The Dealmaker: 12/12/2018

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





Ducey says drought plan must be fair to Pinal farmers. “The vow, the governor’s strongest statement to date on the issue, comes as the key players in crafting a plan appear to be circling around an agreement of who loses water when the state is forced to reduce the amount it can draw from Lake Mead and the Colorado River.” A Cap Media Services/Howard Fischer report in CG Dispatch.

Trump administration announces new proposed WOTUS rule. “[The] new definition for ‘waters of the United States’ (WOTUS)… will resolve years of uncertainty over where federal jurisdiction begins and ends.” The NAHB views it as “an important victory for [its] members.” Read Chairman Randy Noel’s “official statement responding to the new proposal” in NAHBNow.

Most Americans believe the U.S. has a nationwide housing affordability crisis. “This poll should serve as a wake-up call to policymakers at all levels of government to ease regulatory burdens that needlessly drive up the cost of housing.” – NAHB Chairman Randy Noel. More from Chairman Noel, plus the poll’s “wake-up call” findings, in World Property Journal.

There could be an unlikely place to hide out if a recession is coming: Housing. “It was the center of the last crisis, but before that housing prices tended to hold up and even rise modestly during an economic downturn… If history is any guide, the housing market could be the unlikely safe haven in the next recession once again.” CNBC.

The sports idiot’s guide to the $230 million Suns arena deal. What’s in the deal? Who’s for the deal and why? Who’s against the arena deal and why? What does this all mean? New Times asks and answers those questions on this, the day Phoenix City Council decides “whether to shell out $150 million to renovate Talking Stick Resort Arena.”

Coolidge council has eyes set on wastewater master plan. (Disclosure: Rose Law Group represents Saint Holdings.) The wastewater matter was just one of the items before Coolidge City Council on Monday. Other action included a rezoning of Saint Holdings’ land, as well as an update on the demolition of buildings at SR 87 and Eleven Mile Corner Rd. Coolidge Examiner.

Allstate plans to bring 2,500 jobs, possible corporate campus to Chandler. “As part of the development agreement, Allstate has agreed to establish an insurance operations center at a location with at least 225,000 square feet of office space and hire 2,500 new employees within five years.” AZCentral has further development agreement details, including info on what Chandler plans to bring to the deal.

Scottsdale Stadium renovations proposed to address more than baseball.“The stadium seats 12,000 for baseball games, but plans include making the space available for more year-round types of events and uses.” Check out renovation renderings and “Multi-Use” possibilities in the SLIDESHOW at Scottsdale Independent.

East Valley group offers $18M cash to save Chinese center. “An informal group calling itself the East Valley Cultural Coalition has come up with an $18 million cash offer in private money to buy the Chinese Cultural Center in Phoenix.” But is True North’s property even for sale? Company spokesman and Valley PR pro Jason Rose responds, in East Valley Tribune

Maricopa to eliminate business licenses, request voluntary registry.Mayor Christian Price: “We believe that good, business-friendly regulations… just make good business sense.” Economic Development Director Denyse Airheart: “The goal is to make conducting business in the City of Maricopa as easy and simple as possible.” Details on the new registry at InMaricopa

Glendale Planning Commission OKs medical pot deliveries, Council to vote. A “zoning text amendment” was approved “last week that would allow medical marijuana deliveries” in Glendale. In this YourValley report on the possibility of home delivery, Planning Administrator David Williams cites “two key reasons for staff’s recommendation to approve the amendment.”

Great Wolf Lodge Arizona celebrates topping out ceremony. “Before being hoisted into place, the beam was signed by stakeholders from Great Wolf Resorts, Mortenson, Gensler and the Salt River Pima-Maricopa Indian Community… This milestone brings [the ‘350-room family resort’] one step closer to its grand opening [in] late summer/early fall 2019.” AZRE.

Land donation for school being considered by Peoria Unified board.“[PUSD] is considering accepting a 15-acre land donation for an elementary school in the Meadows community within the Camino a Lago development at Williams Road and 95th Avenue.” Not a bad idea, acquiring school land, particularly since “6,300 new homes and more than 2,700 new students are estimated for the area in the next five years”! YourValley.

Gilbert neighborhood named Kid-Friendliest in the U.S. It’s the 2018 Neighborly Awards! • “10,000 neighborhoods” • “Ranked based on more than 20 million written reviews” • By participating locals on Trulia Neighborhoods” • When it comes to Kid-Friendliness, one Gilbert neighborhood tops ‘em all • See where in AzBigMedia.

Maricopa mayor reports on SR 347 progress after meeting with ADOT. “In a lengthy Facebook post published on Tuesday, [Mayor Christian Price] detailed a meeting he had with the [ADOT] over several issues residents face when traveling to, from and within the city.” Maricopa Monitor.

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!

[IN-DEPTH] Arizona’s two abandoned-mine inspectors face daunting task: ‘We’re all by ourselves.’ “[75-year-old Jerry Tyra along with fellow supervisor, and retirement-eligible, Tom White] face an uphill battle trying to identify the estimated 100,000 abandoned mines in the state and render them safe, or at least safer.” Cronkite News.

Supreme Court won’t hear appeal of ‘strict compliance’ law for initiatives. “The Arizona Supreme Court on Tuesday declined to hear a challenge to a 2017 law requiring citizen initiative campaigns to strictly comply with statutory requirements. Previously, the courts had imposed a lesser standard of substantial compliance…” Arizona Mirror.

Phoenix more “needy” than other Arizona cities, study finds. “WalletHubcompared the more than 180 U.S. cities based on 27 key indicators of economic disadvantage, such as child poverty, food insecurity and uninsured rates.” (OTOH, thanks in large measure to WalletHub, one condition that certainly doesn’t plague any of here at Dealmaker HQ: Survey insecurity!) Tap on for findings.

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December 2018