Sustainability is not just about electric cars, solar panels and recycling. In Mesa, sustainability encompasses a vast range of concerns, extending from education to economic development and public health. City of Mesa Development Services Director Christine Zielonka addressed the subject as part of a four-person expert panel at the SRP 2017 Forum.” East Valley Tribune has coverage of the event. http://bit.ly/2sxNVEU

Single family sector is rare winner in construction spending report. In April, single family hammered out an “0.8 percent month-over-month gain to a rate of $262.14 billion.” Meanwhile, every other hard-hat sector — privately funded, public, multi-family — pretty much took a hit (“water supply” was an exception). Get the figures for all the dips, drops, and declines at Mortgage News Daily. http://bit.ly/2qJ0dK4

Home values edge above pre-downturn peak. “[T]he current national median value, $198,000, [is] 1 percent higher than in 2007. Values have risen 7.3 percent year-over-year,” according to the April Zillow® Real Estate Market Reports. Check out how Zillow Chief Economist Dr. Svenja Gudell “shuts down the assumption” that “the housing market [is] treading into unsustainable territory,” and also access the complete Zillow report, at RISMedia. http://bit.ly/2qKeBWH

Check out where apartment rents are the most expensive (and least expensive). Apartment-rental site Zumper has put out its “National Rent Report” for June 2017, and PBJ  has highlights, including findings for Phoenix-metro that just might leave you wondering: Does Zumper have a beef with Tempe? http://bit.ly/2qPfZCw

How to capitalize on hot Phoenix apartment market. The Arizona Multihousing Association “hosted its second-ever Quarterly Apartment Market Presentation,” where industry players “explored topics ranging from how tenants use the internet to search for apartments to how Arizona compares with other national markets to the conditions fueling the hot Downtown Phoenix apartment market.” (And even though he wasn’t mentioned directly, there was a roundabout reference to “The Fly,” Jeff Goldblum!) Tap to coverage at AzBigMedia. http://bit.ly/2rNpSpc

The richest city in Arizona. “[F]inance site GoBankingRates [has] released a list of the the wealthiest cities in America, looking at real estate values and the median household income,” and the cash-chat site Moneyish has the nationwide results (“except for South Dakota and Maine, where there wasn’t enough data”). http://bit.ly/2sn1KGV

How much does the Fed’s action to solve the appraisal shortage really help? “[F]ederal agencies put out a release… to help create a temporary fix to the current appraisal shortage that’s impacting loan turn times.” So what could be more fitting than to have a “veteran appraiser” appraise “what the release means for the industry.” See what Matt Simmons (from the firm Maxwell, Hendry & Simmons) has to say about it in HousingWire. http://bit.ly/2qIIUZP

Dealmaker BONUS: How the rich fish. “In their quest for the best fishing, avid anglers are spending $200,000 to $750,000 to create and stock personal streams with computer-controlled conditions… To lure home buyers hooked on fly-fishing, developers are creating luxury ranch resorts that offer blue-ribbon trout streams along with exclusive amenities.” The WSJ goes “[i]nside some luxury fishing retreats in Montana, Wyoming, Colorado and the Ozarks.” http://bit.ly/2qJ6LIw

Coolidge Municipal Airport named Airport of the Year for 2017. The [ADOT] Aeronautics Group presented the award to Coolidge Muni for its “accomplishments in the areas of aviation advocacy and community relations, airport management, special events and recognition as well as innovative activities and programs implemented at the airport.” More about the award and this Coolidge “aviation asset” at Pinal Partnership NEWS. http://bit.ly/2qITvUn

Tucson’s economy lags behind state, experts say. “[But the city] will continue to expand this year and accelerate modestly in 2018, with growth coming at a pace similar to the nation… That was a key message during the University of Arizona Eller College of Management 2017 Breakfast with the Economists event.” Specific topics included “local job growth, new home construction, population growth, trade and export activity, interest rates and government spending.” AzBigMedia has coverage. http://bit.ly/2sydzJK

EMPLOYMENT: FINE AND ZANDI! – Big growth in construction and professional and business services. “Job creation surged in May thanks to a jump in construction positions [+ 37,000] and a boom in professional and business services [+ 88,000], according to a report Thursday from ADP and Moody’s Analytics.” Mark Zandi, Moody’s chief economist: “This labor market is rip-roaring and getting really tight.” Get a breakdown of the report and more from Zandi at CNBC. http://bit.ly/2qIWSKY

McCain investigation confirms Navajo housing agency ‘grossly misusing taxpayer funds.’ “[Sen. John McCain] said the probe by his office ‘confirms that the Navajo Housing Authority remains a broken public housing agency…’ The investigation… echoes and amplifies on an investigative series published by The Arizona Republic beginning in December.” AZCentral. http://bit.ly/2smFtcl

‘Dreamers’’ lawyers ask U.S. Supreme Court to let ruling stand on Arizona case. “[A]ttorneys… are asking the justices to leave undisturbed an appellate court ruling which concluded the state acted illegally in refusing to issue licenses to those accepted into the [DACA] program.” Additionally, according to Howard Fischer’s report, the “lawyers… also have a political argument in their bid to convince the Supreme Court not to review the issue…” Intrigued? Find out what the “argument” is at Arizona Capitol Times. http://bit.ly/2qOGTdy

Capitol Times reporter wins Sledgehammer Award for efforts to ‘expose truth.’ “Arizona Capitol Times House reporter Hank Stephenson has won the Arizona Press Club’s prestigious 2016 Sledgehammer Award… In a statement, the Arizona Press Club noted Stephenson’s efforts to ‘expose the truth’ on the travels of some of the state’s most powerful politicians, notably former House Speaker David Gowan.” (Hopefully David Gowan sends Hank a few words of congratulations — perhaps scrawled on the back of a “Greetings From Beijing!” postcard?) http://bit.ly/2qPhK2A

Arizona politicians split on Trump exit from global agreement. “President Donald Trump said Thursday the United States will withdraw from a global agreement on emissions that ’handicaps’ the economy.” The president’s pullout from the climate-change pact is already having an immediate impact: Some on the left are completely melting down, while a few on the right have warmed up to the move. Check it out in Cronkite News. http://bit.ly/2s2avZR