The Dealmaker: 9/7/2018

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Glendale approves hundreds more homes around Westgate. “Last year, Glendale approved the behemoth housing development StoneHaven, which will bring 1,365 homes across 395 acres… However, the city isn’t done.” Over 3,000 more units are on the way, the vast majority located “within a few miles of the Sports and Entertainment District.” YourValley.

City Council approves final plat for Sereno Canyon Community Plan in north Scottsdale. “Council previously approved three other cases for Sereno Canyon Community Plan, making way for a combination of single-family, townhome lots and a resort/spa development spanning over 350 acres that includes the newly approved [129-acre] site.” More on this project set for 128th St & Pinnacle Peak, in Scottsdale Independent.

Study reveals what those mountain views are really worth. “How much value does a mountain add to a home? Are some mountains, and their views, worth more than others? These are the questions The Hill Group of Coldwell Banker Residential Brokerage set out to answer in their new study — the first of its kind — called “What’s That Mountain Worth?” Turns out that in the Valley, views are worth quite a bit more than just a hill of beans. AZ Business Magazine.

Most expensive homes for sale in Arizona. Arizona Foothills Magazinepresents its “top ten homes FOR SALE in Arizona” — the priciest places in the state up for purchase, from New River to Gold Canyon.

Home flipping profits get a little leaner. Investment returns on flipping have flopped to a “four year low.” ATTOM Data Solutions senior veep Daren Blomquist puts a finger on the factors involved. Plus, see how financed flips fared in Phoenix. In Builder

Kingman, Las Vegas ride same boom-and-bust roller coaster. “Las Vegas is much bigger than Kingman, but their homebuilding markets mirrored each other through the bubble, crash and recovery.” Las Vegas Review-Journal (NOTE: Possible PAYWALL ahead.) 

Home buyers find that It may be more affordable to buy 2 homes than 1.“Also known as granny flats or in-law units because they’re often used to house elderly family members,” these accessory dwelling units (be it a guest house, basement apartment or converted garage) “can also be rented out for additional income.” And they’re “catching on all over the country.”®

RED nears completion of multimillion-dollar Norterra redevelopment. RED partner Scott Rehorn on the revamp: “We noticed a need in the neighborhood to repurpose existing retail buildings and create a more communal, social area for eating, drinking and gathering.” Details on the upgrade, including some of the new tenants joining the retail/restaurant mix — at AZRE.

Tight data center supply sparks growth in Phoenix. “Tight supply in major U.S. data center markets, including Silicon Valley, has led occupiers to expand into Phoenix, which has record levels of data center construction underway.” That’s the mega takeaway from CBRE’s latest U.S. Data Center Trends Report. Highlights and link to the full report at AZRE. 

NOT BANKING ON IT — Phoenix can’t tap into its stored water supply.“For decades, Phoenix has been diverting some of the water it receives from the Colorado River and banking it in reservoirs for future use.” However, the city’s ability to access that “banked” water is “extremely limited.” On Wednesday, Phoenix officials met “to discuss the grave situation,” and Downtown Devil was there.

ARE WE THERE YET? Legal battle over Pinal road tax likely to extend into 2019. (Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County working to bring new transportation infrastructure to the county.) A court ruling is expected in “mid-September on the legality of the Regional Transportation Authority tax, at which point the county will request a stay so the tax can continue to be collected while the appeal is processed.” Casa Grande Dispatch looks at some of the legal wrangling that has led up to this point in the case.

Churchill — the Valley’s first shipping container marketplace — opens in Phoenix. “The project [at 901 N. 1st St.] is the latest in the neighborhood to be constructed entirely from decommissioned shipping containers — the third in three years delivered by Phoenix-based design-build firm Local Studio.” AzBigMedia.

Happy (belated) birthday, Queen Creek! The Town of Queen Creek turned 29 years old on Sept. 5th. To celebrate the founding, check out the documentary “From Rittenhouse to the QC,” on YouTube, via the link in Queen Creek Independent

Goodyear mayor looks back on McCain friendship. Mayor Georgia Lord and John McCain — it’s a “political and professional friendship” that spanned decades, from their first meeting in 1973, to joining forces for McCain’s last campaign as well as working together on the recent Rio Reimagined project. West Valley View.  

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 and a mixer with the finest in AZ Real Estate! Includes an Overview on Housing provided by Jim Belfiore, President of Belfiore Real Estate Consulting. For the full list of ten keynote speakers & panelists plus registration info for the event titled 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!

‘The New York Times Magazine’ examines Arizona education in-depth. Or as the subhead in this special EDUCATION ISSUE puts it: “The teacher’s movement. Arizona lawmakers cut education budgets. Then teachers got angry.”

Cindy McCain on what comes next: ‘Get into the arena and fight.’ “Cindy McCain doesn’t specify what the public should fight for but says the McCain Institute for International Leadership at Arizona State University, which promotes what it calls character-driven global leadership, ‘is now my home, and my mission.’ ” AZCentral.

Federal appeals court sets hearing on Arizona’s ‘ballot harvesting’ ban.“The judges of the 9th Circuit Court of Appeals have set an Oct. 3 hearing on Rivko Knox’s challenge to a 2016 Arizona law making the practice a felony.” But as Capitol Media Services’ Howard Fischer notes in Arizona Daily Star, Knox “faces an uphill battle.”


The Land Agency brokers 113 finished lots within Encantada Estates in Buckeye, Arizona  Read more

The Land Agency brokers 1,500 acre, 4,926 planned lot, master planned community in Pinal County Read more

New custom homes at Talking Rock – Outlaw series Read more

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September 2018