The Dealmaker: 5/24/18

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

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Mesa mayor supports Mormon Temple, neighborhood renovation. And with “the city’s proposal for a downtown Arizona State University campus,” Mayor John Giles “anticipates a dramatic transformation of downtown Mesa, with several other major projects getting built and light rail fulfilling its promise.” Mayor Giles: “We will look back at this someday as the new beginnings of downtown Mesa.” East Valley Tribunehttp://bit.ly/2kkCezs

Phoenix looks to sell midtown parcels near light rail for new development. “The city has issued [RFPs] for developers or other users to buy [two] municipal-owned parcels on Holly Street in between Central and First avenues.” PBJ has lot sizes, asking price, plus info on the type of “innovative development” the city is seeking. http://bit.ly/2IO1eK8

April new home sales inch down 1.5%, stay close to post-recession high. “Even with this minor dip, new home sales continue to trend upward and reflect builders’ overall confidence in the market,” reassures NAHB Chairman, Randy Noel. Senior Economist, Michael Neal, also pops in with a bit more perspective; plus, get the regional breakdown and see how big the drop was here in the West — all at NAHBNowhttp://bit.ly/2x9npZT

Next U.S. recession will begin in 2020, says Zillow study. That’s the main thrust from Z’s Home Price Expectations Survey, which “asked more than 100 real estate experts and economists about their predictions for the housing market, including when the next recession would begin and what could trigger it.” The “likeliest cause” of this prophesied downturn? Most say NOT the housing market! Their answer, along with the rest of the survey findings, in World Property Journalhttp://bit.ly/2KNjZxJ

Amazon and Lennar team up to show and sell smart home tech. “It’s a show-and-sell strategy for the home, the smart home products and the all-important services that go with both.” Real estate reporter, Diana Olick, talks to Lennar and Amazon execs about their hi-tech home collaboration — she also has the camera rolling for a tour of one of these “experience showrooms.” WATCH/read the report at CNBChttp://bit.ly/2Lsii9X

Sigma Contracting converts distribution center into Katerra manufacturing plant. “The project converted a 30-year-old distribution center to a modern, state-of-the-art manufacturing facility.” In AZRE, Sigma owner, Dan Hinkson, comments on the process involved in transforming the center at 624 N. 44th Ave. into what now will be a Katerra factory producing “fully-loaded wall panels, floor joists, roof joists” and more. http://bit.ly/2s4VzIi

Fountain Hills P&Z to talk assisted living facility and Park Place cellular.The main agenda item: A “controversial plan” for the proposed Fountain Hills Assisted Living facility at “Saguaro Boulevard and Trevino Drive, just north of Shea.”Fountain Hills Times reports CA Ventures “is requesting nine waivers from the C-1 zoning requirements for the property” as “the plan is generally inconsistent with the town’s General Plan.” http://bit.ly/2GMQdGX

Arizona will have plenty to show off in 2023 Super Bowl, city leaders say.“Phoenix leaders point to more hotels and upgrades at Sky Harbor… Glendale leaders say visitors will find better parking and more hotels and amenities…” AZCentrallooks at some of these upcoming “enhancements” as well as the economic benefits of “hosting the most-watched game.” http://bit.ly/2IJ5u1h

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


Do we trust a California billionaire pushing solar, or Arizona millionaires fighting for utility profits? On one hand, there’s Cali billionaire, Tom Steyer, pushing a “clean-energy initiative,” while initiative opponents “say we should think carefully before amending the state constitution using the hedge-fund veteran’s template.” Then there’s APS, which “has been the force fighting the initiative before it’s even been approved for the ballot.” Both horns of that “dilemma” have Arizona Daily Star columnist, Tim Steller, wondering: “But what’s in our interest?” http://bit.ly/2IIWYzt

Uber shutting down self-driving operations in Arizona. “The company notified about 300 Arizona workers in the self-driving program that they were being terminated just before 9 a.m., Wednesday.” This doesn’t mean, however, that it’s the end of the road for the self-driving program. AZCentral reports that “Uber plans to restart testing self-driving cars in Pittsburgh…” http://bit.ly/2J1dv0T

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