LMC opens mixed-use community in AZ. “Nexa, located in North Tempe [1221 E. Apache], consists of 99 units and 4,300 square feet of ground-floor retail. The community is part of a larger redevelopment plan for the Apache Corridor.” Get unit and amenity info, and check out the buzz of activity, poolside, in the rendering at Multi-Housing News. http://bit.ly/2umZB1y
10,000 apartments recently opened or will soon in Phoenix area. Study says it’s not enough. “Anyone who has been around downtown Phoenix, Scottsdale or Tempe, where thousands of apartments have recently gone up or are under construction, will probably find [that headline] hard to believe,” notes AZCentral’s Catherine Reagor. “But national and local apartment groups say that many new rentals need to go up [150,000 by 2030!] to keep up with likely demand from aging Baby Boomer renters, immigrants and Millennials who are delaying a home purchase.” http://bit.ly/2vlJJcT
Scottsdale’s McCormick Ranch sees an era of revitalization. “The improvements are enhancing the Ranch not only in a renewed way, but updated and in some cases more efficient, increasing the value and legacy of the community.” Property Owners’ Association exec Jaime Uhrich: “In some cases projects are tear downs and complete rebuilds. I encourage you to drive through the Ranch and you will be amazed to see all the changes!” Scottsdale Independent. Tap through for more on the Ranch redo along with a “Before & After” pic showing some of the changes. http://bit.ly/2v07sjf
Catch it if you can — Phoenix homes inventory tightens. “Phoenix isn’t the fastest moving market in the nation. However, the amount of inventory moving off the market in 60 days is significant. Only 39.5 percent of Phoenix’s home inventory stays on the market for more than two months.” The Arizona Report. http://bit.ly/2vlqNep
The Paradise Valley Ritz-Carlton continues journey into reality. “Five Star Development has announced its proposed construction timeline for the resort and commercial development behemoth. Meanwhile anchor partner Shea Homes Arizona is seeking zoning amendments for its proposed housing stock while a traffic calming measure along Indian Bend Road… begins to move through the fine-tuning of the Town of Paradise Valley.” Paradise Valley Independent’s Terrance Thornton guides us through it all. http://bit.ly/2tUcUEg
CLASS III GAMBLE BUILDING TO A PAY OFF – Construction expected to begin on Desert Diamond Casino $400 million expansion. “Nearly a decade after purchasing land so they could build a [Class lll] casino resort on the border of Glendale [at Northern and 91st avenues], the Tohono O’odham Nation officially announced it will begin construction on the long-planned project by the end of the year.” The Glendale Star reports that it will “take upwards of 20 months to complete the first phase.” http://bit.ly/2v0pCBB
Scottsdale aspires to the creation of equitable signage rules. “Since the 1960s the city of Scottsdale has been trying to find an approach that regulates the usage of various signs… while maintaining the aesthetics of the community.” Last week, the city approved an ordinance that “officials say creates more user-friendly signage rules.” But some say the “new rules don’t go far enough in meeting the requirements of [a] 2015 Supreme Court ruling.” Scottsdale Independent. http://bit.ly/2v0kNYX
APEX discusses construction of motor sports club. (Disclosure: Rose Law Group represents Apex Motor Sports.) Apex Managing Partner & Vice President “Matt Williams spoke at a Maricopa Chamber of Commerce breakfast Thursday about construction of the new facility and its impact on Maricopa.” PinalCentral. http://bit.ly/2tREUu3
Buckeye hires new economic development director. “After an extensive search, the City of Buckeye hired David B. Roderique, CEcD, as its new Economic Development Director… Prior to coming to Buckeye, Roderique worked for a real estate and economic consulting firm, as president of the Downtown Phoenix Partnership, and as General Manager of the Economic Vitality Department for the city of Scottsdale.” AzBigMedia. http://bit.ly/2sZ8DhM
Something rare occurred on Wall Street Thursday: Investors cheered for brick-and-mortar retailers. “Thursday was a bright spot for the traditional retail industry, which has suffered with the rise of e-commerce… Target’s shares shot up nearly 5%, and investors appeared to take [the store’s reported ‘improved traffic and sales’] as a sign of good things to come for other stores.” The Wall Street Journalreports that Urban Outfitters, Gap, Kohl’s, Dillard’s, and Sears — all saw shares climb. http://bit.ly/2tTIUbH
Dealmaker BONUS: 7 ways to keep your smart home from being hacked; be an ‘informed consumer,’ says Lauren Reynolds, Rose Law Group litigator focusing on cybersecurity. MarketWatch looks at ways you can “protect your connected TV, refrigerator, baby monitor and lightbulbs.” (Yes, a fridgecan be hacked. But how would you know? If Russians are the perps, do bottles of Stoli start mysteriously showing up?) Lauren Reynolds: “‘Smart’ devices certainly make our lives more convenient, however, they can leave consumers open to less than convenient threats if the proper precautions are not taken. Being an informed consumer can help you to purchase those products designed with security in mind and increase the security provided by manufacturers with ‘smart’ practices in using those devices.” http://bit.ly/2uit1yd
LEGAL FLARE-UP – Lawsuit says APS’ solar-battery research troubled. “The state’s largest electric company last year began Solar Innovation Studies on technology that pairs solar panels with household batteries and other equipment… [On Tuesday, a] contractor working with Arizona Public Service Co… filed a suit in Arizona District Court… claiming APS owes the company $500,000 and asserting that the project is facing a host of problems.” AZCentral. http://bit.ly/2tTUYcR
Campaign to overturn citizen initiative restriction dead. “Foes of new restrictions on the ability of people to propose their own laws have suspended their effort to used paid circulators to gather signatures to quash the law… [A]ll the financial resources of Voters of Arizona are being funneled into convincing a judge that one of the changes violates the state constitution.” By Howard Fischer in Arizona Capitol Times. http://bit.ly/2tRPAJ0
Two Republican lawmakers, Phoenix chamber oppose health care bill.“Arizona Republican legislators Heather Carter and Michelle Udall, leaders from the Greater Phoenix Chamber of Commerce and doctors oppose the Senate bill… saying it would slash state Medicaid coverage for seniors, children and veterans.” Cronkite News. http://bit.ly/2to8nIs
Andrew Barroway reaffirms commitment to keeping Coyotes in Arizona.“[C]larity arrived Thursday at Gila River Arena, with Barroway speaking publicly for the first time since he became the sole owner when the team’s new regime was introduced, and the message he delivered highlighted his dedication to keeping the Coyotes in the Valley amid the ongoing pursuit of a permanent arena.” AZCentral. http://bit.ly/2uijnLR
Newsmaker BONUS: [EDITORIAL] Our View: Gila River agreement shows Arizona is ready to deal on water. The Arizona Republic editorial board: “The city of Phoenix, the Gila River Indian Community, the state of Arizona, the federal government and the Walton Family Foundation have joined together to forge a plan that will expand the supplies of the Colorado River… [It’s an] agreement [that] leaves even more water in Lake Mead to prevent drastic cuts… All the major players in this agreement are demonstrating model conduct for difficult days ahead as the Western states work their way through a crisis that stretches into the foreseeable future.” http://bit.ly/2tnNuwR
