The Dealmaker: 9/26/2018

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





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Amazon makes first investment in a homebuilder. Alexa? How do I get into homebuilding? CNBC reports Amazon’s Alexa Fund has “invested in Plant Prefab, a Southern California company that says it uses sustainable construction processes and materials to build prefabricated custom single- and multifamily houses.” —>

KB Home fiscal Q3 earnings exceed expectation. • Orders up 3% • Deliveries rise 8% • Backlog flat • Full breakdown in Builder

Unfinished Loop 202 expansion sparks development. “Where the $1.7 billion South Mountain Freeway will go is, ‘projected to have some of the greatest growth in the Valley.’ ” AzBigMedia reports that “Land values along the [SMF] corridor have risen ‘substantially’ since construction started,” with developers having started “plans for a new wave of multifamily projects” in the Laveen area. 

Broken GDLE subdivision becoming niche apts.“A site in Glendale at 59th Avenue and Butler Drive that has sat only partially developed for 40 years will be reborn as a niche apartment community under a proposal by Visiquest Properties…” Development history, latest project plans, plus a drone’s-eye shot of the site, at AZBEX

Embattled Frank Lloyd Wright house listed for $12.95M ‘as is.’ (Disclosure: Rose Law Group represents Peter Sperling, Craig DeMarco, Andy Ogan and Jim Furcini in preserving the residential historical character of Arcadia.) This news about the David and Gladys Wright House has been grabbing quite a few housing-market headlines recently. This report by Forbes features some great pics of the place, including impressive interior shots. So check it out!

[VIDEO] First Place Phoenix provides housing options for special populations. “First Place Phoenix, a $15.4 million facility, has opened, ushering in a new era of housing options for special populations, especially autism.” Watch at AZCentral.

Landlords and tenants battle it out in Tempe over affordable housing.Arizona Mirror reporter Jerod MacDonald-Evoy looks into the business practices of one local landlord who, according to MacDonald-Evoy, “has garnered a reputation in Tempe for his willingness to evict or even sue tenants,” making him “far from beloved” by many of those he rents to.

Driftwood breaks ground on Canopy by Hilton in Tempe. Located across the street from ASU, the 198-room hotel is slated to open by January 2020. News-release details along with a shot of shovel-ready dirt turners at AZRE

Phoenix takes steps toward a more pedestrian friendly downtown.“Phoenix this summer opened a ‘more walkable’ area along First Street just south of Roosevelt.” Footers can expect to find wider sidewalks, more shade, and a bit of road dieting. Cronkite News via Arizona Daily Sun.

Pinal supervisor gives update Arizona City road projects. Pinal County Supervisor Anthony Smith filled folks in on “current and upcoming road projects,” while Economic Development Manager Tim Kanavel updated on “new job opportunities set to come to Pinal County with companies like Nikola Motors, Lucid Motors and Stevertson Screens.” For a recap of this “Sessions with the Supervisor” meeting, tap to Arizona City Independent.

Pro-light rail extension group holds last rally before council session.“Build South Central Coalition held a final rally outside City Hall to advocate for the project. Former Mayor Greg Stanton, mayoral candidates Kate Gallego and Daniel Valenzuela as well as other community activists were in attendance.” Downtown Devil.


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!

My would-be interview with Bill Cosby and his theft of property from my alma mater. Senior Reporter/Writer Phil Riske recalls seeing Bill Cosby do stand-up, live, in the 70s and shares a couple post-concert stories concerning Cosby “who was becoming one of the most popular comics at the time.” It’s a piece Phil originally posted in 2014, when sex-crime allegations for which “America’s Dad” was sentenced yesterday were first beginning to surface.

Arizona prosecutor tapped to lead hearing for Brett Kavanaugh, accuser.“Rachel Mitchell, a Maricopa County sex crimes prosecutor, will lead questioning in the potentially explosive hearing involving Supreme Court nominee Brett Kavanaugh and a woman accusing him of sexually assaulting her decades ago.” AZCentral (And then there’s this from KFYI: “Mormon women ask Orrin Hatch, colleagues to delay confirmation hearings.”) 

Gov. Doug Ducey, challenger David Garcia disagree on direction of Southern Arizona’s economy. In lieu of the usual article writeup, Dealmaker presents another installment of “Captions Without Photos”: “Arizona Gov. Doug Ducey, left, a Republican, and Democratic challenger David Garcia focused on Southern Arizona issues in their second, and final, debate Tuesday night in Tucson.” Arizona Daily Star has the photo that caption came from, along with a debate report from Cap Media Services’ Howard Fischer. (Enjoy even more images and captioning in The State Press: “Three takeaways for ASU students from the gubernatorial debate.” Also see this RELATED item in Arizona Mirror: “After backing Garcia in 2014, AZ Latino business group staying on sidelines in gov’s race.”)

Report: Aging legislatures overlooking concerns of younger voters.“Legislators across the country are far older than their constituents, and issues important to young people are taking a backseat at state and national levels as a result, according to a report released Tuesday.” Cronkite News.

Could SCOTUS dark money ruling affect Arizona campaign finance law? “Last week, the Supreme Court made a decision which has sent ripples through the world of ‘dark money’ campaign finance at the national level, but don’t expect it to result in more disclosures of anonymous spending at the local level.” Arizona Mirror.

Funding of sports complexes with rental car fees goes to state Supreme Court. The Arizona Supreme Court agreed Tuesday to hear whether revenue generated through car rental fees can be used for sports complexes rather than just road construction and maintenance, reports Arizona Capitol Times. Read about it in RLGR

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September 2018