The Dealmaker: 4/2/2018

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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




The Rio Reimagined: Arizona’s leaders support Salt River bed development pushed by McCain. Movers and shakers gathered Friday to “unanimously support” a “development that would stretch 45 miles across metropolitan Phoenix — traversing six cities and two Native American reservations — that would bring life back to the Salt River bed.” Highlights from the event and a closer look at how Rio Reimagined has the “potential to substantively alter the face and culture of the region” —at AZCentral.

Valley’s residential sector see homebuilding momentum. (Disclosure: Rose Law Group represents Fulton Homes.) Belfiore Real Estate Consulting says homebuilders “should prepare to have a rush of demand throughout 2018.” One homebuilder fully prepared for the home-buying blitz is Fulton Homes. AZ Business Magazine reports that company CEO Doug Fulton “is very encouraged by what he sees in his sales offices…”—>

For the first time in years, metro Phoenix apartment rents didn’t rise. “Renters are finally getting a bit of a reprieve” as rents remained FLAT “in most parts of the Valley last month” after several years of “rent sticker shock.” AZCentralRE reporter Catherine Reagor also notes that “Gilbert, Chandler and Avondale even saw slight dips in rents in February,” and that renters can “thank the many new apartment complexes opening up.”

HOMEOWNERSHIP: A HARI SITUATION? – ULI: More than 1 in 4 renters has income for homeownership. “A new measure” from ULI — aptly named the “housing affordability for renters index” (HARI) — “indicates that homeownership in cities traditionally considered among the most unaffordable… is more within reach for local renters than some other metrics have shown.” Just how HARI are things for renters in Phoenix-Mesa-Scottsdale? Find out via Multifamily Executive

The Potato Barn in Gilbert will undergo restoration project. “New owners, the Smith family, are hoping that by adding two additional buildings and 24,000 additional square feet [and renaming it The Higley Barns], it will become a space for restaurants and family-friendly home improvement shops… a gathering place for the community” at Williams Field and Higley. KTAR.

Pima may be skirting laws with Amazon NDAs. Last week, AZBEX “broke news” about the Amazon “fulfillment and distribution center” planned for the “Century Research Park/Port of Tucson.” Now, “no one will talk about” Project Wildcat, due to “non-disclosure agreements.” All the “hush-hush” has AZBEX’sRoland Murphy seeking to find out if a “government agency or entity” can “contract away the public’s right to know by entering into [an NDA] with a private corporation.”

Paradise Valley town council considering a roundabout to ease traffic.Officials are looking for “ways to divert and ‘calm’ an expected increase in traffic along Indian Bend Road caused by the construction of a new project connected to the Ritz-Carlton Paradise Valley Resort.” Details and rendering of the proposed road-dieting roundabout in PV Independent.

What to know about 120-acre park coming to north Peoria. “The park is envisioned to cover 120 acres tucked at the base of West Wing Mountain on Lake Pleasant Parkway and Loop 303.” AZCentral calls it a “complicated site.” Tap on to find out why, plus view the rendering and check out the amenities for his yet-to-be-named park.

…UNDER TROUBLED BRIDGES – Portion of Scottsdale 68th Street Bridge deemed unsafe for public transport. “Exposed re-enforced steel was discovered in January on the underbelly of the 68th Street Bridge that spans the Arizona Canal just north of Indian School Road.” Scottsdale Independent reports that this “delamination or spalling” — and the “rusting” that has resulted — has “city officials urgently seeking funding solutions” to replace the bridge.

Peoria State of the City: Nothing but net. Quality development and investment. Reuse and redevelopment. The P83 entertainment district. Peoria Sports Complex. Those were among the “visions” and “achievements” that Mayor Cathy Carlat focused on in her “fourth State of the City address.” Get the recap in this Peoria Times report, which describes the speech as “one good news byte after another.”

The Third Annual Stella Artois Derby Dayclub returns May 5th –

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

Opioid prescription rates dropping across Arizona, nation. “Opioid prescription rates across the country have been declining since their peak in 2012, according to data collected by the [CDC]. The 2016 national prescription rate was the lowest in a decade at 66.5 per 100 people.” Report highlights and heat-map numbers for Arizona, at Axios. 

Secret money in Arizona is a monster, says a retiring lobbyist. “In my 33 years in Arizona politics and government, dark money is the most corrupting influence I have seen.” — Chris Herstam, a former Republican majority whip in the Arizona House of Representatives and now a retiring lobbyist. In a little-publicized 2016 report titled “Secret Spending in the States,” the Brennan Center for Justice analyzed dark money spending in America. Senior Reporter/Writer Phil Riske looks at how those “findings still reverberate today.”

Context explains why 2 Arizona Democrats took Trump’s side. “Reps. Kyrsten Sinema and Tom O’Halleran each voted with the Trump administration’s preferred position on 10 of 11 key votes, as tracked by the website FiveThirtyEight. That topped the support Trump received from Republican U.S. Reps. Andy Biggs, Paul Gosar and David Schweikert.” Reasons for the “common ground”? AZCentraltakes a look.

Legislature considering resolution to increase Arizona districts, therefore more lawmakers. Cap Media Services Howard Fischer reports in PinalCentral that SCR 1010 “would mean at least 33 senators and 66 representatives — there are two for each district — after the 2020 census. The Arizona Constitution now has a hard and fast cap of 30 and 60, respectively. It is that cap that concerns Sen. Warren Petersen, R-Gilbert.”

WalletHub ranks Arizona on how taxes are turned into government services. Do ”people in high-tax states receive superior government services”? Are “low-tax states more efficient or do they receive low-quality services?” When it comes to education, health, safety, economy, and infrastructure & pollution, “where do taxpayers get the most and least bang for their buck?” —>

I downloaded all my Facebook data. This is what I learned. This week, USA TODAY  tech columnist Jefferson Graham “downloaded the data” that  “Facebook compiled about [him] over the years.” What he found was “spooky.” Curious about “what Facebook has on you” or how to protect your Facebook info from “third-party apps”? Tap on:

Poll: Public energy fears at two-decade low. “New Gallup polling finds that 25% of American adults are greatly concerned about energy prices and access, which is the lowest level — albeit by a hair — in 18 years of their polling on the question.” Axios.

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Skanska engaged in Phase One of EdgeCore Mesa construction Read more

Lennar to Sunset Farms Read more

Estrella Bolsters Home Builder Portfolio With Courtland Communities Debut Read more

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April 2018