The Dealmaker: 9/25/2017

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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


Water bailout? Colorado River tribes pose statewide leasing idea. “The Colorado River Indian Tribes… want to lease more river water than is delivered each year to the city of Tucson to various water agencies, utilities and the feds. For that, they want more money than they now make from their alfalfa fields, where the water currently goes.” “Bailout,” “boon for Indian tribes” or “an enabler of growth and sprawl”?  Some around these parts are calling it “possibly the biggest news in last 20 years.” Arizona Daily Star looks into this “complex plan” and also has this related item: “$9.1M project to deliver more water to Navajo communities.”

Hospice of the Valley receives $50,000 gift from Michael Pollack. (Disclosure: Rose Law Group represents Michael Pollack in various capacities.) “Over the years Mr. Pollack has also provided discounted rent space to the organization and says he plans on continuing to do so.” Michael Pollack: “If my contribution is able to ease the burden of patients and families who are suffering, even just a little then I am happy to do my part.” Scottsdale Independent.

The large parts of America left behind by today’s economy. “Economic prosperity is concentrated in America’s elite zip codes, but economic stability outside of those communities is rapidly deteriorating.” Axios calls this “one of the most sobering pieces we have run in the eight months since we launched.” The key Arizona highlight: GILBERT! is identified in the report as one of the “most prosperous cities in the country.” –>

Here are metro Phoenix’s hottest intersections to live, work and play. In case you missed it… AZCentral has the results from an Urban Land Institute Arizona poll on the most popular intersections in the Valley. Check out the intersection that knocked Camelback and 24th Street from the top spot, and see what Jordan Rose says are some of the features that landed urban crossroads, Scottsdale and Camelback, No. 3 on the list — in AZCentral.

Goodyear wants design-build for $114M water treatment plant. “In an RFQ published this week, the City’s procurement office announced it is seeking statements of qualification for complete design-build-operate-maintain services, ‘including design, design review/value engineering, permitting and regulatory assistance, and construction services.’” For “project elements” and “Schedule” details, tap to AZBEX

Diamondbacks lawsuit over Chase Field costs county $450,000 in legal fees so far. Nearly half-a-million taxpayer dollars and counting, as the “two sides were back in court Friday before a slightly annoyed judge.” AZCentral reports that with talks now stalled, Maricopa County Superior Court Judge Karen Mullins “offered an unusual solution.”

PhoenixMart plans to open next year. Casa Grande Dispatch brings us up speed on construction progress, reporting that project is “still is planning on opening at the end of 2018, with the first quarter of 2019 being the out-most time frame for opening,” but that construction is “currently delayed because of design changes, which require new building permits.”

Taylor Morrison extends, expands stock repurchase. “Taylor Morrison Home Corporation, Scottsdale on Monday announced that its board authorized an extension of its stock repurchase program until Dec. 31, 2018. The board also increased the amount available for repurchases under the program to a maximum total amount of $100 million of the Company’s Class A Common Stock.” Builder.

Flagstaff faces construction worker shortage. “The most common position companies reported having trouble filling was equipment operators, including crane and heavy equipment operators.” KEY QUOTE: “We as an industry need to find a way to attract 20- and 30-year-olds back into the trades.” Arizona Daily Sun.

Higher density requests OK’d in Sedona. “High rental costs, more long-term rentals becoming short-term and the fact that only 4 percent of Sedona’s housing are apartments has city officials — as well as many business owners — concerned. [Last week], the Sedona [P&Z] addressed this issue in two ways, both through requested major amendments to the Sedona Community Plan.” (Red Rock News also has this related item from the same lengthy meeting: “P&Z declines Son Silver West.”)

[LETTER] EDGE supporters: Scottsdale City Council ought to render final word. Calling critics of the Desert EDGE project “economic terrorists,” over 40 supporters of the McDowell Sonoran Preserve project — including “business executives” and “community leaders” — argue in a signed letter to Scottsdale Independent that to “send this project directly to the voters is a dangerous precedent that has the potential to chill economic development throughout the city.”

Committee to work for city vote in San Tan Valley. “With a new state law making it easier to bring incorporation to a vote among San Tan Valley residents, about 30 longtime local residents have formed the San Tan Valley Right to Vote political action committee.” Chairwoman Julie Phillips: “Soon we will start gathering 10,000 signatures from voters so that they can say yes or no to incorporation.” San Tan Valley Sentinel.

Phoenix officials work to expand and improve city light rail system. “Officials are building a light rail station in east-central Phoenix with a platform for better wheelchair access, and will be improving passenger pickup times at two of the city’s most popular stations.” Cronkite News. 

Four Arizona cities among top 50 ‘most fun’ cities in US. “Metrics used to determine the [Wallethub] rankings included restaurants per capita, accessibility of bars, the cost of beer and the cost of movies, among others.” See what Arizona cities made the grade, at KTAR.

Cameron’s $5M + deals of the day –

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

Governor’s Office proposes major rewrite of water laws. “Many of the dozen proposals focus on mundane, wonky water details, but have big implications for water management in Arizona’s desert landscape…” Arizona Capitol Times takes a look at “some of the major proposed changes,” which it reports “have already rankled some lawmakers and the Central Arizona Project, setting up what could be a major battle during the 2018 legislative session.”

Government agency backs import protection for U.S. solar-panel industry. WSJ: “The 4-0 vote by the International Trade Commission could boost Trump administration efforts to take a more aggressive stance on trade enforcement.” (Related: “Electric co-ops turn on solar farm near Apache power plant,” in Arizona Daily Star.)

McCain’s 2 enemies: Trump and death. “Sen. John McCain gave new insight into his grim struggle with an aggressive form of brain cancer in an interview that aired Sunday on CBS’s 60 Minutes.” Sen. McCain also talked about his “notoriously bad relationship with President Donald Trump.” More on Lesley Stahl’s interview with Sen. McCain at AZCentral.

East Valley teen suicides in 6 weeks alarm schools. “Seven East Valley teenagers committed suicide during a six-week period earlier this summer, creating a disturbing suicide cluster and a grassroots effort to do everything possible to prevent additional deaths…” East Valley Tribune.

Mesa crowdsourcing ideas through online resident forum. “Got an idea to spark change in Mesa, but short on time to attend city council meetings or track down staff? You may want to visit Imagine Mesa — a digital forum the city is piloting to make it easier to get involved. The site launched in June [and] will remain through Oct. 31… So far, more than 400 ideas have been shared.” More about Imagine Mesa at AZCentral.

Newsmaker BONUS: Rose Law Group Reporter “Notable Videable.”WATCH the Arizona Diamondbacks clinch National League wildcard and home field with walk-off win Sunday v Florida Marlins. Also: “See how NFL teams, owners (including the Cardinals) responded to fight with Trump over players national anthem protests.”

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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September 2017