The Dealmaker: 7/11/2017

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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





Did the City of Phoenix really save three Roosevelt Row buildings from demolition? Sure, that’s what the city “announced in a press release” last week. And it’s also something we mentioned in yesterday’s Dealmaker. However, as Phoenix New Times reports, “that’s not exactly the case. The buildings the city is taking credit for saving — two bungalows and what’s known as the Flowers building — aren’t under imminent threat… The developer was already planning to preserve both buildings.” Hmmm. –>

Ahwatukee will see a boom in nearby places to have fun. “[D]evelopers are increasingly opting to invest in entertainment destinations… and no market better exemplifies this trend than the East Valley. Several new entertainment projects and plans have popped up in recent months, including an Alamo Drafthouse-anchored complex in Tempe, a bowling concept in Gilbert, and a massive entertainment district near Ahwatukee in the Gila River Indian Community.” Ahwatukee Foothills News.

Check out the latest with Shea Homes luxury Paradise Valley development next to new Ritz-Carlton. “Shea is building 66 luxury, single-family homes at the Ritz development… near Indian Bend and Scottsdale roads… The project is in the pre-sale mode and Shea is going to the Town of Paradise Valley asking for a few permit changes.” PBJ.

Superstition Vistas: An East Valley vision on hold looks for new life.(Disclosure: Rose Law Group represented the former developer of Lost Dutchman Heights.) “A decade or so ago, you could hardly pick up a newspaper… without seeing a story about a place called Superstition Vistas. The stories fairly oozed with hyperbole about prospects for developing 275 square miles of state-owned land stretching from Apache Junction to the northern border of Florence… But history, in the form of the Great Recession, hit the pause button.” East Valley Tribune brings us up to speed on what’s happened since and what the future holds for this “developer’s dream.”

Central Arizona College, Sundt Construction start new partnership. “The partnership… means creating [an] academic apprenticeship program… which will cater to workforce needs including heavy equipment operation, structural welding, industrial construction and others.” PinalCentral reports that “some estimates indicate a shortfall of more than 2 million skilled craft professionals — and a shortage of more than 290,000 welders — by the year 2020.” So, great timing! More on the partnership here:

Construction on Tucson-area Topgolf facility is in full swing. “Construction continues on the Topgolf facility at Costco Place, behind Home Depot in Marana. This Topgolf will create 325 total full- and part-time jobs, with a planned opening later this year.” Further Topgolf details and  a shot of some of the Topgolf construction progress at Arizona Daily Star. (As an added incentive for you to tap through, we promise that for any future articles on this topic, we will try not to mention Topgolf so many times.)

Schultz Pass housing parcel dropped by Flagstaff council. “A three-acre parcel with grand views of the Peaks at the intersection of Schultz Pass and Fort Valley roads will be removed from a request for proposals to create affordable housing, due to a last minute tie-breaking change of position from Mayor Coral Evans.” Arizona Daily Sun.

Pollack: Economic expansion will continue into 2018. And the Monday Morning Quarterback says that the “most significant story of the week relative to the economy was the recent release of employment data.” Get  MMQ’s employment overview along with data for these Snapshots… U.S.: Manufacturing – New Orders & Inventories, Auto Sales, Construction. AZ: The Cromford Report – Active Listings/Resales/Home Prices, Foreclosures (w/chart!).

Ranking Arizona: Top 10 resorts (224 rooms or fewer). AzBigMedia has the “Top 10 hotels and resorts in Arizona (224 rooms or fewer), based on public voting for Ranking Arizona.” And, in case you’d like to “make your vote count in the 2018 edition of Ranking Arizona,” there’s a link for that as well.

Dealmaker BONUS: [OPINION] Longtime East Valley leader hails local-government group’s achievements. “Mesa resident Roc Arnett chairs the Citizens Transportation Oversight Committee.” In his piece for East Valley Tribune,the former president/CEO of the East Valley Partnership shares thoughts on his working relationship with the Maricopa Association of Governments, praising it for the “monumental work it accomplishes quietly and mostly unnoticed by the general public [in] planning and developing our Valleywide freeways and transit system.”

Cameron’s $5M + deals of the day –

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

Federal judge upholds law to keep Libertarians off ballot. “Judge David Campbell acknowledged… the 2015 law sharply increases the number of signatures that Libertarian candidates need to qualify for ballot status… But Campbell said the new hurdle is not ‘unconstitutionally burdensome.’” Libertarian Party Chairman Michael Kielsky: “The Republicans set out to get the Libertarians off the ballot and [they] succeeded… [N]ow, Judge Campbell has said, ‘That’s OK.’” And, as Capitol Media Services’ Howard Fischer reports, “Kielsky is not just spouting party rhetoric.” Arizona Capitol Times.  

Trump voter commission tells states not to send data — yet. “In a court filing Monday, [Kansas Secretary of State Kris] Kobach said Trump’s voting commission has told states to hold off on sharing the data until after a judge’s ruling in a lawsuit. That presidential commission, which is conducting a national study of voter fraud, faces multiple lawsuits for alleged privacy and transparency violations. Kobach, the commission’s vice chair… asked… for data on every voter, including names, addresses and the last four digits of Social Security numbers.” Governing.

FLAKE’S SUMMER CRUZ — Flake backs Cruz’s more-conservative amendment for Senate health bill. “[Sen. Jeff] Flake, R-Ariz., facing a tough bid for re-election, told Capitol Hill reporters that he backed [Sen. Ted Cruz’s] amendment to allow insurance companies to offer less-expensive health policies as long as at least one of their options meets the requirements of… ‘Obamacare.’” More on Cruz’s “Consumer Freedom Option” and Sen. Flake’s support for it at AZCentral

Intel, while pivoting to artificial intelligence, tries to protect lead. “[T]o deal with the changing competitive landscape, the Silicon Valley giant is presenting its newest data-center strategy at an event in New York, addressing its A.I. plans and its mainstream data-center business. The company has billed [today’s] event as its ‘biggest data-center launch in a decade.’ How successful Intel’s efforts prove to be will be crucial not only for the company but also for the long-term future of the computer chip industry.” The New York Times.

Here’s what fake news is along with some steps you can take to avoid it.“Eric Newton, the innovation chief at ASU’s Walter Cronkite School of Journalism… said fake news is designed to make the reader believe that something that did not happen actually occurred, but there are ways to avoid being taken for a ride.” TEASER: “You’ll never see a fake news purveyor run a correction.” For the other ways to spot/avoid fake news head to KTAR.

Morrison Ranch expanding Read more

Momentous Milestone Reached by Estrella by Newland Communities, 5,000th Home Closes in Master-Planned Community Read more

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

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