The Dealmaker: 2/19/2019

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




Eloy loses bid to delay land purchase for north-south freeway. (Disclosure: Rose Law Group represents Saint Holdings.) “Pinal County Board of Supervisors was asked to approve a purchase of land [from Saint Land Holdings] to eventually be right of way for the proposed freeway that would stretch from San Tan Valley in the north to Eloy.” In an “11th hour request,” the board was also asked to “hold off on the purchase.” It said yes to the former, no to the latter. Eloy Enterprise.

Casa Grande preparing for Lucid’s high-dollar Arizona car factory. “The Newark, Calif., company hoping to join the luxury car market gave an update to a Greater Casa Grande Chamber of Commerce luncheon in Eloy on Friday.” The update included a date-probable for a groundbreaking, plus info on the car-maker’sprojected economic impact in the area, including how it will drive “the need for more housing.” AZCentral has the recap.

Surprise P&Z to consider 3-story, 83,000-square-foot Texas Rangers housing facility at City Center. (Disclosure: Rose Law Group represents TR Surprise.) “Located north of Greenway Road on Bullard Avenue, the proposed buildings will rise on 3.07 acres of undeveloped desert in the City Center, directly across the street from the Rangers practice fields.” Check out the rendering and get development details in YourValley.

$7,100 rent for a Phoenix condo. It must be spring training time. “Almost 26,000 homes, apartments, condominiums, RVs and bedrooms in the Valley are on Airbnb. But only about 100 of those places are still available… And prices have jumped.” AZCentral real estate columnist Catherine Reagor looks into the Valley’s “March madness for rentals.”

Chandler apartment rent hike among top 10 in nation. “The average apartment rent increase in Chandler last year ranked the seventh highest in the nation among the country’s top 100 markets.” Another Arizona city also cracked ApartmentGuide’s “top 10 list.” See where, and find out “the major factors pushing the increases,” in EVT.

Builder 100 Spotlight: New Home Co. maintains its customer-centric attitude. “After going public five years ago, the California builder is successfully competing in two red hot real estate markets” — and Phoenix is one of them. A chat with New Home Company CEO Larry Webb.

[GUEST COLUMN] Pace: Rare 3-3 council split over five-plex proposal on Camelback Mountain. “[Sanctuary Resort] wants to build a multi-story party house with a pool, roof top bar and four connected rental units on less than one acre on Camelback Mountain.” What is Town Councilmember Julie Pace’s position? Find out in PV Independent 

Stream Data Centers buys 157 acres in Goodyear to create major tech campus. “Initially, Stream will redevelop the existing [418,000 sq. ft.] facility which at full build-out will [be able to support approximately 2 million square feet and will] contain approximately 50 MW of critical load.” More on what is the company’s first foray into the Phoenix market, at AZRE.

Chandler Council OKs $500 million bond for Intel. “The city last week approved the issuance of Industrial Development Revenue bonds with the computer giant that will give the company access to half a billion dollars in bond money to help with its local expansion and other projects.” EVT.

Global CEO talks about water cutbacks in Drought Contingency Plan.“Ron Fleming, Global Water Resources president and CEO, addressed the members of the Maricopa Economic Development Alliance (MEDA) about the state’s Drought Contingency Plan on Wednesday. Fleming told the MEDA membership, “It’s a little complicated. It’s a little chaotic right now, but it’s not a crisis.” InMaricopa.

Bill would make it easier for Arizonans to get out of future timeshare contract. “Legislation approved Monday by the House Committee on Regulatory Affairs would give people who sign timeshare contracts 14 days to have second thoughts. That’s twice as long as they now have.” A Cap Media Services/Howard Fischer report in Arizona Daily Star.

Tortosa resident’s complaints to HOA met with cease-and-desist letter.“Jim Kahlstorf said he wasn’t surprised lawyers representing the Tortosa Homeowners Association sent him a letter this month asking him to stop submitting complaints… Kahlstorf said he’s had multiple heart surgeries and needs to walk every day. He was concerned some parts of Tortosa did not have sufficient lighting to alert residents of cracks in the sidewalk.” PinalCentral.



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

Click here for 2019 Arizona Legislative News

NYT: How the Amazon deal collapsed. “The company’s retreat capped several days of intense behind-the-scenes maneuvering between government officials and Amazon executives… This [NY Times] account was pieced together from dozens of interviews this week with government officials, Amazon representatives, lobbyists and others.” —>

Goldwater loses bid to unveil information on experimental drugs. “A federal judge rejected efforts by the [GI] to force the [FDA] to detail publicly how dying people can get access to unapproved medicines.” KEY QUOTE: “[Access to unapproved medicines] shouldn’t be a government secret.” A Cap Media Services/Howard Fischer report in Arizona Capitol Times 

Boom! Fossil vehicle sales are officially now decreasing in China, Europe, & USA. “Sales of fossil fuelled vehicles are now on the decline in the world’s three largest auto markets, and being replaced by electric vehicles. Fossil car sales will only decrease from here on out.” The report in CleanTechnica.

State might ask voters to increase cigarette tax to $2. Cap Media Howard Fischer reports that “the money raised would help put Arizonans through college.” And if those students happen to Juul, they’re gonna need that extra college cash should the tax be approved! (Vaping products would NOT be exempt.)  

Bill would ask Arizona voters to increase sales tax to pay for education. “A House panel voted Monday to ask voters to increase what they pay in sales taxes to fund public education. The proposal would put a measure on the 2020 ballot to boost the current 0.6-of-a-cent sales tax earmarked for schools to a full penny.” A Cap Media Services/Howard Fischer report in Arizona Daily Star

Bill proposes municipal judges face retention election. The legislation “would prohibit removal ‘without cause.’… Rep. John Kavanagh, R-Fountain Hills, said that is preferable to judges having to worry that they won’t get a new appointment if they tick off a majority of the city council.” A Cap Media Services/Howard Fischer report in Arizona Cap Times

Deepfakes go bigger: Human-sounding prose that opens the prospect of fake news circulated at industrial scale. “Researchers have broadened the controversial technology called ‘deepfakes’ — AI-generated media that experts fear could roil coming elections by convincingly depicting people saying or doing things they never did.” Another Howard Fischer report? Nope. This one’s from Axios

SNL thinks Trump’s border wall makes perfect sense — if you’re “not that smart.” Saturday Night Live’s cold-open “took aim at the president’s latest antics about his beloved border wall.”- Vox. WATCH in RLGR

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February 2019