The Dealmaker: 3/26/2018

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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

 
 

 

Court denies injunction to stop Pinal road tax collection. A Maricopa County Superior Court judge has denied an injunction that would prevent the collection of Proposition 417 taxes for new transportation projects. Casa Grande Dispatch reports that the “half-cent sales tax will now be collected starting on April 1 and will be put into an escrow account until the [‘ongoing’] litigation is settled.” http://bit.ly/2G6QR6N

299-unit multifamily redev for Kierland. “Lennar Multifamily Communities is advancing a [PUD] proposal… that will replace the two aging suburban-style office structures on 71st Street north of East Tierra Buena Lane with a ‘4-Over-2-Podium’ design of four residential levels over two stories of podium-style parking.” View a rendering and get “The Details” at AZBEX. http://bit.ly/2DWdF3g

Metro Phoenix is a growing hub for new housing for adults with specialized need. The latest addition is Luna Azul, “at 16th Street and the Loop 101 that will have 30 cottage-style homes, 24-hour staff and a clubhouse for adults with specialized needs. Unlike in other similar communities, these homes aren’t rentals. They are for sale, something developer Mark Roth believes makes the community unique” — “different from any other neighborhood in Arizona — and maybe the U.S.” AZCentral. http://bit.ly/2Ge8duz 

If you build it: Here are the top construction projects across metro Phoenix.Phoenix Business Journal is out with its 2018 Valley Construction Projects list. Based on total budget, the top three projects are The Maricopa County Intake Transfer and Release FacilityISM Raceway Hub in Avondale, and Greenfield Water Reclamation Plant Phase III Expansion. Tap on for info on these and the other projects rounding out the top five. (Access to the complete list of 35 projects is available to PBJ subscribers.) http://bit.ly/2umHavq

100-unit apartment complex coming to Highway 69 area. • On 5.2 acres in the Prescott Gateway Mall area • One- and two-bedroom units • The Daily Courierhas a rendering and further details on Winfield at the Ranch, along with info on other projects in the Prescott multi-family pipeline, including one development “dedicated exclusively to veterans and elderly residents.” http://bit.ly/2Ge7cCq

Commercial developments enrich West Valley quality of life. “The region now boasts a diverse range of restaurants, retail, championship golf courses, hotels, parks, award-winning schools, healthcare facilities and a variety of housing for executives and employees.” WESTMARC President and CEO Sintra Hoffman: “It’s a different community now [than it was 10-12 years ago] in terms of buying power, education levels, workforce availability and jobs.” AzBigMedia. http://bit.ly/2I3Z7km 

Mesa projects target growing industries, high-wage jobs. Falcon District, Gateway Area, Fiesta District, and Riverview Area — AzBigMedia’s David McGlothlin takes a look at “strategic economic development plans” for these “four corners of Mesa” and how those strategies are “paying off,” with various projects involving “technology, medical devices and commercial aerospace.” http://bit.ly/2DV6DvB

Peoria studies elements of what its future holds. “Placemaking” was among the areas of focus at a recent council workshop. Peoria Times takes a look at the “placemaking theme” and the discussion which covered “Old Town, P83 area, Happy Valley Corridor, and a long-term Old Town vision.” http://bit.ly/2pGtTcq

More than 200 attend meeting in Gold Canyon hosted by Apache Junction mayor. They gathered to hear Mayor Jeff Serdy on a number of topics, including: 720 homes being built in Gold Canyon; the need for the north-south interconnect from Hwy 60 to Picacho; and Gold Canyon and AJ creating a “close partnership.” Mayor Serdy: “It got out there. Things were spoken about that hadn’t been spoken about before and discussed before…” Apache Junction Independent. http://bit.ly/2pJ3LO3  

Ottawa University campus set to expand in Surprise as city OKs 65-year lease. “The Surprise City Council this week unanimously approved the deal to allow the university to grow its campus across 14 acres of city-owned land in downtown…”  Mayor Sharon Wolcott calls it “a real turning point” for the city. Terms of the deal plus info on “Ottawa’s vision for a full-fledged campus” at AZCentral. http://bit.ly/2Gv58cQ

South Phoenix business owners oppose light rail at council meeting. “The main topic of contention [at a recent city council meeting] was the proposed two-lane reduction of vehicular traffic on Central Avenue, which many felt would impact their businesses.” What would these folks prefer instead?  The answer is apparent from the name for the opposition group: “4 Lanes or no Train.” More in Downtown Devil. http://bit.ly/2I7dynP

Demolition work for Maricopa overpass to begin. “[Today], crews will be completing demolition of several vacant homes ADOT acquired to clear the way for the [State Route 347] overpass.” But don’t bother hightailing it to the site, expecting to witness the bulldozing extravaganza — Maricopa Monitor reports the “public will not be permitted on or around the properties during demolition due to safety concerns.” http://bit.ly/2G7UvgO

Central Arizona College professor has Interstate 11 alternative. “Sanjeev Ramchandra, a math professor at CAC’s Signal Peak Campus, has submitted a proposal to [ADOT officials] that would create the future Interstate 11 while bypassing Pinal County.” Ramchandra’s proposal has the route starting “from the Lukeville port of entry rather than at Nogales.” And where exactly would it go from there? Check out the map and read the report at Casa Grande Dispatch. http://bit.ly/2GbKcIg

Copley endorses Evans for mayor; “discourteous” pair remains unnamed. “Former Flagstaff City Manager Josh Copley, who resigned the position last month, endorsed Mayor Coral Evans in her reelection campaign this week.”  But wait — wasn’t Mayor Evans “one of the two council members” that Copley “referred to in his resignation letter as behaving in a ‘discourteous and unprofessional’ manner”? Nope. Read on in The Daily Sun. http://bit.ly/2G86MBB

Williams council fires city manager after three months. “The City of Williams will soon begin the search for its third city manager in two years after the council voted unanimously last week to terminate the contract of City Manager Bill Lee.” Why was City Manager Lee fired? From this report in Arizona Daily Sun, it appears he was yet another casualty of the old “we’re heading in a different direction” treatment. http://bit.ly/2Ga5oid

Jordan and Jason Rose among America’s 100 Best Party Hosts. File this one under “In Case You Missed It” — or better yet, put it under “Worth a Second Look.” AzBigMedia has picked up on the item that we bought to the attention of Dealmaker readers last week — news that Jordan and Jason Rose were among the 100 other notables like Bob & Renee Parsons, Cindy Crawford, Rande Gerber, Heidi Klum, Oprah Winfrey and Reese Witherspoon who made The Salonniere list of those who “entertain with enthusiasm, creativity, passion, and flair.” http://bit.ly/2I5x2cr

Cameron’s $5M + deals of the day – http://bit.ly/2I5QyFO

 



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

What would you do if a dying loved one wanted an experimental, possibly deadly, medicine? Calling it a “shame that such an issue has to be political,” Senior Reporter/Writer Phil Riske was joyous over news last week that the Goldwater Institute’s ‘right-to-try’ legislation had passed the U.S. House. For Phil, it’s much more than just a political issue. For him, it’s deeply personal. In Rose Law Group Reporter. http://bit.ly/2unlLlS

Uber’s self-driving cars were struggling before Arizona crash. “The cars were having trouble driving through construction zones and next to tall vehicles, like big rigs. And Uber’s human drivers had to intervene far more frequently than the drivers of competing autonomous car projects.” The New York Times. http://bit.ly/2G8aJq5

Waymo CEO says company’s tech could have avoided fatal Uber crash.Prefacing his remarks saying that he wanted to be “really respectful of Elaine, the woman who lost her life [in the Uber crash], and her family,” Waymo CEO John Krafcik “said at the NADA conference in Las Vegas that his company’s technology could have handled a situation and avoided the deadly Uber crash in Tempe.” He calls his company’s technology “strong and capable and of course very, very safe.” KTAR. http://bit.ly/2GqR0Bd

Arizona ranks in upper half of gun industry-dependent states. WalletHubcompared the economic impact of guns on each of the 50 states to determine which among them leans most heavily on the gun business, both directly for jobs and political contributions and indirectly through ownership.” (RELATED, from CNBC: “Remington, the oldest gun maker in the United States, files for bankruptcy protection.”) http://bit.ly/2pDmXgg

From the governor to utilities to Realtors, Arizona poised for hefty 2018 election spending. “There were no statewide or legislative elections in 2017, but the year marked the most prolific campaign fundraising year since the state began keeping the records in an electronic database, setting up the 2018 election for massive political spending.” Check out the fundraising figures in Arizona Center for Investigative Reportinghttp://bit.ly/2GuJ2qQ

There’s a wall between Lesko and Tipirneni over Trump wall. West Valley congressional contenders Debbie Lesko and Hiral Tipirneni offered competing visions for border security Friday…. Lesko cited drug- and human-trafficking as necessitating a wall, [while] Tipirneni… argued that a border wall would only give the illusion of safety.” AZCentral. http://bit.ly/2IUYWsP

Lennar to Sunset Farms Read more

Estrella Bolsters Home Builder Portfolio With Courtland Communities Debut Read more

Rosewood Homes earns 6-Awards at 22nd Annual Elliant Homebuyers Choice Awards Read more

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Cameron’s $5M + deals of the day

Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County. Price: $27MBuyer:  Tides on 19th Partners, LLC

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