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The Dealmaker: 11/6/2017

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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


13 projects of note from Arizona Builder Alliance members. AZRE asked ABA members to submit some… projects that are worthy of noting. The result is a range of projects for all different sectors from education to healthcare, from senior housing to hospitality and from office to mixed-use.” Click through for renderings and full details on all 13. http://bit.ly/2zzxuPT

What it means to be a 21st century developer. “Today’s developers are casting bigger nets with a broader range of expertise and personalities from diverse backgrounds and experience levels to collaborate on best practices, innovations, teaming and idea creation.” In this piece from David McGlothilin at AzBigMedia, Tim Brislin (Havard Investments), Todd Chester (WDP Partners), and Brandon Dillingham (Hines) share some of their thoughts on “new modes of thinking about the industry, what’s next and how it impacts them.” http://bit.ly/2Any6W0 

Villago to see new homes built; will be smaller than current houses. “The [Casa Grande Planning Commission] gave the go-ahead for new homes to be built in Villago… K. Hovnanian Homes plans to offer homes for sale on 142 existing lots… [Michael Cordova, an architect for K. Hovnanian] said the company… will be building the appropriate square footage that’s demanded by the market.” More on the Planning Commission’s approval, plus a new development regarding the Dreamport Village project — at Casa Grande Dispatch. http://bit.ly/2znzoSW 

You can become an investor in Phoenix-area apartments for as little as $1,000. “A veteran Valley apartment broker, a multifamily-research expert and a former Wall Street analyst teamed up to create [Neighborhood Ventures, Arizona’s first crowdfunding real-estate company].” But AZCentral real estate reporter Catherine Reagor asks “why now, with so many new rental complexes under construction”? The aforementioned multifamily-research expert supplies the answers. http://bit.ly/2zkoCut

OfferPad, loanDepot partner on Scottsdale-based home loan company.“Gilbert-based real estate technology company OfferPad has partnered with loanDepot to launch a home loan company to make it easier for customers to buy and sell a home online… With the help of loanDepot… OfferPad Home Loans will launch a bridge financing product to allow customers to qualify for and buy a new house before their existing home sells, based on an offer from OfferPad.” More on the partnership in PBJ. http://bit.ly/2izmvv5

[OPINION] Our Turn: Arizona can’t fill 10,000 good-paying construction jobs, and that hurts everyone. “Construction jobs pay above average in Arizona. Yet 10,000 are vacant, in part, because no one wants to apply for them.” But in their co-authored piece, Mike Brewer, founder and CEO of Brewer Companies; Todd Sanders, president and CEO of the Greater Phoenix Chamber of Commerce; and Republican State Sen. Steve Smith lay out ways to “fight the construction job stigma” and “develop a construction-trade pipeline” — in AZCentral. http://bit.ly/2AnBm3G

Inside construction’s battle with opioids. “The $1T industry has been hit harder than almost any other sector of the economy in a health crisis that takes nearly 100 American lives each day. But it has been largely silent… Bisnow reporters reached out to — and were rejected by — 17 construction companies and workers at 27 construction sites nationwide. Only two executives were willing to speak on the record.” AZBEX calls this report “a lengthy, but exceptionally well-written and well-researched article on one of the most important and under-reported issues currently facing the construction and skilled trades industries.” Start reading it and get the link here: http://bit.ly/2zoRuUq

Effort to limit new home building still kicking in as metro area housing shortage persists. No, not in Arizona (thankfully!), but in Colorado — Lakewood, to be exact — where a “drawn-out effort to limit new home permits… attracted more than 7,600 signatures this year, with the city concluding that enough people backed the anti-growth measure to move it along to the ballot for a vote. But since the city’s blessing in July, the Lakewood Strategic Growth Initiative has been mired in legal challenges…” (And not just because the idea is totally crazy.) The Denver Post. http://bit.ly/2lVFWTD

[VIDEO] Flake introduces bill to help cabin owners. “Last year, [Dale and Jaydeen Ortman] decided to sell because of their age and mounting health concerns. The recreational use permit that accompanies cabins like theirs, allows for the sale of the structures with Forest Service permission.” But as AzFamily reports, when the couple sought permission, they were denied, “because it was [the Forest Service’s] intention to phase out the special use permit…” Arizona Sen. Jeff Flake: “They obviously would not have purchased these structures, these cabins, had they felt that the status was going to change and they couldn’t sell them in a few years.” http://bit.ly/2zlL3j7

Best of the West awards honor West Valley economic development, education, more. “The WESTMARC 25th anniversary Best of the West Awards Dinner… honored the outstanding contributions to the image, lifestyle and economic development of the West Valley.” Find out who took home awards “in the categories of Economic Engine; Quality of Life Within the Community; and Education, and Excellence in Innovation” — at AZCentral. http://bit.ly/2iznlbd

Following bond exhaustion, Phoenix looks for new preservation funds. “Many historic preservation projects have been completed with money from the 2006 Bond Fund [‘the Luhrs tower, The Gold Spot, Tovrea Castle, the Steele Indian School Park buildings, and the Ellis-Shackelford House’].” But Downtown Devilreports that with “funds from the 2006 Bond Fund running low, and no new bond election in sight, historic preservation efforts face a financial challenge.” http://bit.ly/2zASaao

Queen Creek officials say proposed San Tan Valley incorporation map unlawful. “[Last week], the Town Council adopted a resolution that cites several problems with the STV incorporation committee’s proposed boundaries for a new city.” See what those “problems” are and how the incorporation committee, “Vote San Tan,” responded, in San Tan Valley Sentinel. http://bit.ly/2lYTRZ0

Pinal County hopes new IP park in Florence trains tech workers. “Florence will have only the fifth [Innovation Pavilion] in the United States, which will greatly enhance the reputation of the town and the county, Pinal County Economic Development Director Tim Kanavel said. “Nobody else (in Arizona) has one of these.” And Casa Grande Dispatch reports that “[e]ducation is just one part of what IP calls its ‘entrepreneurial ecosystem’ designed to grow businesses, attract talented young employees and develop municipal and corporate projects [at the mixed-use innovation campus]. http://bit.ly/2AdD9Yr

[COLUMN] The Wright Perspective: Major sports event drought to hit Phoenix. “[T]he Valley of the Sun has been one of the most attractive metro areas in the nation for hosting major sporting events. But it’s not going to see some of those events for the next few years…” PinalCentral sports editor Brian Wright takes a look at some of “drawbacks to hosting large events in metro Phoenix” and urges local officials to “[g]et to work” on “figur[ing] out how it can become an even more attractive destination.” http://bit.ly/2hLXtt1

Phoenix found to be among least-walkable cities, but is improving. “A study from George Washington University’s Center for Real Estate and Urban Analysis found that Phoenix was 29th in the nation among the 30 biggest metro areas for how ‘walkable’ the city is… The good news for Phoenix? Its ‘Fair Share Index,’ an indicator of the growth of urban walkability, was the second-highest in the country behind Detroit.” For highlights and link to the whole study, hotfoot it over to KTAR. http://bit.ly/2j7DeJD

Quotes altered in CoStar/Xceligent fight. In last week’s Dealmaker we mentioned Roland Murphy’s report in AZBEX about “the ongoing copyright and anti-competition lawsuits between CoStar Group and Xceligent… two of the biggest players in the U.S. commercial real estate sphere.” Now, Murphy tells us that after the story ran… “I thought nothing more about it. This week, however, things got weird… I got a somewhat cryptic email asking me to contact the sender about [the] story I’d written…” http://bit.ly/2iz59hQ 

Cameron’s $5M + deals of the day – http://bit.ly/2iA76ur 

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

Divorce penalty? Tax reform could shrink alimony for ex-spouses;  Rose Law Group Partner and Director of Family Law, Kaine Fisher, calls it a ‘drastic change.’ USA TODAY: “The Tax Cuts and Jobs Act… includes a provision to kill the deduction that taxpayers get for making such payments to an ex-spouse.” Kaine Fisher: “The proposed bill would end the deduction for the payors, and income inclusion for payees, for dissolutions after December 31, 2017. I hesitate to speculate about whether this bill will pass, but the possibility of such a drastic change has forced me to do some heavy-duty divorce planning for my current clients.” The report along with Kaine’s full comment here: http://bit.ly/2AbOxnB

Biggs raises concerns with House Republicans’ tax plan.”U.S. Rep. Andy Biggs (R-Ariz.) voiced his concerns with a tax plan unveiled by House Republicans last week, saying there are several provisions he would like to see modified before the plan advances.” At the top of Biggs’ list of concerns? The “removal of a tax credit for adoptive families,” which he “believes… should be ‘protected to incentivize American adoptions.’ ” Tap to KTAR for the report and link to Rep Biggs’ full statement. (Also available, this RELATED item: “Lawsuit challenges Native American adoption law, a law that could be harmful, says Rose Law Group Partner Kaine Fisher.”) http://bit.ly/2y8mYe4

More women are running for office at every level. “More than 15,000 women have contacted She Should Run — a nonpartisan organization dedicated to recruiting and training women to run for elected office — since last November. And more than 19,000 have contacted EMILY’s List, a group that helps get pro-choice Dem women get elected, since Trump’s victory. — Axios (RELATED: An Arizona Daily Sun piece via Rose Law Group Reporter: “Women take the lead for northern Arizona’s public lands.”) http://bit.ly/2yClmxs

Former attorney general crafting measure to eliminate ‘dirty money’ in campaigns. “[Former AG] Terry Goddard is crafting a ‘right to know” initiative that would guarantee in the state constitution that voters are entitled to know who is trying to sway their votes on who to elect for everything from statewide offices to school board members.” By Capitol Media Services/Howard Fischer in Arizona Capitol Times. (ALSO: “Terry Goddard: Arizona’s 40-year experiment with the death penalty has failed,” at Arizona Daily Star.http://bit.ly/2hKLWtU

24/7wallstreet.com says Arizona #12, Alaska #1 ‘Most Dangerous States In America.’ “Analysts looked at the number of violent crimes, number of murders, imprisonment rate, and the poverty rate.” But perhaps the key TAKEAWAY comes courtesy of the ADI comment section: “You know this is bull when you don’t see Calif., and the other anti-gun States listed in the top ten.” http://bit.ly/2zAEL2d

NO COOLING, NO PEACE? – Will global warming make air conditioning a legal right? “Across the country, inmates or their families are suing states [Arizona being one] for the heat conditions that they argue amount to a violation of the Eighth Amendment, which forbids cruel and unusual punishment… So far, there hasn’t been an overarching case that addresses exactly what temperature constitutes a violation or requires whole state penitentiary systems to install air conditioning. But some legal experts say global warming could soon change that.” Governing. http://bit.ly/2zBSA0n

Paul Manafort’s House — “Saturday Night Live” [VIDEO]. President Donald Trump (Alec Baldwin) checks in on Paul Manafort (Alex Moffat) and sends Melania Trump (Cecily Strong) to Asia in his place.” / Youtube. WATCH the clip of the entire cold-open in Rose Law Group Reporter. http://bit.ly/2zhI7qj

Phoenix Office Market Slows in Third Quarter Read more

First-time Buyers Stifled by Low Supply, Affordability: 2017 Buyer and Seller SurveyRead more

Phoenix Industrial Market Surging with Activity Read more

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