The Dealmaker: 2/4/2019

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





[OPINION] Are public votes DOA on the Phoenix Suns arena deal? And is that a bad thing? (Disclosure: Rose Law Group represents the Phoenix Suns.) AZCentral columnist Abe Kwok lays out reasons he opposes efforts of the “anonymous force(s)” seemingly “bent on sabotaging” the Talking Stick Resort Arena renovation deal, whether such attempted derailment occurs at the ballot box or in a courthouse.

Standing room only at meeting for new housing development proposed near west Anthem. “The developer facilitated the meeting on January 24, sharing details with residents about the 55.5-acre site [near 43rd Ave. & Circle Mountain], which is owned by Desert Hills 160 LLC, and its intent to rezone the site from ranch land to single-family residential with a density of about 3 homes per acre.” The Foothills Focus.

Phoenix saw rise in homes selling above asking price in 2018. “The percentage of homes selling for above the asking price has been declining nationally… but Phoenix is bucking that trend.” Get the local housing-market lowdown from the new Zillow report via KTAR.

Surprise council OKs plan for Dysart Road frontage, makes way for new development. “The modified zoning affects 8.93 acres of an 18.96-acre parcel, located along the rail spur south and west of the southwest corner of Waddell and Dysart roads on the city’s eastern border with El Mirage, which was previously limited to industrial uses.” YourValley.

CBRE: Phoenix’s growth shows no signs of slowing. CBRE’s Paul Komadina: “Although supply and demand scenarios vary across property types, there is great opportunity remaining.” Get highlights from CBRE’s 2019 Phoenix Market Outlookand access the full report at AZRE

Paying for future growth: Peoria updating impact fees. “With Peoria projecting about 17,000 residential dwelling units and more than 7 million square feet of non-residential growth in next 10 years, the city is poised to receive millions of dollars in impact fees from developers.”YourValley.

Town Council begins deliberations on Sanctuary resort SUP amendment.“The proposed amendment centers on the Sanctuary resort’s Gallery House, also known as ‘Casa 3,’ on the east side of the resort”. Town Council recently began “ironing out a statement of direction” for the project, and PV Independent has a recap of the discussions.

Judge stops demolition of old Smitty’s grocery store in Peoria — for now.“An Arizona Republic columnist 21 years ago described the old Smitty’s as an ‘aging building with its boarded-up windows and doors and worn-out appearance.’ ” It looks like the building will continue in that condition, at least for a little longer, after a judge granted the property owner’s appeal seeking to put a pause on the city-ordered demolition.

Maricopa Advocates give city positive attitude. Maricopa Mayor Christian Price was upbeat before a “large crowd of new [Maricopa Advocate Program] members,” at an event held by the city’s Economic Development Department last week. Check out Mayor Price’s wide-ranging remarks at InMaricopa

Residents gather to review Bellemont area plan. “More than 100 Bellemont residents gathered Thursday night to join in a discussion on the most recent draft of the Bellemont Area Plan, a 96-page document that will shape land use and development in the area for the next 20 years.” Arizona Daily Sun.

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

Tempe faces $10 million claim in Uber self-driving vehicle fatality; Rose Law Group litigator Logan Elia comments. The claim, filed by “the family of the woman killed by an autonomous Uber vehicle last year,” says the “city created a dangerous situation by paving a median where people were not supposed to cross the road.” In AZCentralLogan Elia explains why “the claim is ‘not a very good one.’ ”

Dueling bills aim to outlaw texting while driving. “That effort, if successful, would end Arizona’s distinction of being one of only two states in the country that allows most motorists to type and dial while driving.” A Cap Media Services/Howard Fischer report in AFN

Bill pushes for higher motorist insurance minimums. “A measure approved last week by the Senate Committee on Transportation and Public Safety would mandate that vehicle owners purchase policies which provide for at least [$_____] worth of coverage for injuries caused to any one person. The current minimum is just $15,000, a figure that was put in place in 1972.” Find out what figure goes in that blank this Cap Media Services/Howard Fischer report in East Valley Tribune

How Arizona’s drought plan will spread the pain to farms, cities, tribes, developers. “Because of a raft of mitigation measures approved in negotiations among the parties, the pain will be less at first and ratchet up over time.” Arizona Daily Star columnist Tony Davis has a “guide to who’s getting cut, when and how much.”

Gallego, Valenzuela will draw from experience to address homelessness in Phoenix. In case you somehow missed last week’s AZCentral report (mentioned in Dealmaker) on the recent forum with mayoral hopefuls Kate Gallego and Daniel Valenzuela each discussing the “cataclysmic combination of issues surrounding housing,” here’s more coverage of the event, this time from Arizona Mirror

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February 2019