Resident’s suit against City, Apex thrown out for lack of ‘standing.’ (Disclosure: Rose Law Group represents APEX Motor Club.) Judge Robert Olson: “The plaintiff [Bonita Burks] lacks standing to challenge the issuance of the permit, since there is no evidence that the plaintiff will suffer any injury that is more substantial than suffered by the community at large.” InMaricopa reports that Burks “lives more than five miles from the area in question.” APEX VP Matt Williams on the ruling: “Our continued partnership with the City is coming to fruition… From that perspective, we couldn’t be more excited and more thrilled.” http://bit.ly/2x7ZUhJ
Supreme Court denies appeal in APEX lawsuit. This PinalCentral news story, which Dealmaker brought to you yesterday, has been UPDATED to include further details on Wednesday’s Arizona Supreme Court decision to deny a “request to review a petition filed by plaintiffs in a lawsuit against Private Motorsports Group and the city of Maricopa.” In addition, there’s further info on the most recent ruling in APEX’s favor (see above). As this article puts it: “The developers of a private motor park in Maricopa and the city won back-to-back victories in court this week.” http://bit.ly/2x5V5DR
2017 Builder’s Choice & Custom Home Design Awards. “This year’s group of award-winning homes runs the gamut from the Project of the Year — a stunning custom home perched on a rock outcropping in New York state — to beautiful production, multifamily, and affordable homes.” View the winners here: http://bit.ly/2wvse9Y
KB opens 95-home community in Tucson. Builder has KB’s announcement on the homebuilder’s grand opening of its gated Montaretto Estates community off La Cholla Boulevard near I-10 in northwest Tucson. http://bit.ly/2y4lYYe
New development looks to build in Granite Dells Homes along the Peavine Trail? “Jason Gisi, CEO of Arizona Eco Development, appeared before the Prescott City Council on Sept. 12 to introduce plans for a 3,850-home development that would include annexation of two parcels of land, totaling more than 3,000 acres, as well as a parcel that is already within city limits.” The Daily Courier. http://bit.ly/2x4HIni
Does it make the grade? Entire high school in Arizona on the market for $649K. Realtor. com® showcases a “32,000-square-foot former high school in Globe, AZ,” which features over a dozen “classrooms, a large outdoor area, and a two-story, regulation-size basketball court… Some interested buyers have considered turning it into an indoor mall, assisted-living facility, rehabilitation facility, or medical clinic.” Tap through for the story along with pics, including a rather creepy-looking one showing a lone chair in the middle of an empty classroom (likely placed there to provide perspective, but creepy nonetheless). If the place doesn’t sell beforehand, it could make for a perfect Halloween haunted house! http://bit.ly/2vZajt3
Demand for house rentals intensifies. “Apartment rents are appreciating less than house rents, thanks to shifting demand for single-family rentals…” Zillow chief economist Dr. Svenja Gudell weighs on “colliding factors… driving the trend,” plus get Zillow Rent Index figures for Phoenix and other metros — at RISMedia. http://bit.ly/2fcMsmp
Flippers flounder but fail to flop. “53,638 single family homes and condos were flipped nationwide in the second quarter of 2017, a home flipping rate of 5.6% of all home sales during the quarter. [That’s] down from 6.9% in the previous quarter but unchanged from a year ago.” Builder has more from the ATTOM Data Solutions report, including the share of financed-flips in Phoenix. (We’re among the top 10 markets!) http://bit.ly/2ycJS4G
Mainstreet Health invests $100M in Arizona to open 4 rehab centers.“Called Rapid Recovery Centers, these facilities are designed to feel more like a hotel, specializing in rehabilitation and care immediately following a hospital stay… [Mainstreet Health’s] plans call for opening all four of them before the end of the year in Surprise, Phoenix, Chandler and Tucson.” The Carmel, Indiana-based developer also plans to “hire 800 people to staff them.” Get a “closer look at each of the facilities” in Phoenix Business Journal. http://bit.ly/2f19vNx
What one dead mall can teach another: Turning Phoenix’s first mall into a high-tech hub. “[A]s other malls — and retailers — wrestle with the world of Amazon. com and e-commerce, Park Central is looking at a reincarnation as a technology and knowledge worker focused development. [Prominent real estate developer] Sharon Harper is leading that effort. And she thinks she has the blueprints for success.” PBJ. http://bit.ly/2jtTy7v
DCP Companies, Confluent Development team up for Sky Harbor development. “The partnership has acquired a former grocery warehouse building located [at 317 South 48th St.].” AZRE reports that the Colorado-based firms will redevelop and expand the existing building into a [225,000 sq. ft.] class ‘A’ distribution center named HUB 317.” Get further details and view the rendering here: http://bit.ly/2wvw5nr
Maricopa P&Z gives nod to plans for Circle K. “[The] development review permit [is] for a proposed Circle K at the southeast corner of Honeycutt and Porter… Because it is a corner lot at a busy traffic signal, senior city planner Rodolfo Lopez said, ‘Access has been a hot topic.’… The convenience store is currently planned to be 5,881 square feet. The property is 1.8 acres.” Read on and view the site plans at InMaricopa. http://bit.ly/2fpGbAX
GOOD TO GO! – Global Water expansion permit gets Maricopa P&Z OK.“Global Water had a previous expansion plan in place in 2006, but that ‘never panned out…’ Now the company has a new master plan that would allow the wastewater facility to treat about 60 percent more effluent.” InMaricopa. http://bit.ly/2x83vfK
Mesa’s Office of Economic Development earns accreditation. “[The] accreditation from the International Economic Development Council, [makes Mesa’s OED] one of 60 economic development organizations to meet the standards for accreditation.” Mesa Economic Development Director, Bill Jabjiniak: “This accreditation validates the efforts of our talented team and our commitment to upholding the highest ideals in economic development…” Arizona Business Daily Reports. http://bit.ly/2xEOza6
Fannie, Freddie cut mortgage modification interest rate again. “Fannie Mae and Freddie Mac are lowing the benchmark interest rate for standard mortgage modifications for the third time this year, reports HousingWire staffer Ben Lane.” (But you can get the figures and read much of Ben Lane’s report in Builder.) –> http://bit.ly/2y4jHvY
Harvey’s hit to mortgages could be four times worse than predicted.“CNBC staffer Diana Olick reports that as many as 300,000 borrowers could become delinquent on their loans and 160,000 could become seriously delinquent, that is, more than 90 days past due, when banks initiate foreclosure proceedings, according to Black Knight.” Find out why the numbers are higher than originally estimated, in Builder. http://bit.ly/2fo3lHw
Gov. Ducey: State ready to woo Amazon to land its second headquarters.(Excellent!) “But while Ducey said Arizona intends to compete for Amazon’s business, he quickly tempered expectations of landing the huge project.” (Oh.) Arizona Capitol Times. http://bit.ly/2ycy9mF
Fearing protests, group moves Las Vegas dinner honoring Arpaio. “The Las Vegas Review-Journal reported that the ex-lawman was set to be honored with the Conservative Leadership Conference’s Courage Under Fire award at a dinner Saturday at the Tropicana but that authorities were concerned with protests… The dinner’s date coincided with Mexican Independence Day festivities.” KTAR reports that the organizer of the event “blogged that the new location would not be publicized…” Probably a wise move, especially if they’ve decided to relocate the dinner to a Phoenix-area Motel 6. BTW, no truth to the rumor commercials for Motel 6 will soon feature the song “ICE ICE BABY.”) http://bit.ly/2f0sLKL
Sinema hopes Trump meeting start of bipartisan work. “U.S. Rep. Kyrsten Sinema (D-Ariz.) said… she and eight other Democrats met with Trump and five congressional Republicans on Wednesday without party leaders present… ‘If President Trump is genuine in his interest in doing anything bipartisan, I’m going to be at the table…’” More of what Rep. Sinema told KTAR News 92.3 FM’s Mac & Gaydos about the meeting, here: http://bit.ly/2h6U86x
Ducey takes slap at AG and his lawsuit on tuition. “[Gov. Doug] Ducey, in his comments Thursday, did more than disagree with Brnovich’s conclusion that the tuition is unconstitutionally too high. He also took a slap at the attorney general for seeking to resolve the issue by filing suit — and doing so without first talking the to the regents.” A Capitol Media Services/Howard Fischer report in The Daily Courier. http://bit.ly/2whpS3y
Perception of charter schools clouded by information gap. Charter schools are private. They teach religion. The tuition is crazy expensive! Your kid practically has to be Einstein to get in! Those are just a few examples of misperceptions that parents have about charter schools. Griselda Nevarez and Evan Wyloge (Arizona Center for Investigative Reporting) look into this ‘information gap” problem and what’s being done to close it — in East Valley Tribune. http://bit.ly/2wgPf5x
Newsmaker BONUS: The safest football helmet is not yet a hit in the NFL.“[Vicis’] new helmet gets top safety rating but has yet to take hold among players, even amid heightened attention to links between football and head trauma… The Seattle firm attracted more than $40 million in funding, its first product tested better for safety than any helmet in NFL history, and several high-profile players signed on as investors, reports The Wall Street Journal.” http://bit.ly/2x4KIA4
