D.R.’s ORDER – $79 million is successful bid for State Trust land in NE Phoenix. After a bidding war ensued between D.R. Horton, Shea Homes, Lennar, and Blanford Homes (one observer tells Dealmaker that the bids, in the end, were going up, up, up in $100k increments), D.R. Horton “won” 269 acres of State Trust land at significantly higher than the appraised value. The land is located NE of Desert Ridge Marketplace, east of 56th St. and north of Deer Valley Pkwy. The Arizona State Land Dept. issued a media release on the bid, and Rose Law Group Reporter has it: http://bit.ly/2vPaEmh
Lucid CEO says production will start in Casa Grande in ’24. “According to a report published in Charged magazine, Lucid CEO Peter Rawlinson says the company is ‘about two years out’ from being able to deliver the Lucid Air, an electric vehicle that will be built in Casa Grande.” More in Casa Grande Dispatch. http://bit.ly/2r0pKQc
Maricopa council OKs rezoning for 776 acres against staff’s recommendations. (Disclosure: Rose Law Group represents the property owner.) Maricopa Monitor with news Dealmaker broke yesterday regarding Maricopa City Council’s unanimous approval of a rezone for Anderson Russell PAD. City staff recommended against, but Rose Law Group Senior Partner Court Rich stepped up with a “counter-presentation” that jelled with “council’s vision” of “creating a place to work, play and do business.” http://bit.ly/2FgIro5
Pulte reports $171 million Q1 profit. Details on closings, orders, and backlog increases — plus PulteGroup president and CEO Ryan Marshal weighs in on “the strong underpinnings of this housing recovery,” in Builder. http://bit.ly/2r2gZ9b
Meritage blows past analyst estimates with 43.9 million Q1 profit. Closings rise, orders up, backlog climbs, and analysts’ expectations dashed — plus Meritage CEO Steven J. Hilton comments on his company’s “strategic shift,” in Builder. http://bit.ly/2Jwy2qX
Robson Ranch wins house design award. “Robson Resort Communities was recognized by the Home Builders Association of Central Arizona during its annual Major Achievements in Merchandising Excellence Awards [winning] this year’s Best Detached Active Adult Product Design Under $300,000 for its Fresco model at Robson Ranch.” Photo and a bit more on the winning home in PinalCentral. http://bit.ly/2r1Cy9e
New homes come to Coolidge. “The rise in building permits comes after a period of time with very few to almost no permits…” And if that isn’t enough great news, there’s this: “In the hopes of spurring on more development projects, the city is currently working on lowering the impact fees.” The story on how the housing market in the city is “slowly making a comeback,” in Coolidge Examiner. http://bit.ly/2r2sTQt
Eloy approves more housing, road projects. “The City Council Monday approved road improvement projects and agreed to continue the Owner Occupied Housing Rehabilitation program… Overall, city officials believe that if they can improve some of the homes throughout the community not only will it improve the community but also encourage more economic development.” Eloy Enterprise. http://bit.ly/2vP3yOZ
Flagstaff: 231-unit apartment complex proposed on Butler, Sawmill. “Asset Plus Corporation, a Houston-based developer, is requesting the city council rezone the property from light and heavy industrial use to allow [two five-story residential buildings] and commercial uses… Asset Plus is under contract to buy the site, contingent on whether the city council grants the rezoning request.” Further details and renderings at Arizona Daily Sun. http://bit.ly/2HNbJA7
17% of adults plan to buy home in next 12 months; many for the first-time. <—That is the main finding from the very “first edition of the Housing Trends Report, a new research product created by the NAHB Economics team with the goal of measuring prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets.” Highlights along with link to the full HTR at Eye On Housing. http://bit.ly/2HuGPca
Why high-flying U.S. home prices are about to get another jolt. “The U.S. housing market’s storyline for the last several years has been one of steady demand and limited supply, pushing prices ever higher. Now, a new chapter has opened up for the industry and its customers: Soaring costs for building materials.” Bloombergvia Builder. http://bit.ly/2Fhvla8
The single-family house: An American icon faces an uncertain future. “In a little more than a century, the single-family house helped make America something new in the world: A nation of suburban homeowners… But now, demographic, political and meteorological changes are calling the future of the single-family house into question.” (Around Dealmaker HQ, we’re not buying into that premise, especially since some of us have recently been totally schooled on how hot the single-family housing market actually is! So if you’re feeling like we are and would like to push back on this piece, please direct your comments to its author: Rick Hampson, national reporter at USA TODAY.) http://bit.ly/2HYKNgy
WalletHub’s 2018’s Best Places to Be a Real Estate Agent. WalletHubcompared “cities across 18 key indicators” with a “data set” that “ranges from sales per agent to annual median wage for real-estate agents to housing-market health index.” WalletHub’s findings include “advice and insight from experts and a full description of” WalletHub’s “methodology.” And, in case we failed to mention it, the full WalletHub report, including heat-map results for Phoenix and vicinity, can be found at WalletHub. http://bit.ly/2r16iUm
Orbital ATK breaks ground on 47-acre campus in Chandler. “[L]eaders from Douglas Allred Company, Willmeng Construction, Balmer Architectural Group and Orbital ATK joined officials from the City of Chandler, Arizona Commerce Authority, East Valley Partnership and Arizona State Senate to break ground on the Orbital ATK Launch Vehicles Headquarters in Chandler along the Price Road Corridor.” Details and rendering of the project along with coverage of yesterday’s event — including a shot of shovel-ready groundbreakers — in AzBigMedia. http://bit.ly/2Kiubib
Construction finishes on ASU Biodesign Institute Building C. “The new, 188,000-square-foot research facility [‘east of Biodesign B on ASU’s Tempe campus’] has space for laboratories, lab casework and office areas. The building is five stories and includes a basement that will house the world’s first compact X-ray free-electron laser.” Images and more at AZRE. http://bit.ly/2vO0Adj
Skepticism swirls amid Grand Avenue building sales. “The owners of Tuft & Needle… may have inadvertently caused some confusion with its real estate dealings here. A recent announcement that the company had sold its Grand Avenue corporate headquarters and retail showroom building had locals wondering: Was the mattress powerhouse relocating? Downsizing? Neither, it turns out, is true.” Phoenix New Times. http://bit.ly/2vO0YbL
Leaders discuss Surprise City Center plan, again. Just over a week ago AZCentral previewed this discussion. Now, YourValley recaps the April 17 powwow, and reports that while it “offered some new details of plans [that] might accelerate real estate investment,” there were some “long-held tensions… on display in a meeting often punctuated by loud accusations over who is to blame for the slow pace of investment in the property…” http://bit.ly/2r33LrV
It’s official: Maricopa has a new city manager. “The city council Tuesday officially approved a contract to hire Ricky Horst as its new city manager, agreeing to terms that would begin on June 25 and run through June 24, 2021… Horst was selected over the other finalist, Nicole Lance [who] is currently the assistant city manager of Surprise.” Maricopa Monitor. http://bit.ly/2HvZGI9
Florence nixes town assistance for chamber strategic plan. “The Town Council unanimously declined to provide… funding to hire a consultant to help the Greater Florence Chamber of Commerce develop a strategic plan.” Reasons for the “no thanks,” plus info on other council business, including action regarding Johnson Utilities and public comment on the annual Historic Preservation Conference — in Florence Reminder. http://bit.ly/2KcQshn
Eloy officials celebrate groundbreaking for new city hall. “Giddy” is how Eloy Enterprise describes those attending the April 19 groundbreaking for a project that “has been a long time coming with two years of design and planning, as well as discussions for many years before that.” Among the dirt turners: “Eloy Mayor Joel Belloc, City Council members, city staff and representatives from Project Management Abacus, SmithGroup JJR and Core Construction.” http://bit.ly/2I2FhaC
Here’s why Phoenix is one of the best places to live if you love Amazon. Shorr Packaging Corp. and Digital Third Coast analyzed “the 25 best places to live if you love Amazon. Phoenix came in at No. 3 on the list… [and] it has to do with 11 elements of Amazon’s ever-growing sphere of influence…” READ ON with a couple clicks to PBJ. http://bit.ly/2I6F3PP
Almost Here, Kentucky Derby Party at Turf Paradise, May 5th – http://bit.ly/2HW1U0b
