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The Dealmaker: 3/11/2019

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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





P.F. Chang’s sells 20 acres in N. Scottsdale for $12M. (Disclosure: Rose Law Group represents Lennar Homes.) After the eatery gets finished off by a wrecking crew, homes are on the menu. But how many and where, exactly? And what does the site look like from 1000 feet in the air? All that and more in this short but informative AZRE report. http://bit.ly/2HdScJ2

KB Home opens Mesa community. • Allred Ranch • 108 one- and two-story new homes • 1,700 to 2,800 sq. ft. • Starting in the $290,000s. • Elevation, floor plan, amenity rundown, and more • In Builder. http://bit.ly/2T0xDBk

More new homes planned for Casa Grande neighborhoods. Wade Jurney received the green light to build 72 homes in the “Tamaron subdivision,” while at Villago, K. Hovnanian got the nod for what will be “the first offering of a multigenerational-style home in Casa Grande.” CG Dispatch. http://bit.ly/2VOjDwd 

Valerio at Ocotillo bringing Santa Barbara luxury. “HCW LLC of Phoenix” is seeking to develop the condo “community, on 5.6 acres east” of “Price and Queen Creek Roads.” With Chandler’s recent vote to “accommodate” the “32-unit” project, and with no neighbors opposing, prospects for the development are: So far, so good! BEX. http://bit.ly/2TGKLjj

SkySong 5 construction reaches ‘topping out.’ “The construction of SkySong 5 has gone smoothly during the winter and spring months, and the topping out comesafter approximately seven months of construction.” Check out a “topping out” pic, and get up to speed on the project, at AZRE. http://bit.ly/2VQmODJ

New Best Western hotel planned for Casa Grande. Situated at Florence and Henness, the three-story hotel “will have 68 rooms, 24 of which will be suites.” Elevations along with a drone’s-eye view of the property, plus further project details, in PinalCentral. http://bit.ly/2TGAT9h

Scottsdale Mayor Jim Lane’s 2019 State of the City Address underscored bond themes. It was Mayor Lane’s “focus on the importance of the city’s tourism industry [‘Barrett-Jackson Collector Car Auction, Waste Management Phoenix Open and the Scottsdale Arabian Horse Show’] that gave a subtle nod to a potential bond election and the pending investments the city could make in those key areas.” Scottsdale Progress. http://bit.ly/2SXEsDx

Flagstaff: Open space initiative sprouts as Schultz Pass affordable housing sees new possibilities. Spurred by a “renewed interest” for affordable housing on the 3-acre, city-owned parcel at Schultz Pass and Fort Valley roads, a group called Save Schultz Meadow “is now gathering signatures to put a question on the ballot asking voters if they want to permanently designate the land as open space.” Arizona Daily Sun. http://bit.ly/2TwKoJ2

University of Arizona business school namesake Karl Eller dies. “Eller’s business history included being among the initial investors for the Phoenix Suns when the NBA team started in 1968 as well as advertising ventures and growing Circle K into a national company.” Our thoughts and prayers go out to the Eller family. http://bit.ly/2TInjlM



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

Click here for 2019 Arizona Legislative News

Age-old MLB traditions are about to be altered forever because of legalized gambling. “Wagering on baseball teams means such simple things as submitting lineups will now be controlled to ensure no one has an unfair advantage. And that may just be the beginning.” Forbes. http://bit.ly/2HjO0HZ

The precarious rental economy. Living spaces, transportation, clothing, appliances, furniture — all can be rented. Is there anything “to be worried about in this brave new world where our entire lives are dominated by rentiers”? Axios looks into it. http://bit.ly/2TwM45i 

Amazon-inspired bill to halt company tax incentives appears dead. “SB 1322 mirrored legislation introduced in New York and Illinois that would have Arizona join a multi-state compact to abolish company-specific tax incentives.” AZ Cap Times (Paywall). http://bit.ly/2CffWrY

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