The Dealmaker: 01/29/2019

Group looks to derail Suns arena renovations with petition push; Rose Law Group Founder and President Jordan Rose comments. (Disclosure: Rose Law Group represents the Phoenix Suns.) PBJ reports on a group that has “filed paperwork… for two potential ballot measures,” and Jordan Rose weighs in on this “mysterious,” “huge money interest” bent on derailing the recently approved Talking Stick Resort Arena renovation deal. (Subscriber Content) http://bit.ly/2RTXFdM

IRS: Welcome back, Opportunity Zones need your attention; still weeks away, says Dan Gauthier, Rose Law Group transactional attorney handling many O-Zone investments. “[T]he IRS’s timely focus on Opportunity Zones will be critical if the program is to become the boon for investors.” Commenting on the Forbes report, Dan Gauthier tells RLGR: “Although the federal government has at least temporarily reopened and investors are clamoring for further Opportunity Zone guidance, the next public hearing date… will occur no earlier than two weeks after appropriations to the Treasury Department are restored.” http://bit.ly/2RXMWPC

New Caesars hotel to be built at Scottsdale Fashion Square. “The 11-story glass structure, with 266 guest rooms, will be called Caesars Republic Scottsdale.” Located at N. Goldwater and E. Highland, it will be Caesars Entertainment Corp.’s “first non-gaming hotel in the U.S.” Check out the rendering and get the rundown in AZCentral. http://bit.ly/2Tl5Rk7

Mayor thinks Maricopa will be ‘powerhouse’ in near future. “The city once described by the Wall Street Journal as a ‘lost paradise’ of foreclosures appears to have bounced back with steady population growth and new home construction. And [Mayor Christian Price] is confident there’s more positive things ahead for his young city.” Maricopa Monitor. http://bit.ly/2MBMEYC

Valley office vacancy rate continues to drop — as rents rise. “The Phoenix area ended the year with a 15.6 percent vacancy rate, its lowest point since the rate reached 14.3 percent in 2007 just prior to the Great Recession…” More Cushman & Wakefield office-market highlights, including Q4’s biggest sale and lease transactions, along with expectations for 2019, in PBJ. (Subscriber Content) http://bit.ly/2UsROcm

FLAGSTAFF: Student focused development on Lone Tree and JW Powell to go before council. The project from Campus Advantage “would consist of a 196-unit development split into a dozen or so buildings and totaling 702 beds.” Arizona Daily Sun reports, however, that the plans have “proven controversial with residents of the neighboring development, Pinnacle Pines, which borders the undeveloped land.” http://bit.ly/2G8WlwE

Closed big-box stores in Tucson morphing into gyms, entertainment centers. “As shopping centers strive to increase foot traffic, more and more tenants are setting up shop for services that can’t be obtained with a click.” Arizona Daily Star. http://bit.ly/2Scc5Fz

Phoenix Suns 3-point shooting benefits U.S. Navy League with Fulton Homes donations. “Each time a Suns player makes a 3-point basket, Fulton Homes donates $100 to the Navy League,” as part of the “ ‘Proud to Own the 3-Point Zone’ sponsorship and promotion.” And great news for the Navy League: The Suns are ahead of last season’s pace when it comes to “Zing go the strings!” from 3-point land! QC Independent. http://bit.ly/2sQuk52

Pollack: Shutdown slowdown? The Monday Morning Quarterback isn’t too worried about any negative impact the shutdown will have on the overall economy, “assuming that the craziness ends here.” Data ‘Snapshots’ include: U.S.: Employment • Leading Indicators • Mortgage Rates • Existing Home Sales & Prices. AZ: Lodging Performance • Southern Arizona Housing Market – New Home Permits. http://bit.ly/2SgYkFu

[REGIONAL NEWS] Denver’s land scarcity leads builders closer to the airport. “With homes planned from Richmond American Homes, Lennar, and Century Communities, the 3,000-acre community 7 miles south of the Denver International Airport… could have ramifications for builders across the country.” Builder. http://bit.ly/2DH8eIg

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