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The Dealmaker: 8/4/2017

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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



Will 2017 home sales in Phoenix-area set a record? Higher than “the boom year of 2005 when speculators bought a record number of homes”? Unlikely. More than “the bust year of 2011 when investors snapped up a record number… foreclosure homes”? Probably not. But with a 9% jump  from a year ago, “2017 is shaping up to be one of the best years for home sales in metro Phoenix.” AZCentral. http://bit.ly/2u8qCTj

Report: Phoenix doesn’t have enough apartments short-term, either.You’re probably familiar with a recent report stating that Phoenix needs “150,302 new apartments by 2030…” Now, ABI’s Thomas Brophy gives us his “short-term” assessment, estimating that Phoenix is currently 12,000 apartment units in the hole, and that, given current population growth trends, that figure could hit “18,000 by 2020.” For “Phoenix Market Metrics” and Brophy’s complete “Outlook,” tap to AzBigMedia. http://bit.ly/2hvJtpM

West Valley quality of life helps WESTMARC market region. “West Valley assets have become more apparent than ever — from roses and cacti to an impressive skilled workforce, attractive housing options and enough retail offerings to make even a major metropolis blush… The quality of life in the West Valley has never looked better…” In fact, things are looking so rosy that the author of this AZREcolumn — “acclaimed children’s book author” Erin Thorburn — likens the “essence of the West Valley” to that “famous Louis Armstrong serenade, ‘What a Wonderful World.’” http://bit.ly/2u8Fv8j

West Side Story: West Valley rents up, commercial developments moving westward. Will millennials follow suit? Phoenix Magazine: “[R]esidential and commercial real estate developers are snatching up WV parcels of land like they’re never-ending breadsticks. Is the west side, dare we say it, getting cool?” http://bit.ly/2u8Roed

20 Cities in 20 Days: Mesa combines rich history with plans for bright future [VIDEO]. Among the stops on this 3TV/CBS 5 video-tour of Mesa: The Mesa Center for the Arts, Hohokam Stadium, and the Sunkist packing building. WATCH all the segments at azfamily.  http://bit.ly/2u8RLph 

Casa Grande Council plans to discuss $124M tax rebate for proposed amusement park. (Disclosure: Rose Law Group represents The Block Sports Group.) “Dreamport Villages, a 1,500 acre development that will include several theme park attractions, would receive the rebates as part of a development agreement… No money would be made available until The Block Sports Group, the principals behind Dreamport, had completed needed infrastructure [for “a project of this magnitude’]” — “‘most likely including a new interchange at the Henness Road and [I-8]…’” Pinal Central. http://bit.ly/2wsOYIj 

[OPINION] Korte: Desert EDGE will be a community amenity to Scottsdale. “After attending two of the public presentations several days ago,” City Council member Virginia Korte spells out why she’s “enthusiastic about the Desert EDGE and support[s] taking the next steps to move it forward” — in Scottsdale Independenthttp://bit.ly/2urs2ri

Milwaukee Brewers explore Gilbert as spring training home. “The Major League Baseball team wants Gilbert to build a $90 million baseball facility near Loop 202 at Lindsay and Germann roads… LGE Design Build also proposed a 13-acre village next to the facility that would include 220 hotel rooms, 85,000 square feet of office space and 50,000 square feet of retail.” AZCentral. http://bit.ly/2wsFzQQ

As Chandler Boulevard Extension opens, flooding problem emerges. (But it’s probably nothing compared to the deluge that occurred from the broken pipe at Chase Field.) “The new $11.2 million [1.2-mile three-lane] Chandler Boulevard Extension opened Friday, hailed by city and regional officials as an important link in the ultimate plan to complete the controversial South Mountain Freeway.” But now AFN reports that “[r]unoff that previously had spread across a wide swath of desert is… being redirected into a portion of Foothills Reserve….” http://bit.ly/2v4OuKB

DOLLAR SIGNS – Surprise sign code proposal would open door for billboards. “[C]ommercial billboards are not allowed under current city code. As part of the revision process, city staff and commission members debated allowing the billboards… [T]he consensus was electronic billboards could work in smaller numbers…” And YourWestValley reports that “[c]ommission members and staff are particularly supportive of the concept if it can generate revenue for the city.” http://bit.ly/2v4cn4R

Florence working on new transportation plan. “Town officials staff recently learned the town had won a $125,000 ‘Planning Assistance for Rural Areas’ grant from [ADOT] to develop the plan… [which] will analyze traffic data, trends and development patterns.” Florence Reminder. http://bit.ly/2vA9lXN

Snuffed out: Neighbors fume over smoke shop bid. “Gravitate Smoke Shop… applied to Tempe’s Development Review Commission for a use permit [for the ‘vacant space inside the strip mall on the S.W. corner of McClintock & Warner in South Tempe] but was denied last month at a public hearing.” The reason the permit was rejected and why the shop wasn’t that appealing to nearby residents — in Wrangler Newshttp://bit.ly/2ffr8MI 

Mayoral candidate files defamation lawsuit. “[A] defamation lawsuit [has been filed] in Yavapai County Superior Court… against the organization that sent out the [‘dark-money’ campaign] mailers attacking [mayoral candidate Mary Beth] Hrin. [Additionally, a motion has been filed] for a temporary restraining order and preliminary injunction to prevent ‘further false statements” about Hrin.’” Read more in The Daily Courier. http://bit.ly/2ubh91v


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

JFK: The murder that just won’t go away. Senior Reporter/Writer Phil Riske has “always believed Lee Harvey Oswald alone killed JFK.” However, after reading the recent article “How the CIA came to doubt the official story of JFK’s murder,” Phil is “opening [his] mind slightly on conspiracy.” Check out Phil’s piece and the “key portion” of the POLITICO article that got him rethinking his position, in Rose Law Group Reporterhttp://bit.ly/2fg5Uyp

Sen. John McCain: ‘I’m feeling fine’; talks health-care vote, legacy [VIDEO]. Arizona Sen. John McCain joined azcentral for a one-on-one interview to talk about his cancer diagnosis, President Trump, health care and more. WATCH: http://bit.ly/2ffeXzG

A YUUUGE STORY? – Arizonans object to Trump’s voter fraud panel, cancel their registration. “The voters, who are from Pima and Maricopa counties, directly cited efforts of the Presidential Advisory Commission on Election Integrity to obtain voter information in their decision to cancel their registration…” So out of “more than 3.6 million registered voters” in Arizona, how many folks canceled? Six. Arizona Capitol Timeshttp://bit.ly/2v6ijZF

Diamondbacks-Chase Field Roundup: They want to stay here; Fans react.The D-Backs are leaving. No, they’re staying. MLB may force a move. But it will only be temporary. The D-Backs are responsible for repairs. No, the county is responsible for pipe breaks and flooding. Rose Law Group Reporter has links to all the latest info on the Chase Field fiasco. http://bit.ly/2u8zPLD

ASU football players react to eye-opening CTE study. “Chronic traumatic encephalopathy, known as C.T.E., was found in 99 percent of deceased NFL players’ brains that were donated to research, according to a study published recently in [JAMA]. Here’s a quick sprint through some of the responses from a few of the ASU players, as reported by Cronkite News: “It don’t bother me”; “[I]t’s football”; “[I]t is a little scary.” And finally: “I try not to think about it,” (Too many conks to the noggin and that should be a piece of cake.) http://bit.ly/2ub2h3z

Have smartphones destroyed a generation? That’s the question posed by author and professor of psychology at San Diego State University, Jean M. Twenge, for a piece in The Atlantic. Twenge argues that even though “post-Millennials” are more “comfortable online than out partying” and are  safer, physically, than adolescents have ever been,” they are “on the brink of a mental-health crisis.” http://bit.ly/2wsUpqu

Newsmaker BONUS: Tempe-based pot company buys entire California town. (No, it wasn’t the town of Highland; nor was it Ojai or Rolling Hills. And it wasn’t the town of Weed, either, that American Green Inc. bought. It was the “tiny burg of Nipton, California, for about $5 million and [with] plans to invest as much as $2.5 million over the next 18 months to create a pot-friendly tourist destination. The purchase includes 120 acres of land with a general store, a hotel, a school building and mineral baths.” Las Vegas Herald-Review.

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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