The Dealmaker: 6/22/2018

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





Fate of Phoenix Frank Lloyd Wright house uncertain after Taliesin donation falls through. (Disclosure: Rose Law Group represents Peter Sperling in preserving the residential historical character of Arcadia.) “Neighbors have been concerned about the property becoming a commercial attraction.” Rose Law Group founder and president Jordan Rose “who represents neighbors Peter Sperling, Craig DeMarco, Andy Ogan and Jim Furcini” tells AZCentral that “her clients are ‘quite relieved Taliesin won’t continue to support the effort to commercialize the house into a party/event center in the middle of their quiet residential community.’ ” —>

Home prices at least affordable level since 2008; real estate consultant Jim Belfiore explains why. Maricopa County was among the markets where “an average wage earner could not afford to buy a median-priced home,” according to the U.S. Home Affordability Report from ATTOM Data Solutions. And “affordability is likely to continue decreasing” with rising mortgage interest rates as a major culprit, says Jim Belfiore. Jim’s full comment is available in RLGR. Plus, AZ Business Magazine has highlights from the ATTOM report. So tap it!

Mortgages: Come full circle? “Homeowners are now just recovering from the debacle known as the bursting of the housing bubble.” But are we now back to the “easy credit” heyday of the early 2000s? Jordan Rose and Jim Belfiore team up in East Valley Tribune for the answer — plus other insight on a mortgage market that “is again undergoing change.”

Ducey talks business in Casa Grande campaign stop. “Gov. Doug Ducey made a campaign stop in Casa Grande Thursday, speaking with business and civic leaders trying to understand how his administration could continue to help Pinal County thrive.” PinalCentral.

Gilbert’s soaring apartment rents highest in Valley. • One-month rent growth of 1.1 • Rents up 3.9 percent since last year • A Gilbert one-bedroom topped Goodyear, Peoria and Chandler • Get a closer look at data from the ApartmentListreport in Ahwatukee Foothills News.

Glendale Planning Commission approves new 240-unit apartment complex. “The new complex [called Camelback 95] is located near the corner of Camelback Road and 95th Avenue and is currently owned by Lowe’s, which was going to build before agreeing to sell the property to P.B. Bell…” It took a rezone from “planned commercial to high-density residential” to keep the project moving forward. Details in The Glendale Star.

Most expensive home sales in Phoenix. Arizona Foothills Magazine top home sales 6.4.18- 6.10.18 totaled “over $27 million,” an UPTICK of some $6 mil from the previous week! Features seen (and not seen) in this installment: A bonus room (“We had no idea this was here!” said the new owners upon discovering it shortly after move-in), custom cabinets, 9 fireplaces (perhaps geared toward the well-to-do homebuyer with a pyromaniacal bent?), no interior steps (a favorite feature of any Flat-Earther), glass barn-shaped doors (not sure what to make of this), and a 180-degree golf course (must be hot!).

Westgate Entertainment District potential outlined after sale. “Thirty-three acres of still-undeveloped property could eventually see a boutique hotel, additional multifamily residential, office and specialty entertainment retail space in the future, according to YAM Properties…” West Valley View.

The Trinity mixed-use project ready to begin construction this fall.Situated between downtown Tucson and UA, the “project proposes two new buildings of three- and four-stories with ground floor retail, office space and rental units.” RED News reports that The Trinity will “replace unused buildings at the Trinity Presbyterian Church complex.” Tap on for rendering and details on the two-phase project. 

Construction will begin on 5th SkySong building. “With the other four SkySong office buildings at high occupancy, the SkySong development team will begin work on SkySong 5… The building will be six stories — the tallest on property yet — and will include a number of features that are new to the project.” Rendering and overview of those features at AZRE.

West-MEC continues campus buildout in Surprise. “Construction continues on a pair of new buildings with two more to follow close behind…” West-MEC spokesperson Kyle Becker, who calls the campus “a boon for Surprise,” tells YourValley: ‘The campus is expanding to meet the growing needs of Surprise, along with other cities in the Northwest Valley.”

UA Tech Park economic impact grew last year, report says. “The University of Arizona Science and Technology Park had an overall economic impact of nearly $2 billion statewide in 2017.” That’s the main takeaway from a study by VP Research & Consulting. Arizona Daily Star takes a look at the other findings from the study, including the tech park ’s local and statewide impact on wages — and jobs, jobs, jobs.

South Mountain Freeway construction: Are we almost there? “The freeway is more than halfway done from the start of the project, including design work and utility relocation.” The 22-mile $916 million “project is divided into four segments at varying stages of construction” and AZCentral “takes a look at actual construction progress.”—>

Denny Barney takes up East Valley Partnership lead. “As [Maricopa County supervisor], Barney oversees Tempe, Chandler, Ahwatukee Foothills, Gilbert, west Mesa and Queen Creek. As president and CEO of the partnership, he will oversee the economics and quality of life improvements in Tempe, Chandler, Mesa, Gilbert, Queen Creek and Apache Junction.” Ahwatukee Foothills News.

Cave Creek Planning Board recommends Soberman’s Estate. The “Commission voted unanimously to recommend approval of the Special Use Permit by the Town Council.” However, approval for the proposed treatment facility on Cloud Road didn’t come without “a list of conditions,” as well as a number of questions from “people voicing concerns.” Sonoran News.

Yavapai Downs to reopen as ‘Arizona Downs’ in PV – $2 million facelift continues. “After nearly a decade of silence, Yavapai Downs is currently undergoing a multi-million dollar facelift. And with a new look comes a new name.” The Daily Courier.

Don’t miss anything… follow multiple winner of the Arizona Republic’s tweet of the week contest, and Senior Partner at Rose Law Group and Director of RLG Renewable Energy Department, Court Rich. 

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


Fraud prevalent in signature gathering of 4 campaigns. One doesn’t have to be a handwriting expert to see why the nominating petitions for these candidates have been challenged “for alleged forgery,” and why “two of those campaigns” having already “been abolished.” One look at ten scribbled John Hancock’s on display in this Arizona Capitol Times report pretty much tells the story.

Suit to knock Ken Bennett off Republican ballot fails in court. The suit against Bennett, a former Arizona secretary of state, was filed by political supporters of Gov. Doug Ducey, arguing Bennett’s signatures are invalid. [Cap Times RELATED: “Court says Wendy Rogers may run for Congress” and “Majority of LD28 candidate Mark Syms’ petition signatures deemed invalid.”]

Senate candidates sue state, hit campaign trial“A handful of candidates for the Arizona Legislature share the distinction of suing the state they hope to represent.” Tim Jeffries and Charles Loftus — both are suing the state for libel. And what about ousted lawmaker Don Shooter? What’s the status of any legal beef he has vis-à-vis a political comeback? Find out in AZ Cap Times

Arizona ACLU worries Trump’s executive order too vague to halt family separations. An attorney for the American Civil Liberties Union said the executive order “would ‘slightly’ help families separated at the border but it will not completely end the practice.” Cronkite News also reports that “Southwest Key may be housing some children,” and that “people were protesting at the [Tucson] facility.” (Also SEE: “Janet Napolitano on family separations: ‘I don’t know how this could be justified either legally or morally,” in POLITICO.)

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