The Dealmaker: 2/7/2019

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




Fulton Homes reflects on past ahead of Barney Farms groundbreaking. (Disclosure: Rose Law Group represents Fulton Homes.) “The success of the 1,500-lot Cortina development for Fulton Homes and Queen Creek paved the way for Victoria Estates, Ash Creek, Queen Creek Station and Ironwood Crossing… Before Cortina, Queen Creek was a much different place, full of potential that Fulton Homes President Norm Nicholls saw and was willing to pay the price to transform it.” QC Independent.

Lucid Motors on track for spring groundbreaking. (Disclosure: Rose Law Group represents the underlying landowner, Pinal Land Holdings.) “David Salguero, a spokesman for Lucid Motors, told PinalCentral the groundbreaking for Phase 1 is being planned. The 500-acre site on the southwest corner of Thornton and Peters roads has been secured by the California-based start-up company…”

Second lawsuit filed over massive Vigneto project in Benson. The complaint, filed by environmentalists, “alleges the Army Corps violated the National Environmental Policy Act and the Clean Water Act in failing to comprehensively assess the impacts of the entire 12,200-acre project before approving” its permit. Arizona Daily Star.

Addressing the State of the Union. DSNews looks at “President Trump’s State of the Union speech to the 116th Congress and what some of the issues addressed by him could mean for the housing industry.”

Roosevelt Row’s largest office building to become creative mixed-use project. “It will be game-changing for that northeast corner,” says Dorina Bustamante of True North Studio, which purchased the building at 1001 N. Central and plans to modernize its “existing office space.” Other makeover moves for “Ten-O-One” include “opening up the ground floor and basement to new food and beverage uses.” PBJ (Subscriber Content)

The rise of ASU’s Downtown campus. “The campus first opened for classes in 2006 with approximately 3,000 students.” Today it has some “12,000 students” with “more than 2,000 faculty and staff.” Downtown Devil looks at the evolution and future expansion plans of a campus that has “helped bring life into downtown Phoenix.”

Proposed height limit changes at Willetta and Central rejected. The owner seeks to change the “restriction” on the parcel near the Old Spaghetti Factory “from 75 feet to a staggered design” — “40 feet at the west,” “180 feet at the east,” and “150 feet in the middle.” But Phoenix City Council’s Planning and Economic Development Subcommittee basically said, “Non adesso.” Find out why in Downtown Devil

Final transportation report unveiled, highlights traffic patterns. “The report, compiled by Wilson and Company of Phoenix with a price tag of $75,000, examines the transportation needs of Maricopa, both now and into the future.” The map is up for view in this report from InMaricopa

‘Absentee owners’ urged to fix their buildings in Florence. “Long-vacant and decrepit buildings are being eyed for enforcement action,” under the “Absentee Owner Program.” A recent meeting on the matter attempted to sort out whether the ultimate goal for such rundown buildings is “sale,’ “rehab,” or “demolition.” Flo Reminder has the recap.

Tiny Tower brings small living to the big city. “Many cities are filled with awkward little plots that aren’t suitable for building a standard house on, but [Interface Studio Architects] has designed an interesting compact home that could make good use of them. Named Tiny Tower, the 1,250 sq ft dwelling fits into a 12 x 29 ft inner-city space.” Story and pics in New Atlas.

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Phoenix voters will decide future of light rail in August. “Building a Better Phoenix [has] collected enough signatures to send the controversial public transit system back to the voters, asking them to end light rail expansion in Phoenix and instead divert the city money to other transportation improvements.” AZCentral.

CHARITY BEGINS AT HOUSE – Bill allows for double dipping on tax deductions. “Hoping to help charities fearing changes in federal tax laws, a House panel voted Wednesday to let Arizona residents take both the standard deduction on state tax forms and also write off their charitable giving.” By Cap Media Services’ Howard Fischer. (RELATED, also in AZ Cap Times: “Early voting change short on votes.”)

Commission narrows field of Supreme Court applicants. “Maricopa County Attorney Bill Montgomery is one of 11 applicants for a spot on the Arizona Supreme Court who will move on to the interview process with the Commission on Appellate Court Appointments.” So what’s the deal with AZ Cap Times singling out Montgomery in this report? It has to do with a “scathing letter” published about Montgomery in AZ Mirror. —>

Fortnite Is the future, but probably not for the reasons you think. “Much has been said about Fortnite’s revenue, users, business model, origin and availability. But these narratives are overhyped. What matters is how these achievements, when added to the rest of Epic Games, stand to change the entertainment industry forever.” REDEF.

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February 2019