The Dealmaker: 9/24/2018

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





VIDEO: Family of veteran wants closure from VA whistleblowers. (Disclosure: Rose Law Group represents the family of veteran Antouine Castaneda.) The family of Antouine Castaneda, an Army Ranger “who committed suicide because of bad care from the Phoenix VA, they say, wants to know who the whistleblowers were who sparked an investigation into the agency so they can have closure.” Watch at azfamily.

EXCLUSIVE: Opportunity Zone investment brings potential for nationwide impact; Rose Law Group Dan Gauthier on panel for Pinal Partnership discussion. (Disclosure: Rose Law Group represents Defer Gain.) Opportunity Zones — how they work and how to invest — was the topic of discussion at Pinal Partnership’s monthly breakfast. Rose Law Group Founder and President Jordan Rose moderated the Friday morning event, which also featured Michael Lafferty and Scott Tonn, principals in the O-Zone investment group Defer Gain. Callan Smith was there and has complete coverage in Rose Law Group Reporter

Is Grand Canal redevelopment building steam? “Recent commercial real estate movements in the area of 12th Street and The Grand Canal have tongues wagging and rumors flying about the future of development near the Grand Canalscape redevelopment zone.” AZBEX.

Denial recommendation for proposed housing development near New River. “The Phoenix Rio Vista Planning Committee unanimously voted to recommend a denial on a rezoning request for a 71-acre parcel of land [near Circle Mountain and the Interstate-17 Frontage] that a developer wants to build 286 new residences on…” The Foothills Focus.

What are America’s fastest-growing (and shrinking) housing markets? Using 2018 H1 data from the National Association of Realtors, 24/7 Wall Street examined housing markets across the country —and Phoenix-Mesa-Scottsdale emerged among the fastest growing. The findings in USA Today.

Housing’s pause: Blip or trend. “Last week, after housing starts, permits, and existing homes data came in for the month of August, the Wall Street Journalproclaimed, ‘The U.S. Housing Pipeline is Clogged.’ ” It’s WSJ report on a “now-persisting deceleration” that has Builder’s John McManus wondering: “Which way is up?”

Plot twist: Amazon’s future may soon be tied to brick & mortar. “[F]or Amazon to sustain anything remotely close to current growth rates over the long-term — much less defend against Walmart, Alibaba and others — they MUST significantly expand their physical store presence.” Retail consultant and Forbescontributing columnist Steve Dennis explains why.

Transitional senior living facility coming to Mesa. “Overland Group, Inc. has submitted a proposal to the City of Mesa to build a new senior housing facility just north of the NWC of Baseline and Crismon…” Details on this proposed continuum of care community, in AZBEX

NOVUS Innovation Corridor Phase I to begin. “[ASU] and Ryan Companies have submitted a proposal to the City of Tempe to build the 777 Tower at Novus mixed-use office/retail building and central plaza on the NWC of Rural Road and University… The new development will be in the first phase of the redevelopment of the NOVUS Innovation Corridor, a 20-year master plan with a $30B total estimated valuation.” AZBEX.

Vision of Paradise Valley General Plan realized through Lincoln Road development focus. PV Town Council held a public hearing recently “on the myriad commercial development projects moving through the municipality,” a handful of which, PV Independent reports, are “destined to redefine the landscape of the affluent Phoenix enclave.”

SURPRISE PARTY! – An Arizona city wants a Costco so bad that it threw the company a birthday party. “For years now, Surprise residents have said they wanted a Costco… The birthday party is just one scheme on a list of fawning the city has done in the last few years to attract the popular store.” AZCentral.

Part of Mesa’s hated colonnade to come tumbling down. “Jeff McVay, the city’s manager of downtown transformation, said the project is needed to create more visibility for downtown storefronts, helping businesses attract more customers and helping landlords attract more businesses…” East Valley Tribune.

Movie screen maker moving to Pinal. “Severtson Screens, which currently is in Mesa, has selected… a parcel of land on the southwest corner of Airport Drive and Schnepf” in San Tan Valley. It’s a location that big-screen manufacturer Severtson set its sights on “several years ago.” San Tan Valley Sentinel.

PHX East Valley is hotbed for job growth. The region added 4,589 jobs during the first half of the year, AZ Business Magazine reports. “Investment and jobs in manufacturing led the way, followed by technology and financial services.”

Goodyear selects new economic development director. When Lori Gary was senior project manager for Mesa’s office of economic development, she “promoted new investment, redevelopment and reuse, and job creation within Mesa’s Fiesta District, Falcon District and West Mesa.” Now, Gary brings her skills to Goodyear, as the city’s new director of the Economic Development Department. West Valley View.

Phoenix Sky Harbor ranks in top 10 of ‘mega airport’ satisfaction rating.“J.D. Power rated several different factors, finding improvements over last year in the check-in process, accessibility, terminal facilities, baggage claim and food, beverage and retail options.” KTAR.

Bagdad mine expansion? “Freeport-McMoRan, owner of the long-running copper mine, located about an hour’s drive northwest of Wickenburg, is conducting early-stage evaluations on whether it will be feasible to expand.” It’s a move that would “almost double” the mine’s “workforce and could have a significant impact on Wickenburg and surrounding communities by 2024.” The Wickenburg Sun.

As downtown Tucson grows, development is spilling onto South Fourth Avenue. “[O]nce considered a hard border to downtown, local business owners and developers are now eyeing properties to the south as complementary projects to downtown.” Arizona Daily Star.

36 hours in Tucson. Travel writer Elaine Glusac in the New York Times: “Foodies, cyclists and the aesthetically inclined will find much to like in this desert city, home to a new bike-share system, adobe architecture and restaurants that reflect a mix of cultural influences.” It’s a report that has sparked up quite a conversation in the comment section, including this KEY OBSERVATION: “You can buy a spacious refinished home downtown for the price of a parking space in New York.”  

Sleep under the sea: World’s first underwater villa debuting in the Maldives. “Able to accommodate up to nine guests and engineered by a New Zealand company that specializes in aquarium technology, the two-level residence is the first of its kind in the world and cost a whopping $15 million to build.” Arizona Foothills Magazine.

10th Annual AZ DealMakers – January 11, 2019. Don’t miss out on the BIGGEST homebuilding industry event for real estate forecasting and analysis, featuring the best speakers in the industry, including Rose Law Group founder and president Jordan Rose and Lennar division president Alan Jones. Plus, Belfiore Real Estate Consulting president Jim Belfiore provides an Overview on Housing. For the full list of speakers & panelists, along with registration info for Arizona Housing: Growth, Its Costs, Challenges & Opportunities, tap on! 



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

How AI can help stop cyberattacks; ‘AI becoming tool for all endeavors,’ says Logan Elia, Rose Law Group attorney practicing privacy law. “As hackers get smarter and more determined, artificial intelligence is going to be an important part of the solution.” – The Wall Street Journal • Logan Elia: “AI will solve more than overtly digital or technological problems. Eventually, artificial intelligence will be useful for solving all the problems that intelligence solves.” Read Logan’s complete comment and access the WSJ report, here:

Diamondbacks, Phoenix discussed ‘opportunity’ for ballpark partnership. HOWEVER: “Details in the email — obtained by The Arizona Republic through a public records request — were scant.” And, based on this report in the same, it sounds as though the email wasn’t intended for public dissemination in the first place.

Which political polls should we believe? “As Arizonans get ready to cast their ballots in November’s general election, post-primary polls show how close the gubernatorial race is.” Cronkite News.

Lawmaker wants to further limit conflicts of interest. “Fueled by reports Rep. Eddie Farnsworth is profiting from the sale of a public charter school, Sen. Kate Brophy McGee, R-Phoenix, wants to limit conflicts more than they’re limited now.” Arizona Cap Times via Rose Law Group Reporter

[OPINION] A radical idea to transform politics: let 16-year-olds and all residents vote. In his piece for The Guardian, Indiana University Maurer School of Law professor Ian Samuel charges Republicans with “aggressively rolling back the right to vote.” According to Samuel: “Opposing voter ID laws isn’t enough — it’s time to think bigger.”

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September 2018