The Dealmaker: 1/29/2018

Dealmaker Logo

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

 

 

 

 

22-story “The Hayden” planned for Tempe. “[The] next skyscraping mixed-use is a step closer to reality following the Development Review Commission’s approval of a submittal for The Hayden — a 22-story hotel, condo and restaurant project proposed [by ‘a partnership between CFT Ventures, LLC and Macdonald Development’] for the NWC of 6th Street and College…” RENDERING along with DETAILS on “Project Components” at AZBEX. http://bit.ly/2nk7uQR

Hearing for Youngtown development delayed 60 days. <– “[To allow] officials to go through the general plan amendment process [for] a rezoning request [from Strategic Development of North America] for the property fronting 112th Avenue… between North Kolina Lane and West Cumberland Drive.” But development delayed is far from development denied. YourValley reports that, despite objections from Rancho Estates residents, the rezoning request — and the “dense housing development” itself — may already be a fait accompli. http://bit.ly/2nlLk0A

Booming real estate market in Sedona lacks homes. “A lack of homes built during the housing bubble and market downfall… has lead to the market repercussions Sedona and Cottonwood are experiencing today.” One local broker says inventory “may be at an all-time low.” However, Red Rock News reports that “with subdivisions… such as the Vineyards at Cottonwood, Mesquite Hills and more,” things “may begin to look a bit brighter.” http://bit.ly/2BE0bYQ

Housing’s State of Union: Pressing issues ahead. With “strong buyer demand, particularly among first-timers, and a growing U.S. economy urging more consumers to buy,” the “housing market outlook is looking bright… But a housing shortage is also proving to be a major obstacle to achieving homeownership, according to [‘realtor.com®’s ‘State of the Housing Union’] report.” Get highlights, including  “Red vs. Blue State Housing Trends,” plus access the full report, at REALTORMag. http://bit.ly/2BC9M22

My 10-year odyssey through America’s housing crisis. “Misery over real estate hasn’t ended — 2.5 million homes are still worth less than their mortgages. Here’s the story of one Wall Street Journal reporter’s upside-down American dream.” (Subscriber content). http://bit.ly/2Frm3cf

Fiesta Mall closing: Here’s what’s planned at former Mesa retail giant. “The once-thriving epicenter of East Valley retail has dwindled in occupants and customers for more than a decade… [Now] Fiesta mall is almost empty… But the mall won’t stay empty for long… The developer [Dimension Financial & Realty Investments] set its sights on transforming the space into a health and education campus called ‘The Campus at 60’ ” AZCentral. http://bit.ly/2DNyvGU

Glendale buys land high, sells low to Chicago White Sox and Los Angeles Dodgers. “A company formed by the two Major League Baseball teams is expected to purchase the 38-acre dirt lot along Camelback Road, at the southeast corner of their Glendale-owned spring-training ballpark.” What Glendale originally paid, how much it “stands to net,” and what the teams are looking to build, at AZCentral. http://bit.ly/2nmD1kg

Is it called Old Town Scottsdale or Downtown Scottsdale? The decision is in. “The area encompasses Scottsdale Fashion Square mall, Civic Center Park and library, the city’s spring-training ballpark, the Museum of the West and dozens of restaurants and shops. The city had long referred to the area as ‘Downtown Scottsdale,’ with ‘Old Town’ used to refer to the city’s historic core. But that’s about to change.” AZCentral. http://bit.ly/2DLe2SL

Surprise City Council applicants: Let’s ‘do something’ in downtown.“Following the death of Surprise City Councilman Jim Hayden, the council interviewed six applicants to fill his seat… The special meeting [held last week] was similar to one held last year when Councilman John Williams resigned… When asked what city leaders needed to prioritize, many of the applicants offered a common refrain: ‘Build downtown.’ ” AZCentral. http://bit.ly/2DMz17I

Payson officials draw inspiration from Gilbert. “Payson hopes to apply some of Gilbert’s ideas when it comes to helping its own often-floundering Main Street find its footing. Dreams include turning the American Gulch into a waterway with sidewalks, jogging trails, shops and restaurants along the banks.” To that end, “Payson town officials trooped through a tour” of Gilbert’s “bustling Heritage District,” with volunteers from ULI serving as their tour guides. Payson Roundup. http://bit.ly/2Gvjo2w

Minimum wage, zoning amendments highlights in Flagstaff Mayor Coral Evans’ first year. “Evans, who is more than halfway through her two-year term, is quick to list accomplishments of the entire council in the past year.” HOWEVER: As far as major policy decisions made by the council in the past year, former Mayor Jerry Nabours said he would have done exactly the opposite.” Arizona Daily Sun. http://bit.ly/2BCTead

This city has been ranked the best place to live in Arizona. It was also “ranked among the best places to live in America… beating out the likes of South Portland, Maine; Cedar Mill, Oregon and Salem, New Hampshire.” But rather than coming right out and revealing the city, here are some hints: It’s a “Phoenix-area suburb” better known as a ‘town,” and it made Money’s list “in part due to its fantastic weather — 296 clear days per year.” (That narrows it down, right?) Tap KTAR to find out where we’re talking about. http://bit.ly/2rKI1oA 

Cameron’s $5M + deals of the day – http://bit.ly/2nj4e8q



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

Pregnant and addicted. “In 2016, the last complete year for which data is available, 790 Arizonans died of an opioid overdose. But the drugs’ spread has been several times more dramatic for a small and vulnerable population that has few options for treatment: pregnant mothers and newborns. However, there is a chance that new funding tied to… reforms might be directed to help them.” Arizona Center for Investigative Reporting. http://bit.ly/2FtiS3J

Sales tax cheaters could go to prison. The “National Conference of State Legislatures estimates” that Arizona “loses [$350 million] every year” to sales tax cheaters.” SB 1386 aims to stop the bleeding by “making it a felony to purchase, install or use any ‘automated sales suppression device or service’ with the intent of cheating the state out of taxes.” And the sentence would be far from just a slap on the wrist, even for a first offense. A Capitol Media Services/Howard Fischer report in Arizona Daily Sunhttp://bit.ly/2Ejb453

Legislation would permit students to carry non-lethal weapons on campus. “Current legislation permits some types of pepper spray on campus so long as they don’t contain oleoresin capsicum, the active ingredient in most pepper sprays. HB 2172 [sponsored by Rep. Travis Grantham, R-Gilbert] seeks to change that by allowing students to carry any non-lethal weapons on campus in the name of self defense, [including] TASERs, stun guns, knives and mace…” The State Press. http://bit.ly/2FrILAG

State parties elect new officers. “On Saturday, Arizona’s two major political parties gathered for their annual meetings. While Democrats complained of the oppressive tactics of their party on a national level [POLITICO reports that ‘[s]tate and local party officials worry they’re too broke to ride the anticipated 2018 wave’], Republicans struggled against tactics on a local level.” ADI reports that “from the very start, the AZGOP’s meeting was a disaster.” http://bit.ly/2Ejb453

President George W. Bush (Will Ferrell) addresses the nation on Saturday Night Live and compares his presidency to that of President Donald Trump’s. “Donnie Q. Trump came in and suddenly I’m lookin’ pretty sweet by comparison.” WATCH the entire cold open here: http://bit.ly/2DYByey

Like The Dealmaker by Belfiore & Rose Law Group on Facebook

Greater Phoenix industrial vacancy drops to lowest level in 10 years Read more

Renaissance Square’s phase II renovation begins Read more

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

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.