The Dealmaker: 11/14/2018

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




AAED gives out its Golden Prospector Awards. Last week, Dealmaker mentioned Maricopa as an award recipient. But also recognized by the Arizona Association for Economic Development were Gilbert, Queen Creek, Phoenix, Pinal County, Peoria, Surprise, Scottsdale, as well as the Greater Phoenix Economic Council and East Valley Partnership. Get a rundown of their respective achievements in economic excellence, at AZ Business Magazine.

Drewett Works wins five Gold Nugget Awards. That’s “more than any entity in the region,” reports Arizona Foothills Magazine in its news brief on Drewett Works’ honored projects.

In which states did properties sell quickly in September 2018? Overall, “properties were typically on the market for 32 days (34 days one year ago), according to the September 2018 REALTORS® Confidence Index Survey.” Curious about “Seller Traffic” and “Days on Market” here in Arizona? Tap on for the heat-map data.

Glendale to gain 192-unit apartment complex. Planning officials have approved a Shea Connelly Development request to build the Golden Lane Apartments on a 7.5-acre site at the SWC of Alice & 67th avenues, reports AZBEX. Tap on for an aerial view of the property, along with design and development details for the project.

The good, bad and ugly of renting in America today. With a headline that brings to mind that classic 1966 Spaghetti Western starring Clint Eastwood, Apartment Guide blogger Ellen Sirull saddles up and trots over to AzBigMedia, toting some key takeaways from a report by The Joint Center for Housing Studies of Harvard University. Chief among the “bad and ugly”? Financially strapped renters needing more than just A Fistful of Dollars.

Modular and other non-site built housing. An NAHB analysis shows that modular’s total market share was “3.3% of single-family completions in 2017,” which “represents a decline from years prior to the Great Recession.” However, in Eye On Housing, Chief Economist Robert Dietz expects that figure “to rise in 2018 and in the years ahead…”

Phoenix City Council to meet in executive session to discuss possible arena deal with Suns. “City Council on Wednesday will have its second closed-door meeting in two weeks to discuss the Phoenix Suns and the downtown arena the basketball team calls home.” And right “now may be the best shot the Suns have at getting the city to foot at least part of the bill for arena upgrades.” Find out why at AZCentral

Macerich making it easier for online brands to open physical stores with new concept. Forbes reviews “BrandBox,” a new concept from Macerich that is “intended to help popular online brands open new physical stores without the typical leasing strings and red tape attached.”(Scottsdale Fashion Square gets a mention as one such Macerich property that is expecting a “BrandBox space.”) 

Buckeye to consider annexing, developing controversial shooting site. “The parcel in question consists of 1,050 acres located off the Tonopah Salome Highway, west of Miller Road and north of I-10. BLM closed the controversial recreational spot in February following years of use for activities including target shooting.” West Valley View.

Pinal County Board report. This AJ News wrap-up of recent BOS business includes info on the “decisions clearing the way for construction of the Nikola Motors and Lucid Motors manufacturing facilities in Coolidge and Casa Grande, respectively.”

[VIDEOS] ADOT continues work on Pinal roadways. A new bridge. Fresh freeway lanes. Ongoing overpass construction. Reconfiguration of a left turn. Reports on each, plus four short videos showing how projects will look when finished, at Maricopa Monitor.

Pollack: Economic picture remains positive. However, “the next two years should continue to be interesting.” That’s the overall takeaway in this rare Wednesday installment of a Veteran’s Day-delayed edition of The Monday Morning Quarterback. Data ‘Snapshots’ include… U.S.: • GDP • Consumer Sentiment • Credit • Non-Manufacturing Index. AZ: • Phoenix Housing Data – The Cromford Report.

VIRGIN AIR CONDITIONING? – Richard Branson launches $3 million prize for better AC. “The new competition is designed to provide an incentive to create higher-efficiency air conditioners [‘at no more than twice the cost’ of a ‘standard’ AC] and support startups in a field that’s currently dominated by a handful of major corporation.” Fast Company via Builder. 

Las Vegas Raiders stadium 30% complete a year after groundbreaking. “The building, currently about 80 feet high, is only half as tall as it eventually will be…. Don Webb, chief operating officer of StadCo, the Raiders’ stadium construction subsidiary, can’t believe that it was one year ago Tuesday that hundreds of people gathered for a ceremonial groundbreaking of the $1.8 billion project…” Las Vegas Review-Journal.

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 Meritage Homes Chairman & CEO Steven J. Hilton and Christopher Todd Communities CEO Todd Wood. Plus, Belfiore Real Estate Consulting President & Founder 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!

Kennedy declares victory in Arizona Corporation Commission race.“Democrat Sandra Kennedy declared victory Tuesday night as she and Republican Justin Olson maintained their leads in the race for two seats on the Arizona Corporation Commission…” AZCentral.

McSally campaign official alleges ‘misconduct’ in vote counting. After Kyrsten Sinema was declared the winner over Martha McSally in the U.S. Senate race, “McSally’s campaign CEO Jim Bognet took to Twitter to highlight the ‘multiple instances of electoral irregularities in Arizona, including extreme incompetence and possible purposeful misconduct in Maricopa County.’ ” The story at KTAR.

The ‘blue wave’ will make it harder for ballot measures to actually be on the ballot for the next 4 years. Why? Because, as this report in Arizona Mirrorexplains, “the number of signatures needed is determined by how many people voted in the most recent gubernatorial election.”

Republican lawmakers push for special session on tax conformity. “Key Republican lawmakers are hoping to persuade Gov. Doug Ducey to call a lame-duck special session in the next six weeks so the Legislature can adjust Arizona’s income tax laws to conform with the federal tax bill that President Trump signed nearly a year ago.” Arizona Mirror.

Barrett-Jackson Aspen Valley Polo Club four-peats Bentley Scottsdale Polo Championship in front of record crowd; Grant Ganzi named MVP.“Aspen Valley Polo Club made history again winning its fourth consecutive title at the recent eighth annual Bentley Scottsdale Polo Championship at WestWorld of Scottsdale…. Grant Ganzi was named Most Valuable Player and at 20 he is the youngest player to be awarded the honor.” Get the polo showdown lowdown — including live-action shots of the championship ‘horseplay’ — in GC Polo. 

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November 2018