The Dealmaker: 01/30/2019

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

 

 

 

Phoenix Suns arena deal went from dead-on-arrival to easy victory. (Disclosure: Rose Law Group represents the Phoenix Suns.) “The Phoenix Suns arena renovation deal did not have the votes it needed to pass on Dec. 12…  A month later, the $230 million deal passed easily…  It was virtually the same [TSR Arena] deal as the one before the council in December. So why such a turnaround?” The story in AZCentralhttp://bit.ly/2DKYKw1

Keeping Pinal County agriculture alive as federal deadline for drought plan nears. RLGR Senior Reporter/Writer Phil Riske looks at the dire consequences should Pinal County not receive enough water from the Colorado River and from groundwater over the coming years — and the legislation that’s been introduced to deal with it. http://bit.ly/2MFgFqw

Like-Kind Exchanges versus Opportunity Zone investments; O-Zones ‘a cut above,’ says Dan Gauthier, Rose Law Group transactional attorney handling many O-Zone investments. What are the “similarities and differences between OZ benefits and LKE benefits”? While this GlobeSt. (subscriber) report looks into it, Dan Gauthier cuts to chase, telling RLGR: “Despite some common ground, opportunity fund investments offer more freedom, flexibility, and potential tax-free gains than like-kind exchanges.” Dan also has the latest info and timetable regarding Treasury’s next public hearing on proposed O-Zone regulations, so tap on! bi://bit.ly/2DIGEui

Most prized commercial property in Phoenix metro acquired as years of litigation end. Crown Realty & Development has closed on 96.5 acres and acquired the “Master Developer” rights in North Phoenix’s Desert Ridge MPC. Crown now plans to develop the land as a new urban core. CEO Robert Flaxman: “What Century City was to Los Angeles in the 1960s, the new City North project will be to Phoenix.” Read the full news release in RLGRhttp://bit.ly/2Uuvmzv

Maracay building at record pace. Maracay is kicking off 2019 at a record pace as it prepares to unveil its second and third East Valley communities this year, with grand opening celebrations for Windermere Ranch in Chandler and The Lakes at Annecy in Gilbert — on the same day. Get a detailed rundown on both neighborhoods via the news release in RLGR. http://bit.ly/2HAO46S

KB opens new community in Florence. • Crestfield Manor • 51 one- and two-story homes • Five floor plans • Starting in the $160s • Near SR 79 & Hunt Hwy. • More on this latest collection from KB in Builder. http://bit.ly/2MN8AjT

New Home Company promotes Miller to president. Chief Operating Officer Leonard S. Miller has taken on a “larger role in shaping the Company’s future.” Miller was “elected President and Chief Operating Officer of the company, effective January 23.” Builder has the announcement. —> http://bit.ly/2HGGHL8

Report: Phoenix topped apartment rent growth in 2018. “Phoenix had trailed Las Vegas for rent growth throughout most of 2018. But the 1.3% bump in Phoenix rents during the last three months of the year was enough to close the gap.” AZRE. http://bit.ly/2DKe0ZQ

Sedona faces housing crisis as rentals move in. Since a new state law took effect, “vacation rentals have grown to more than… 20 percent of Sedona’s total housing.” Now, “many can’t find a place to live,” AZCentral reports. But don’t lay the blame for the affordable housing shortage entirely on vacation rentals. Sedona’s zoning is also a culprit. http://bit.ly/2Sh2CwH

Paradise Valley continues Lincoln Drive median improvement discussions. Access to Lincoln Medical Plaza and SmokeTree Resort, cooperation with Scottsdale, and overall safety were among the concerns voiced by town councilmembers regarding median improvements from Mockingbird Lane to the eastern town’s limits. Get the study session recap in PV Independent. http://bit.ly/2BbxzbX

Sky Harbor sets passenger record in 2018. The airport saw a “2.3 percent increase compared to 2017 and surpassed the previous record of 44,006,205 in 2015.” A closer look at the record-breaking numbers, plus a Terminal 3 renovation SLIDESHOW, in PBJhttp://bit.ly/2HEjl99

How to navigate the brave new CBD market. Hemp is now legal, but many questions and concerns about hemp products — particularly hemp-derived CBD — still remain. By Laura Bianchi, Rose Law Group partner and director of Cannabis Department, in Merry Janehttp://bit.ly/2WxAeWa

 

 

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As a supplement to the Dealmaker, we thought you might enjoy these articles!


 

Keeping Pinal County agriculture alive as federal deadline for drought plan nears. In what could qualify as the world’s quickest ICYMI, Dealmaker brings you this second bite at the apple on the drought story by Phil Riske, due to its importance. http://bit.ly/2MFgFqw

Ban on dropping off early ballots would hit sponsor’s district hard. “Sen. Michelle Ugenti-Rita’s bill to ban voters from dropping off their early ballots in person would affect her legislative district more than almost any other in the state.” Arizona Mirror reports that in the “November election, 12,093 voters in her district dropped off their early ballots at polling places on Election Day.”  http://bit.ly/2Sjbemg

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