The Dealmaker: 9/19/2017

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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




How Equifax breach could hurt home sales; Lauren Reynolds, Rose Law Group litigator focusing on cybersecurity, says ‘breach could complicate everything.’ “For consumers trying to get a mortgage, the data breach, which compromised people’s Social Security numbers, addresses, and credit card information, could stall their loan approval or put them at risk for having their information stolen and used in unlawful real estate transactions.” – REALTORMag.  And here’s just a snippet from Lauren Reynolds: “A breach of this kind, and of this magnitude, could put consumers at risk and could complicate everything from applying for additional credit to purchasing a new home to filing taxes.”

Maricopa and Apex on track. (Disclosure: Rose Law Group represents APEX Motor Club.) “The developer of Apex Motor Club, Private Motorsports Group, is making a significant, long-term commitment to Maricopa’s sustainable growth with the intention of benefiting the City of Maricopa, Pinal County and the State of Arizona.” How much economic activity is APEX expected to generate? Rounds Consulting Group crunched the numbers. Get the results at InMaricopa.

The 25 worst-paying cities for construction workers. “The list includes only the regions where construction workers earn less than $40,480 on average,” and it puts Phoenix at No.11. Thanks for the uplifting news, St. Louis Post-Dispatch

Demolition of Clinton Campbell House begins. Downtown Devil reports that crews have started “tearing down the [122-year-old] Clinton Campbell House in South Roosevelt [357 N. 4th Ave.] after a nearly two-year legal process to decide the building’s fate.” (RELATED: DTPHX has recently updated its “Downtown Phoenix ‘Fact Sheet,” a two-pager filled with the latest facts and figures for the city’s center, in areas of transportation, office, residential, technology, hospitality and more.) –>

Canyon-side regulations approved. “The new [Fountain Hills] regulations add a section to the Zoning Ordinance to regulate development of single family residential lots where the building footprint sits on a slope of 30 percent or greater… [T]he new standards… will allow for development of such lots without the need for variance or other waivers.” FHT.

Pollack: Economic effects from Harvey already showing up. “The U.S. has never before had two Category 4 hurricanes make landfall in the same year, much less within a few weeks of each other.” On the positive side,The Monday Morning Quarterback says that “there is good reason to believe that the current expansion will continue…” Data ‘Snapshots’ include… U.S: GDP, Consumer Sentiment, Retail & Food Service, Manufacturing & Industrial Production, Consumer Prices. AZ: Jobs & Unemployment – Greater Phoenix and Tucson.

HOA, Sun City Grand residents clash over painted driveway borders. “Why do you have to create a problem?” That was the reaction from one resident after the Sun City Grand Community Association Management’s Architectural Review Committee informed him that his painted-brick driveway boarders had become an issue — eight years after he installed them! The HOA wants them gone. Residents of “Sun City Grand in Surprise are fighting to keep” them. AZCentral has the story.

Dear Editor: Two years of letters and photos on The Hub. “Campus proposed its Southside student housing complex known as The Hub early in 2015, but it wasn’t until the first hearings early in 2016 that neighbors and the public learned the details. Nearly two years later, the Hub has been approved for up to five stories and 591 beds, with frontage on South Milton, Mike’s Pike and Phoenix Avenue.” Read the opinions and check out  renderings showing how the Hub’s design has evolved, at Arizona Daily Sun.

Road Runner: Decades in the making, Downtown Links not far from construction. “[Tucson] has already put out a request for qualifications for a company to oversee construction. A request for construction bids will likely come toward the end of the year, and actual dirt-turning ‘would theoretically be three months after that…” This “third and final phase of the roughly $96 million, RTA-funded project” is expected to take two years to complete. For a map and final-design details, tap to Arizona Daily Star.

Developer’s planned curb cuts for water harvesting met with city resistance. “[Developer Dante Archangeli] wants to install curb cuts in a new small, north side subdivision that he’s planning, to capture stormwater runoff from the street… [F]or months, his effort ran into resistance from city of Tucson staffers who said city policies don’t allow it…” But once he asked Councilman Paul Cunningham for a little help, things started to flow. Arizona Daily Star.

Why don’t construction firms make money? “Skilled construction labor capacity is getting tougher and tougher to count on… [T]wo out of five construction firms either merely break even or lose money…” Builder’s John McManus asks if there is a “possible connection” between the two, and then proceeds to drill down into an NAHB analysis that “takes a look at reasons companies fail to operate profitably.”

Student debt delaying Millennial homeownership by 7 years. “The [NAR/American Student Assistance] survey additionally revealed that student debt is holding back millennials from financial decisions and personal milestones, such as adequately saving for retirement, changing careers, continuing their education, marrying and having children.”

ULI report: Here are 5 ways states can create affordable housing. “[The new Urban Land Institute report, ‘Yes in My Backyard’] suggests five ways that states can help cities and counties promote the development of sufficient housing supply and affordable housing, primarily through their land use [and zoning] powers.” Details along with link to the full ULI report at AZRE.

August housing starts dip, single-family up 1.8%. “Permits jump 5.7%, driven mostly by multifamily rebound.” Get the Commerce Department’s latest housing-starts/permit figures, plus a breakdown by region, in Builder.

Which city in Arizona is the worst to live in? “There are 91 incorporated cities and towns in the entire state of Arizona, but only one… was ranked the worst to live in because of its high poverty and unemployment rates and slow economic growth.” The name of the city that earned this ignominious honor along with the link to MSN’s“Worst Cities to Live in Every State,” at KTAR.

Arizona residents respond to Zinke’s public lands recommendations. Sierra Club Arizona Chapter Director Sandy Bahr has released a statement on the heels of a Washington Post report that Interior Secretary Ryan Zinke’s has recommended the modification of 10 national monuments. Tap through to Rose Law Group Reporter for the Bahr news release — plus this RELATED item: “Interior recommendations on monuments still need WH approval.”

Cameron’s $5M + deals of the day –

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

DCS: Phoenix woman who used hemp oil on son will get foster-care license; Kaine Fisher, director Family Law Dept., comments. “Arizona Department of Child Safety officials will revise a newly updated policy banning foster-care licenses for people who possess hemp oil [but not for medical-cannabis consumers’].” The move comes after a New Times report on the agency initially denying Rebecca Masterson “her license based on a 2011 policy that bans people from becoming foster parents if they consume medical cannabis legally…” Kaine Fisher: “The persistent reluctance of the federal government to amend drug laws to more accurately reflect the sentiment of the states and its citizens regarding medical marijuana continues to wreak havoc on state agencies. This is just the latest example.” See Kaine’s complete comment and access the link to the full New Timesstory here:

Arizona Gov. Doug Ducey gives his support to latest ‘Obamacare’ repeal effort; governor candidate opposed. “The legislation would get rid of subsidies for private insurance and end the expansion of Medicaid [among several other changes]. The Republic reports that “Ducey’s move could sway U.S. Sen. John McCain, who… torpedoed the Senate effort in July to repeal former President Barack Obama’s signature health-care law.” Meanwhile, Sen. Steve Farley responds with a “Statement on Doug Ducey and Congress’ latest attempt to hurt Arizonans’ healthcare.”

Democrat Kyrsten Sinema still votes with Trump half the time. “Any day now, we should be getting the official announcement: Kyrsten Sinema is running for Jeff Flake’s Senate seat… But if you were looking forward to backing a genuinely progressive candidate who supports single-payer health care and fights back against the constant demonization of immigrants and refugees, Kyrsten Sinema leaves a lot to be desired.” Phoenix New Times. 

From desert wheat in Arizona to pasta in Italy. “Arizona plant geneticists have spent decades developing the desirable durum through seed breeding. By combining two ‘parent’ strands of wheat that exhibit preferred traits, such as golden coloring or straw strength, researchers breed an entire new line of seeds.” Cronkite News at the process and how “Arizona’s desert durum” makes its way to Italian pasta makers.

Teens aren’t grasping ‘the responsibilities of adulthood,’ new study says.“Today’s teens are on a slow road to adulthood, putting off risky behaviors from drinking to sex, but also delaying jobs, driving, dating and other steps towards independence, according to a new study based on 40 years of survey data.” USA TODAY. 

Cool it: From slushy ice to high utility bills, sports in desert can be costly. “Going to the rink in shorts and flip-flops is a perk that comes with playing hockey in Arizona. Behind the scenes, however, the heat is a strain on the state’s professional teams, especially from a financial standpoint. Cronkite News.

Studio Ma-designed Great Hearts Academies opens to students Read more

McCarthy Building Companies updates Mingus Union High School Read more

Phoenix Investment Real Estate Market Picks Up After Slow Start Read more

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Cameron’s $5M + deals of the day

Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County. Price: $27MBuyer:  Tides on 19th Partners, LLC

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September 2017