The Dealmaker: 3/30/2018

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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

 

 

 

 

 

299 homes proposed for development near I-17 and Circle Mountain Road. And residents in the area aren’t too happy about the proposed development and the request to rezone the 69 acres “which would allow a developer to potentially build 4.2 homes per acre…” The Foothills Focus reports that the “biggest concerns from residents at [a recent] meeting were mainly about water resources, traffic and losing open space.” http://bit.ly/2E6lnYD

eLOYBAY – 14 city parcels going up for auction in Eloy. The city “owns way more property than it needs,” so its selling the parcels — at “90 percent” of their assessed value — “to start getting development interests in Eloy, which in turn will bring in money and help all aspects of the city.” An aerial of the parcels, plus zoning and price info, at Eloy Enterprise. http://bit.ly/2J7VTO3 

10-acre homesites coming to Talking Rock. “Live big” is the tagline used in this news release for Sterling Ranch at Talking Rock, the next phase of the master planned community that will include a limited number of large home sites – up to 10 acres – just 30 minutes outside Prescott. MORE in Rose Law Group Reporter. http://bit.ly/2pTxOCL

Study: ‘Affordability crisis’ is worsening. “The median home price was not affordable to the average wage earner in 68 percent of counties tracked in the first quarter of 2018…” OTOH: “59 percent of the 446 counties analyzed were more affordable than their historic averages, including” one county here in AZ that goes by the name of MARICOPA. Get highlights from the new report by ATTOM Data Solutions and have tons of heat-map click-fun at REALTORMag. http://bit.ly/2E7T5N7

Most expensive home sales in Phoenix. Arizona Foothills Magazine reports that its top 10 home sales this past week (3.19.18 – 3.25.18) totaled “over $20 million.” That’s a SKID of $2 million from the previous week’s total. Among the home features seen (and not seen) in this installment: A separate guest entry suite, walnut flooring, covered loggias, and “two bonus rooms.” (However, no word yet on how thrilled the new homeowners were upon moving in and discovering that they had the two extra rooms.). http://bit.ly/2J8NFVQ

Report predicts 4,000 companies in Scottsdale Airpark submarket by 2030. <— That according to Colliers and its Greater Scottsdale Airpark 2030 Reportwhich also forecasts “as many as 80,000 workers” and “as much as 52 million square feet of commercial space by that time.” For further highlights from this Colliers’ report on what’s being dubbed “Edge City,” tap to AZREhttp://bit.ly/2pOZE2a

5 growth areas for Phoenix and the engineers who are making it happen.“Engineering turned one of the most inhospitable places on Earth [no, not D.C.] into the fifth-biggest metropolitan area in the country, and engineering research — when it’s paired with industry — will continue to transform the Valley of the Sun’s future.” ASU Now: Impact presents the “five areas with significant growth potential for ASU and for the Valley,” featuring insight from ASU researchers/faculty and Phoenix City officials, as well from Benchmark Electronics CEO Paul Tufano and Sunbelt Holdings president and CEO John Graham. http://bit.ly/2pR2nrW

Salt River Community stakes claim as economic development powerhouse. Scottsdale Independent takes a look at how the Salt River Pima-Maricopa Indian Community — with “11 areas of economic development, spanning both the east and west sides of the Loop 101” — has been “actively pursuing economic development on its 52,600 acres with the ultimate goal of creating long-term sustainability for its citizens.” http://bit.ly/2EaWTgY

Scottsdale November GO bond ballot question appears imminent. “Its name is bond — Scottsdale general obligation bond. Scottsdale City Council appears poised to pursue a $350 million general obligation bond measure next election day… The pursuit, city officials say, is a culmination of understanding the dire straits of local infrastructure in certain pockets of the municipality.” Scottsdale Independent. http://bit.ly/2J9z7Wi

Queen Creek approves development agreement for land at Ellsworth and Queen Creek roads. “The town contacted [‘Wadsworth QCS LLC, developers of 35.92 acres on the northwest corner’] in early 2017 to inquire about constructing improvements in conjunction with a designed capital improvement project.” Last week, an agreement between QC and Wadsworth was approved. Details in Queen Creek Independent. http://bit.ly/2uxSFQZ

Allstate Utility Construction property rezoning approved by Queen Creek. In September 2017, Allstate was informed that it was doing business “on a residentially zoned property” east of Germann and Rittenhouse. But after rezoning, it’s all good! Queen Creek Independent. http://bit.ly/2Ig64Pw

Avondale’s State of the City event reveals plans for progress. “Being named an ‘All-America City,’ renovations of a major racetrack, and construction of 600 new hotel rooms were just a few of the topics discussed at the Uniquely Avondale State of the City Event…” The event’s main attraction (other than the “food and drink samples from a variety of local businesses”) was, of course, the address by Avondale Mayor Kenneth Weise. Check out highlights from the mayor’s speech in West Valley View. http://bit.ly/2GoJTpH

Buckeye Mayor Jackie Meck recovering after heart procedure. West Valley View also has this news on Buckeye Mayor Jackie Meck, who it reports is “now recovering at home with his family after undergoing a successful emergency procedure to clear a blocked artery on March 18.” Get well soon, Mr. Mayor! http://bit.ly/2J6ODlJ

New Eloy City Hall project comes in under $10M; groundbreaking set. “The project is budgeted for a total of $9,935,715, and the builder, Core Construction… was approved for an amount of $7,616,161…” Despite ongoing council concern “with the outside facade” of the building, the groundbreaking is “planned for April 19.” (NOTE: Dealmaker sees no issue with the facade as it appears in Eloy Enterprise; however, given that two airborne parachutists are also depicted in close proximity to the building, it’s the ROOF we’re freaking out about! http://bit.ly/2Gncnjv

Fountain Hills sound ordinance may see changes. If it’s a sound ordinance, why change it? OR: When is a sound ordinance not a sound ordinance? ANSWER: When it causes “confusion.” Fountain Hills Times reports that while “noise regulations were overhauled” in 2016, “town staff has identified a couple of minor points of confusion.” And one of the proposed tweaks involves “start and stop times of construction activities.” http://bit.ly/2GoK7gx

[OPINION] It’s time to turn up the heat on summer tourism in Arizona.“In the Phoenix area and beyond, tourism takes a sharp nosedive during the summer. A big reason for that is nobody plans any major events over the summer. It doesn’t have to be this way.” Arizona PR  veteran Jason Rose and prominent road-race organizer Chris Giles have a few ideas on how to turn the Valley’s triple-digit hibernation into an endless winter wonderland for tourism —  in Paradise Valley Independent. http://bit.ly/2J6oVxF

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

The Third Annual Stella Artois Derby Dayclub returns May 5th – http://bit.ly/2GCrFEq

 



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

The miserable commute in the Valley.  A study by Best Mattress Brands has found that Phoenix is among “10 metro areas” that “on average had the highest percentage of commuters leaving before 5 a.m.” STAT STUNNER: A 90-minute commute each way to work = one month per year spent in the car. USA TODAY.  OTOH, direct from a member of the Dealmaker Astute Observation Dept. comes this: “My guess on this is that Phx has people who leave prior to 5 NOT bc it is alongcommute but bc they are in the constructon trade biz or real estate which necessitates very early start times as the wesather gets hot later.” (FYI: We’ve since enrolled the author of that note into our “Better Texting While Walking” Seminar.). http://bit.ly/2GqNYK9

Arizona lawmaker accused of cribbing wordage on drugs, water.Plagiarism. That is the charge against Sen. Juan Mendez, D-Tempe, accused of lifting material “without attribution” for “answers to a 2016 candidate questionnaire…”AZCentral (RELATED: “Phoenix police: No charges against Tempe Councilman Kolby Granville” and “Lawmaker: Prosecutors investigating ‘sexually explicit communications’ tied to House probe.”). http://bit.ly/2GmxoyS

Legislature nullifies Tempe call to reveal political contributions. “Nine of 10 Tempe voters called for lifting the curtain on secretive money in city elections, but lawmakers this week passed a bill that would stop that.” HB 2153 sponsor, Rep. Vince Leach, R-Tucson: “Lots of people in my district want the right to remain anonymous and that’s who I’m here to represent.’ ”  AZCentral. http://bit.ly/2pSfv0V

They don’t represent ‘hush.’ “Democratic Rep. Isela Blanc said before being sworn in to represent Tempe’s Legislative District 26, she got some questionable advice: ‘Sit back. Watch. Avoid talking.’… She didn’t take the advice very seriously though.” And neither have her fellow Democratic House freshmen, as they “break tradition” and “turn up the ‘volume.’ ” Arizona Capitol Times. http://bit.ly/2GoWQ76

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