The Dealmaker: 2/14/2018

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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







Mark-Taylor gets prime state land parcel near TPC in Scottsdale with $31 million bid. “One of the last parcels inside of the Loop 101 (Pima Freeway) in North Scottsdale that will allow for a major multi-family development has been acquired by a company formed by Mark-Taylor Inc.,” BREW reports.

TALKIN’ ‘BOUT UMOM –90-unit affordable senior housing development planned in PHX. “UMOM New Day Centers wants to develop a five-acre parcel at the NEC of 7th Street and Southern… The vacant parcel, which lies within the South Mountain Village, must have a height and density zoning waiver in order for the proposed three-story [’93.4KSF’] building to be developed.” Get development and design details, plus view a rendering of the “L-shaped building,” at AZBEX.

276-unit Broadstone Rio Salado advances in Tempe. “City Council [has] approved plan amendments for Broadstone Rio Salado, [an Alliance Residential Company] development at the SEC of Rio Salado Parkway and the Loop 101… The location has been used for decades as a storage facility for [ASU].” AZBEX also notes that the site is “part of the targeted 101/202 growth area and sits on a potential expansion route for the Tempe streetcar project.” The import of that, plus design element info, along with a rendering of the “12 building” project, in AZBEX

360-unit Lyon’s Gate Apartments planned for Gilbert. With “16 residential structures” on “16 net acres,” and located “at the NWC of South Wade Drive and East Williams Field Road,” Lyon’s Gate Apartments will be the “eleventh phase in the 365-acre master-planned development” — IF the Town of Gilbert approves William Lyon Homes’ “minor amendment” request for the project. AZBEX.

Flagstaff to buy parcel on Lockett, Fanning for affordable housing.  Arizona Daily Sun reports that the “property has been used for storing materials related to road construction,” but has zoning and topography that would be agreeable to building residential units in the ‘near term.’ Former city councilman Rick Lopez, however, “advised that [officials] seek public input from those living in the area before moving ahead with the purchase, to potentially avoid [another problem like] Schultz Pass.”

Arizona could get another shot at marijuana legalization and it could help the real estate market. “Republican state lawmaker Todd Clodfelter of Tucson… has introduced a ballot referendum [no, not HCR 420, but ‘HCR 2037’] that would ask voters whether they want to legalize marijuana for recreational use.” If ultimately approved, Phoenix could see “commercial real estate space space” filling up with “marijuana-related businesses,” à la Denver. Phoenix Business Journal. fast becoming one of Arizona’s largest employers — and one professor’s picks for HQ2. “Amazon’s current… headcount puts it ahead of the likes of American Express… the Mayo Clinic… and Pinnacle West Capital Corp” [APS’ parent co.].” What about the impact of Amazon’s announcement that it was “cutting ‘several hundred’ jobs”? Find out if it will affect Arizona, and hear from an NYU prof on how the “only criteria that really matters [when it comes to HQ2] is where… the wealthiest man in the world… wants to spend more time” — in PBJ. (Subscriber Content).

GETTING THE LEAD OUT (AND OTHER STUFF, TOO) –State, Cowtown not reached agreement on contamination; rezoning case postponed. “A case to rezone Cowtown in North Peoria has been postponed because an agreement has not been reached between the shooting facility and the Arizona State Land Department, which says their surrounding land has been contaminated with lead from discharged ammunition… Aside from [ammo], the department also says other trespasses onto state trust land have occurred, including roads, fences and shooting targets.”YourValley.

AZ City gets first Habitat for Humanity home. “Christopher Sharp and his son, Matthew… live in an apartment that is infested with roaches, bed bugs, mosquitoes and mites. Along with that, law enforcement is called out to the apartment complex for drug-related calls.” Enter Habitat, which is building a new home for the Sharps “at Mission and Manaco.” And Arizona City Independentreports that the Sharp’s isn’t the “only home” Habitat “hopes to build” in the area. 

Surprise council picks new member: Nancy Hayden appointed to District 2 seat amid concerns. “Surprise City Council voted… to appoint Nancy Hayden to fill the vacant District 2 seat for the rest of the year. But some residents and board members questioned the panel’s motives and methods in selecting Ms. Hayden to take over the seat left vacant when her husband, Councilman Jim Hayden, died in December.”YourValley has the story.

Magazine names Bisbee as one of America’s best small towns. “It has made lists ranking it as one of the best places to visit, the best hippie town in the state, the best historic town nationwide…” Now, Bisbee has “made Architectural Digest’s cut for one of the top 25 small towns in the country… for its one-of-a-kind architecture” and “artistic spirit.” KTAR.

Arizona’s birthday: From climate to fry bread, 125 reasons to love Arizona. “Arizona became a state on February 14, 1912… This list was originally published May 18, 2015, to celebrate 125 years of The Arizona Republic.” And now it’s back, “to help mark Arizona’s 106th birthday!” Oh, and BISBEE made this list as well

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

A tougher tack on parents with drug issues cuts against Arizona’s family-first focus; ‘problematic’ from a legal standpoint, says Kaine Fisher, Rose Law Group Partner, Director of Family Law Department. “[Recently], state policies have pivoted to a more-compassionate approach toward people with addiction issues. But a proposal at the state Legislature… would cut off parental rights more quickly, deny services that might help parents address their addiction… and open a quicker path to adoption.” Commenting on this “hardline approach,” Kaine Fisher says, in part, that while he “can certainly understand and appreciate the rationale for the bill,” it is “problematic from a legal and philosophical standpoint to impose ‘drop-dead’ timeframes when it pertains to deciding whether to sever or restrict a parent’s constitutional right to raise their children.” The rest of Kaine’s comment, along with the report from AZCentral, here:

Arizona Supreme Court to decide whether ‘Dreamers’ get in-state tuition.“In a brief order Tuesday, the justices said they want to hear arguments from both the Maricopa County Community College District which has granted in-state tuition [to ‘students in the Deferred Action for Childhood Arrivals program] and [from] Attorney General Mark Brnovich who contends [‘Dreamers’] are not [‘eligible to pay the same reduced tuition as other Arizona residents].” A Capitol Media Services/Howard Fischer report in Arizona Capitol Times.

House passes measure to keep cities from banning ‘dark money.’ “State lawmakers voted Tuesday to… prohibit local government from requiring organizations declared to be tax-exempt by the [IRS] from registering as political action committees, even if they are putting money into races. More to the point, it would preclude any requirement that these so-called ‘dark money’ groups identify donors.” And Howard Fisher reports in Arizona Capitol Times that these aren’t the only restrictions that HB 2153 would place on local governments. –>

Fake news and bots may be worrisome, but their political power is overblown. “How easy is it to change people’s votes in an election? The answer… is that most forms of political persuasion seem to have little effect at all. This conclusion may sound jarring at a time when people are concerned about the effects of [fake news].” But as this New York Times’ regular feature “TheUpshot” notes: “It’s very hard to change people’s minds, especially when so many are already committed partisans.”

ASU joins Janet Napolitano’s call for low-carbon future.The group, called the University Climate Change Coalition, or UC3, includes distinguished universities from the United States, Canada and Mexico • UC3 was formed at the request of the University of California system and its president, Janet Napolitano • Arizona State University is part of this new coalition that will help communities achieve their climate goals and accelerate the transition to a low-carbon future. Information from ASU.

These columns might make you dumb. Having come across some info about how “exposure to nonstop negativity actually impairs brain function,” Senior Reporter/Writer Phil Riske has a few helpful tips for any reader who may feel in danger of breaking the ol’ noodle from an overdose of grumpy bombs — in Rose Law Group Reporter.

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

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February 2018