The Dealmaker: 5/29/2018

Are we there yet? Metro Phoenix home prices near 2006 record; only one ‘wildcard’ could slow price growth, says real estate consultant Jim Belfiore. AZCentral: “The forecast is for the area’s median to reach $260,000 in May… And then it’s only a few more thousand dollars to bust the record.” Jim Belfiore comments in Rose Law Group Reporter: “Phoenix-Area home price appreciation is likely to continue to grow, with anemic supply and an enormous population of ‘re-emerging’ and millennial buyers finally making the decision to buy. The only factor likely to slow price growth is the less predictable rising interest rate environment.” http://bit.ly/2IVfDbt

Arizona Eco’s 3,300-home proposed development draws more public outcry. “[Arizona Eco Development CEO] Jason Gisi calls the land surrounding the iconic rock spires in Prescott’s Granite Dells ‘a wonderful piece of property’ – perhaps ‘the best in Northern Arizona.’ ” Open-spacers agree, but have a different goal in mind. Last  week, they along with other “members of the public again voiced their concerns about the pending development, and its possible impact on the area.”The Daily Courier. http://bit.ly/2xqRLqM 

Paradise Valley begins to dissect Lincoln and Scottsdale development rejuvenation. “[L]ocal officials and real estate pros filled nearly ever empty seat” for a study session that included two topics. “The first is for a major special use permit amendment for Lincoln Medical Plaza… The second is a major special use permit amendment for SmokeTree Resort,” which PV Independent reports “has proposed density levels not seen before…” http://bit.ly/2L7dWnP

Developers are bringing Crystal Lagoons amenities to U.S. multifamily communities. “U.S. developers are dipping their toes into an amenity that’s been popular in other countries for years: large-scale, man-made water features.” And one of Chili-based Crystal Lagoons’ “big six” target markets? ARIZONA. Think “Big Surf” but BIGGER — and sans the surf. “More than 600 Crystal Lagoons water features are underway or have been completed in 60 countries.” Check out a few in Multifamily Executive. http://bit.ly/2IZ1fLd   

WEST MEETS EAST – Time for the West Valley to get into resort market? “West Valley leaders say the region’s exponential growth and uptick in occupancy at area hotels means the time is right for a potential resort. Not to mention a just announced Super Bowl in Glendale in 2023…” Glendale Economic Development Director Brian Friedman: “Everything that’s available in the East Valley, our goal is to have that immediately available in the West Valley.” AZCentral. http://bit.ly/2LFfOoZ

No more same-old, same-old: Upper West Side group fights against chains, big boxes. “Upper West Side PHX, is a grassroots community movement encouraging specialty shops and restaurants to locate to the Northwest Valley.” YourValley reports that the group has been working with developers “to make sure they follow through on their promises to bring specialty shopping, dining, entertainment, and community gathering places to help establish a sense of place.” http://bit.ly/2L6BQQb

Queen Creek annexation proposal divides San Tan Valley. “A map for the annexation of the Encanterra gated community and the surrounding neighborhoods… includes an area substantially larger than the subdivision, causing controversy and feeding criticism that Queen Creek is on a land-grabbing spree.” The report — and the map — in San Tan Valley Sentinel. http://bit.ly/2LIzath

Phoenix removes Hance Park design sketch after discovering hidden Drake meme. “City officials aren’t amused that a meme featuring the rapper Drake in a wheelchair somehow made its way into the proposal for revamping Margaret T. Hance Park.” Phoenix New Times has the story, including a Wheelchair Drake image — BEFORE and AFTER it was removed from the rendering. (As for Drake, New Times staffer Antonia Noori Farzan apparently tried a “Hotline Bling” but says the rapper “could not immediately be reached for comment.” No word yet if Farzan is thinking, “And he used to call me on his cell phone!”) http://bit.ly/2H2lwh1   

Historic Mining Camp Restaurant to remain closed, owner Fugate says.The historic AJ restaurant was “destroyed in a fire last summer.”  Here’s just a snippet from owner Vinton Fugate’s Facebook post: “[I]t’s been an emotional heart-wrenching time for us, after long debate, we must close this chapter with much optimism and move on in our lives…” Read Fugate’s full post in Apache Junction Independent. http://bit.ly/2spnQJT

Phoenix, Buckeye among biggest-, fastest-growing cities in U.S. in 2017.ICYMI on Friday, here’s another look at data from the Census Bureau’s “2017 City/Town Population and Housing Unit Estimates,” this time from Cronkite News. http://bit.ly/2L6D79V

Flagstaff council, mayor? Who’s in, who’s out for Flagstaff council, mayor? “So far, 11 people have been circulating petitions to run for three available council seats and only incumbent Coral Evans has been circulating petitions for mayor…” Arizona Daily Sun has rundown of those (still) in the race. http://bit.ly/2shgNnn