Building a behemoth: the Paradise Valley Ritz-Carlton. “Five Star Development gave the Town of Paradise Valley Independent an inside look at the progress being made in the effort to make the [‘more than 100-acre] resort community come to life.” It’s an “inside look” that features an outside look — at a scale “model outlining how the Paradise Valley Ritz-Carlton will ultimately be developed.” http://bit.ly/2tNp5WJ
Revised Town Triangle applications resume in Paradise Valley. “The [PV] Planning Commission Tuesday… held its first of two study sessions… nearly one year after its initial pitch to build a new subdivision on a precarious piece of local real estate [at Scottsdale and Northern].” This piece in Paradise Valley Independent presents highlights from this latest study session, which “mapped out the unique path the proposed residential community has been on since first announcing plans last fall including application revisions and a permit for one lone gate.” http://bit.ly/2uGN4UH
Largest Legacy Traditional School expands in Surprise. “LTS-Surprise, at 14506 W Sweetwater Ave., has expanded with a $6.75 million separate junior high building for grades six through eight… The new building… includes a turf field.. a piano lab, computer lab, two science lab rooms, several special education and speech rooms, natural lighting and additional offices for staff.” Check it out in YourWestValley. http://bit.ly/2v1IRxz
CRUSHED – Land purchased for Casa Grande auto salvage yard. “LKQ Corporation, an auto salvage company, plans to build a 107,000-square-foot warehouse on 120 acres on the [N.W.] corner of Thornton and Peters.” PInalCentralreports that LKQ plans to crush cars with “a portable car crusher that operates with a four-cylinder hydraulic motor.” That would be awesome to see! They should make a show out of it! Sell tickets to it! With beverages and popcorn! The place could make a fortune!! But then there’s this from the same report: “The facility won’t be open to the general public.” Bummer. http://bit.ly/2tHa0lm
Pinal supervisors move controversial solar project forward. “After about two hours of discussion… the Pinal County Board of Supervisors Wednesday approved what could be the first photovoltaic solar and battery-storage hybrid plant in the country.” But PinalCentral reports that this proposed project on “a 257-acre site at [SR] 287 and Sunshine Boulevard” has “distressed many nearby residents and left some still” unable to see a sunny side to any of it. http://bit.ly/2v31xg6
Here’s how just 1% more home construction could ease the housing supply crunch; real estate consultant Jim Belfiore ‘not fully buying it.’ MarketWatch looks at a Trulia analysis suggesting that “in the largest 100 metros of the U.S., a one-percentage-point increase in home-building over the past five years… would mean existing inventory would stand 13% higher in 2017…” Jim Belfiore: “While I don’t fully buy into Trulia’s analysis that simply building more supply increases home sales, a significant shortage of entry-level new supply exists today. Builders, with the help of municipalities, must find a way to bring more of this supply to market.” Builder http://bit.ly/2v28U7E
Toll launches VR design tool. “Toll Brothers announced today it has begun to pilot a new tool [Kitchen 360] to allow home buyers to use virtual reality to envision design selections in their homes, and make changes that reflect their preferences. This first-of-its-kind VR application allows buyers to create their kitchens from the ground up…” Builder http://bit.ly/2v28U7EWHAT DID YOU EXPECT? – New homes sales fall short of expectations. “New home sales pulled out a slight month-over-month gain [0.8] in June only because estimates of sales in May were revised down.” Mortgage News Daily looks at the latest new home sales figures, median price data, and inventory numbers from the U.S. Census Bureau and the Department of Housing and Urban Development. http://bit.ly/2tNiJXd
MBA: Market Composite Index rises 0.4%. “On an unadjusted basis, the Index increased by 1% over the [week ending July 21, 2017].” Head to Builder for a full breakdown of mortgage activity. http://bit.ly/2tNoHr6
Renter household explosion fueled from all sides. “More households in America are headed by renters now than at any other time in the last 50 years… Pew researchers attribute the recent growth in renter households to not only groups that conventionally rent, such as young adults, but also to groups that have historically owned, such as middle-aged adults.” However, RISMedia reports that “[a]n adverse trend… has begun to take root.” –> http://bit.ly/2uGH4vi
JPMorgan points to low risk of a US housing correction. “Using data from 14 developed countries dating back to 1950, JPMorgan’s research found that sharp price corrections have been relatively uncommon, even following large price increases.” CNBC http://bit.ly/2tNcWB3
The highly contested state of the appraisal market and where it’s headed.“Back in March, HousingWire gathered three industry experts to answers readers’ questions on the appraisal market. But as it turned out, one hour wasn’t nearly enough time…” Now, HousingWire has done a “follow-up” featuring a new trio of experts. For the recap and access to the full webinar, tap it: http://bit.ly/2eRhIqp
Dealmaker BONUS: Chandler Boulevard Extension slated to open Friday morning. “The opening of the three-lane, 1.2-mile stretch connects 19th and 27th avenues….[and] marks an end for now to a debate that began when the Phoenix Department of Street Transportation first brought its plan before the Ahwatukee Foothills Village Planning Committee last August.” But there may be another debate not too far down the road. Ahwatukee Foothills News reports that the new extension “is as much as two feet higher than Chandler Boulevard at Shaughnessy Road near 19th Avenue.” http://bit.ly/2v3krU1
Cameron’s $5M + deals of the day http://bit.ly/2eRtoJU
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Journalists win Arizona Supreme Court case over reporter’s notes. [Arizona Republic editor] John D’Anna in December 2015 published a story about a Catholic priest who said he forgave the man who attacked him with a tire iron and then shot another priest to death. The killer’s defense attorneys in January 2016 subpoenaed D’Anna’s notes from his interviews, and a Maricopa County Superior Court judge ordered that he turn them over…. On Tuesday, the high court dismissed the case.” http://bit.ly/2tGEd4g
Arizona lawmakers blast Trump’s tweeted ban on transgender soldiers.“President Donald Trump said in a series of early-morning tweets [yesterday] that transgender individuals would not be able to serve ‘in any capacity’ in the military. Members of the state’s congressional delegation criticized both the message — one called it ‘dumb’ — and the medium, with confusion on exactly what weight the president’s words have on Pentagon policy.” Cronkite News http://bit.ly/2vMPcdC
Bribery indictment may be tip of iceberg, feds say. “[Federal] prosecutors essentially admit they pretty much tripped across the facts that led to the bribery charges [against ‘Gary Pierce, his wife, a lobbyist, and a wastewater company executive’] ’during a much larger and more intensive investigation.’… The lawyers say they need that information to prepare their defense for the Oct. 3 trial.” By Howard Fischer in East Valley Tribune. http://bit.ly/2tNn4dc
A matter of degree: Communications director claimed he had one. “Dan Godzich is [Director of Communications for the] Arizona Department of Education, but his social media pages and an official press release fudged his own educational history. Godzich does not actually have a college degree.” In other words, his claim of having a B.S. is B.S. Further details in Phoenix New Times, including what Godzich communicated “when pressed for an explanation.” http://bit.ly/2vbEmRy
Democrats fail to kill ‘poison pill’ rider targeting EPA water rule.Translation: “Democrats failed Wednesday night to kill a [‘policy change’] in a $789 billion spending bill targeting the [EPA’s] Waters of the United States rule [that] greatly expanded the agency’s jurisdiction where states once had authority to manage waterways.” More in Washington Examiner. http://bit.ly/2vNdxjy
Verde River ranchers worry about safety in Arizona’s newest state park.“Plans for the 208-acre park include cabins, campgrounds for RVs and tents, a boardwalk along the river and old buildings turned into a store and bed and breakfast. Visitors could ride horses, kayak or canoe down the Verde River and walk along trails when the park opens in December 2018.” Sounds great! So what’s the ranchers’ beef? Cronkite News reports that some “worry visitors will clog the only road and cram into parking facilities, leading to serious safety issues for visitors and locals.” http://bit.ly/2uBWnH3
Harrah’s Ak-Chin brings new jobs with expansion. “Harrah’s Ak-Chin Hotel and Casino is in the midst of a $180 million expansion… that will encompass nearly every part of the property…. In order to accommodate the expansion, Harrah’s Ak-Chin is looking to add about 100 employees…” Click to PinalCentral for further expansion details and some pretty impressive renderings of where those employees could be working. http://bit.ly/2tNnBvu
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