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The Dealmaker: 8/8/2017

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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

See what a builder is doing with prime land in North Scottsdale. The builder is Toll Brothers. The property is “40 acres… at 118th Street and Jomax… near Troon North.” The plan is “one-plus-acre home sites similar to… Talon Ranch.” More at Phoenix Business Journal. http://bit.ly/2fqrwrS

Phoenix’s most popular independent hotel is getting a $2M upgrade. “The Clarendon Hotel and Spa [named ‘Most Popular Hotel’ and ‘Best Value Hotel’ on TripAdvisor] is undergoing a facelift, including all major parts of the midcenturyspace, including the guest rooms, public areas, restaurant and rooftop deck.” Owner Ben Bethel: “[W]e have to stay… competitive in a market that’s filled with boring, beige, big-box hotels… We will never rest, and we’ll always be in a state of improvement.” PBJ. http://bit.ly/2hHjP11

8 Best cities for aging in place; Arizona city among top 3. “Retiring baby boomers are… modifying their current homes to allow them to live independently for as long as possible… Realtor. com® scoured listing data in the 300 largest U.S. metros to pinpoint the best markets for aging in place.” For the 8-city list along with a link to Realtor’s “Forever Homes: The 10 Best Places in America to Age in Place,” head to REALTORMag. http://bit.ly/2viVJgu

Meet the McMansion for Millennials. “Toll Brothers is tailoring its product in select markets to appeal to millennials, and others, with smaller, less ornate but still luxury homes… The homes — set to go to market here by year’s end — are aimed not just at millennials but at first-time and move-up buyers of all kinds…” Builder. http://bit.ly/2hGdKSG

[VIDEO] 20 Cities in 20 Days: Goodyear has been open for business since day 1. “The city was established in 1917 with the purchase of 16,000 acres of land by the Goodyear Tire and Rubber company to cultivate cotton for vehicle tire treads.” Segments on this installment of azfamily’s “20 Cities” include: A brief history of Goodyear, trips to Foothills Community Park, and a look inside Southwest Specialty Foods, makers of “Ass Kickin’” brand hot sauces and snacks. http://bit.ly/2uDfEEE

Guess who’s coming to Glendale. Glendale Councilwoman Joyce Clark informs visitors to her blog Joyce Clark Unfiltered that the city will consider the “sale of 13.1 acres located on the north side of Bethany Home Road and on the east side of 99th Avenue to Topgolf.” Tap for details –> http://bit.ly/2wFbrlr

Surprise council leans toward assisting veterans hall. “Surprise City Council did not take action during [a recent] meeting, but gave positive feedback for the city sponsoring a zoning amendment that would allow for a future Veterans Memorial Hall… Right now, [the 5.7 acre site is] zoned as rural residential and must be rezoned for community commercial…” And it’s Councilman Skip Hall who deserves much of the credit for “givi[ing] the veterans a chance to move forward.” Read about it in YourWestValley. http://bit.ly/2umwYi0

Cave Creek planning commission split on inadequate due diligence case.“[T]he planning commission reviewed… an application for a general plan amendment to change the land use for a 5.83-acre parcel on 58th Place from medium density residential… to Desert Rural.” But with nearby residents complaining about “smells, flies and health threat[s]” from   “ducks,” “geese” and the “slaughtering of chickens,” things did not turn out well for the applicant. The capper? The property owners’ “failure to do their due diligence.” Sonoran News. http://bit.ly/2vgpBeR

Phoenix industrial market hits lowest vacancy rate since 2006. “The most active users in the market consisted of housing-related users (building materials and construction manufacturing), manufacturers, food & beverage processors, technology, and e-commerce. In addition, aerospace & defense contract users seeking manufacturing and distribution space in the Southeast Valley have been particularly robust.” More on the CBRE report at AZRE. http://bit.ly/2hHkRdp

Judge denies county request to dismiss two World View counts in lawsuit. “Given that a county-built space balloon manufacturing facility and launch pad have long since completed and occupied by the company World View, Pima County was hoping a superior court judge would rule in its favor on two counts alleging improper awarding of contracts in an ongoing lawsuit over the deal. On Monday, Judge Catherine Woods did not oblige…” Arizona Daily Star. http://bit.ly/2fpGKxo 

Pollack: Nothing terribly unexpected.The Monday Morning Quarterbackinforms us that the latest economic data is “more a confirmation of the trends we have seen over the last several months [and it] suggests that the economy will continue to grow.” MMQ’s ‘Snapshots’ include:U.S.: Employment’s Greatest Gains, Personal & Disposable Income, Consumer Spending, Manufacturing, Auto Sales. AZ: Housing – Days on Market & Price Comparison, Industrial Market & Transitory Shocks. http://bit.ly/2vBPZB8

Dealmaker BONUS: San Francisco residents freaking out after swanky street sells for $90K. “Hey, you think you own the road!?!“ Pose that question to Michael Cheng and Tina Lam and they’ll likely respond, “Why, YES, as a matter of fact we do!“ The couple “purchased [a] block-long street, which is lined with multimillion dollar mansions, at a city auction after the homeowners association failed to pay taxes… According to the San Francisco Chronicle, they are considering charging residents to park on the street.” AZCentral. http://bit.ly/2vgGINN  


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


Analysis: Arizona in bottom half of U.S. for health care. WalletHub…released their 2017 Best & Worst States for Health Care, and Arizona came in at No. 32.” But there was a “bit of good news for Arizona” — KTAR reports that the analysis put us “No. 1 in the country for lowest average monthly insurance premium.” (And hey, let’s also not forget that other piece of “good news” from WalletHub that we mentioned a couple of weeks ago: Eight places in Arizona made its Best Places to Rent list!) http://bit.ly/2vMbdMX 

Doubling down: McCain, Flake don’t soften edges despite poll showing. A recent poll gauging the “popularity of each senator in his or her home state… put… Sens. John McCain and Jeff Flake in the bottom three… Flake [is] a staunch never-Trump Republican, and McCain annoys party regulars by sometimes voting against the GOP.” Cronkite News looks at  the potential fallout for both senators, neither of whom “appears interested in winning a popularity contest.” http://bit.ly/2ulWBiZ

School group says it has enough signatures to put voucher law on hold.Arizona Capitol Times: “Save Our Schools Arizona claims to have collected enough signatures to temporarily halt the expansion of the state’s Empowerment Scholarship Account program… [and] to refer Senate Bill 1431 to the 2018 November general election ballot.” http://bit.ly/2fqAbuk

[IN-DEPTH] Judge to rule whether banning Mexican-American studies is constitutional. The Huffington Post looks into the controversy surrounding Tucson’s Mexican-American studies program — and the trial that followed, which “will soon decide whether Republican state officials violated students’ constitutional rights when they torpedoed [the] program in 2012.” http://bit.ly/2hHG1Iw

Judge insists he can decide extent of corporation commissioner’s powers. “Maricopa County Superior Court judge [Daniel Kiley] said he has the legal right to decide whether state regulator Bob Burns has the unilateral power to subpoena utility executives… In an extensive ruling… Kiley rejected arguments by [APS] that he is legally powerless to intercede in what the company contends is a dispute among commissioners.” Capitol Media Services’ Howard Fischer has the story in Arizona Capitol Times. http://bit.ly/2umvWGL

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Phoenix Multifamily Market Remains Strong Despite Seasonal Uptick in VacancyRead more

7th ABA Backpack Supply Drive donates $25K of supplies to 500 underprivileged youth Read more

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

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