The Dealmaker: 12/18/2018

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




[OPINION] Should Phoenix revitalize the Suns’ 26-year-old arena? That’s a no-brainer. “We must support a renovated arena that further fuels downtown’s revitalization, continues to bring our community together and serves as a point of pride for our city and state.” By Phoenix Community Alliance members Devney Preuss, Diane Haller and Ruben Alvarez, in AZCentral.

Business group ‘strongly supports’ Talking Stick Resort Arena renovations. Add Downtown Phoenix, Inc. president and CEO Dave Krietor to the list of those championing an arena makeover. As Krietor puts it in KTAR: “Anybody that was around downtown Phoenix before the arena was developed would understand how critical that building and the economic activity that it’s generated has been to the resurgence of downtown.”

The national housing slowdown is spreading to markets such as Las Vegas and Phoenix; real estate consultant Jim Belfiore provides insight in WSJ. “The current weakness in the Las Vegas housing market is being driven by a sense of panic in buyers and sellers who remember the last crash, real-estate brokers and analysts say.” As for Phoenix, The Wall Street Journal turns to Jim Belfiore for “psychological” insight on a market that has seen new home sales drop to “their lowest level in two years.”

Shea Homes closes on 15 acres at The Estates at Eastmark. (Disclosure: Rose Law Group represents Shea Homes.) • 39 homesites • 3,282 – 3,983 sq. ft. • At the SW corner of Ray & Signal Butte • Further details, plus illustrated sitemap • In AzBigMedia.

New housing planned for Sun City West. YourValley has a news bite on K. Hovnanian’s plans for “clusters” of new homes on what is now a “vacant lot just east of the Fry’s Market and behind the Goodwill Store on R. H. Johnson Blvd.” Includes a fairly large site-map rendering that’s roughly double the size of the article itself!

Want to buy a home in the Valley’s swankiest neighborhoods? Here’s what you need to earn. “A total of eight Valley ZIP codes require minimum annual salaries of more than $100,000.” Get a “full rundown of the top 25 most exclusive Valley ZIP codes,” in PBJ.

3 cities now sue to kill law banning additional taxes on services. “The Arizona Association of Realtors in June submitted 400,000 signatures to get the ban on service taxes on the November ballot. Although they say they don’t want to trample the will of voters, Mesa, Scottsdale and other city officials are filing suit over the just-approved ballot proposition banning additional taxes on services.” East Valley Tribune.

Surprise P&Z to consider plan for controversial Original Town Site apartment project. “City leaders will consider approving a site plan for Heritage at Surprise, a 100-unit affordable apartment complex proposed for the [S.E.] corner of Nash and Rimrock.” Design and development details, plus a baseball-related reason some nearby residents oppose the project — in YourValley.

COTTONWOOD: Use permit seeks conversion of old rec center into Old Town brewpub. P&Z will consider a conditional-use permit “to turn a former church building” — and subsequently “Cottonwood’s first recreation center” — into a brewpub and keg-distribution establishment. Current zoning is ‘Light Commercial.” (Dealmaker wonders, in all facetiousness, if the zoning needs to change to “Coors Light Commercial”?) The story in CV Bugle. 

The 7 most striking construction technology innovations of 2018.ConstructionDIVE takes “a look back at the impressive technological strides that have been made, spanning augmented reality, tech-infused prefabrication, hardhat sensors and more.”

AgJunction relocating corporate headquarters to Scottsdale. Gov. Doug Ducey, Commerce Authority president and CEO Sandra Watson, and Phoenix Economic Council president and CEO, Chris Camacho each weigh in on this “big win” for Arizona — in Scottsdale Independent 

Fear and grieving in Las Vegas: Colorado River managers struggle with water scarcity. “One of the loudest voices in the debate has been coming from a small group of farmers in rural Pinal County… Under the current rules those farmers could see their Colorado River supplies zeroed out within two years. The country’s biggest grower of cotton and alfalfa, Brian Rhodes, is trying to make sure that doesn’t happen.” KRCC.

Group hopes private company will lead to rail service between Tucson and Phoenix. “All Aboard Arizona, an organization that has pushed for a rail service between Arizona’s two largest cities, believes a solution could come in spring 2019.” Arizona Daily Star.

BLM evaluating Gold Canyon public land lease to Pinal County for proposed regional park. “Pinal County is one of the fastest growing counties in the U.S., and there is an increasing need for recreational access on public lands for local residents and families.” To address that need, Pinal County BOS has submitted a request “to lease approximately 498 acres,” for Peralta Regional Park,” which would be located S.E. of East Ojo and East Peralta roads. AJ Independent.  

Liberty Utilities (Black Mountain Sewer) Corp. announces closure of Carefree Wastewater Treatment Plant. Liberty Utilities has “ceased the flows of wastewater going into the Carefree WWTP” and is now directing flows to Scottsdale Water Campus. Carefree Mayor Les Peterson highlights reasons why the closure is “a winning proposition for all involved” — in Sonoran News.

Salt River community welcomes new president Martin Harvier. “[The] community also welcomed newly elected Vice President Ricardo Leonard, incumbent councilmen Michael Dallas, Sr. and Thomas Largo, Sr., and new council members Cheryl Doka and Diane Enos.” In this recap of Saturday’s inaugural event, AZCentralzeroes in on what President Harvier and Vice President Leonard plan to focus on “in their first term at the helm.”

FLOATING CENSUS IDEAS – Casa Grande, county gearing up for 2020 census count. “Steven Turner, assistant to the city manager, is spearheading the city’s efforts. He said the city currently is selecting a committee [that] will help get the word out about the importance of the census.” One possible idea? A “float in next year’s Electric Light Parade.” PinalCentral.

City of Peoria undertakes identity initiative. “The goal was to tell the story of Peoria, in order to give residents a sense of place as well as to give others an idea of who [the people of Peoria] are.” So what did Peoria come up with? The Foothills Focus “is the place” for the big reveal.

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!

With Kyl’s retirement, anonymous media posturing aims to persuade Ducey. Who will Gov. Doug Ducey appoint to replace retiring Sen. Jon Kyl? “In the case of filling the soon-to-be vacant Senate seat, the warring camps within the Republican Party are fighting over Martha McSally.” Arizona Mirror.

Legislator proposes law to ban politics from classroom. “Rep. Mark Finchem wants the State Board of Education to craft an educator code of ethics explicitly prohibiting politicking in the classroom.” Arizona Cap Times reports, however, that Finchem’s proposal, HB 2002, “seems to mirror prohibitions already in place under a state law.” 

Rothschild won’t seek third term as Tucson’s mayor. “[Mayor Jonathan Rothschild] says the city is in a better place than seven years ago when he took office, and he wants to explore other ways to improve the community, which are all reasons why he won’t be running in 2019.” Arizona Daily Star.

Time to change your password: 25 worst passwords of 2018 revealed. SplashData examined more than 5 million passwords that had been leaked on the internet over the last year and found that users are still using the same kind of predictable, easy-to-guess passwords that provide little to no security at all.” —>

Scottsdale, Gilbert, Chandler — the cities that care. “WalletHub compared the 100 largest cities across 38 key indicators of a compassionate spirit. [WalletHub’s] data set ranges from share of sheltered homeless persons to number of volunteering hours per capita to share of income donated to charity.” (RELATED, from KTAR: “Gilbert’s Power Ranch named nation’s most kid-friendly neighborhood.”)

‘Saturday Night Live’ ponders life if Trump had never been elected. Right on cue for the holidays, it’s a cold-open “takeoff of ‘It’s a Wonderful Life’ ” titled “It’s a Wonderful Trump.” WATCH in Rose Law Group Reporter. (RELATED: “Trump Pegs SNL Sketches as the ‘Real Scandal’ of ‘Collusion’ That ‘Should be Tested in Courts.’ Mediaite

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December 2018