Q&A with Mattamy Phoenix Division President Harry Lourimore.Mattamy Homes Phoenix Division President Harry Lourimore provides insight into the company’s successes here in the Valley in this wide-ranging interview by Callan Smith for Rose Law Group Reporter. http://bit.ly/2Gvaxhp
A ‘Village center’ concept to Maricopa? “That was the question at the heart of a presentation during Monday’s planning and zoning commission meeting, which focused on the concept of a… high-intensity urban center somewhere in the city, with a minimum of 18 dwelling units per acre.” And, as Maricopa Monitor points out, naturally it “would mean dramatically altering the look of an area like Maricopa.” http://bit.ly/2FCWl92
Home sellers now use spycams to gather intel on prospective buyers during open houses. “The rise of these wired home sellers is raising fresh concerns about privacy, courtesy and legality in a transaction that’s already fraught with emotion and potentially full of pitfalls.” And, based on one client’s reaction after a showing in Phoenix — an incident which is featured in this Realtor.com® report — potential buyers can now add getting totally “creeped out” to their list of “fresh concerns.” http://bit.ly/2FFxnWw
Changes to Freddie Mac, Fannie Mae could drive mortgage payments up$400 a month. “Zillow examined how alternatives to the traditional 30-year mortgage would affect borrowers’ monthly costs, using current home values and mortgage rates.” See what kind of financial pinch borrowers in Phoenix would face under such changes, in World Property Journal. http://bit.ly/2FZnGBM
Report: These trends are radically disrupting multifamily housing.“Renters’ desire for personalization and less stress, integration of AI and IoT into apartment infrastructure, concentration of 35+ age groups will drive multifamily in next 12 years.” That is the overall takeaway from the National Multifamily Housing Council’s Disruption Report. For a closer look at the report’s key findings, click to Multifamily Executive. http://bit.ly/2tQXioB
Bill aims to lower property taxes for some Arizona seniors. Hey! Right on! Let’s hear it for Bill! All kidding aside… Capitol Media Services’ Howard Fischer reports that the “House Ways and Means Committee voted 6-2 Wednesday to grant Class 6 status to the homes of seniors who meet certain income requirements” — which means that “[s]ome Arizona seniors could be in line for a big property-tax break, but it could come at the expense of other taxpayers…” In Arizona Capitol Times. http://bit.ly/2tTmAmh
Laura Bianchi, Rose Law Group Partner and Director of Medical Cannabis, quoted in AZ Big Media, discussing impact of cannabis industry on CRE. The big-box Revlon building in South Phoenix goes from sitting vacant for 14 years to now operating as “the largest indoor cannabis cultivation facility in Arizona.” Such “adaptive reuse” is “just one example of the state’s cannabis-related real estate activity.” AzBigMedia’s David McGlothlin takes a look at how the industry “continues to attract investor interest while also creating jobs and real estate opportunities.” http://bit.ly/2tNVXz3
Chinese Cultural Center update: Beijing Gardens restaurant remains open. “News of a remodel to Phoenix’s Chinese Cultural Center announced last summer sparked a feud over property rights and preservation.” AZCentral has the latest developments in an already drawn-out legal “battle” that is “far from over.” http://bit.ly/2tMGFe0
Raze or renovate? Arizona State Fairgrounds faces uncertain future. “[A] growing number of complaints about the fairgrounds have surfaced as midtown Phoenix has become one of the Valley’s hottest areas for growth… Over the weekend, the Governor’s Office, fair board and state historic preservation office invited residents to participate in a four-day planning session to share ideas for [its] future.” Four plans “emerged” from the session, and AZCentral has the rundown. http://bit.ly/2tMa9IE
Your Turn: Moving Colorado River water to central Arizona isn’t a scam – it’s smart policy. In their co-authored AZCentral op-ed, Home Builders Association of Central Arizona CEO, Connie Wilhelm, and Southern Arizona Home Builders Association president, David Godlewski, make a watertight case for supporting the Central Arizona Groundwater Replenishment District and the “plan to move more Colorado River water to central Arizona.” http://bit.ly/2FLfJwC
Paradise Valley readies new guidelines to corral local water flow. “[PV] Town Council is in the midst of a storm drainage design manual update more than 30 years in the making, and embedded within the municipal planning tool are potential parameters on how and what lots home builders and resort developers can and cannot build.” Paradise Valley Independent. http://bit.ly/2Iv1YE4
Scottsdale agrees to Storyrock project right-of-way abandonment request. “Cav-Ranch LLC, and Keith Nichter of Lva Urban Design Studio asked [the city] for its blessing to abandon portions of north 128th Street, and portions of right-of-way within Storyrock, a proposed [443-lot] subdivision at east Ranch Gate… Additionally, a development agreement was authorized, implementing the zoning stipulations of the subdivision’s zoning case, formerly Cavalliere Ranch.” Scottsdale Independent. http://bit.ly/2Dw3p1e
Phoenix group homes may soon face stricter rules. “The Central Village Planning Committee voted to recommend the changes 17 to 1 Monday. The text proposal includes adopting a licensing program for structured sober living homes and additional updates to policies and procedures.” Downtown Devil has the details. http://bit.ly/2FAsON8
Scottsdale unveils interactive map of city construction projects. “The ‘Investing in Our Scottsdale’ map allows users to browse or search by address and pinpoints transportation, recreation, public safety, stormwater and water projects… Another feature is historic aerial photographs dating as far back as 1969 in some areas.” Give it a whirl via Scottsdale Independent. http://bit.ly/2tTpl77
‘ON AESTHETIC GROUNDS’ – Surprise adopts sign rules: Panel votes to block billboards along Grand Ave., Loop 303. “City leaders last week passed signs rules, a move that may help some local businesses, but not those hoping to erect billboards in the community.” YourValley. http://bit.ly/2FXlECc
Reboot: Swap involving Flagstaff-area lands takes heat, suspended. “More than 9,000 acres of national forest around Flagstaff that were being considered for a trade to the Arizona State Land Department are more than likely off the table… State and legislative officials delivered that message to [an SRO] crowd in… City Council chambers Monday evening. It was welcome news to attendees who were largely opposed to the possibility of those federal lands being moved into state hands.” Arizona Daily Sun. http://bit.ly/2HCxYor
Cameron’s $5M + deals of the day – http://bit.ly/2DvwdXE
McCain and high school friend of mine remind us of an awful war — and its heroes. On the 45th anniversary of John McCain’s release from a prisoner of war camp in Hanoi, Senior Reporter/Writer Phil Riske pens a touching tribute, honoring not only McCain’s heroism, but also that of high school friend Ron Bliss, a decorated Vietnam War fighter pilot who also spent 6 1/2 years in the “Hanoi Hilton” POW camp. In Rose Law Group Reporter. http://bit.ly/2pdF9wE
Arizona, California mayors unite to tackle affordable housing, homelessness issues. Phoenix Mayor Greg Stanton is among the “[f]ourteen mayors and CEOs” that “have joined the Mayors & CEOs for U.S. Housing Investment coalition. Part of their goal is to form public-private partnerships to ensure the federal government continues to fund federal housing and homeless assistance.” Cronkite News. http://bit.ly/2Irq82k
THERE WILL BE BLOOD? – Theranos founder, who bamboozled Arizona Legislature, governor, sued by SEC. “Attorneys for the [SEC] contend… that Theranos Inc. and founder Elizabeth Holmes raised more than $700 million while making it appear the company had successfully developed a portable blood analyzer that could perform a full range of laboratory tests from a small sample of blood.” Howard Fischer details the SEC charges and how Arizona officials got snookered, in Arizona Capitol Times. http://bit.ly/2FNUOcs
Arizona solar shines bright in 2017, maintains high ranking as a top solar state. “Arizona’s solar market had a solid year in 2017, as the state maintained its place as the third best state for solar, according to… GTM Research and the Solar Energy Industries Association’s U.S. Solar Market Insight Report 2017 Year-in-Review.” (Or “GMTRSEIAUSSMIR-2017” for short.) Tap to PBJ for the report findings. http://bit.ly/2Iqjucq
Coal tax break aimed at helping Navajo Generating Station stalls in Legislature. “Lawmakers debated but failed to pass a proposal to give about $12 million in annual tax breaks for coal sales Wednesday in an effort to save the Navajo Generating Station power plant, which is closing next year.“ And if the power plant closes, so too will the “Kayenta Mine on Navajo and Hopi land in northern Arizona…” AZCentral. http://bit.ly/2FLTlmC
