The Dealmaker: 6/29/2018

Maracay closes on $12.1M land purchase. • 190 additional homesites • Phase II of Maracay’s MPC Avance • Abutting South Mountain • Between 7th and 14th streets • Non- bullet-pointed development details available in the news release • At AZRE. http://bit.ly/2MzGQOg

MCO Properties closes its doors. “MCO Properties, the land and investment firm responsible for the growth of Fountain Hills” — “creating neighborhoods such as SunRidge Canyon, FireRock and North Heights” — “closed its local office June 15.” Fountain Hills Times publishing chief L. Alan Cruikshank calls it “the end of an era that has greatly affected our community…’ ” http://bit.ly/2KtFioh

2018 Gold Nugget Award winners announced. “From more than 700 entries” — and Camelot Homes tops the list, selected as the Grand Award Winner for ”Home of the Year” – White Horse, in Scottsdale. Get the complete rundown in Builder. http://bit.ly/2lK8m08

Deer Valley is hottest Phoenix industrial market. And one HUGE reason is the continued rise of the housing market in the area, “with USAA and Sunbelt Holdings’ Union Park at Norterra residential development underway, along with Taylor Morrison and Pulte’s Sky Crossing.” As for other “strong economic underpinnings” driving Deer Valley’s industrial demand, DAUM veeps Chris Rogers and Trevor McKendry lay ‘em out, in AZRE. http://bit.ly/2N8QKaN

Appeals court schedules oral arguments in Apex case. (Disclosure: Rose Law Group represents Apex Motor Club). “The Division 2 appeals court in Tucson will hear from both sides July 11 at 2 p.m.” inMaricopa. http://bit.ly/2lKa5m8

Will millennials save housing from a downturn?“The cohort’s delay in launching housing preference and behavior… maybe the residential real estate and construction economy’s best hope of future-proofing itself — to a degree — from a housing recession in the next two to three years.” By John McManus in Builder. http://bit.ly/2KmS1gJ

Most expensive home sales in Phoenix. Arizona Foothills Magazine top home sales 6.18.18 – 6.24.18 totaled “over $26 million,” a FALLOFF of some 1 million from the previous week. Not terrible. Putting it another way, it’s actually FEWER than the number of days remaining in Robert Mueller’s investigation! Moving on… Features in this installment include: Vintage European fixtures, natural stone tile, a detached casita, 14’ ceilings, a 6-car garage, and a rooftop pool. http://bit.ly/2tHfwGL

Tucson area has top ‘underwater’ mortgage rate among Arizona’s largest MSAs. That dubious distinction comes via an ATTOM Data Solutions analysis showing Tucson Metropolitan Statistical Area as having “posted the highest percentage of mortgages that owe at least 25 percent more on their loans than their property is worth.” Get the numbers, plus check out the misery-loves-company list featuring other “Seriously Underwater” metros, all in Arizona Business Daily. http://bit.ly/2tG7wWx

Phoenix sells Sheraton Grand Phoenix to Marriott for $255 million. “The Phoenix City Council voted to sell the hotel to TLG Phoenix — a subsidiary of Florida-based TLG Investment Partners — last year. But earlier this year, Marriott expressed interest in owning the hotel and formed an affiliate with TLG Phoenix to purchase it.” As for what Marriott has planned for the Sheraton — a building touted as having “‘kick-started’ downtown — find out at AZCentral. http://bit.ly/2KyNeI7

Cawley Architects teams with Ottawa University for sports complex. AzBigMedia brings us up to speed on progress being made on the “$23 million, 110,000-square-foot Ottawa University Athletic Facility for Indoor and Outdoor Athletics. The project at Tierra Buena and Civic Center is “racing towards a 2019 finish date thanks to a team effort between Phoenix-based Cawley Architects, the school, and the City of Surprise.” http://bit.ly/2N7tOZk

The next big home design trend? Bacteria. Biofiltering (living) wallpaper. Microbially enhanced flooring. Bathroom bacteria sensors. The business-design mashup site Co.Design takes a look these and other “prototypes and concepts,” and explains why “having more microorganisms in your home” may seem “gross,” but “isn’t necessarily a bad thing.” http://bit.ly/2tRDSN8

Peoria’s Palo Verde Park project singled out by Governor’s Archaeology Advisory Commission. “The city originally planned to build a 20-acre recreational park on the site until the discovery of the archaeological significance [i.e., Palo Verde Ruin].” YourValley details how the city earned this recognition for “its historic preservation efforts.” http://bit.ly/2IDNHDJ

Fairman hopes to bring economic consistency to Eloy. At a recent gathering of the Economic Development Group of Eloy, “economic development specialist” Jeff Fairman outlined his economic vision for the city. PinalCentral was there and has some of the highlights. http://bit.ly/2NbN5Jk 

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!

Risks to Lake Mead, Colorado River intensifying greatly, federal officials say. “The risks of Lake Mead dropping to catastrophically low levels have ramped up dramatically, say federal officials who came [to Tempe] Thursday to push for completion of a long-stalled drought plan for the Colorado River Basin.” Arizona Daily Star. http://bit.ly/2tP4heM 

Water taps dry, sewers overflow as Johnson Utilities owner faces bribery trial. “People living in the portion of the southeast Valley served by Johnson Utilities [‘Florence, the San Tan Valley area and Queen Creek’] say they are living in turmoil as taps run dry and sewers overflow while the company’s owner, George Johnson, faces unrelated charges of bribery in federal court.” It’s got regulators “considering whether to appoint an interim manager to run the company.” AZCentral. http://bit.ly/2N9nLDy

Sides wrapping up arguments in ‘Ghost Lobby’ bribery trial. Rose Law Group Reporter recaps closing arguments in the bribery trial of former corporation commissioner Gary Pierce, Sherry Pierce, and lobbyist Jim Norton. (Info courtesy Arizona Cap Times.). http://bit.ly/2KgYZDL

Lawmakers quarrel over descriptions of ballot measures. “Democrat lawmakers accused their Republican colleagues Thursday of hiding relevant information from voters…” Cap Media Services’ Howard Fischer reports in Arizona Cap Times that Dems’ beef is with “key provisions in two measures that will be on the November ballot that are not included in the explanations that will be provided to voters in official ballot pamphlets.” http://bit.ly/2KkwchB

Schweikert had more death threats last year than three terms combined.“Rep. David Schweikert, R-Ariz., says left is going to get fringier and fringier, louder and louder, angrier and angrier.’” Roll Call. http://bit.ly/2tFeURU