The Dealmaker: 1/24/2018

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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





Former Paradise Valley councilmember Mary Hamway to head Elder Care Concierge Program. “Rose Law Group has selected former PV councilwoman Mary Hamway to lead… its growing Elder Care Concierge Program… The goal [of the program] is to remove as much of the worry and stress associated with aging as possible.” Ms. Hamway explains: “ ‘Trying to navigate all these different options and find the best care for your loved one… is a difficult process… The Elder Care Concierge Program will provide just that for the client…’ Ms. Hamway is paired with Catherine Bianchi, a manager educated as a doctor, to evaluate and provide the best advice possible to the clients.” Much more about Mary Hamway and the program in Paradise Valley Independent

OLD SCHOOL – Senior facility near ASU’s Tempe campus to break ground next month. “Mirabella at ASU, a ‘continuing care retirement community’… will be located at the corner of Mill Avenue and University…” Developed by Pacific Retirement Services and “geared to older residents who want to stay close to the university and remain engaged in a younger environment,” the “500,000-square-foot facility is expected to include 252 apartments and amenities such as a fitness and aquatic center, an auditorium and theater,” as well as a room specially built for doing silver-haired keg stands. (KIDDING on that last one). More at KTAR.

Elderly and disabled find scarce housing options in Pinal County. “Many projects were built … under the Low Income Housing Tax Credit program during Pinal County’s development boom 20 years ago.” But now, Casa Grande Dispatchreports that “there are 280 units… that have exited or will exit” the program and that their rents “could go up to market rate.” It’s an affordable-housing situation that the United Way of Pinal County has called “crisis.”

How much does a home cost in bitcoin? Fortune recently sought to find out… Using the bitcoin price as of Jan. 15, a median home [$248,000, nationally] would cost 17.65 bitcoins.” Head to REALTORMag to find out how many bitcoins buyers would need to shell out for a median-priced place in Phoenix and other markets.

3 reasons home sales may lose momentum. “Freddie Mac economists point out some of the biggest risks to the economy and housing markets: declining affordability, obstacles to millennial homeownership, and the possibility of another recession.” REALTORMag.

State-of-the-art logistics center coming to Tolleson. “A new 329,000-square-foot Class A industrial center on the [S.W.] corner of 99th Avenue and Van Buren… is set to begin construction [on spec] in the next few months. Trammell Crow… along with an institutional investor, purchased the 22.2-acre site for approximately $1.9 million.” Further details and rendering in West Valley View.

Rio Nuevo gives OK for new 20-story office building in downtown Tucson. Missouri developer JE Dunn Construction “has unveiled its plans to build a 20-story, 250,000-square-foot office complex.” Arizona Daily Star reports that the project, “dubbed 75 Broadway” and located “on Broadway between Scott and 6th avenues” will be “one of the tallest buildings in the city.”

South Mountain Freeway interchange still a possibility at 32nd Street. “[T]he absence of an interchange at 32nd Street continues to nag some local officials. The street was bypassed… because citizens opposed it. But then former state Rep. Bob Robson early last year called attention to an alarming fact: In the event of a major disaster, students at several nearby schools would have only one way out of the area…” AFN.

FOR WHOM THE BELL ROAD TOLLS? – Are tolls the only option for infra. funding? “A Jan. 18 National Public Radio report stated more and more states are looking at tolls as a means to shore up their funding for roads and other infrastructure projects. States that already have tollways in place are raising or considering raising their rates.” Why have states “taken matters in their own hands”? AZBEX’s Roland Murphy examines.

Scottsdale streamlines Planning and Development Services website. “The site incorporates more videos, step-by-step explanation graphics and is organized so visitors can quickly find the information they need.” Read more about the revamp and/or check out the site by clicking on the “Planning and Development Services” link — at Scottsdale Independent.

Maricopa Unified School District takes 1st, 2nd in Arizona regional of Future City. “A team of students from Maricopa Wells Middle School, who named their city Innovacia, won the Arizona Regional Future City competition.” The prize? An “all-expenses paid trip to Washington, D.C., to compete in the Nationals….” (And, as everyone knows, “Innovicia” is Spanish for: “We’re gonna kick buttowski in D.C.!”) Meanwhile, InMaricopa also reports that “a team of students from Desert Wind Middle School, who named their city Juntos, finished in second place.”

Cameron’s $5M + deals of the day –

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


Photo of baby’s butt child porno? No, and ‘unbelievable, says Rose Law Group Partner and Director of Family Law, Kaine Fisher. “[A] three-judge panel of the 9th Circuit Court of Appeals said there is evidence that two Arizona child welfare workers violated the rights of a couple by removing their three children from their home simply because they had taken naked photos of the girls.” Capitol Media Services’ Howard Fischer reports, in Arizona Capitol Times. And here’s Kaine Fisher with a dose of righteous indignation and incredulity over the case and all the “hypersensitive scrutiny focused on parenting decisions these days”: “If you attempt to parent while walking through the grocery you can be certain that someone is watching and waiting for you to make one mistake. Next thing you know your kids are placed in a foster home. Unbelievable.” More here:

Hearing focuses on doctors’ roles in opioid abuse. “[On Tuesday, pain management specialist] William Thompson told members of the House Health Committee a key reason there is a crisis is because of policies set by government and others in the first place.” Thompson calls the legislation “not well thought out.” By Howard Fischer in Arizona Capitol Times.

Who should have final say for replacing U.S. senators? “The proposal by Rep. Travis Grantham, R-Gilbert, would leave intact the general election process where voters get the last word. But Grantham’s HCR 2022 would limit their choices in November to only those candidates that state legislators from each major party determine are worthy.” And what about candidates from minor parties? Grantham’s proposal leaves them all out in the cold. Rose Law Group Reporter.

Libertarian chairman running in nonpartisan race for Phoenix mayor. “Nicholas Sarwark, chairman of the National Libertarian Party… join[s] a growing pool of candidates competing to succeed Mayor Greg Stanton. The Phoenix native spent nearly 20 years in Washington, D.C. and Denver where he studied law and practiced as a public defender.” More on Sarwark and “his decision to run” at AZCentral. 

Perennial candidate Wendy Rogers enters CD1 GOP primary. “U.S. Rep. Tom O’Halleran will officially have another challenger in his fight to keep Arizona’s 1st Congressional District blue. Republican Wendy Rogers announced her campaign for U.S. House of Representatives on Tuesday, with a Twitter video that outlined her priorities for office.” Rogers, a “retired Air Force officer” who is “no stranger to campaigning… will join local farmer Tiffany Shedd and state Sen. Steve Smith of Maricopa in seeking the Republican nomination.” WATCH the Twit-vid announcement at KTAR.

Renaissance Square’s phase II renovation begins Read more

CoreLogic Reports Early-Stage Mortgage Delinquencies Increased Following Active Hurricane Season Read more

CoreLogic reports fourth consecutive month with more than 6 percent year-over-year home price growth in November Read more

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