The Dealmaker: 10/26/2017

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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


Robson Ranch expansion plans approved. “[The Eloy City Council] approved a 2-year extension to B&R Engineering, who the city hired to work in Robson Ranch and help expand it northwards towards Selma Highway [which will ‘be renamed to Robson Boulevard.. when Robson Ranch is completely finished’].” Eloy Enterprisereports that it “will help [with the Selma Road improvement] if voters approve the Pinal County Regional Plan as part of the propositions [416 and 417].”

Alliance Bank of Arizona finances $255M in East Valley development.Actually, MORE than “$255 million in loans over the last 18 months, including financing 1.74 million square feet of ground-up commercial projects and over 434 acres of single-family residential projects.” Check out the “key East Valley projects financed by [ABA] since 2016,” at AZRE

Malls pump more than $8 billion into renovations to entice shoppers.AZRE has highlights from “JLL’s new report, A New Mall Rises, [which] explores 90 super regional and regional malls tracked by the firm that are currently undergoing or have gone through a significant renovation during that time period.” –>

Construction industry looks for new generation of workers but is anyone listening? And by “anyone,” PBJ’s Mike Sunnucks means “younger workers and students” who’ve turned a deaf ear (or ‘hearing-challenged ear’ for the PC crowd) to any mention of a career in construction. Phoenix Chamber of Commerce President Todd Sanders, Brewer Cos. CEO Mike Brewer, and Meritage Homes exec Bob Dalton all weigh in on the “worker shortage” and what can be done to “get more young people interested in going into the trades.”

Multi-family development on Fifth Ave approved despite neighbor’s concerns. “Plans for a proposed four-unit two-story building on N. Fifth Avenue were approved at a Historic Preservation Hearing on Tuesday, but it is unlikely workwill begin this year.” Downtown Devil reports that “the owner of two historic buildings flanking the property, took issue with the new building’s proposed layout.”

Rural residents of San Tan Valley wary of incorporation. “[One of those rural residents] describes his community as full of big acres of double track trails, dirt roads and farm fields full of animals where it is not uncommon to see someone going for a ride on a horse — and he likes it that way.” What other residents are saying along with the Vote San Tan response; plus, how A.R.S. §9-101 factors in torural area incorporation, in San Tan Valley Sentinel.

Boo! Arizona residents may live in haunted house without knowing it.“You’ve found the perfect home, in a perfect neighborhood, and you’re all set to sign the papers. But does your buyer have to tell you if anything spooky or bad happened there?” See what Arizona law says about it at KTAR.

Frank Gehry’s innovative approach to an affordable housing solution.Iconic architect Frank Gehry. A 20-something-year-old engineering student. Homelessness. Trout once again inhabiting the Los Angeles River. All figure into this piece by Builder’s John McManus, whose overarching point is that “Sometimes, not knowing something’s impossible may be an advantage.” In HiveForHousing.

FOR NOWAKOWSKI, NO CRIME-SKI – AG: Phoenix Councilman Michael Nowakowski did not break law with Fillmore land deal. What prompted an AG investigation in the first place? “Nowakowski met with a private development group to discuss its bid for [7.6 acres on Fillmore Street between Fourth and Sixth avenues]… in 2015. Later, Nowakowski’s private-sector employer, the Cesar Chavez Foundation, submitted a development proposal for the same land and ultimately won the bid with another co-bidder.” KEY QUOTE from the AG memo: “Investigators are comfortable… with the decision not to recommend criminal charges…” Much more in AZCentral.

Navajo, other tribes call land-use bill a step in the right direction. “Tribal leaders backed a House bill Wednesday that would give tribes the ability to control more of their land, instead of having to get federal approval for virtually any use… [But they also expressed] concern… about ambiguities in the thin, three-page [American Indian Empowerment Act] that ‘could allow state or local governments to implement property taxes on tribal land,’ among other issues.” Cronkite News.

Downtown Phoenix’s light-rail hub: 3 new stations, closure of block of Central Avenue. “The three stations will be around CityScape, and the portion of the roadway that will [permanently] close [Central between Washington and Jefferson] goes through the middle of the development and under a pedestrian bridge.” And AZCentral reports that there are “Lingering concerns” about the “hub’s impact on CityScape.”

Infrastructure: Arizona among states that are falling apart, says ’24/7 Wall St.’ You may recall a KTAR report on this very same study, which we brought to your attention a month or so ago, and which ranked us 15th among “states with most hazardous infrastructure.” Unfortunately, we haven’t budged from that slot. In fact, this report from AZCentral goes into much more detail than did KTAR, on how bad off we really are when it comes to infrastructure. Enjoy!

Globe-Miami: Water challenges in the local areas. “For years the water supply and infrastructures along with the current demands have been a challenge in the ‘Cobre Valley’ area.” And water contamination in the Miami-Globe due to mining and the spraying of chemicals haven’t helped. Silver Belt takes a look some of the work being done to overcome these challenges.

The boomtown that shouldn’t exist. “Cape Coral, Florida, was built on total lies. One big storm could wipe it off the map. Oh, and it’s also the fastest-growing city in the United States.” POLITICO. 

Cameron’s $5M + deals of the day –

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

Camelot laid to rest? Senior Reporter/Writer Phil Riske dusts off a column he wrote in 2013, as a way of explaining the intense interest in today’s release of “3,000 top-secret files related to the murder of President John J. Kennedy.” Read Phil’s piece in Rose Law Group Reporter, where you can also access this related item from POLITICO, “How to read the JFK Assassination Files,” which lays out “some tips for making sense of all the code names, redactions and confusing jargon.”

Ducey staying out of Trump-Flake spat. While Sen. Jeff Flake vows to “keep speaking out” about Trump — a promise Flake makes good on, and then some, in this report — Gov. Doug Ducey “steered a wide path around the political smashup when asked about it Tuesday.” Capitol Media Services’ Howard Fischer has the rundown in PinalCentral.

U.S. Rep. David Schweikert floats run for Arizona governor in 2022.“[A]fter dismissing the possibility that he would run for Sen. Jeff Flake’s seat in 2018… [a] spokesman for Schweikert told reporters on Wednesday that the Arizona representative may run for governor in 2022 in an effort to unseat Gov. Doug Ducey.” And, “personality-wise,” Schweikert himself thinks its a “fit.” KTAR.

Investigator cites no accountability for Secretary of State elections blunder, but no criminal offenses. “An investigation [by former federal prosecutor Michael Morrissey] has found the Arizona Secretary of State’s Office broke state law when it failed to mail publicity pamphlets on deadline to hundreds of thousands of voters during a 2016 special election, but did not act criminally.”Arizona Center for Investigative Reporting has more on the blunder plus major findings from the investigation. (A tap will also get you this RELATED item from ADI: “Arizona voter registration continues to increase since July report.”)

Tempe considers ballot measure to curb ‘dark money’ influence in elections. “Even if voters approve the measure, it would need to pass muster with the state. Arizona leaders have so far maintained that political non-profits, often referred to as ‘dark money’ because their donors can remain anonymous, do not have to reveal their funding sources in most cases.” AZCentral reports, however, that “[s]ome question whether Tempe is setting itself up for a lawsuit…”

IS THERE A NURSE PRACTITIONER IN THE HOUSE!?! – The doctor of the future. “Medicine increasingly looks like team sport, with duties and jobs that used to fall to a family doctor now executed by a team, from [physician assistants or nurse practitioners] who sit down with patients to discuss diet and exercise to clinical pharmacists who monitor a patient’s medication. The doctor, in this model, is a kind of quarterback, overseeing care plans, stepping in mostly for the toughest cases and most difficult decisions.” POLITICO examines what it calls “ one of the biggest shifts in the American health care workforce.”

Phoenix Industrial Market Surging with Activity Read more

Phoenix retail vacancy lowest in eight years; home furnishing store expansions signal housing market Read more

Optima Kierland condominium tower more than 75% sold Read more

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October 2017