AN EARTH-SHAKING DEVELOPMENT – 19-acre, $75M multifamily mixed-use development coming to Gilbert’s Agritopia. “[T]he Johnston family is bringing one more major development to its farmland: Epicenter, a 19.7-acre, four-story mixed-use center on the [N.W.] corner of Higley and Ray roads.” In the “works since 1999,” Agritopia founder Joe Johnston calls the Epicenter project “suburban urbanization” and “a model for densifying Phoenix.” More about Epicenter in this Phoenix Business Journal ‘EXCLUSIVE’ –> http://bit.ly/2uJplWH
Casa Grande council kills rezoning that would allow apartments. “The [controversial] change [for the S.E. corner of Val Vista and Scott] would have been from light industrial to multifamily… But members Matt Herman, Dick Powell and Ralph Valera said there was too much of a chance that an apartment building would have an adverse impact on the exiting and future neighborhoods…” PinalCentral. http://bit.ly/2gLkwpT
Phoenix International Raceway construction on track for November NASCAR races. (Disclosure: Rose Law Group represents Phoenix International Raceway) “Since breaking ground earlier this year about 150 construction workers have set up the steel skeleton of some of the new grandstands, dug a new pedestrian tunnel and will continue to remodel the Bobby Allison Grandstand’s suites.” AZCentral has a slideshow of the construction progress along with the timeline for the “$178 million makeover,” which is “expected to modernize the Avondale sports venue and completely re-imagine fan experiences in the sports racing venue.” http://bit.ly/2gLpDX3
City officials mum on Lucid sale rumors. “City Manager Larry Rains told PinalCentral that the city had no comment on the potential impact on what a sale of Lucid might mean.” And given what Rains does say, it seems like the impact on Lucid coming to Arizona is nil: “‘We have not received anything to indicate that this is anything more than a rumor,’ Rains said.”. http://bit.ly/2gLpMK5
Papago Golf Course to undergo renovations at clubhouse, practice facility. “The clubhouse… is expected to be completed spring of 2018… Additional elements include a private ASU Golf team practice facility, improvements to the public practice facilities and a new convenient entrance to the course off McDowell Road.” And while the renovations are the result of a “public/private partnership between the city of Phoenix, [ASU], and the Arizona Golf Community Foundation,” Paradise Valley Independent gives us this refreshing tidbit: “No Phoenix taxpayer funds will be used for the project.” http://bit.ly/2uJDnI2
The changing face of ‘The Mall’; Scottsdale Fashion Square – ever the exception. “The combined impacts of the Great Recession, urbanization trends, online retail, [and more] have left the malls that still survive in a state of flux… One area mall that never suffered the dramatic downturns of fortune others suffered, aside from universal rises and falls in the overall economy, was Scottsdale Fashion Square.” AZBEX. http://bit.ly/2tfP3h5
Scottsdale Fashion Square neighbors challenge expansion. “Nearly 300 residents have signed and filed with the city of Scottsdale what they believe to be a legal petition opposing proposed development modifications at the Scottsdale Fashion Square… While the group’s wish is to amend the proposed changes, ultimately their objective is to find a mutual compromise that is beneficial to the mall and the surrounding communities.” Scottsdale Independent. http://bit.ly/2tg3RMV
Phoenix area Q2 construction costs. “Rider Levett Bucknall has come out with its Q2 North American Quarterly Construction Cost Report, and the Phoenix area continues to do well… Of the 12 U.S. markets noted in the report, Phoenix consistently ranked at or near the lowest in [Indicative Construction Costs].” For “Comparative Cost Index” figures along with access to the complete RLB report, tap to AZBEX. http://bit.ly/2uJAY07
Foreign buyers pump up U.S. home prices. “In all, foreign buyers [“Canadian and Chinese” in particular] and recent immigrants purchased $153 billion of residential property in the U.S. in the year ended in March, nearly a 50% jump from a year earlier, according to a [new NAR report].” Chief Economist Lawrence Yun: “This is not insignificant activity. They are pushing up the prices.” WSJ. http://bit.ly/2tHvLAZ
U.S. housing starts rose 8.3% in June. “U.S. housing starts rebounded last month, signaling positive momentum for home builders trying to meet solid buyer demand.” As for residential permits, they “increased 7.4% to an annual pace of 1.254 million… That was the largest one-month jump since November 2015.” WSJ. http://bit.ly/2uJhzfL
Dealmaker BONUS: All-star lineup of presenters announced for 10 Hottest Intersections Program. “The ’10 Hottest Intersections in Metro Phoenix’ are BACK! ULI Arizona is celebrating the 10th anniversary of this highly successful program by revisiting the conclusions drawn a decade ago.” Further details, including when, where, and the complete lineup of all-stars, at Rose Law Group Reporter. (Wonder which intersection Jordan Rose will talk about?) http://bit.ly/2tHjr3x
Cameron’s $5M + deals of the day – http://bit.ly/2u8oawZ
Now a professor, journalist looks back on career covering Arizona news for ‘The New York Times.’ “Fernanda Santos is a Southwest Borderlands Initiative professor of practice at Arizona State University’s Walter Cronkite School of Journalism and Mass Communication and the award-winning author of ‘The Fire Line: The Story of the Granite Mountain Hotshots.’” Senior Reporter/Writer Phil Riske caught up with the former New York Times Phoenix Bureau chief earlier this week. Check out the interview in Rose Law Group Reporter. http://bit.ly/2u8TtY
Flake: McCain ‘sounded great,’ as experts debate severity of condition.(BTW, it’s interesting how Flake’s view stands in stark contrast to what President Trump said about McCain the other day, describing him as a “crusty voice.”) “Sen. Jeff Flake said fellow Arizona Sen. John McCain ‘sounded great’ in a phone conversation Monday, just three days after McCain underwent surgery to have a blood clot removed from above his left eye.” Meanwhile, medical experts, including CNN’s Dr. Sanjay Gupta, weigh in on the size and cause of Sen. McCain’s “unusual” blood clot. http://bit.ly/2ubrtVN
AG: Gowan travel spending ‘troublesome,’ not criminal. “Former Arizona House speaker David Gowan will not be charged by the attorney general despite a lengthy investigation that called reimbursements for travel and per-diem payments given to him ‘troublesome.’” Arizona Capitol Times. http://bit.ly/2ub9iiX
Tom Horne testifies in Tucson Unified ethnic-studies trial. “Tom Horne took the witness stand Tuesday” in the U.S. District Court in Tucson, where “[o]ne side sought to prove that Arizona’s former attorney general and schools chief had racist motives against Mexican-Americans in crafting and enforcing a state law banning ethnic studies programs, while the other side painted him as a crusader against racism.” Arizona Daily Star. http://bit.ly/2uzYps3
A COMPLETELY DIFFERENT ‘COURT RICH’ – Goldwater Institute report: City courts levy fines at taxpayer expense. “[The] report… says municipal judges are motivated to levy fines and fees to keep courts operating. The research group examined revenue and expenses for 12 municipal courts and found Tempe, Scottsdale and Paradise Valley levied fines in 2016 that far outstripped expenses.” As a result, both Goldwater and the ACLU are calling for reforms. Cronkite News. http://bit.ly/2u8VTXa
Without telling media, Arizona judge orders dozens of articles to be deleted. From the Condé Nast-owned site Ars Technica: “In July 2013, several news outlets ran stories about Megan Welter, celebrating how she went from service as a U.S. Army officer to becoming a cheerleader for the Arizona Cardinals… Just two days after the positive news articles, Welter was arrested for assaulting her boyfriend… News stations that had shown Welter as an all-American cheerleader just days earlier now ran stories featuring her police mugshot… Last year, Welter sought to change her unflattering history.” Here’s what happened –> http://bit.ly/2tfxOwt
