The Dealmaker: 9/26/2017

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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


Fulton Homes’ ‘Fly the Flag’ campaign to support the Wounded Warriors Project. (Disclosure: Rose Law Group represents Fulton Homes.) “The Tempe-based homebuilder has again partnered with 100.7 KSLX for the Fly the Flag for Veteran’s Day campaign. Through Nov. 11 — Veteran’s Day — anyone who visits Fulton Homes’ new communities and tours a new model home can make a donation of $10 and receive a full-size American flag kit. Fulton Homes will then match any $10 donation offered, up to a maximum of $25,000… One-hundred percent of donations will go to the Wounded Warriors Project.” Queen Creek Independent.

Shea completes Gilbert purchase. “Shea Homes… completed their purchase of the ±79 Acre Recker Pointe site located at the [SW] corner of Ray Rd & Recker Rd in Gilbert… The cash purchase price was $16,000,000 | $202,531/Acre | $41,775/Lot.” Further deal and project details in Rose Law Group Reporter

Where college students should buy a condo. (Or perhaps a more accurate headline: “Where college students’ parents should buy a condo.”) “Redfin’s research team recently compared the monthly dorm rate at 195 public colleges with the median monthly mortgage payment for a condo in each university’s city. They found that for students at 47 colleges, it was more cost-effective to buy a condo.” One school in ARIZONA tops the list! See which one at REALTORMag.

Home builder lures Millennials with offer to help pay their student loans. “Eagle Home Mortgage plans to introduce on Tuesday a program under which it will pay off a significant chunk of the student loan of a borrower who purchases a home from Miami-based Lennar.” How the program works and why consumer advocates worry that it “sounds too good to be true,” in The Wall Street Journal.

Ripe for disruption? You bet! “Increasingly, U.S.-based housing and construction sector leaders hop on the plane… to see how their business is conducted in The Netherlands, Scandinavia, Switzerland, Germany, Ireland, Japan, etc. And they’re coming back [ready to shake things up!] with some different ideas about how they’re going to make money in home building in the United States.” Builder.

Houston Housing Authority development charges tenants rent despite flooding. “Half a dozen residents of Clayton Homes, a subsidized development owned by the Houston Housing Authority, were charged September’s rent even though their homes were uninhabitable due to Hurricane Harvey.” Tap to Builder for the link to the Houston Chronicle report.

Phoenix-area mayors ready to join forces to land Amazon headquarters. In separate interviews with KTAR 92.3 FM’s Arizona’s Morning News, Mesa Mayor John Giles and Chandler Mayor Jay Tibshraeny said they “are ready to help each other out to land the deal for the state.” Mayor Giles: “This is bigger than any one city could handle. If this is actually going to happen, there’s going to be a lot of financial support that’s going to have to come from the state and from the region…” Read the report and check out the mayors’ interviews here:

Volkswagen spending $2M to bring electric-vehicle charging stations to Phoenix. “Electrify America [a VW subsidiary] plans to have as many as 15 charging stations across the Valley.” PBJ reports that “JLL has been selected to lead the siteprocess… [and] is making these deals for retail and mixed-use properties in ‘extremely specific locations.’” 

[EDITORIAL] Our View: Desert Discovery Center in Scottsdale needs a public vote. “Scottsdale residents have the greatest stake in Desert EGDE, the scaled-back version of an interpretive center. They deserve a vote on it.” From The Arizona Republic editorial board.

Residents share hopes, concerns over Tempe streetcar project. “About 30 attended the meeting at the Tempe Transportation Center, many of them studying the planned artwork [for the 14] stops and asking questions about the three-year [construction] schedule.” East Valley Tribune reports that one resident expressed worries after finding out that there are plans for a “charging station… in front of [his] house.” As far as “streetcars” go, though, a “charging station” probably isn’t half as disconcerting as some crazed drunk standing out in front your place in the middle of the night screaming “STELLA!” (Particularly if Stella happens to be the name of your wife.)

Vintage Casa Grande sign project competes nationally for funding.“Preservationists and proponents of the vintage sign park… aim to save, restore and display several vintage and neon signs that once graced businesses throughout the area.” Casa Grande Dispatch reports that the plan “is one of 25 projects vying in a national competition with a $150,000 prize payout — and area residents can help the project win.” Tap through for details and a visual of how the proposed park might look.

Feds buy land to open up access to 2 Arizona forest areas. [The deal by the Interior Department] opens up two parcels of public land, one in the Coronado National Forest and one northwest of Safford [a total of  32,600 acres], that had been inaccessible because they were surrounded by private property. It was pulled off through a collaboration between state, federal and private organizations.” Cronkite News reports that it’s “a move that drew praise from wilderness advocates and hunters alike.” –> 

Cameron’s $5M + deals of the day – 

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

FBI arrests 4 NCAA basketball coaches and Adidas exec on fraud charges. University of Arizona coach among those bustedFortune: “Filings show that… defendants allegedly made payments amounting to $100,000 to a player’s family to convince the athlete to join the team at a ‘public research university’ in Kentucky and $150,000 to another family so their child would play for an Adidas-sponsored basketball team at a private university in Florida.” Fortune also reports that a University of Arizona coach was among those busted. In related news: Arizona Wildcats Basketball: Assistant coach Book Richardson arrested in corruptionprobe.

From clenching a fist to taking a knee, sports, social issues on perpetualcollision course. “As Phoenix Suns players and staff spoke about the upcoming NBA season at the team’s official media day, it was impossible to escape the prevailing social justice issues and focus solely on basketball.” Suns coach Earl Watson and forward Jared Dudley are among those who share their thoughts with Cronkite News on the recent Trump/NFL controversy. 

Arizona poverty remains among highest in nation, despite recent gains.“[A] rate of 16.4 percent was well above the national rate of 14 percent [in 2016] according to the Census’ American Community Survey. The numbers did not come as a surprise to advocates and economists, who said the state is still struggling to climb out of the recession and is hindered by a poor education system and low-wage jobs.” Cronkite News.

Violent crime in Arizona rose 13% in 2016, while property crime declined. According to the latest Unified Crime Report data from the FBI, that figure is the “highest violent crime rate the city has seen in nearly a decade.” Meanwhile, KTAR also reports that “the property crime rate was 2,978 property crimes per 100,000 residents, the lowest rate since 1961…”

To tax or not to tax: That is the question [VIDEO]. “The Legislature in June created a special committee to study implications associated with the taxation of digital goods and services… Representative of the Arizona Tax Research Association, Arizona Department of Revenue and League of Arizona Cities and Towns testified in its first meeting.” So heat up a bucket of popcorn, grab a cold drink, and settle in for this two-hour-plus talkathon brought to by Arizona Capitol Television (ACTV), and now showing in Rose Law Group Reporter.

Newsmaker BONUS: Rose Law Group Reporter Joke of the Year: A slice of the pie. Senior Reporter/Writer Phil Riske passes along a memorable joke that he “heard years ago,” one which “keeps returning to make [him] laugh again.” In Rose Law Group Reporter.

Final 21 platted and engineered lots at La Canada Ridge in Oro Valley sell for $2.3 million Read more

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

McCarthy Building Companies updates Mingus Union High School Read more

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September 2017