The Dealmaker: 6/26/2018

2nd phase of sales launch at Ritz-Carlton Residences. Thirty-nine ‘ritzy’ residences • 5,500 to more than 12,000 sq. ft.• From the low $5 millions • No two neighboring homes will look alike • More news release details on the launch of the single-family Estate Homes collection at AZRE. http://bit.ly/2tMpZQD

Developer drops plans for controversial Gilbert four-story apartment complex. “At the crux of the debate was whether the complex planned near the intersection of Higley and Baseline roads met the town’s criteria to build a multifamily property… The proposal has drawn emotional and heated opposition” — fears that Gilbert was “becoming Los Angeles”; one opponent nearly brought to “tears.” How will Barclays Group “proceed” now that it’s thrown in the towel on the project? At this point, details are a bit murky. AZCentral. http://bit.ly/2Kn9GEa

Sedona P&Z hears plan for 30-home development. “An application to subdivide this property [‘off Bristlecone Pine’] was originally filed in June 2006.” Last Tuesday, P&Z finally heard “a conceptual review for the property.” However — and what seems to be par for the course as far as this project goes: “No action was taken…” What’s up with the 12-year delay? How much longer “before a shovel goes into the ground”? Find out in Red Rock News. http://bit.ly/2Itoj3q

Housing optimism steady, but possible trouble on the horizon. “NAR’s second quarter [HOME] survey found that 68 percent of people think it’s a good time to buy — statistically, pretty much the same as in the first quarter.” As for “optimism several years ahead,” DSNews reports the outlook is “a little less bouncy.” —> http://bit.ly/2K9RWge

Why new homes are getting pricier. Forty-three percent of prospective homebuyers say they’re reluctant to make a new home purchase, mainly because they’re “unwilling to pay enough to cover current construction costs.” Single-family homebuilders point the finger at lumber prices and, to a lesser extent, labor shortages — in REALTORMag. http://bit.ly/2KoIZ1H

Foreclosure starts rise in 43% of markets. “A total of 33,623 U.S. properties started the foreclosure process in May.” REALTORMag has the repossession rundown, including heat-map results for Phoenix, Tucson, Prescott and Yuma, courtesy of ATTOM Data Solutions. http://bit.ly/2yKfh2D

Sundt jumps to No. 65 on Top 400 Contractors List. “Sundt was highlighted by [Engineering News Record] for its programs to attract and retain employees.” CEO and chairman, G. Mike Hoover: “Sundt’s movement on the list [climbing ’32 spots’] reflects what a strong year it was for the company and our employee-owners.” Tap to AZRE for Sundt’s revenue figures, contributing projects, plus a handful of OTHER lists where the company ALSO made a strong showing.” http://bit.ly/2MY25tX

Neighborhood concerns put Mesa’s attention on group homes. The residence located on “Pomeroy Street in Mesa” is “at the center of a dispute between” a would-be manager of a halfway house for paroled cons” and a next-door neighbor. It’s a “conflict” that has “spilled over” to the city council, prompting Mesa to “examine” its “lack of controls over such group homes.” East Valley Tribune. http://bit.ly/2IsPwUb 

Scottsdale Issues & Experts Forum defines infrastructure costs, plan of action. “Moderated by Scottsdale Independent Managing Editor Terrance Thornton, the Issues & Experts forum included three Scottsdale City Councilmembers: David Smith, Guy Phillips and Virginia Korte…. Of discussion at the…event was just how bad of shape some of the city’s infrastructure is, and how tourism plays into maintaining city needs.” http://bit.ly/2yGXKIF

[GUEST COLUMN] Chucri: We don’t have to spend money to make a difference. Maricopa County BOS chairman Steve Chucri believes that “government can help improve your quality of life without being involved in every part of your life” AND “without always asking you for more money.” In a piece for Queen Creek Independent, Chairman Chucri backs up that belief by touting some of the ways he and his fellow supervisors have “decreased county spending without sacrificing service” in their recently approved 2019 budget. http://bit.ly/2KraVSw 

Cameron’s $5M + deals of the day – http://bit.ly/2Kl2mp5 

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. http://bit.ly/Court_RichTwitter 

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

Regulator set to offer renewable energy plan for Corporation Commission consideration. “With a renewable energy initiative ready to be filed next week, a state utility regulator is filing his own proposal, one that electric companies are likely to find more attractive. Andy Tobin wants the [ACC] on which he serves to require that 80 percent of electricity generated in the state to come from ‘renewable’ sources by 2050.” Capitol Media Services/Howard Fischer in Arizona Cap Times. http://bit.ly/2KqFJjn

Court rules state denial of drivers licenses illegal. “In a sometimes sharply worded ruling, Judge David Campbell pointed out… that ‘dreamers’ with certain Employment Authorization Documents are lawfully present in this country and cannot be denied licenses.” (Safe to say, however, that the court would probably see things differently if it ever came to denying the driver’s license of one “Samantha Jane Sample” as shown in this report from Howard Fischer at Arizona Cap Times. Or maybe not. Check it out!) http://bit.ly/2ts3ot9