The Dealmaker: 10/3/2017

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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




Maracay Homes’ Enclave at The Meadows. “Construction is nearly complete at Maracay Homes’ newest residential community, Enclave at The Meadows [on the NW corner of Dear Valley Road in Peoria]… [It] will become Maracay’s only neighborhood at The Meadows offering two-story homes, in addition to single-level options.” Further details on this “collection of 126 premium homesites” in Arizona Foothills Magazine.

Phoenix: Maintaining momentum in the desert. “Outpacing the country in job creation and population growth, the metro is appealing to multifamily developers and investors looking for opportunities in second-tier markets.” That’s the main takeaway from this MHN rundown of a recently released Yardi Matrix report. Tap through for more highlights and a link to the whole shebang.

Gilbert, Tempe within top 100 fastest growing US cities. “Gilbert ranked as the 52nd fastest growing U.S. city, and Tempe ranked as 85th fastest growing… WalletHub’s study, 2017’s Fastest-Growing Cities in America, observed the growth and decline of 515 cities of varying sizes throughout a seven-year period.” How other Valley cities fared, at PBJ.

Phoenix, Tucson in U.S. News retirement rankings. “The new rankings offer a comprehensive evaluation of the country’s… largest metropolitan areas based on how well they meet Americans’ expectations for retirement, with measures including housing affordability, healthcare and overall happiness.” Unfortunately, Builder’ssummary doesn’t clue us in on where Phoenix and Tucson land on the list — it only features the Top 10. However, the article does have a link to the “full list of the Best Places to Retire, from 1 to 100.” So click it!

Senior home equity up 2.4% from Q1 to Q2. “Those 62 and older are sitting on $6.27 trillion, with a t. But medical expenses are expected to take a toll” (also with a t). Builder.

See where the industrial real estate heart of America is. While Phoenix doesn’t hold the top spot in this list from Commercial Cafe, the addition of 43.6 million sq. ft. (138 properties) of industrial real estate space in the last 10 years is nothing to sneeze at. See where that much space lands us on the list and find out what “Empire” outperformed all other locations, in Phoenix Business Journal.(Subscriber Content.)

Addiction recovery: Too close to home in Paradise Valley? “The town government has zeroed in on this sober-living facility [‘on Fanfol Drive’] and its proprietor, a Scottsdale-based addiction treatment center called Pinnacle Peak Recovery. Paradise Valley says the sober home violates zoning regulations with its 11 occupants.” And as Phoenix New Times reports: “Neighbors aren’t shy about their complaints” either.

Sedona passes sign code. “After many hours of discussion over the last few months, the Sedona City Council voted on what the updated sign code will look like. The code allows for the placement of wayfinding signs for uses such as open houses, garage sales and open studios. These signs would be managed through a sign permitting system and could be issued over-the-counter…” Red Rock News.

Pollack: Tax plan long overdue, but not perfect. The Monday Morning Quarterback looks at President Trump’s tax proposal — a half-dozen or so “significant changes” in a plan that MMQ describes as “definitely ‘tax simplification.’” Plus these “Snapshots” –> U.S.: Real GDP, Corporate Profits, Income / Consumption / Savings, Manufacturing, Home Sales & Prices. AZ: Greater Phoenix Home Sales, Enplanements & Deplanements.

Tax overhaul and housing: The journey begins. Builder’s John McManus weighs in on the tax overhaul framework, and features links to views and assessments on the Trump/GOP tax plan, from POLITICO, The Wall Street Journal, Zillow, and NAHB.

Lot size is at a new record low. “The median lot size of a new single-family detached home sold in 2016 stands at 8,562 square feet, or just under one-fifth of an acre. This is a new record low and a small decline since 2015… While nation’s lots are getting smaller on average, the regional differences in lot sizes persist.” NAHB maps out  2016 Survey of Construction division estimates, in Eye On Housing. –>

Most unmarried homeowners are women. “Unmarried and Single Americans Week was observed from Sept. 17 to 23.” So begins this New York Times piece by Michael Kolomatsky, who goes on to inform us that not only are most unmarried homeowners woman, but also that “tracked over 30 years, single women have consistently led single men in homeownership.” 

Cameron’s $5M + deals of the day –

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

[Q&A] Here’s the ‘Story of the Year’ and the reporter who broke it.Arizona Capitol Times grabbed numerous Arizona Newspaper Association awards last week, including “Story of the Year” by Cap Times reporter Rachel Leingang. The story “focused on a cut to cash assistance payments that go to needy families in Arizona.” Senior Reporter/Writer Phil Riske interviews the Cronkite School alum about her story (and much more), in Rose Law Group Reporter.

Arizona officials remain tight-lipped about security plans for upcoming events, but vow they’re taking precautions. The following statement issued by the D-Backs to Cronkite News is representative of what other officials and organizers are saying with regard to security at other major events and venues [i.e., the Lost Lake and Rude 66 festivals; Gila River Arena]: “While we are unable to give specifics on our plan for security purposes, our fans can rest assured that we have been in touch with local, state and federal law enforcement for more than a month leading up to the postseason… And we will continue to monitor world events and adjust as necessary.”

Goldwater Institute takes hospital assessment to Arizona Supreme Court. “In new legal filings… Goldwater Institute… contends… that the levy on hospitals… was illegally enacted because it was approved only by a simple majority of the House and Senate. If the justices agree, the state could no longer collect the approximately $264 million being paid annually by the hospitals [which would ‘eliminate a program that provides health care to about 400,000’]… But [the institute maintains that] the implications of declaring the levy legal are even more drastic.” (Also from Howard Fischer at Arizona Daily Star: “Health care for more than 22,000 Arizona children in jeopardy.”)

Ballot harvesting’ goes to court today. Did the Republican-controlled Legislature act “illegally last year in making it a felony for an individual to take anyone else’s early ballot to a polling place”? The Arizona Democratic Party thinks so. Capitol Media Services’ Howard Fisher reports that the party is going to “federal court today in a bid to overturn [this] ban on ‘ballot harvesting.’” Meanwhile, through its attorney, the Arizona Republican Party will “argue that lawmakers were entitled to put procedures in place designed to prevent fraud.”

The Supreme Court’s blockbuster term. “When Justice Antonin Scalia died in February 2016, the court hit the pause button on some of the most important issues it was facing. Either because the justices knew they would be deadlocked, or because they preferred not to tackle important questions without a full bench, the court started ducking big cases… That’s about to end.” POLITICO.

Peabody says potential buyers could keep Navajo Generating Station open. “Peabody, which mines the coal to power the plant, did not identify the prospective buyers it presented to plant owner Salt River Project, but called them ‘highly qualified potential investors’ who expressed interest in ownership beyond 2019… Navajo Nation officials welcomed the possibility that the plant could be saved, along with the thousands of jobs it and the nearby Kayenta Mine provide to that part of the state.” Cronkite News.

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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October 2017