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The Dealmaker: 3/12/2019

Posted by   /  March 12, 2019  /  No Comments

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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




Attainably priced condos coming to downtown Phoenix. • Verde Park Condominiums • 43 residences • Nine different floor plans • From the $170,000s • In the Historic Garfield District • More on the new Live Forward Ventures’ community • In Builderhttp://bit.ly/2T411a1

Museum Square fuels love-hate reaction. The development in downtown Scottsdale would include hotel, apartments, and condos. The “biggest worry”? Project height. However, even some of the worriers who attended a “sometimes-heated” meeting on the matter “said they would like to see the project completed.” Scottsdale Progress. http://bit.ly/2UtpUNO

Most housing markets shifting in favor of buyers, but Phoenix bucks trend. “Phoenix is actually a standout, kind of cutting against the trend, by remaining a pretty steady, strong market that is not actually seeing a lot of relief for buyers…” More from Zillow economist Jeff Tucker at KTARhttp://bit.ly/2F8t7NC

Glennwilde spec home most expensive house sold in Maricopa. This new four-bedroom home from “Fulton Homes in the Sycamore section of Glennwilde” was “on the market less than two weeks.” InMaricopa has a rundown and pic of the 2,517-sq. ft.home, plus info on the city’s other four top sellers. http://bit.ly/2F8D79r

Ball, Rauch, Red Bull will move into Glendale industrial development. A new “700,000-square-foot,” “multimillion-dollar facility,” to be located “in the Woolf Logistics Industrial Campus.” State and local officials, including Gov. Doug Ducey and Glendale Mayor Jerry Weiers, comment on the project’s “significant” economic impact, at AZRE. http://bit.ly/2TIqZ71

Paradise Valley continues tussle with right approach to Lincoln Drive improvements. “Since September of last year, Town of Paradise Valley officials have been wrestling with the appropriate approach to Lincoln Drive median improvements — from about Mockingbird Lane to Scottsdale Road.” As this “tussling continues,” the “stakes are high” for “myriad commercial development projects” in the area. PV Independent. http://bit.ly/2HywD5v

Public invited to meeting on Pinal water impact; farmers raise alarm.“Pinal County farmers and irrigation districts are sounding the alarm that the county’s economy can’t sustain the hit it will face when the water supply gets cut over the next few years.” The public meeting aims to “ ‘raise public awareness’ of the dire nature they see for the problem.” PinalCentral. http://bit.ly/2u0myGk

[IN-DEPTH] Drought & Development: Contingency plan bites into Pinal County agriculture. Discussing the DCP, Brian Betcher, general manager of the Maricopa-Stanfield Irrigation and Drainage District, sums it up this way: “It is the best that we could probably do in this environment. It is important to the state that the DCP gets done. We (ag) are the lowest priority water user group. There stands to be a huge potential for economic loss in the ag community in Pinal County.” More at InMaricopahttp://bit.ly/2u0QqT7

Scottsdale to look into building downtown garage. “The city will look into the feasibility of building a new garage downtown that could help alleviate parking problems in the Scottsdale Arts District that gallery owners have complained about for years.” Scottsdale Progress. http://bit.ly/2O6CJvb

Vision of a sustainable WestWorld operation emerges at Scottsdale City Hall. Home to events such as Barrett-Jackson, The Arabian Horse Show and the Bentley Scottsdale Polo Championships, WestWorld is an economic “driver. But the 386-acre event center “itself is not profitable.” However, “an active effort toward sustainability is under way.” Scottsdale Independent. http://bit.ly/2HuB2WM

Pollack: What’s the deal with only 20,000 jobs? Job gains last month were lackluster to say the least, but a levelheaded Monday Morning Quarterback isn’t panicking. Instead, he stays in the pocket and hits us with several reasons why it’s “far too early to become concerned,” while also making a few extra points with these data ‘Snapshots’ —>  U.S.: • Employment • Productivity • Credit • Building Permits • Construction Spending • New Home Sales. AZ: Job Numbers & Revisions – Phoenix & Tucson. http://bit.ly/2TIDXSj

ICON launches Vulcan II 3D, printer of houses. “The new machine, which ICON says is ‘the first of its kind,’ is capable of 3D printing liveable homes, offering ‘resilient, dignified housing around the world.’ ” Check it out at 3D Printing Media Networkhttp://bit.ly/2u40Xgo

Japanese restaurant ShinBay now open in Scottsdale, omakase only.  “ShinBay is back. Will the third time be the charm for the high-end Japanese restaurant?” Rose Law Group Founder and President Jordan Rose says she intends to do her part to keep it open — it’s her favorite restaurant “on the planet”! She tells Dealmaker that while it is hard to bum her out when ShinBay closed a few years ago she was genuinely sad. When asked about this Jordan responded, “I’ve been saying 2019 was going to be really terrific and that was before I even knew of this gift!” Read about ShinBay at AZCentralhttp://bit.ly/2T3hVFA



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

Click here for 2019 Arizona Legislative News

ABOR calls Brnovich’s ASU lawsuit ‘senseless,’ files motions to dismiss.“The lawsuit, which was filed in January, alleges that ASU has been misusing its tax-exempt status to benefit private developers.” On Friday, the Arizona Board of Regents “filed four motions” to toss AG (and ASU grad) Mark Brnovich’s suit. KTAR. http://bit.ly/2TNalmM

Valley cities not that ‘happy’, survey says; Phoenix very unhappy. The inspiration for such a jocundly blithe headline comes courtesy findings in “2019’s Happiest Cities in America,” a new study from WalletHub, which examined “180 of the largest U.S. cities” across “31 key indicators of happiness, ranging from depression rate to income-growth rate to average leisure time spent per day.” Enjoy! http://bit.ly/2Hhhypx

Arizona takes California to court over taxation. AG Mark Brnovich “contends that California is illegally declaring that investors in certain types of limited liability companies are ‘doing business’ in that state,” resulting in a “minimum $800 tax” on those companies. And Cap Media Services’ Howard Fischer reports in AZ Cap Timesthat “[i]t’s not just the levy that Brnovich wants the nation’s high court to void.” http://bit.ly/2SWKnsN

Arizona’s delegation shrugs as President Trump seeks more money for border wall. “The collective yawn suggests how detached the White House $4.7 trillion spending plan is from a potential deal in a divided Congress.” http://bit.ly/2TLsRfn

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