Lennar acquires 232 home sites for $17.6M. “Lennar intends to build on [112] home sites to continue the 212-lot neighborhood called Horizon at Asante [in the city of Surprise].” As for the other 120 lots, which are larger home sites, AZRE reports that they may end up being sold. Tap on for further deal and development details. http://bit.ly/2IuF4g3
BUBBLE PHObia – Is Phoenix heading towards a real estate bubble? Real estate consultant Jim Belfiore busts the notion. “Phoenix is going through a growth spurt, which usually leads some to start asking when will it end and will it end well. Fox 10’s Stephanie Olmo puts the fears to rest”— as does Jim Belfiore —> “Recent healthy growth in the Phoenix-Area housing market is based upon solid supply and demand intrinsics that are likely to continue to push up home prices. Any mention of a housing ‘bubble’ at this point, is nonsense.” Access/WATCH Fox 10’s full report in Builder. (BTW, Dealmaker research staff found there’s an actual name for the fear of bubbles. It’s called loseyourplacephobia. Kidding. It’s ebulliophobia.) http://bit.ly/2piJUnK
Most expensive home sales in Phoenix. Arizona Foothills Magazine has the “Valley’s top home sales from the past week (3.5.18 – 3.11.18),” during which combined sales totaled “over $25 million.” That’s a PLUNGE of $18 million from the previous week. Among the home features shown (and not shown) in this installment: 2 wine rooms, 6 fireplaces, and several charming, but hard to spot, tax shelters. http://bit.ly/2phmpMF
What’s stopping minority residents from buying homes in Phoenix? “The Republic analyzed a database of 2016 mortgage applications released through the Home Mortgage Disclosure Act and compiled by Reveal from the Center for Investigative Reporting.” Here’s what it found: http://bit.ly/2GAf1Uc
NAHB leaders call on Congress to adopt a strong housing agenda. “NAHB Chairman Randy Noel and First Vice Chairman Greg Ugalde conducted two days of meetings this week with Republican and Democratic leaders on Capitol Hill to urge lawmakers to keep housing in the forefront of the national agenda.” Details on who they spoke with and what the policy talks centered around, at NAHBNow. http://bit.ly/2FN7gcc
A FREE RIDE – How did the deal unfold to attract Nikola Motor Company to Buckeye? The one-million-square-foot semi-truck manufacturing facility will be built “near Douglas Ranch at Sun Valley Parkway” on a “500-acre plot that Nikola received for free from El Dorado Holdings and JDM Partners.” AzBigMedia reports, however, that “free land isn’t the only thing that convinced Nikola… to build its factory in Arizona.” http://bit.ly/2Dwr4Pe
2 manufacturers and 80 new jobs coming to Avondale, Goodyear.“Mattress maker King Koil will open its first owned and operated manufacturing facility in a new 90,000-square-foot plant at 127th Avenue and Van Buren,” and “IAC Industries, an industrial and laboratory furniture company, is moving into a 50,000-square-foot building on Bullard Avenue near the Phoenix-Goodyear Airport.” (Perhaps the two manufacturers can combine forces and conduct some sort of sleep study.) AZCentral. http://bit.ly/2HFqiSw
Area officials frustrated with ADOT, GRIC over no plans to widen I-10 stretch. “Major corridors for passenger and freight traffic would be expanded and improved during the next five years as part of a proposed annual update to [ADOT’s] lineup of projects… But not [I-10] between Casa Grande and Chandler.” And THAT is NOT sitting well with Pinal County Supervisor Steve Miller nor Casa Grande Mayor Craig McFarland.” Casa Grande Dispatch. http://bit.ly/2peAz1d
Freeway crews prepare to move on South Mountain Park. “The eight-lane highway will require Connect202Partners, the consortium of companies that isdesigning and building the freeway, to cut a 200-foot-wide swath across three peaks.” West Valley View calls construction of the “3-mile ‘central segment’… one of the most controversial phases of the South Mountain Freeway project.” http://bit.ly/2FFuepM
State of the City: Casa Grande. “Mayor Craig McFarland offered both a retrospective of his second year in office as well as a look ahead,” pointing to “five focus areas for the next few years: fiscal responsibility, quality of life, marketing, infrastructure and education.” And Casa Grande Dispatch reports that he “didn’t shy away from the issue of numerous store closures.” http://bit.ly/2FLUcnv
GLENDALE’S WORD IS ‘BONDS’ – City Council discusses uses for GO bonds. “[The city] heard an update on how to spend $175 million in approved general obligation (GO) bonds over the fiscal years 2022-26… Among the items questioned most during [a recent] workshop were storm drains, park improvements, a field operation campus, city hall remodel and a possible community resource center.” The Glendale Star. http://bit.ly/2phKLpN
Cameron’s $5M + deals of the day – http://bit.ly/2pmJGfE
Who’s greener? California housing plan splits would-be allies. “Legislation would allow more home building along transit routes to reduce gas-guzzling commutes. Some who support the goal have denounced the method.” The New York Times. http://bit.ly/2FYfhhL
SRP threatens solar candidates over trademark. Calling it ‘SRP Clean Energy,’ five candidates created a website as part of their campaigns for the SRP board of directors. SRP attorneys sent the candidates cease-and-desist letters, which raises a key question: How does one run for a position on the SRP board “without using the letters SRP?” Rose Law Group Senior Partner and Director of Renewable Energy Department Court Rich supplies the KEY ANSWER in an Arizona Republicreport: “The idea that a government lawyer would tell a candidate for public office that the candidate is prohibited from using the name of the governmental body in a political campaign is preposterous and the government lawyers writing these letters know this.” (RELATED: “Bright year for Arizona solar in 2017.”) http://bit.ly/2DxnUeb
Senate panel approves legislation to override energy initiative mandate.And while “HB2005 would not directly overrule the effects” of a proposed green initiative (The Clean Energy for Healthy Arizonans measure), it “could allow utilities in effect to thumb their nose at the mandate.” Find out how in this report from Capitol Media Services’ Howard Fischer in Arizona Cap Times. http://bit.ly/2FXobfA
Politicians throw a block into voter comments they don’t like. “Some politicians block spam accounts on social media. Some block corporations or trolls. But some Arizona lawmakers block their constituents…” And while “people in both political parties” are doing so, some “First Amendment experts say” that it “may be unconstitutional.” Arizona Cap Times. http://bit.ly/2pi70vH
He used to have a twin brother until he returned from space. “Preliminary results from NASA’s Twins Study reveal that 7% of astronaut Scott Kelly’s genetic expression — how his genes function within cells — did not return to baseline after his return to Earth two years ago.” CNN (Not quite sure what to make of it, but did you know that during the1960s, U.S. space missions were called Gemini?) http://bit.ly/2piZz6J
