Bankruptcy case could bring big changes to Phoenix’s Desert Ridge area. “The Chapter 11 bankruptcy case involv[es] a real estate entity called Epicenter Partners… [and] deals with Epicenter’s continued control and land lease of 96.5 acres of State Trust Land… Resolving it could go a long way toward determining who controls future development in the busy Desert Ridge area… at Tatum Boulevard and Loop 101.” PBJ’s Mike Sunnucks attempts to sort out the “complicated and contentious” case. http://bit.ly/2sZAwJk
DRUNKENNESS NEXT TO GODLINESS? – Glendale has new downtown revitalization tool. “[Creation of the] Centerline Entertainment District… along Glendale Avenue from 61st to 43rd avenues… should help the city jump-start the economy there [and] means businesses such as bars and liquor stores could set up shop next to a church and school, which is currently prohibited under state law.” YourWestValley. http://bit.ly/2sKdpQV
West-MEC campus in Surprise to open Aug. 2. “Construction is entering the final stages for Phase 1 — of at least four phases — at the 19.3-acre [$45-$50 million] campus… on the northwest side of Grand… between Dysart… just south of Bell Grande Drive… The campus is intended to focus on Automotive, Computer Technology, Construction, Health and Beauty, and Medical industries.” YourWestValley. http://bit.ly/2rKzjlL
The housing cupboard is bare. “Across the country, home shoppers will have 9% fewer homes to choose from than a year ago, which is the greatest drop in inventory since August 2013…” How many fewer houses are on the shelf in Phoenix and other metros? Tap through to Builder for these and other Mother Hubbard-esque findings from the May Zillow Real Estate Market Reports. http://bit.ly/2tCo6EV
Top-heavy U.S. housing market crowding out the little guys. However, there are some exceptions. For instance, the market isn’t coming close to squeezing out well-off little guys like Tom Cruise and Michael Bloomberg, which, btw, happens to be where this report originates… Bloomberg: “With fewer options on the lower end, first-time buyers have been slow to enter the market even with mortgage rates that have held near record lows.” And not to drive the whole “little guy” theme into the ground, but this report does, in fact, mention that the “key to evening out market participants is… growth.” (NOTE: We took a little comedic liberty with that last quote.) http://bit.ly/2tCFdXr
Home prices zoom to new high. “Housing shortages propelled the median sales price to a new high in May… But that did not appear to spook home buyers as demand remained high.” Get the numbers and reaction from NAR’s Lawrence Yun at REALTORMag. http://bit.ly/2sz0liK
Reason to refinance: 4 million homeowners are leaving $1 billion on the table. “At today’s rates, the average borrower could save $260 a month… Nearly 700,000… could save $400 or more per month… Millions, however, are not biting, either out of ignorance or because refinancing is a hassle.” CNBC. http://bit.ly/2tCp9ER
Americans want to hear more on affordability. “The majority of Americans and Canadians say their nations are not doing enough to address and solve affordable housing needs, according to the Habitat for Humanity’s Affordable Housing Survey.” REALTORMag has survey findings and looks into the issue of affordability — a problem that the homebuilding organization’s CEO refers to as “an invisible crisis.” http://bit.ly/2s4kedP
Rental demand to escalate by the millions, research shows. “A new multifamily report [from the National Apartment Association and the National Multifamily Housing Council] estimates that by 2030, some 4 million new apartments alone will be needed to keep pace with demand… The report finds that demand, though widespread, will be most felt in sought-after markets…” Arizona perhaps? Find out at RISMedia. http://bit.ly/2tXBmUe
New pedestrian tunnel takes shape at Phoenix Raceway. (Disclosure: Rose Law Group represents Phoenix International Raceway.) AZRE: “The tunnel (located near current Turn 2), will take fans from the DC Solar Power Pavilion directly under the newly-constructed Allison Grandstand extension to the Fan Zone area on the infield… one of the centerpieces of the $178 million modernization project.” http://bit.ly/2t3QAdl
Cameron’s $5M + deals of the day – http://bit.ly/2tX6SBx
As a supplement to the Dealmaker, we thought you might enjoy these articles!
The Fast Act solution to U.S. infrastructure needs. “The Fixing America’s Surface Transportation (FAST) Act… authorizes $305 billion… for projects involving highway, highway and motor vehicle safety, public transportation, motor carrier safety, bridges, light rail, bicycle lanes, research, and many more.” In his detailed look at the FAST Act, Rose Law Group law clerk Omar Abdallah stresses that the Act “provides for an opportunity [for States and local governments] to reach out for and acquire a reliable source of federal funds… to build what needs building and fix what needs fixing.” In Rose Law Group Reporter. http://bit.ly/2rZL3oH
Arizona reaction to Senate health bill ranges from lukewarm to hostile. “The 142-page ‘Better Care Reconciliation Act of 2017’ would cut deeply into Medicaid funding and do away with the current mandate for coverage, but would also preserve some subsidies to help taxpayers afford health insurance.” Who called it “mean-spirited”? Who thinks the bill doesn’t “go far enough”? Who didn’t say much about it at all? Find out in Cronkite News. http://bit.ly/2s4eiSa
Practical tips for privacy and security. Lauren Reynolds and Daniel Gauthier, who are focused on cybersecurity and privacy issues, present five “simple steps you can take in the future to better maintain your privacy and information security.” As Lauren and Dan point out at the get-go, these steps “can be accomplished by anyone, regardless of technological competence” and “[b]est of all, they are free.” Or at the very most, they’ll cost you one click — to Rose Law Group Reporter. http://bit.ly/2tCF1aJ
Arizona Court of Appeals ruling possible setback for gay rights. “[The] state Court of Appeals ruled Thursday that the same-sex spouse of a woman who gave birth to a child is not entitled to a presumption she is a parent… [T]he court said the law on paternity ‘clearly and unambiguously provides that it applies solely to men.’” Capitol Media Services’ Howard Fischer reports in Arizona Capitol Times that “if what was decided… is ultimately upheld, that has implications beyond child custody cases in gay marriage.” Next stop: The Arizona Supreme Court. http://bit.ly/2tXgfRR
Regents, lawmakers, look to mend fences after chairman’s resignation. “Regents and lawmakers alike expect [that] the June 18 resignation of the Arizona Board of Regents’ chairman [Greg Patterson] can heal any lingering wounds between them… [Patterson’s] resignation was effective immediately and came two days after a news report chronicled disparaging remarks Patterson made to [Rep. Mark] Finchem [R-Oro Valley] at [a February meeting].” Arizona Capitol Times. http://bit.ly/2tD44u8
Phoenix Sky Harbor International Airport achieves nonstop flights to Frankfurt, Germany. For our German-speaking friends, that would be: Phoenix Sky Harbor International Airport erreicht Nonstop Flüge nach Frankfurt, Deutschland. (Not sure if that’s completely accurate, though. You know how wankelmütig Google Translate can be.) “Phoenix Sky Harbor will soon offer nonstop flights between Phoenix and Frankfurt, Germany. Condor Airlines, part of the Thomas Cook Group, will fly on Mondays and Fridays from next May through September… Sky Harbor and the Frankfurt Airport.” Read the full press release at Rose Law Group Reporter. http://bit.ly/2tCHWjo
Our language is raining cats and dogs. “From where do common phrases, idioms come and what do they mean?” Senior Reporter/Writer Phil Riske gives us the answers — for “nine such phrases [he] encountered in the past week alone.” Check out his piece in Rose Law Group Reporter. We guarantee you’ll get big kick out of it! http://bit.ly/2sKvCxu
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