New to market: 6 projects you need to know. “There are a lot of cranes operating in Arizona as developers pursue new projects that are creating a more diverse state. Here are six projects that were recently finished or broke ground in Arizona, as seen in the September/October issue of AZREmagazine.” http://bit.ly/2hi4Rz0
USAA starts upscale 1,100-home development at Norterra. “The development sits on 398 acres between I-17 and 19th Avenue, and Happy Valley and Jomax… [The] project harken[s] to Kierland Commons or Scottsdale Quarter, with restaurants and shopping along a Main Street and lofts above stores.” Get further details and view a video along with renderings at North Phoenix News. http://bit.ly/2xkJIYW
Homebuilders opt to deliver luxury homes as building costs increase.AzBigMedia picks the brains of ASU real estate prof Mark Stapp and Tinker Development CEO Erik Tinker on the current state of the affordable housing market and the challenges builders face trying to contribute to the “low supply of affordable housing in Arizona.” http://bit.ly/2xrrXc5
Home sales slide, prices rise. “[North Phoenix sales] of existing homes in August declined [7.1 percent from July, 2.5 percent from August 2016]… [T]he average sales price rose in three NoPho zones compared to August 2016, and price per square foot inched up in four zones.” Head to North Phoenix News for the full report. http://bit.ly/2xUaPgq
October best month for starter homes. “Trulia on Wednesday released the findings from its quarterly Trulia Inventory and Price Watch, which found that starter-home buyers should accelerate their house-hunting plans now as for-sale inventory increases and listing prices decrease in the fall and winter months.” See how Phoenix stacks up to other metros when it comes to Seasonal Differences in Inventory and Listing Prices, in Builder. http://bit.ly/2xy49DK
MBA: Mortgage applications drop 9.7%. “The Refinance Index fell by 9% over the same period, and the Purchase Index fell by 11%.” Get the full breakdown of the latest Mortgage Bankers Association’s Weekly Mortgage Application Survey, Market Composite Index, in Builder. http://bit.ly/2yfQFd0
The incredible, disappearing home down payment. With a down payment cited as the “single biggest factor” standing in the way of home purchases — particularly for millennials — “startups like Unison and Loftium are looking to profit by investing money upfront with real-estate shoppers.” Axios looks at each company’s approach. http://bit.ly/2hi675c
Millennials are finally forming households: What it means for retailers. “Big-ticket retailers such as Home Depot and IKEA are already making efforts to court millennial shoppers.” Forbes sees “two millennial tendencies that will shape retail demand in the coming years…” (Well, millennials are known for living with their parents longer than previous generations did. So maybe they’ll be clamoring for more Mom & Pop shops?) http://bit.ly/2fmfqjQ
West Valley developments aim to keep residents from commuting.“[L]eaders are struggling to combat the longtime reality that most residents commute to Phoenix, Scottsdale and the southeast Valley for jobs and often travel elsewhere for shopping and entertainment.” That struggle may be nearing an end, however, as “construction is popping up, developers are tucking restaurants and stores into strip malls and building on large land parcels.” Cronkite News takes a look at some of these developments. http://bit.ly/2xqnCpm
East Valley cities line up to win new Amazon headquarters. “Based on the company’s request for proposal — which seeks a business-friendly metropolitan area with more than 1 million people — the East Valley appears to fit the bill… Several local leaders agree…” (And, fortunately, none of the city officials featured in this East Valley Tribune report have attempted to lure the online giant into building its massive HQ in their respective area by way of the ol’ “Saguaro Cactus On A Truck” trick.) http://bit.ly/2wJLWzb
Prominent development site cleared in downtown Mesa. “Sunbelt Holdings owns the full city block and demolished former auto dealership buildings on the site at Main Street and Hibbert… It’s right on the Metro light rail and one of numerous empty or under-developed parcels along Mesa’s downtown drag.” And what’s in store for the 10.6-acre site? Find out at PBJ. http://bit.ly/2xqjtlq
Chino residents oppose plans for 55+ development. “Chino Valley residents filled Town Hall last week to voice opposition to… West Meadows development, an active adult community… that will feature up to 276 park model units.” Residents say the development “on Road 1 West just north of Road 4 North, doesn’t fit with the town’s general plan” and “infrastructure can’t accommodate” it. The Daily Courier. http://bit.ly/2w9lVJP
Board of appeals orders Peoria Regional Medical Center demolition. “The medical center [on North Lake Pleasant Road] was intended to be the city’s first full-service general acute-care hospital… [But since] the first steel beams, decking, and concrete slab were built, nothing has happened, except Chapter 11 bankruptcy proceedings… [Now], the Peoria Building Board of Appeals [has] upheld the decision of the city’s code enforcement staff, which recommended the structure — that once held so much promise — should be demolished.” Peoria Times has further details — and a rendering of what could have been. http://bit.ly/2xxHast
Indian Bend Properties v. City of Scottsdale ends in settlement. “The matter stems from a property dispute involving three parcels of land adjacent to the Silverado Golf Course near the corner of 84th Street and Cactus Wren Road in Scottsdale. The dispute dates back to the 1980s…” The rest of the story and terms of the settlement at Scottsdale Independent. http://bit.ly/2xi05ry
Queen Creek P&Z OKs Amerco, assisted living home rezones. “The Queen Creek [P&Z] approved the Amerco rezone [of a ’35-acre site on the southeast corner of Hunt Highway and Empire Boulevard’] much to the dismay from those opposed” In addition, “deviations” for an assisted living facility on a “2.32-acre site at the southwest corner of Ocotillo Road and 228th Street,” and a “2018 General Plan update were also approved, but with no opposition from residents.” Tap to Queen Creek Independent for the full P&Z recap. http://bit.ly/2jP9OAc
8 pedestrian-friendly U.S. cities to explore. “Cities like Boston, Chicago, New York and San Francisco, with their extensive public transportation systems, have long been go-to destinations for carless travelers. But a few unexpected locales [Phoenix!] have joined the list, thanks to new and expanding transit options.” Check out the list in The New York Times. http://bit.ly/2xiInV3
By the numbers: Airbnb saw business blast this summer. “The San Francisco-based home-sharing company released some numbers from the summer travel season showing almost 150,000 guests used the service in the state.” Get guest arrival figures for Phoenix, Flag, and the entire state at PBJ. http://bit.ly/2xqVK4M
Paradise Valley to gauge local appetite for SRP under-grounding. “Town of Paradise Valley officials have been given the proverbial head nod to explore a proposed method to finish under-grounding utility lines that could cost affected residents thousands of dollars.” Learn where those UN-under-grounded areas are, plus find out the potential costs involved, in Paradise Valley Independent. http://bit.ly/2xUbVJ4
Surprise City Council appoints Patrick Duffy to District 3 seat. Patrick Duffy!? The actor who played Bobby Ewing in Dallas?! That Patrick Duffy!?! No, not quite. This Patrick Duffy is a “financial analyst at Merrill Lynch, who served on Surprise’s Municipal Property and Corporation Board, which handles debt issues, as well as the Community Recreation Services Department.” He was appointed to the “seat that John Williams vacated in August.” More about the non-Bobby-Ewing Patrick Duffy in AZCentral. http://bit.ly/2ysQLil
BLM To Acquire Ranch In Arizona’s Santa Teresa Mountains. “[Acquisition of the 600-acre ET Ranch] opens public access to the 5,800-acre [Bureau of Land Management] wilderness area, located northwest of Safford, Arizona, and the nearby 26,800-acre Santa Teresa Wilderness Area in the Coronado National Forest.” ADIreports that “the deal is part of an effort to appease those who were disappointed” with recent action taken by Secretary of the Interior, Ryan Zinke. http://bit.ly/2warEPE
Dealmaker BONUS: Phoenix Suns announce $1 million grant aimed at community basketball court renovations. “The grant, which celebrates the Suns’ 50th season, will bring renovations to 50 different basketball courts around Arizona…” Suns Managing Partner Robert Sarver announced the grant Wednesday at a ceremony held just outside of Neighborhood Ministries in downtown Phoenix — on the very first of those “freshly renovated” courts. PBJ. http://bit.ly/2flAuXO
The big solar verdict: Domestic industry vs. cheap foreign imports. “The solar industry is on edge ahead of tomorrow’s vote by the International Trade Commission on whether it finds domestic solar manufacturers have been injured by cheap foreign imports. If it does — and most observers expect it will — President Trump makes the final decision on whether to impose tariffs or other trade remedies.” Why it matters in Axios. http://bit.ly/2hkNHgz
Rose Law Group Reporter’s Top 10 Foodie Celebrations. This week alone has heralded National Cheeseburger Day, Arizona Restaurant Week and National Pepperoni Pizza Day. The media obsession with foodie stuff, however, have left out some important such acknowledgments — and Senior Reporter/Writer Philip R. Riske has them! –> http://bit.ly/2xxBJJX
I SAY ‘PANTOJI,’ YOU SAY EMOJI – Judge reverses decision in Pinal racetrack case due to ‘threatening’ Facebook emoji. “In July, Superior Court Judge Kevin White ordered the Arizona Attorney General’s Office to reveal the name of a source who leaked information about [an unregulated] horse racing venue, known as ‘Carril Pantoji,’ that operated near Picacho five years ago.” But after prosecutors submitted “threatening” Facebook comments containing an emoji with its eyes X’d out, Judge White — well, you know what he did: He called the whole thing off! http://bit.ly/2hiwAPO
Ducey defends support of Graham-Cassidy. “Gov. Doug Ducey is defending his support for the latest bid to repeal the Affordable Care Act… [T]he governor said he remains convinced that what comes next will be better than what exists now, even without yet knowing the effect on the state and its residents.” from Cronkite News in Rose Law Group Reporter. http://bit.ly/2fe2xEZ
Senate eyes bill on online sex trafficking; critics say it goes too far.Recently, a judge dismissed a sex trafficking case against backpage.com, under Section 230 of the Communications Decency Act. “For Cindy McCain and other advocates at a sometimes-emotional Senate hearing Tuesday, that is just more evidence that the law needs to be changed to fix a problem that they say allows online child sex trafficking… But others at the hearing said the problem of online trafficking is too big to be solved by rephrasing one section of the law.” Cronkite News. http://bit.ly/2fmfccG
Stadium shutout. “The razzle-dazzle of hosting a professional sports team is dimming,” writes columnist Frank Shafroth in this piece for Governing. Shafroth, who is the director of the Center for State and Local Leadership at George Mason University, looks at how the “financial risk of fronting money for a stadium and dedicating available land to it has its limits.” http://bit.ly/2xi1qyA
