The Dealmaker: 2/23/2018

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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




Rose Law Group names Troy Roberts as Chairman of Cybersecurity, Privacy and Emerging Technologies. Troy Roberts brings expertise in drone and privacy laws to the department, and his hiring comes as new drone bills hit the State Capital for debate. Here is some of what Rose Law Group Founder and President Jordan Rose has to say on bringing Troy aboard: “Troy’s experience and his extensive list of academic and legal publications on drone law and privacy is a huge asset to the firm and our clients.” Much more on Troy in Rose Law Group Reporter.

New housing developments to add nearly 300 homes to Glendale. Here are the companies along with the number of homes each is putting up: Hillstone Homes, 53 • Garrett Walker Homes, 142 • LMK Investments LLC, 53 • Los Olivos Office Partners LLC, 51. Development name, location, and an overview of each in TheGlendale Star.  

Construction begins on The Westin Tempe. “Developed by Las Vegas-based CAI Investments, the 18-story [290-room] Westin Tempe [on Seventh between Mill and Myrtle] will be a full-service business hotel.” Tap through for further details, including why AZRE says the hotel is “poised to set a new standard for well-being in the region.”

Builder putting up new homes in Arizona City. The builder is Morgan Taylor Homes, the “first company” to build new homes in Arizona City “since the recession.” View an image of one of these new homes (‘located at 11404 W. Loma Vista Drive”) — and learn a little more about what Steve Cross of Morgan Taylor Homes says are homes that “provide quality affordable alternative to the big builders” — at Arizona City Independent.

First Place AZ will help develop more housing for adults with autism. “[T]he Foundation for Senior Living [‘in collaboration with First Place AZ’] will work with triARC Architecture & Design to develop 19 affordable, intergenerational units and six units for young adults with autism to live independently.” For more on what’s planned for this residential community,  “at 21st and Missouri avenues in Phoenix,’ head to AZ Business Magazine.

Most expensive home sales in Phoenix. Arizona Foothills Magazine has the “top home sales from the past week (2.12.18 – 2.18.18 ),” during which combined sales totaled “over $20 million,” an UPTICK of $3 million from the previous week. Among the home features included (and not included) in this installment: Coffered ceilings, five fireplaces, marble flooring, and stunning collection of paintings by French post-Impressionist Paul Gauguin, including one titled “Study of Nude.” (Or could it just be blowup photo from the phone of Steve Montenegro?)

THE PRICE IS RIGHT – 10 most accurate home price forecasts for metros. “According to CoreLogic’s latest House Price Index (HPI) Validation Report released on Thursday, the company’s national HPI forecast for 2017 came within 1.7 percent of the actual increase in HPI over a 12-month period ending in November 2017.” See how PHOENIX-MESA-SCOTTSDALE fared “in terms of accurately predicted HPI forecasts” and access the full CoreLogic report at DSNews.

Putting Peoria on the business map: City is site-selection finalist for two large companies. “[A] Fortune 100 manufacturing operation has set its sights on the Vistancia commercial core in North Peoria proposing about 500,000 [sq. ft.] and 2,500 jobs in the first phase, then 3 million [sq. ft.] and 5,000 jobs at build-out… [The] second project is a large advance business services company targeted for the P83 area proposing 300,000 [sq. ft.] and 2,500 jobs.” So who are these companies? While Economic Development Director Scott Whyte isn’t revealing, “he did say Peoria has never been a finalist in site-selections of this magnitude.” YourValley. 

Jim Rounds: Responsibility key to economic growth. “[Economist Jim Rounds] was the keynote speaker at [WESTMARC’s annual board of directors] meeting that brought together business owners, council members and school board directors to discuss potential West Valley growth.” KEY QUOTE: “We’re going to see a larger share of growth occur in the West Valley, but… [j]ust because an organization forecasts this, it doesn’t mean it’s going to happen unless you have proper planning.” West Valley View.

Pinal Alliance panel discusses economy, prospects. “Pinal County is primed for growth.” That was the main message delivered by economic development leaders at a recent gathering of “members of the Pinal Alliance for Economic Growth.” The panel — which included “[e]conomic development specialists” Keith Watkins, Susan Dumon and Chris Camacho — stressed that “Pinal County communities should be ready for site selectors long before representatives from major companies get to town.” Casa Grande Dispatch.

Mesa uses interactive technology to boost economic development. “, a web-based virtual reality tool, uses interactive technology to allow users to explore each of Mesa’s business district’s major assets and employers, new developments and investments, key amenities and development opportunities.” Dealmaker checked it out — very cool! Learn more and give it a try via AZ Business Magazine

Bill to limit public funding for sports stadiums appears to be dead. “The bill, SB 1453, [which] would potentially impact public money for new or renovated arenas” for the Coyotes… Suns… Diamondbacks and all Cactus League spring training ballparks and any future improvements, or a new stadium for the [NFL] Cardinals… now appears to have failed.” Should you hear any “HIP HIP HOORAYS!” today, they’re likely coming from “business and tourism groups,” thrilled over the bill’s demise. The Glendale Star.

Glendale Council prepares for airport expansion. “As Glendale continues to discuss added revenue to its transportation plan after cancelling light rail, one item gaining momentum is the development of the east side of Glendale Municipal Airport. Council gave consensus to move forward with updating the final draft of the Airport Layout Plan Narrative Report.” Councilmember Joyce Clark: “Our movement on the development on the east side of the airport helps us accomplish our goal of development of the area.” The Glendale Star.

City of Maricopa accepting bids for development of Copper Sky commercial site. –> Along SR 347, adjacent to Copper Sky Recreational Center. According to a MaricopaMatters presser, “The vision is to transform the 18 acreproperty into a high quality mixed-use destination that compliments the Copper Sky Recreation Complex and delivers significant social and economic impact on the community.” More info here:

A WASTE OF ENERGY? – Biogas company wants to build plant in Florence. “Town staff plan to begin negotiating a development agreement with Alkeme LLC and associated parties for development of a biogas operation. Town Manager Brent Billingsley told the City Council at its meeting this week that the company wants to use material from the town’s wastewater treatment plants ‘for a positive purpose.’ ”Florence Reminder.

The AZBEX Year in Review roundup. Well, 2018 sure zipped by awfully fast, didn’t it? Actually, this is just a very late (relatively speaking) 2017 retrospective, the result of “a couple technical issues.” According to the EDITOR’S NOTE, this “story was intended to run last Friday…” It includes readers’ “favorite pieces” — “stories from each month since Issue One of the past year.”

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


MONTENEGRO, LOVAS & MORE – Montenegro admits to sexy texts in ‘Washington Examiner’ interview. But in Washington Examiner Montenegro says he never solicited the photo,” and “accuses his opponents of sabotaging his political career with ‘revenge porn.’ ”(RELATED, from Arizona Capitol Times: “Lesko threatens CD8 rival Lovas with litigation.” And from AZCentral: “Congressional District 8 voters, ignore your ballot’s instructions — don’t vote for 2 people.”)

ALARMING NEWS – Arizona universities not among the safest.“[] compiled the list of 2018’s Safest College Campuses in the U.S “using the most recent data from the FBI’s Uniform Crime Reporting and the Campus Safety Security Survey…” Get the state-by-state school rankings and see which university ranked “least safe” in Arizona, at ADI.  (RELATED, also from ADI: Diane Douglas: “If Kids Aren’t Safe In Our Schools No Learning Is Going To Happen”

Attorney General asks court to halt Scottsdale school construction over procurement violations. “The Arizona Attorney General’s office filed a civil injunction Thursday against Scottsdale Unified School District seeking to prevent further construction on Hohokam and Cheyenne elementary schools, following multiple investigations into possible procurement and conflict of interest violations that have roiled the district’s administration.” Arizona Center for Investigative Reporting.

Big money already at play in newly filed clean-energy initiative. “The Clean Energy for a Healthy Arizona campaign, backed by California Democratic billionaire Tom Steyer… seeks to amend the Arizona Constitution to put in place a requirement for 50 percent of energy that large utilities use to come from renewable sources by 2030.” But as Arizona Capitol Times reports, “the state’s largest utility wasted no time in spending money to discredit [the] ballot measure.” (RELATED, from Cronkite News: “Gallego, Latino community promotes Clean Power Plan.” Also, from AZCentral: “APS customers will see lower bills starting in March, thanks to Donald Trump’s tax plan.”

Arizona bill dictates embryos go to parent most likely to use them. “Saying parents who want children deserve that right, state senators voted Thursday to require that frozen embryos be given to the parent who will use them, even if the other parent objects. SB 1393 would strip judges handling divorce cases of their right to decide who gets the embryos. It also would overrule contracts that couples signed in happier days where they agreed what would happen to the embryos in case of divorce.” By Capitol Media Services/Howard Fischer in Arizona Daily Sun.

Remaining faithful in marriage and grocery shopping. Senior Reporter/Writer Phil Riske’s trip to the local market he faithfully frequents, turns his world upside down, totally FREAKING HIM OUT. Find out why, in his funny piece at Rose Law Group Reporter.

House OK’s resolution to amend minimum wage law. “On a 35-25 party-line vote, the Republican-controlled House of Representatives decided Wednesday to ask voters to eliminate a provision in the voter-approved law, which spells out that if an employer takes action against a worker within 90 days of a complaint, it is presumed that the action is illegal retaliation.” By Howard Fischer in Arizona Daily Sun.

Rash of GOP bills seek to empower lawmakers, disempower voters.“Arizona is no stranger to bills that are criticized as a power struggle between lawmakers and voters, but… this year’s wave of legislation is unprecedented.” Arizona Capitol Times. (RELATED, in Arizona Daily Sun: “Arizona Supreme Court broadens what citizen ballot issues may propose.”)

Arizona Supreme Court broadens what citizen ballot issues may propose.“Without dissent, the justices ruled that state laws that limit legislation to a single subject do not apply when the proposal comes from voters. That means initiative backers are free to propose new statutes with a full garden of ideas in a single measure, even if they are unrelated.” Howard Fischer reports the ruling “pave[s] the way for more wide-ranging citizen initiatives — assuming the proponents can get their issues on the ballot.” In Arizona Daily Sun.

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