The Dealmaker: 5/10/2018

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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




AZ Corp Comm Tobin to talk energy future this Friday in don’t miss event. Solar. Nuclear. Batteries. Biofuels. Coal. Natural Gas. Wind. Few issues stir up as much controversy in Arizona today as the discussion of what will power our future economy. Join Pinal Partnership on Friday (TOMORROW!) for its May breakfast to hear Arizona Corporation Commissioner Andy Tobin present the details of his groundbreaking proposal. For a preview of the proposal and RSVP info for tomorrow’s event, head to Rose Law Group Reporter. Don’t miss it!

‘U.S. News & World Report’ ranks BASIS Scottsdale number one charter school in the nation. In case you didn’t catch wind of this big news yesterday… Congratulations to Rose Law Group client BASIS for making the top spot! Further details in U.S. News & World Report

California makes history: All new homes to have solar panels starting in 2020. “The California Energy Commission voted… to adopt the policy as part of the state’s Building Energy Efficiency Standards after working with SEIA, its member solar companies, and other stakeholders for more than two years to develop the technical requirements.” Solar Builder.

Behind the scenes of the $928M Marina Heights sale. “[The] sale of Marina Heights was a herculean effort involving a leaseback, a development agreement involving a property tax abatement, at least two partnership agreements, and, of course, ‘a typical real estate purchase deal.’ ” AzBigMedia looks at how the pieces came together to get the deal done and why we may never see another one like it again.

County OKs agreement; D-Backs can start looking for a new home. BOS’s 4-1 vote “allows the team to immediately start looking for another home in exchange for dropping its demand for the county to pay up to $187 million in stadium upgrades.” Will the deal keep the D-Backs in Maricopa County? Supervisor Chucri thinks so. But Supervisor Hickman, the sole no vote, believes that “the 30-year contract with the original Diamondbacks owners should be binding…” Wherever the D-Backs eventually end up, all we can currently say here at D-Maker HQ is: “GO D-BACKS!”

New to Market: 6 projects you need to know. Get details and view renderings for these “hospitality, retail and multifamily” developments in Phoenix, Scottsdale, Tempe and Gilbert, as featured in the latest issue of AZREmagazine.

Homes are fetching more than asking price. “Thirty-seven percent of properties that closed in March sold at or above the list price, according to the March 2018 REALTORS® Confidence Index Survey.” That’s the national view. What about numbers for us here in Arizona? REALTORMag has the heat-map data.

Analysis: Arizona has the 15th highest foreclosure rate for first quarter. That’s because the “foreclosure rate in the state is up 8.06 percent from the end of 2017.” The good news? The rate is “down 5.07 percent from a year ago,” according to ATTOM Data Solutions. Get a state-by-state rundown and access ATTOM’s full report at Arizona Business Daily.

Flagstaff home sales volume sets record for first quarter. Does a “dry winter” deserve much of the credit? Industry locals give their takes on Flag’s record-setting Q1 — factors behind the “boost” and how the “increasing prices and hotmarket can be difficult for buyers” — in Arizona Daily Sun.

HOA tells new Florence church it must remove crosses. “Decorative blue flower pots, Christian crosses and temporary signs at the future Mosaic Church of the Nazarene at Merrill Ranch Parkway and Felix Road are not part of the original property plan and must go, according to the Anthem Parkside HOA.” Florence Reminder.

Glendale homeowners win free pool fence. The “first winners of the 2018 Fulton Homes Fence Patrol contest” will receive a new pool fence from Fulton Homes. Fulton’s “Fence Patrol highlights the importance of always watching children around water…” Read the winning couple’s story in The Glendale Star

Research team develops interactive walls. —> Transforming them from “inactive room dividers into ‘active parts of our living and work environments.’ ” The “smart surface,” called Wall++, “could be used for things like placing wall switches in different locations, automatically adjusting light levels when the TV is turned on, tracking the status of devices” and much more. Read about it in ConstructionDIVE.

Neighbors Close-Up: Pollack, sidekick go back to teens. (Disclosure: Rose Law Group represents Michael Pollack in various capacities.) PR director and broker Patrick Cassidy first met developer/entrepreneur Michael Pollack back in 1976 on a construction site, just moments before a knockdown-dragout ensued between “plumbers and electricians.” The dust cleared. Pollack and Cassidy have been friends ever since. Wrangler News.

K12 procurement law change sends shocks. AZBEX’s Roland Murphy looks into the education funding legislation “signed by Governor Doug Ducey last week,” a section of which has “received little to no attention” but has “sent A/E/C professionals around the state into a tizzy.”

AAED announces winners of EDDE Awards. “Arizona Association for Economic Development has announced the recipients of its annual Economic Development Distinguished by Excellence Awards.” However, due to space limitations and in the interest of fairness, Dealmaker will refrain from identifying the winners — naming just a handful wouldn’t be fair to all 10 who won. Oh, what the heck… Way to go, Gilbert! Congrats, Queen Creek! Nice job, Casa Grande! Mad props, Mesa! Pinal County, you rock! The complete list of winners and awards in AZ Business Magazine.

The Amazon effect may not be as big as you think. “Large markets might see very little impact on rents, according to CoStar Group estimates.” Multifamily Executive via Builder.

Jordan Rose, Rose Law Group founder and president, moderating upcoming Valley Partnership panel on valley labor shortages.


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

Waymo’s self-driving car service coming in Phoenix later this year. “Waymo already has self-driving cars in Phoenix, but launching a service means anyone in the city will be able to download the Waymo app and hail an autonomous vehicle. Waymo won’t be requiring someone to sit in the driver’s seat, either.” More on this “huge surprise” in VentureBeat.

McCain urges Senate to reject CIA nominee Gina Haspel over torture, morality. Sen. John McCain: ”I believe Gina Haspel is a patriot who loves our country and has devoted her professional life to its service and defense… However, Ms. Haspel’s role in overseeing the use of torture by Americans is disturbing.” More from Sen. McCain at AZCentral

Judge lets stand bribery charges in Johnson Utilities case; trial to start May 30. “A federal judge has rejected a bid by a former utility regulator [Gary Pierce], his wife [Sherry Pierce], a lobbyist [Jim Norton] and a utility executive [George Johnson] to throw out criminal charges against them… concluding that there’s nothing inherently unconstitutional about federal laws which make bribery a crime.” By Capitol Media Services/Howard Fischer in San Tan Valley Sentinel.

‘Ballot harvesting’ ban to stay in place. “A federal judge won’t overturn a law that makes it a felony to bring someone else’s early ballot to a polling place. In an extensive ruling, Judge Douglas Rayes said there’s scant evidence that the 2016 law will impose a hardship on the vast majority of people who vote.” By Howard Fischer in PinalCentral.

Grassroots school group to tackle ‘dark money’ measure. “The group responsible for forcing a public vote on the future of vouchers will now help a bit to block ‘dark money’ in future political campaigns. But it won’t be backing a plan to hike taxes on the rich to help fund schools.” That’s because the plan “appears more divisive — and more partisan — than [the] organization likes.” By Howard Fischer in Arizona Capitol Times.

House members use rare maneuver to try to force vote on legislation to protect DREAMers. “Democrats in Congress tried several times to pass permanent protections for DACA recipients, even prompting a brief government shutdown in January. But now a handful of moderate Republicans are trying to restart the DACA debate in the House.” USA Today.

Arizona Supreme Court to consider use of effluent at Snowbowl. “In a brief order, the justices agreed to hear arguments by Snowbowl and the city of Flagstaff that an intermediate level appellate court got it wrong in concluding the [Hopi] tribe has the legal standing to claim that the effluent is a nuisance.” By Howard Fischer in Arizona Daily Star.

Signs of the times in Casa Grande. “Casa Grande will soon illuminate the city’s history with a new downtown park featuring its orphaned commercial signs.” The “new park is a gas – neon gas, specifically,” reports PHOENIX magazine in a well-written piece overflowing with dazzling colors.

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