The Dealmaker: 2/15/2019

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



Gila River pulls out of Drought Contingency Plan. “[The Gila River Indian Community] on Thursday yanked its scheduled ratification of its part of the deal, potentially upending any chance of the state meeting the March 4 deadline.” Cap Media Services’ Howard Fischer has the story in Arizona Cap Times.

Facing cutbacks on the Colorado River, Arizona farmers look to groundwater to stay in business. “With the imported supply of water now about to go away, the farmers in the [Pinal County] area are bracing for changes that they see approaching much more rapidly than they had anticipated.” AZCentral.

Amazon to New York: Drop dead; Rose Law Group Founder and President Jordan Rose comments on the pullout. “Amazon thought it had locked down support for a new [HQ] by wooing a feuding mayor and governor. What it failed to anticipate was how the neighborhood’s politics would sweep it up in the growing split between establishment Democrats and the party’s insurgent progressive wing.” POLITICO • “I can’t imagine any Arizona Municipalities passing up such an extraordinary opportunity! These big deals are always hard but you give and take and find a way to yes.” More from Jordan along with the full report on Bezos’ Big Apple bye-bye, here:

Opportunity Zone experts voice concerns over program’s rules, suggest fixes In IRS hearing; Dan Gauthier, Rose Law Group transactional attorney handling many O-Zone investments, gives his take. Dan Gauthier: “Many stakeholders testified about key issues left unresolved in the proposed regulations – we are hopeful these issues will be addressed in a second set of proposed regulations in the coming months.” Read about yesterday’s packed-house O-Zone hearing in Bisnow

Phoenix set for vote on contentious $75M condo tower. “While many high-powered business leaders support the 12-story project [planned for the parking lot of Phoenix Country Club], a group of homeowners is vehemently opposed, saying ‘height is blight.’ ” PBJ reports, however, that Sunbelt Holdings President and CEO John Graham has adjusted the project’s size, chopping some 81 ft. off its originally proposed height. (Subscriber Content)

Late John McCain’s Phoenix high-rise condo for sale. Cindy and John McCain “moved into the 6,500-square-foot condo at 24th Street and Camelback Road in 2006.” The condo’s key features and the price to own them at AZCentral.

Old Town Peoria mixed-use zoning changes. “Old Town is now organized into a new mixed-use district that makes it clear Peoria City Council has a plan to revitalize and change the look of the oldest area of the city.” Peoria Times has a rundown of the changes, including an aerial showing how the zoning area is split between residential and commercial.

Jerome passes accessory building ordinance. “Ordinance 446 amends the definition of an ‘accessory building’ as being a building or structure that is ‘visually’ subordinate to the main building.” But don’t expect to book a stay in one of these buildings anytime soon. CV Bugle.

Did the government shutdown hurt Flagstaff housing sales? Q4 numbers were “down 10 percent from the year prior.” While the shutdown may shoulder some of the blame, there are other culprits as well. Arizona Daily Sun.

D-Backs said Chase Field badly needs repairs, but have made almost none. “The Arizona Diamondbacks have completed hardly any stadium repairs since they took control of Chase Field last year, despite previously insisting nearly $8 million in upgrades would be necessary during the 2018-2019 off-season, records obtained by The Arizona Republic show.”



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

Click here for 2019 Arizona Legislative News

Google to invest $13 billion in data centers. “[T]he investments would give Google the capacity to hire tens of thousands of employees and create more than 10,000 new construction jobs in Nebraska, Nevada, Ohio, Texas, Oklahoma, South Carolina and Virginia.” WSJ (Subscriber Content)

Republican bill makes citizen initiative process more difficult. “SB 1451… would impose new requirements on paid circulators and the organizations that hire them to collect signatures.” What those new requirements are and why Sen. Vince Leach, R-Tucson is unapologetic over “the idea that his legislation would allow otherwise-valid signatures to be thrown out” — in this Howard Fischer report.

With GOP backing, bill to reduce what lobbyists report spending on lawmakers passes House. The bill “would let lobbyists disclose only the price of what it costs to feed elected officials at luncheons and other events and not the actual cost paid for their admission to the event,” reports Arizona Mirror.

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February 2019