The Dealmaker: 4/5/2018

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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

 

 

‘Slow down’: Phoenix halts downtown arts, entertainment district proposal. On the heels of Hines announcing a project that it said “could bring office, retail, cultural amenities,” and a “better walking experience” to “Talking Stick Resort Arena,” the Phoenix City Council has “voted to withdraw Hines’ request…” However, the vote is more of a “not yet” rather than a “get outta town!” Details at AZCentral. http://bit.ly/2Ejltfz

Despite rent increases, Phoenix remains least-expensive city for apartments in the Valley. That, according to Apartment List in its April 2018 Phoenix Rent Report. Despite the market “growing slightly faster than the national average,” prices have held “steady from last month” and PBJ reports that real estate consultant Jim Belfiore expects even more market “flattening” in the future. http://bit.ly/2q91GKx

Paradise Valley looks to put a finer point on Hillside development. “Since July 2015, local leaders have eyed updating the Hillside building code…” Now, the town is “moving forward” with that update, “looking at a series of 19 amendments to the existing Hillside code, with “safety” as “the driving force.” Paradise Valley Independent. http://bit.ly/2GXs8kI

Youngtown to consider development. “Despite earlier opposition, Sun City residents reached agreement with [Strategic Development of North America] who plans to build [125 one- and two-story homes] in Youngtown adjacent to the Rancho Estates.”YourValley reports that while “residents believed they had little choice, they are happy with the concessions they received from the developer” — such as eight-foot walls and “crash gates.” http://bit.ly/2IwsuMw 

Zillow: Steam showers sell homes. “So do pizza ovens, professional appliances, hardwood floors and pet showers,” according to Zillow’s 2018 Home Features that Sell analysis. Head to Builder to see the “home features, amenities and design styles” that help close deals in various metros. http://bit.ly/2Iwu0hM

Shopping malls are getting emptier. • Large mall vacancy rate highest since 2012 • Smaller centers also saw vacancy increases • Absorption was the lowest for any quarter in the last five years • Foot traffic so scarce that some mall directory maps read “You Are NOT Here” • Kidding • Check out the study from real estate data firm Reis Inc. in REALTORMag. http://bit.ly/2Jn9cdV

Club West owner: ‘I have a golf course to protect.’ In a “wide-ranging interview” with Ahwatukee Foothills News, Club West Golf Course owner Richard Breuninger gives “his account of his stewardship” of the “troubled site” saying that he’s “working to save it and his ownership of it.” http://bit.ly/2H00rYC

Gilbert may have new university for empty Saint Xavier building. “Park University may begin offering classes this fall in a downtown Gilbert building that Saint Xavier University vacated in 2016. The private, liberal arts” school has “43 campus centers around the country, including at Luke Air Force Base in Glendale and Davis-Monthan Air Force Base in Tucson.” Details on terms of the potential deal at AZCentral. http://bit.ly/2En8CsA

Falcon Field shares master plan, expects more growth. In the first of three workshops, airport “tenants and residents of Maricopa County” got a “look at the business Falcon Field” in Mesa “has brought in thus far, as well as potential projections of how many airplanes will fly in and out of the airport in the coming years.” East Valley Tribune. http://bit.ly/2uU699O

Arizona’s aquifers threatened. “In several Arizona communities, that finite source of water is in danger of being over-tapped. Water experts and environmentalists say that’s why the state needs tighter groundwater restrictions. But some power brokers in the Arizona Legislature want to do the opposite.” KEY QUOTE: “We also have to have development and we have to have lives.” (RELATED, also from AZCentral: “After dry winter, Colorado River forecasters look for 6th-driest runoff year.”) http://bit.ly/2GZKtxN

County to accept San Tan Valley incorporation petitions. “State statute says that declarant communities must give permission for an area to incorporate, which Shea Homes denied to San Tan Valley. But county Board of Supervisors [in a move that appears to be more procedural than anything else] decided that it will still accept the petition signatures for the incorporation effort.” San Tan Valley Sentinel. http://bit.ly/2GCiFQA

Casa Grande council hears economic development plan. “Retaining and growing existing businesses needs to be Casa Grande’s top priority when it comes to economic development.“ That’s what “Ioanna Morfessis, owner of the consulting firm IO.INC told city council members” on Monday. “An exact plan… wasn’t laid out at the City Council meeting; however, Morfessis has provided the city with the steps she suggests for ways the city can grow.” Casa Grande Dispatch has the overview. http://bit.ly/2Hgl9Bq

Tolleson hosts its first State of the City address. March 27, 2018 will go down in Tolleson history as the date that Mayor Anna Tovar gave the very first State of the City address. In her speech, Mayor Tovar highlighted such achievements as: The “new Marriott hotel and retail space,” the “91st Avenue expansion, a new city hall and city complex, a beautification plan, a senior center and parks and recreation center, and the new home for Veterans of Foreign Wars Post 6310.” West Valley View has the recap. http://bit.ly/2q8hUDW 

Turf Paradise Kentucky Derby Party returns May 5th – http://bit.ly/2GXPWoL

 



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

Paradise Valley Vice Mayor Jerry Bien-Willner announces candidacy for mayor in August 2018 election. Jerry Bien-Willner has announced his candidacy for Mayor of PV. The two-termer has been a key voice on important issues such as public safety, fiscal responsibility, resort and residential development, and governmental transparency and accountability. All that (and more) has earned Bien-Wilner a broad spectrum of endorsements from community leaders. The full news release/announcement in Rose Law Group Reporter. http://bit.ly/2GzGmck

Solar advocates appear to have bounced 2 incumbents off SRP board.“The results mean that now four of the 14 board members were elected on a campaign pledge to push for increased use of solar, wind and other renewable energy sources at the utility. Two other solar advocates won seats on the board in 2016, and now all non-acreage-based board seats are filled by renewable-energy advocates.” AZCentral. http://bit.ly/2GGuCRu

‘It’s time we get serious’: Governor, ranchers support Trump’s plan to militarize border. With smiles and words of praise (“Outstanding”), Arizona ranchers welcomed President Trump’s “proclamation to deploy National Guard troops from the four states along the southern border”— and Gov. Doug expressed his support in a tweet. Meanwhile, some are wringing hands over the idea. (RELATED, also from Cronkite News: “Ducey welcomes Trump plan to sent National Guard troops to border.” And there’s this from POLITICO: “Arizona lawmaker: I’ll ‘gladly’ work with Trump on immigration ‘when his ideas aren’t stupid.’ ”) http://bit.ly/2EjxBND

Ducey’s safer schools plan faces barrage of criticism from legislators. And Capitol Media Services’ Howard Fischer reports that the “barrage” is coming from both sides of the aisle: House and Senate Democrats “because it doesn’t require background checks when firearms are sold by individuals and at gun shows”; “Republicans, who are anxious about provisions allowing police officers to seize guns and courts to hold people for psychological evaluation.” In Arizona Daily Starhttp://bit.ly/2Hel5BS

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