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Arizona’s most iconic developer, DMB, is moving out of the suburbs. DMB Associates, the developer of “DC Ranch in Scottsdale, Verrado in Buckeye and Eastmark in Mesa, is now shifting gears. It is creating a new company [DMB Development] to focus on infill projects in the Valley and California, including its first apartment complex on a prime piece of land along light rail in Tempe.” Much more on DMB Associates and the new firm (DMB Associates prez Brent Herrington refers to as “DMB 2.0”) at AZCentral.http://bit.ly/2BdGnvb
Builder unveils green homes in Mesa. But we’re pretty sure there’ll be many other FUN colors to choose from, too! (NOTE: We’d like to apologize for such silly humor. If it’s any consolation, the Dealmaker staffer who pushed the wrong button allowing such a dumb joke to go out, has already been reassigned. Moving on…) The Vista at Granite Crossing from Maracay Homes is a ’37-home enclave” in east Mesa at 101st Place and Brown. According to a press release: “Every home will be registered with the U.S. Green Building Council… with the goal of earning the LEED® Certified designation.”Lots more on The Vista at Granite Crossing in Rose Law Group Reporter. http://bit.ly/2EXLe5P
Richmond American unveils Tucson MPC. Quite a bit of “unveiling” turning up in today’s Dealmaker! This item features Richmond American Homes announcement on “the opening of La Estancia, a new, master-planned community in Tucson boasting a… range of ranch and two-story homes.” Builder has the details, including the lowdown on the upcoming “Grand Opening celebration” for “model home tours.” (Did somebody mention FREE FOOD?) http://bit.ly/2EWdqG4
Zillow: Home inventory to shrink 10% in 2018. According to the December Zillow® Real Estate Market Report, “[f]or-sale inventory is stuck at crisis levels in some of the nation’s hottest housing markets where home values are appreciating fastest.” For a look at Zillow’s Home Value Index and YOY Inventory Changes in the nations’ top markets, including Phoenix, tap toBuilder. http://bit.ly/2mVMTT0
Report: Homes are getting even less affordable. The National Association of REALTORS® reports that “all four regions saw a decrease in affordability compared to a year ago.” For the full breakdown of all the price spikes and affordability dips in cities across the country — including metro Phoenix — head to REALTORMag. http://bit.ly/2EXMypp
Most expensive home sales in Phoenix. Arizona Foothills Magazine presents “the Valley’s top home sales from the past week (1.8.18 – 1.14.18),” during which combined sales totaled “over $29 million.” That’s SPIKE of $7 million from the previous week! Or as the National Association of REALTORS® might say, “See! We Told Ya So!” http://bit.ly/2FUa8Vb
In 2018, it’s about how much more can be done with how much less. More to the point: “As winning builders need to create bigger deltas of value, here’s a critical resource stream that has no constraint, rising cost, or unpredictability: Purpose.” John McManus elaborates, in Builder. http://bit.ly/2Bewlda
Phoenix industrial absorption hits all-time high. <– That is just ONE of the highlights from the JLL Q4 Phoenix Industrial Report. Here are the OTHERS: • This marks the fourth consecutive year of annual net absorption totaling 6-million square feet or more, not seen since 2004-2007 • Total vacancy fell to 7.6 percent, the lowest rate in 10 years • Asking rates increased 4.2 percent year-over-year, with no signs of growth slowing in the near future. Get the non-bullet-pointed version of the JLL report at AZRE. http://bit.ly/2DkGxCw
Mesa lands data center in Elliot Road Tech Corridor. East Vally Tribunereports that Virginia-based global-tech company EdgeConneX “plans to build a data center on… a long-dormant parcel of land once slated to become a regional shopping and employment center… through an entity called Loop 202 & Elliot Road LLC. (“What a coincidence — that this very entity would be named Loop 202 & Elliot Road — because that is EXACTLY where the parcel is located!” said one staffer here at Dealmaker HQ, who can often be heard bragging that his main role model in life is Lloyd Christmas from Dumb and Dumber.) http://bit.ly/2DR7HSK
Local leaders discuss the rise of Mesa’s innovation district. “Mesa Arts Center, Benedictine University and the extension of the Metro light rail down Main Street are part of the city’s efforts to revitalize the downtown area and form an innovation district similar to the successful transformation of downtown Phoenix. City, education and business leaders joined together Thursday morning at the Mesa Arts Center to talk about the [it].” Coverage of the event in this subscriber-content piece at PBJ. http://bit.ly/2DwBp1B
Cancellation of light rail leaves $162 million Glendale transportation coffers. “A month after councilmembers ended the city’s participation in bringing light rail to downtown Glendale, staff presented the report of increased funds that adds hundreds of millions of dollars to the city’s transportation plan.” Now, the only outstanding question for the City of Glendale is: What do we spend it on? The Glendale Star. http://bit.ly/2DQqaim
Mohave County officials discuss water diversion. “[Central Arizona Project] is currently in the due diligence phase… with a pair of New York City hedge fund firms to purchase… farmland with approximately 14,000 acre feet of diversion water rights… If the sale proceeds, it would send 5,500 acre feet of Colorado River water to [‘towns in Maricopa, Pima and Pinal counties’] annually.” On Wednesday, county officials met with CAP “over the details of the agency’s latest plan.” KingmanDaily Miner. http://bit.ly/2mYmbcf
Virginia Korte plans to pursue Scottsdale mayor’s seat. “Scottsdale City Councilwoman Virginia Korte has announced her intent to form a exploratory committee for the mayor’s seat in 2020. In a Jan. 18 press release, Ms. Korte says it’s time for her to make the ‘ultimate commitment.’ ” Read the complete statement in Scottsdale Independent. http://bit.ly/2Bf381q
Turley appointed vice mayor of Queen Creek. “Councilwoman Emilena Turley was appointed vice mayor of the town of Queen Creek during the Jan. 17 meeting of the Queen Creek Town Council… Ms. Turley was elected to the town council in November 2014. She serves on the town’s budget committee and transportation advisory committee.” More on Ms. Turley’s appointment in Queen Creek Independent. http://bit.ly/2BeMBL4
Queen Creek continues to be good place to live, residents say in survey.Try “98 percent” saying that! — “and 97 percent rating the quality of life as excellent or good on the 2017 Citizen Survey.” And while ‘[t]raffic and road congestion were cited as the areas with the greatest need for improvement,” Queen Creek Independent reports that the CAVALRY IS ON THE WAY! — “with nine of the 36 roadway projects identified in the 10-year capital improvement plan in construction or completed.”
http://bit.ly/2mQzjz6
The most livable small cities in the U.S. “For this study, [SmartAsset] considered small cities to be those with populations between 65,000 and 99,000.” The rankings were based on 11 metrics, including “median-home-value to median income ratio,” “unemployment rate,” “concentration of entertainment establishments,” and the frequency with which visitors stop in and ask, “Are you sure this one-horse town isn’t just a rest area?” KIDDING on that last one, but NOT about the small city of Casas Adobes, Ariz. landing among the top 25! Check it out in Builder. http://bit.ly/2DsYuTB
