The Dealmaker: 9/28/2018

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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Richmond American opens Florence community. (Disclosure: Rose Law Group represents Richmond American Homes.) • Crestfield Manor • Ranch & two-story floor plans • With garages big enough to park a Winnebago • Seriously • From the $200,000s • More on Richmond American’s new Florence community in Builder

Maracay pays $31.6M for 115 acres in East Valley. The property, located at the NW corner of Chandler Heights and Val Vista, is “the second of three parcels” that Maracay is assembling for “a new 236-acre master-planned community that will span Gilbert and Chandler.” Development details and sitemap at AZRE.

Developer withdraws application for Valley Ridge Estates near New River. Officially dead. That’s the downbeat dispatch from The Foothills Focusregarding a project “that would have brought 286 new single-family homes to a 71-acre parcel of land located on the Interstate-17 Frontage and Circle Mountain roads…” This story includes a photo of a (now) rather lonely looking parcel where the development “would have been.”

Finding home in America. “Explore the ways Americans rent, buy, sell and think about home in this year’s report on consumer housing trends,” in Zillow Group Consumer Housing Trends Report 2018.—>

The hot property that’s next on tech’s agenda: Real estate. “Having watched tech start-ups upend old-line industries like taxis and hotels, venture capitalists are casting about for the next area to be infused with software and data. Many have homed in on real estate as a big opportunity,” the recent infusion of $400 million from SoftBank’s Vision Fund into OpenDoor being a prime example. The New York Times.

Pending home sales continue to slide. “Pending home sales have decreased on an annual basis for eight consecutive months, and have declined month over month in four of the past five months.” Get all the figures from the latest PHSI in Eye On Housing.

Desert dazzler! Phoenix shipping container home is hot, hot, hot. A  photoessay featuring interior and exterior shots of the four-container, Berkshire Hathaway listed home, a “structure”® says is “unlike anything the Phoenix housing market has seen… a fascinating riff on the region’s shipping container craze, which includes The Churchill…”

Most expensive home sales in Phoenix. Arizona Foothills Magazine top home sales, 9.17.18 – 9.23.18, totaled “over $20 million,” PLUMMETING like box-office revenue for a Michael Moore film, some $6 million from the previous week. Tap on for the 10-image SLIDESHOW.

ASU completes $38 million in facilities upgrades during summer 2018. “Facilities Development and Management completed more than 100 projects — a total of $38 million in investments across all campuses — in time for the start of the fall semester.” ASU Now has the rundown.

Avondale continues park renovations to enhance community. “Throughout the last few years, minor renovations have been made to Avondale neighborhood and community parks. But this fiscal year, the council invested resources [to the tune of about $15 million] to address a handful of upgrades that have been on hold.” West Valley View.

U.S. can’t afford to be an infrastructure dropout. “The price tag to raise America’s grade is more than $2 trillion, but American Society of Civil Engineers’ Executive Director Tom Smith says it’s absolutely doable.” Concrete Construction via Builder.

Cameron’s $5M + deals of the day – 

Horses and Horsepower Party gets even better: APEX Cup to debut At 8th Annual Bentley Scottsdale Polo Championships, November 10th and11th –

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!

Laura Bianchi, Rose Law Group partner, director Medical Cannabis Department, talks to Marijuana Business Daily about hot market. A medical cannabis market so fired up and full of potential that it has “out-of-state investors eyeing” Arizona “despite high entry costs and a recent state Court of Appeals decision that cannabis extracts are illegal.” As Laura Bianchi tells MBD: “I haven’t seen things slow down at all — it’s extremely active…”

ASU profs reflect on the civics lesson that was the Kavanaugh hearing. A couple of ASU professors stayed home yesterday to watch the televised drama and civics lesson that ensued at the Brett Kavanaugh hearing. They explain why, in their view, more people should have done the same. Cronkite News.

Statewide candidates rake in nearly $660K from PACs. “The Arizona Mirror examined campaign finance reports to examine the support each candidate for statewide office has from PACs.” (Mirror RELATED: “Democrats hoping ‘stars align’ in legislative races.” • “After backing Garcia in 2014, AZ Latino business group staying on sidelines in gov’s race.”)

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September 2018