The Dealmaker: 2/6/2018

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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




Builder Insider: How will big builder use $1 billion-plus in tax cuts? “Meritage Chairman and CEO Steve Hilton offers an exclusive take on the impact of historic tax legislation,” in Builder.

Fulton Homes stands behind patriotic beliefs. (Disclosure: Rose Law Group represents Fulton Homes.) “The Arizona builder chose ad spots in the fun-loving Puppy Bowl over the Super Bowl this year in response to NFL players’ kneeling protest.” The commercial shows “puppies standing for the National Anthem and carrying American flags during the football game.” WATCH the ad and see what CEO Doug Fulton has to say about the decision to place it — in Builder

Ten noteworthy attached home projects. “From traditional townhomes to modern-style duplexes and luxe condos“ that “offer sustainability, connectivity, cityscapes, and more.” That’s how Builder describes these 10 attached home projects for a list which includes developments right here in the Valley, from both Maracay and Landmark Homes USA.

Downtown focused development. DTPHX, the city-centered site that touts itself as “working tirelessly to build a better downtown,” has recently updated its “Development & Business Research” page with residential and commercial development activity for Q1 2018. Tap through to access the two-page PDF rundown.

A tale of two housing crises, rural and urban. “Native Americans cannot escape the housing crisis by fleeing cities. On the reservations and in the border towns of Indian Country, the problem is equally acute.” (As a recent Arizona Republic investigative series found… “Navajo households continue to suffer from poor quality or inadequate housing, while the Navajo Housing Authority does little.”) This report from High Country News looks at how “one Indigenous family is navigating two very different housing problems.”

Co+Hoots expanding to second location in $60 million Mesa project. <– “[A]s part of the planned $60 million Grid mixed-use development. The second Co+Hoots space will be in a 13,500-square-foot nest at a project that has not yet broken ground but one that promises restaurants, offices and 500 new residents along downtown Mesa’s Main Street.” Phoenix Business Journal.  

Marijuana dispensary coming to your area? Chances are it didn’t go before city council. “In 10 Valley cities, from Glendale to Gilbert, new dispensary openings are approved with planning staff or commission approvals. Chandler is the latest city to implement the less public process. While a Chandler planner said its decision to join other cities in bypassing elected officials in approving dispensaries should decrease red-tape for applicants, others say regulations remain overly complicated.” AZCentral.

The Outpost receives CUP approval for north Scottsdale gas station. “City Council approved a conditional use permit for a new gas station… on 2.25 acres of an 8.6 acre site at… the corner of Dynamite Boulevard and Pima Road.” Site plan and stipulation info, plus artist’s rendering at Scottsdale Independent

Phoenix selected as top emerging industrial market. “Colliers International.. just released a Top 10 Emerging U.S. Industrial Markets Report, which features Phoenix as a market to watch in 2018.” What were the “key reasons Phoenix was chosen”? That, along with other highlights, plus a link to the full Colliers’ report, at AZRE.

Neighbors wary as Tucson looks to sell old Volvo dealership. “Residents of the Miles and the Barrio San Antonio neighborhoods are anxiously eyeing the city’s plan to rezone and then sell the old Broadway Volvo dealership that sits empty next to the Welcome Diner.” Arizona Daily Star reports that “a number of… neighbors have heard rumors about a seven-story hotel to be built on the site.”

ABC: Demand for construction workers remains strong. “Construction added 36,000 net new jobs in January, an impressive increase of 0.5 percent on a month-over-month basis.” HOWEVER, ABC Chief Economist Anirban Basu cautions: “While the near-term economic outlook remains rosy given the economy’s abundant momentum, there are some grey clouds forming on the horizon of which contractors should be aware.” AZRE. 

Arizona construction company brings inmates into the workforce. “Over the past two years, Erickson Companies, based in Arizona, California and Nevada, has worked in conjunction with Arizona Correctional Industries to provide inmates with carpentry jobs.” Erickson Companies’ GM Larry Butts: “We’re able to train these guys, work alongside them, and at some point they’re going to get released. We’ve given them a skill… and a second chance.” KTAR.

Pollack: A very good week for economic data. “It was so good,” says The Monday Morning Quarterback, “that it was a bad week for the stock market.” How does that happen? MMQ explains, and has data for these ‘Snapshots’ –> U.S.: Employment, Wages (w/ chart), Income, Consumer Confidence (w/ chart), Productivity, New Orders, Vehicle Sales, Construction Spending, HPI. AZ: Phoenix HPI, Enplanements & Deplanements, Lodging Occupancy, Vacancy – Office/Retail/Industrial.

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

Veteran tax cut passes on second vote of Senate. “The chamber voted 18-11 to approve a tax break for certain military veterans, days after the same measure failed on a 15-13 vote — one shy of the 16 needed in the Senate for approval.” What this bill (sponsored by Sen. Gail Griffin) would do for veterans, plus details on how the vote was passed, in Arizona Capitol Times.

In a volatile political year, Arizona’ voter registrations scrubbed down.  “[Info] from the Arizona Secretary of State’s office showed that despite the drop [in the ‘total number of registered voters’ since October], numbers have risen since 2016…” Secretary Michelle Reagan: “We frequently see a slight decrease in registration when our counties scrub voter rolls…” More from Sec. Reagan, plus a breakdown of voter numbers, at KTAR.

[OPINION] Our hackable political future: Could Arizona politicians show up in fake videos? “It already feels as though we are living in an alternative science-fiction universe where no one agrees on what it true. Just think how much worse it will be when fake news becomes fake video.”  There’s quite a bit more hand-wringing in this co-contributor New York Times piece from GWU poli-sci prof Henry J. Farrell and author Rick Perlstein, over what they see as “the shape of things to come”: Totally realistic “fake video” and the “implications for democracy.”

Here’s why U.S. farmers are producing too much food. And ‘why they can’t stop” doing so, “despite a global oversupply and low prices.” A paywall piece from The Wall Street Journal.

How far will the right-to-die movement go? “More states may legalize euthanasia for terminally ill patients. But even where it is allowed, some doctors still refuse to offer it.” Governing. (Also available, this RELATED report/video from the Goldwater Institute: “Everyone deserves the right to try,” which argues that states “should enact… measures to protect the fundamental right of people to try to save their own lives.”) 

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

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

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February 2018