The Dealmaker: 6/27/2018

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






Homes at The Luxe in Desert Ridge to launch first release of 30 homes.The Statesman Group has announced a sales-launch date of July 6 for The Luxe condos. The 10-acre development is located on the sunset side of Deer Valley between 52nd and 56th streets. PV Independent has the press release particulars, including price and size-range info, plus indoor/outdoor amenity details

Nationwide Insurance project could bring development to 1,000 acres of Scottsdale desert. “Nationwide Mutual Insurance Company aims to acquire 136 acres [‘along Loop 101, east of Desert Ridge Marketplace and Scottsdale Road’] for its regional headquarters… The land improvements the project would require, along with rezoning approved by the Scottsdale City Council this month, could open far more land to development.” AZCentral.

2 Valley developers among 7 LEED for Homes winners worldwide.Congrats! to Maracay Homes, a recipient of UCGBC’s LEED Home Award Outstanding Single-Family Developer, AND to Native American Connection, which was named Outstanding Affordable Developer/Builder. More on the honors at AZRE.

Lennar nets $310.3 million in Q2. —> More than doubling Wall Street earnings estimates, reports Builder — and sending “several other builder stocks up, based largely on Lennar Executive Chairman Stuart Miller’s statement that ‘concerns about rising interest rates and construction costs have been offset by low unemployment and increasing wages.’ ”

Zillow: Typical home seller made $39K in 2017. “In a housing market that’s been plagued by low inventory and increasing demand, homeowners in the nation’s hottest markets have been able to cash in,” says Zillow’s Aaron Terrazas. But here’s the rub: “In 25 of the markets analyzed, the profits sellers made are not enough for a 20 % down payment on the median home in that same area.” How’d the typical home unloader in Phoenix fare? The answer (and more) in Builder

Home price growth slows. “National home price appreciation rose at a slower pace in April as more than half of metro areas experienced a deceleration in price growth” — New York, San Francisco, and D.C. “recorded outright declines in house prices.” How’d Phoenix do? Find out and get a complete rundown of the Case-Shiller Index in Eye On Housing 

‘Let’s go downtown’: How Chandler’s restaurant, bar scene helped transform city. How did Chandler’s City Center become “Hip and Historic,” the “hotbed of activity” that it is today? AZCentral takes a look at how downtown Chandler’s “slow and steady growth” and its “focus on local” has “paid off with storefronts filled with a wide variety of restaurants and more on the way.”

Banner’s new hospital targets Ahwatukee. Banner’s announcement of a new hospital in South Chandler (‘turf long held by Dignity Health’) comes on the heels of Dignity’s announcement of “a massive expansion of the Chandler Regional Medical Center.” AFN reports that “population growth” throughout the East Valley is behind the companies’ moves, and that both “projects will pour tens of millions of dollars into the local economy.”

Tempe, state settle GPLET tax dispute. The agreement resolves a special action the AG’s Office filed with the Arizona Supreme Court, asking it to determine whether property tax incentives in lease agreements the city signed with several developers violated state law. Rose Law Group Reporter has more on the five-page settlement, including what it means for any lease agreements currently in effect between the city and developers.

New apartment complex planned next to Tucson Premium Outlets. “HSL Properties has purchased a 13.59-acre multifamily development site… near Interstate 10 and Twin Peaks Road… The company plans to build a 285-unit apartment complex on the site, known as Marana Center Parcel 3.” A bit more on the transaction, along with a 7-item rundown of other commercial deals in the area, at Arizona Daily Star.

Pima County moves ahead to acquire 3,283-acre Tesoro Nueve Ranch. “The ranch, located [on the eastern slopes of the Catalina Mountains] in the San Pedro River watershed, is surrounded by conservation properties owned by the County and its Regional Flood Control District as well as the Coronado National Forest.” RED News reports that the acquisition  “includes 1,476 acres of land and 1,807 acres of state grazing leases.”

Laura Kaino appointed to Goodyear City Council. Congratulations! to new councilmember Laura Kaino whose appointment fills the vacancy left by Joanne Osborne, who resigned to run for the Arizona House of Representatives. The full story on this as it becomes available.

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!


Supreme Court upholds travel ban“The ruling was 5-4 along partisan lines, with Chief Justice John Roberts writing for the conservative majority. The ruling sends a strong message that Trump has broad powers under immigration law to act to protect national security and that statements made during a campaign may not be legally determinative of the President’s intent.” Read the decision in full with a tap-thru to CNN

Anti-abortion advocates hail Supreme Court decision on pregnancy centers as free speech win. “The court ruled 5-4 against a California law requiring pregnancy centers to provide information about state-supported, low-cost health care services, including abortions. As supporters of the ruling hailed it as a victory, leaders of Planned Parenthood lamented the decision.” Cronkite News.

Mother, daughter seriously injured in motorized scooter crash at Mission Beach. “11-year-old Ally DeWitt and her mother, Courtney, were enjoying a day at the beach on their trip from Gilbert, Arizona when they decided to rent a motorized scooter… A short while later, while riding on the Mission Beach boardwalk, the pair got into a serious crash…” ABC15 reports that the family is now “pleading with the San Diego City Council to ban motorized scooters.”

America’s famed Route 66 put on list of 11 endangered historic places. “In order to declare the road a national historic trail, and therefore officially protected, the U.S. Senate would have to pass legislation and [President] Trump would have to sign it. But time is running out.” The Guardian.

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