The Dealmaker: 7/31/2017

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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

 

 

 

For some, things didn’t end well for Roosevelt Row in Phoenix v. Arizona. “The case stemmed from efforts to create a Roosevelt business improvement district (or BID) that would tax property owners… to pay for services above and beyond those provided by the city.” Now, because of Superior Court Judge Daniel Kiley’s ruling, those efforts, “more than two years in the making,” are “all for naught” (barring success on appeal). Phoenix New Times. http://bit.ly/2uRaM0L 

Study of Northwest Valley homes shows skyrocketing appreciation. “A recent study… found that 13 neighborhoods in the [N.W.] Valley appreciated from 36.6% to 94.4% in just over five years, with the Dos Rios community nearly doubling in value.” More on the study along with a list ranking each neighborhood according to its “increase in annual average sales price per-square-foot,” at AzBigMedia. http://bit.ly/2f1SZ2V

Canadians selling more homes than they are buying in Phoenix area. According to one industry expert, “for every Canadian buying a metro Phoenix home, another nine are selling.” AZCentral’s Catherine Reagor pinpoints one big reason for the “dismal” drop in Canadian homebuyers, in this rhetorical question: “And who can blame an owner for selling when the value of their house has more than doubled?” http://bit.ly/2vgiqDM

Big League Dreams seeks compromise with Gilbert over closed stadiums. “[W]ith no revenues being generated at the facility for weeks [due to ‘an eviction order that temporarily put them out of business], the venue’s… owners are… seeking at least a partial reopening of the complex while Gilbert undertakes some major renovations.” But can such a compromise “be worked out”? East Valley Tribune notes that, with sides far apart regarding safety issues, the prospects for a deal are “uncertain.” http://bit.ly/2tRJbLh

Another lawsuit filed against Maricopa racetrack. (Disclosure: Rose Law Group represents APEX Motor Club.) “A second civil lawsuit has been filed against the city of Maricopa for approving the construction of [APEX]… Matt Williams, spokesman for Private Motorsports, called [both] lawsuits against his project ‘frivolous’ and having ‘little to no merit.’ He said the company is pressing forward in light of the legal challenges and it remains committed to seeing APEX come to fruition.” PinalCentral. http://bit.ly/2uQY5Da

Approval of solar plant zoning first in country! “Known as the Pinal Central Energy Center, the project is to be the first photovoltaic solar and battery-storage hybrid plant in the country.” While Coolidge “is not opposed to the project,” PinalCentral reports that City Manager Rick Miller is concerned about “what the plant will mean for the expansion of SR 287 in future years.” http://bit.ly/2uO7ugk

Vector Launch facility RFP hits the street. “Nearly eight months after setting its land lease with Pima County, Vector Launch Inc. (aka Vector Space Systems) has issued the RFP for construction of its launch vehicle and satellite manufacturing facility on 15 acres in the county’s Aerospace Research Campus.” And it’s an RFP that has one “major — but highly unusual —  component….” AZBEX. http://bit.ly/2uOjcHM

MAKING THE GRADE? – The future of Prescott’s Lakeview Plaza. “For the past eight months, the developers of the land have been struggling to flatten the parcel in a timely manner. Difficulties with contractors, machinery and weather have delayed the project, causing some recent upset in neighboring communities and testing the patience of the city, which has had to extend the grading permit several times.” The Daily Courier. http://bit.ly/2hgRmPx

‘Hit piece’ flyer overshadows Prescott candidate forum. “For two hours… eight of the nine Prescott Mayor and City Council candidates responded to questions on hot-button issues such as Proposition 443, airport expansion, and job creation. All of that was overshadowed… when mayoral candidate Mary Beth Hrin… held up a flyer that she said had gone out widely to Prescott voters, alleging an unpaid medical bill.” The Daily Courier. http://bit.ly/2f1n42N

Supermarkets face a growing problem: Too much square footage. “A massive build-out by retailers has left the country piled up with grocery shelves as consumers are shifting from big weekly shopping trips to more snacking and to-go meals. The mismatch has flattened retail sales and leaves the industry vulnerable to a wave of closures that some executives, bankers and industry experts think is coming soon, reports The Wall Street Journal.” http://bit.ly/2vmarpK

Dealmaker BONUS: Staggs-Bilt homes leaves mark on mid-century Phoenix. “Between 1949 and 1973, the Staggs-Bilt Corporation constructed over 14,000 homes in 63 subdivisions around greater Phoenix.” Arizona Reportcolumnist David Meek gives us a glimpse into the life and career of Ralph E. Staggs and the history of Staggs-Bilt homes, a homebuilder which, by Meek’s estimate, “is responsible for creating approximately 1.3% of the Valley’s present-day single-family housing stock.” http://bit.ly/2vYDsou

Dealmaker BONUS: NW Valley brick and mortars evolve with the times, e-commerce now 8.5% of total sales. “Macy’s, Radio Shack and JC Penny have shuttered dozens of locations… as online sales take over the marketplace… But many West Valley brick and mortar businesses are bucking the trend and relying on a variety of means to adapt in an ever evolving retail landscape.” YourWestValley. http://bit.ly/2ucVS2G 

Cameron’s $5M + deals of the day – http://bit.ly/2tXb2Ok 



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

 

Crime, economic development, rural living most on the minds of Pinal County residents, says newspaper editor/reporter. In this, another in a series of interviews with journalists who bring you the news, Senior Reporter/Writer Phil Riske chats with Joey Chenoweth, county editor, Casa Grande Valley Newspapers, Inc. PinalCentral. In Rose Law Group Reporter. http://bit.ly/2vfUYXo

Border-tax idea dead, Arizona businesses elated“The idea, known as BAT, ran into stiff opposition from both giant retailers like Walmart and smaller Arizona businesses like Accurate Signs and Engraving in Phoenix… [Last week], Republicans in the House and Senate and Treasury Secretary Steve Mnuchin said they were dropping the BAT.” Reaction? “‘We did a little happy dance over here,’ said Michelle Ahlmer, executive director of the Arizona Retailers Association.” At AZCentral. http://bit.ly/2vfR0OE

[GUEST OPINION] Conservation accord is progress toward much-needed Colorado River deal. “[T]he state of Arizona, city of Phoenix, Walton Family Foundation, and U.S. Bureau of Reclamation [recently] signed an agreement with the Gila River Indian Community to conserve 40,000 acre-feet of Colorado River water and dedicate that supply to protecting Lake Mead’s water levels.” In Arizona Capitol Times, former Interior deputy secretary Mike Conner lauds the agreement, calling it a “much-needed spark” that may “re-energize drought contingency discussions within Arizona and across the entire Colorado River Basin.” http://bit.ly/2vm5HQR

VOTING BLOCK – Legislative bill would block out-of-state college students from voting in Arizona. Do out-of-state college students “‘unfairly influence’ elections?” Rep. Bob Thorpe thinks so. Cronkite News reports that the Republican lawmaker from Flagstaff is “drafting a bill this summer that would ban out-of-state college students from voting in Arizona elections” — a bill that has “spark[ed] criticism from other public officials” — including from those within Rep. Thorpe’s own party. http://bit.ly/2vc5eQO

NFL still owes more than half its brain research pledge. “The National Institutes of Health is ending its partnership with the NFL to study concussions and brain disease, with more than half of the $30 million the league pledged unpaid, according to ESPN… The research deal between the NFL and NIH is set to end Aug. 31…” Find out what’s behind this deal “dissolving in acrimony,” in The Huffington Post. http://bit.ly/2f1ilhs

Do you want those [bleeping] quotes uncensored? “A thorny problem is challenging all news organizations: Do they report profane and vulgar remarks in full or should they paraphrase or abbreviate to get the idea across, without actually publishing such remarks? The problem is not new, but White House Communications Director Anthony Scaramucci tangy tweets this week renewed journalistic and First Amendment issues.” Senior Reporter/Writer Phil Riske looks at both sides of this *@#%$!* issue in Rose Law Group Reporter. http://bit.ly/2tRzVqL

Phoenix Industrial Market Poised to Accelerate in Second Half of 2017 Read more

Christopher Todd Communities creates non-profit A New Lease on Life™ Read more

Central Ave & Indian School Development Site Sold for $6.1 Million Read more

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