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The Dealmaker: 9/5/2017

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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



Lennar pledges $1M to Houston relief. “Lennar Corp… pledged at least $1 million to the United Way of Greater Houston Flood Relief Fund to help victims of Hurricane Harvey. The Lennar Foundation will also will match contributions dollar-for-dollar made by its 9,000 associates nationwide.” Builder http://bit.ly/2eZWpjI

Big names highlight West Valley’s big improvements, activity. Brian Mueller, Warren Fink, Christine Mackay, Sintra Hoffman were the speakers at an event hosted by the “Arizona Multihousing Association in partnership with KLCG and WESTMARC.” Topics included: “[GCU’s] impact on West Phoenix neighborhoods, the history and future of Metrocenter Mall as well as a recap of the most significant commercial real estate projects coming down the pike in the West Valley.” AZRE http://bit.ly/2x8S9ZS

Glendale might annex 1,340 acres this year. “Woolf Logistics, a 1,340-acre parcel owned by rose-farm mogul Leyton Woolf, could find itself within the city’s boundaries before the end of the year… [Economic Development Director Brian] Friedman expects the pent-up demand will explode into new industrial developments along the mostly vacant Loop 303 corridor.” Last week we mentioned a Glendale Star report on the possible annexation; this week, it’s AZCentral’s turn. –> http://bit.ly/2iYLdIC

Owners may get access to land. “In 1993, Bruce Tobias and Carol and Robert Flynn bought 27 acres of undeveloped land beyond Poco Diablo Resort [in Sedona]. Aside from a few horse trails, 24 years later it still sits vacant. That may soon change as the U.S. Forest Service is in the midst of an environmental assessment that would allow access to that land through one of three proposed alternatives.” Red Rock News. http://bit.ly/2gIMRxa

Metro Phoenix falls off top 10 list for the most affordable places to buy homes. “HSH’s affordability analysis looks at what income is needed to afford a median-priced home in big U.S. cities… A year ago, the Valley ranked no. 8 on the list. This is the first time the area hasn’t ranked in the top 10 since 2014…” AZCentral. http://bit.ly/2w3EtdT

Phoenix rents continue rising faster than national average. “Across the nation rents rose 3.0 percent, year over year,” while in Phoenix, rents were “4.9 percent above August 2016,” according to a recently released report from Apartment List. What Valley city saw the “highest rents”? Which experienced the “sharpest year-over-year hike”? North Phoenix News. http://bit.ly/2x8vYTY

Scottsdale ranks No. 1 in U.S. for rejecting apartment applicants. “Slightly more than 29 percent of people trying to rent in Scottsdale are turned down, according to  [Yardi’s RENTCafe]… Mesa and Glendale also made RENTCafe’s top 20 list for cites with the highest rental rejection rates.” See what apartment owners cited as the “top reason” for “rejecting renter applications” at AZCentral. http://bit.ly/2w3oE70

Former Arizona train depot turned Phoenix home for sale for $1M. “The train depot was built in Mayer in 1898. In 1963, architect Fred Guirey had it loaded on a truck and moved it to its current location.” (To paraphrase country music legend Johnny Cash, “I hear the house a comin’…”) KTAR reports that the house (near State Route 51 and Northern) was “featured in an episode of HGTV’s ‘You Live in What?’ that detailed how the former depot was moved 75 miles to Phoenix.” http://bit.ly/2w3ybel

Maricopa home sales. InMaricopa has an extensive list of sales data (PDF) for homes sold in the city during the month of August — from subdivisions Acacia Crossings to Villages at Ranchohttp://bit.ly/2w3x0ve

[SLIDESHOW] Check out Flagstaff’s most expensive homes currently for sale. “Take a look at the current most expensive home for sale in Flagstaff – Courtesy of NAAR MLS.” [This slideshow in Arizona Daily Sun actually features 10properties.] http://bit.ly/2f04dCe

Generations of Ahwatukee offers senior living ‘on steroids.’ That is how the Generations’ sales director refers to this “unique” retirement center at Chandler Blvd. and 50th St. AFN reports that the “complex is so unusual that even residents who don’t have an aging relative to care for might be interested in checking it out.” http://bit.ly/2vIZwXJ  

Can giant Ball Corp. to build a new plant in Goodyear. “The Broomfield, Colorado-based can giant will open a new facility in Goodyear sometime in the second quarter of 2018 and close plants in Birmingham, Alabama, Chatsworth, California, and Longview, Texas, in 2018.” Phoenix Business Journal. http://bit.ly/2gKCCIR 

Beatitudes Campus plans $10M expansion. “[The] expansion will add 33 patio homes to the Phoenix life care community [at 16th and Glendale avenues]… Orcutt/Winslow is the architect for the new project, while The Weitz Co. is handling the project’s design and construction.” PBJ. http://bit.ly/2eBS6uv

Franciscan Renewal Center’s newest addition nears completion. “After several years of planning, fundraising and construction, the Town of Paradise Valley’s newest desert jewel is near competition at the Franciscan Renewal Center. Coined, Our Lady of the Angels Church, the… newly constructed multi-million dollar, 17,050-square-foot church sits adjacent to the existing church [on Lincoln], and will increase mass attendance from 300 to more than 600, officials there say.” Paradise Valley Independent. http://bit.ly/2eCtRwn

HOUSING ‘BATTLE’ AHEAD – Controversial group home back on P&Z agenda. “Safeway House, a residential group home in Ironwood Commons, is asking for an amendment to the planned area development so the home can accept more children. Safeway House is a residential facility that currently is allowed to house six clients ages 7 to 16.” Casa Grand Dispatch reports that the facility’s operator, Tiffany Battle, “previously said none of the children is younger than 12.” http://bit.ly/2eZjCT9

Technologies’ renaissance is shaping smart cities movement. “The Smart Cities movement is the wave of innovation already starting to transform urban areas across the globe — and in the process is creating new challenges and opportunities for the commercial real estate sector… The Valley of the Sun now has a front-row seat in the smart cities movement as development of ASU’s Novus Innovation Corridor in Tempe unfolds.” By Urban Land Institute Arizona exec director, Deb Sydenham, at AzBigMedia. http://bit.ly/2wDXCF7

Apache Junction becomes inaugural partner of ASU’s ‘Project Cities.’ “Project Cities is a university-community partnership where… students — who represent multiple disciplines — research challenges chosen by [Apache Junction], then propose sustainability solutions that enable the city to achieve better environmental, economic and social balance.” AJ News. http://bit.ly/2xLOmPf

Pinal County supervisors to consider economic development plan. “The resolution would adopt the Pinal County Business Assistance Policy, which would allow for county monies to be given to businesses to start in or relocate to Pinal County.” Supervisors plan to consider the program at a meeting on Wednesday, so stay tuned! Casa Grande Dispatch. http://bit.ly/2wEN5to

Pinal County panel to update 5-year transportation plan. “The Pinal County Transportation Advisory Committee plans three meetings starting this month to come up with an updated five-year plan.” Tap to PinalCentral for “more information on the meetings or if you are interested in submitting a transportation project request for consideration.” http://bit.ly/2gJHVIH 

Pima County streamlines development process. “[A]pplicants who previously were required to receive approvals for sewer, onsite water treatment facilities and public water systems from Pima County Regional Wastewater Reclamation Department and Pima County Department of Environmental Quality before proceeding with construction, may now submit plans electronically to Pima County Development Services for review.” Real Estate Daily News. http://bit.ly/2vISbY8 

Flagstaff zoning commission mulls changes to future Hubs. What’s the problem? “‘The problem is the current code allows development of buildings that are too large in bulk and mass for existing neighborhoods,’ Flagstaff Zoning Code Manager Brian Kulina said, using The Hub, a 591-bed student apartment building built under the transect zoning code as an example.” And what remedies are being proposed? Find out in Arizona Daily Sun. http://bit.ly/2eIcoX3

Ground subsidence, that sinking feeling. “The ground is stabilizing under Tucson and Phoenix, but sinking faster than ever under many rural farming areas around the state. The phenomenon known as land subsidence is showing a two-way trend due to differences in the kinds of water supplies and water management used in varying regions, officials say.” Arizona Daily Star. http://bit.ly/2eZEAl1

The fastest-growing U.S. cities: The latest numbers: See where Valley cities rank. Forbes looks at “growth of population, employment, wages, economic output and use[s] home price growth as a proxy for wealth. Here are the 25 metropolitan areas across the country experiencing the biggest surges, plus the growth rates and projections that got them on the list.” –> http://bit.ly/2f02Svi

Cameron’s $5M + deals of the day- http://bit.ly/2w3zuKb

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


Phoenix, Tucson get middling scores in UN look at cities’ sustainability. “Phoenix and Tucson finished in the middle of the pack in a new report that ranked U.S. cities on how well they met United Nations sustainability goals, which include social and economic as well as environmental goals.” Cronkite News. http://bit.ly/2wCIvxb

Model Government: Arizona lawmakers outsource legislative ideas. “At least a handful of the 1,361 bills introduced in Arizona this year match bills introduced in other state legislatures, according to an AZCIR analysis…” And what’s the big deal about such ‘legislative plagiarism’? Critics contend that it “reveals a pay-to-pay political system.” http://bit.ly/2gKioPm

Study finds women see female lawmakers as more competent, having more integrity. “[P]olitical scientists from the University of Massachusetts, Amherst, looked at survey data about Americans’ attitudes toward their House members from 2010 through 2014.” NPR has a “rundown of what the researchers found, what it means and what it doesn’t…” http://bit.ly/2x7LOxP

[IN-DEPTH] Head of state school finance panel says tax hike needed. “The leader of a committee charged by Gov. Doug Ducey with studying school finance said the recommendations to redivide and revamp the dollars available won’t improve schools unless taxes are hiked to produce significantly more resources — and soon. And that places him at odds with the governor.” By Capitol Media Services’ Howard Fischer at PinalCentral. http://bit.ly/2wFonsW

Arpaio’s political future uncertain, pulls tricks from the past. “On August 28, the Washington Examiner launched a torrent of speculation on the former Maricopa County sheriff’s political future after proclaiming he might challenge Sen. Jeff Flake in the Republican primary for his seat.” But will Sheriff Joe’s “flirtation” with a campaign “result in a date”? The locals aren’t buying it. (RELATED: From Arizona Capitol Times: “Judge to hear Arpaio’s plea for dropping criminal conviction; and from POLITICO: “The troubling sheriffs’ movement that Joe Arpaio supports.”) http://bit.ly/2gIyg4W

Academies over club soccer? Casa Grande program leads the charge. “Grande Sports Academy was an early player in the trend of the sport’s elite moving away from U.S. club and high school programs in favor of attending academies… Jose Hernandez, a Grande graduate who played collegiately at UCLA before signing with Real Salt Lake this season”: ‘Club soccer is pretty much dying out… (Academies are) where all the big schools are looking to recruit from now. They don’t really look at high school soccer as much as they used to.’” Cronkite News. http://bit.ly/2x8ktvE

Suicide rate in Yavapai County ‘alarming,’ leads state. “[The] rate has been trending upward since 2010.” And while the “cause, or causes, of the rising suicide rate seem to be hard to pin down,” The Daily Courier is quick to point out that “[r]esources to help are available.” http://bit.ly/2gJGcTx

McCarthy Building Companies updates Mingus Union High School Read more

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

Phoenix Multifamily Market Remains Strong Despite Seasonal Uptick in VacancyRead more

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