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The Dealmaker: 3/15/2019

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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




Private property — rezoning bill takes lopsided loss in the House. A House bill purported to protect private property owners from zoning changes that could affect the value of their property has been defeated 41-18. The proposed change would have made it far easier for small property owners to put a development project into a legal protest situation. RLGR has more on the legislation, and its defeat, with insight from land use attorney Jordan Rose, founder and president of Rose Law Group. http://bit.ly/2FfeKqC

Valley developers begin work on largest planned community in western U.S. Phoenix Business Journal goes “INSIDE THE DEAL” for the “proposed 37,000-acre master-planned community west of the White Tank Mountains,” with a VIDEO report direct from the development site and featuring Mike Ingram, chairman of El Dorado Holdings Chairman, and Jerry Colangelo, partner with JDM Partners discussing how they plan to “jump-start the massive project.” (Subscriber Content). http://bit.ly/2ChLBcj

SkyBridge development launches PHX East Valley into the stratosphere.“The 360-acre, long-term development at Phoenix-Mesa Gateway Airport… is expected to take innovation to a new level and revolutionize the way products are transported from the U.S. to Mexico.” Calling it a “dramatic game-changer,” East Valley Partnership President and CEO Denny Barney likens the impact of SkyBridge to Amazon. “Experts agree with Barney’s lofty assessment.” AzBigMedia. http://bit.ly/2TKIIuM

An Arizona spaceport? This group wants to make it happen. With “1,200” aerospace companies in Arizona “giving out more than $5 billion in payroll annually,” Arizona Spaceport Alliance is “questioning why the state doesn’t follow in the footsteps of the eight states with a spaceport, such as Texas, Florida andCalifornia.” PBJ (Subscriber Content). http://bit.ly/2JpSlv4

Chicago developer makes Phoenix debut with proposed downtown apartments. Look who’s blown into downtown from the Windy City! It’s Noah Gottlieb, CEO of X Social Communities, with plans for the “$100 million,” “616-bed” X Phoenix to be situated on “a full city block” at 200 W. Monroe. Details and 6-image SLIDESHOW in PBJ. (Subscriber Content). http://bit.ly/2JgyZrU

Homeownership may be more affordable than we thought. “Taking issue with the fact that traditional affordability indexes rely on median incomes and median housing costs, researchers at the Urban Institute’s Housing Finance Policy Center delved deeper into the matter.” One of the many headlines emerging from the findings: Phoenix-Mesa-Scottsdale among MSAs with highest affordability rates. DSNews. http://bit.ly/2F3rP53 

Phoenix economic development subcommittee advances downtown items to council. “The City of Phoenix subcommittee in charge of urban planning and economic development moved a swath of decisions Wednesday regarding the rehabilitation of historic properties and street revitalization plans on to the full City Council.” Downtown Devil. http://bit.ly/2UFfgnc

Mayor Weiers’ address extols city’s virtues. In his recent State of the City address, Glendale Mayor Jerry Weiers “praised the city’s achievements, from securing companies like Ball Corporation and Red Bull,” and “extolled the virtues of city council, which he credited with the city’s 180-degree financial turnaround over the past five years.” Glendale Star has the recap. http://bit.ly/2CmwFJY

Flagstaff looks to rehab or redevelop public housing. “With the help of a private developer and changes on the federal level, the city may see upgraded and new public housing units in Flagstaff in four to eight years, and potentially more of them.” Arizona Daily Sun. http://bit.ly/2JgV9um

Rancher built tiny town on a dream. What happens now that he’s gone?“There was once a rancher who built a tiny Western town in the southern Arizona desert… The town population, much of the time, was one.” Then the rancher died, and Cowtown “began to fall apart.” Here’s “the story of Edward J.B. Keeylocko, who created a place that drew people off the beaten path.” AZCentral. http://bit.ly/2O5QDgY 

[OPINION] Here’s the big problem with that March 19 drought plan deadline. “Arizona has less than a week to weigh in on how the U.S. Bureau of Reclamation should step in to prop up Lake Mead… Yet the governor’s office says it hasn’t started preparing comments. And that appears to be the stance every other Colorado River basin state is taking… Why such reluctance to weigh in…? Because they all know it’s a trap.” By: Joanna Allhands in AZCentralhttp://bit.ly/2FeuXfQ



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

Click here for 2019 Arizona Legislative News

SRP looks at another solar rate alternative, but new proposal doesn’t appease critics; a ‘cynical proposal,’ says Rose Law Group Co-Founder, Senior Partner, and Director of Renewable Energy, Court Rich. (Disclosure: Rose Law Group represents Sunrun Inc.) “Salt River Project officials — facing criticism for the rates they charge solar customers — proposed a slightly more generous plan for those customers on Monday. It failed to win over the critics.” Plan details and why Court Rich is among those unimpressed by SRP’s latest — at AZCentralhttp://bit.ly/2Fh3ZnJ 

Arizona representatives refuse to vote ‘yes’ to make Mueller report public. “The U.S. House of Representatives on Thursday overwhelmingly passed a resolution stating that Special Counsel Robert Mueller’s forthcoming report on Russian interference in the 2016 U.S. presidential election should be made public.” See who voted “yes,” “no” and “present” in this Arizona Mirror report. (RELATED, in AZCentral: “Here’s how Sens. Kyrsten Sinema and Martha McSally voted on Trump border emergency rebuke.”) http://bit.ly/2TRHmyq 

Fortnite class action says minors lured into in-game purchases. “The Fortnite in-game purchases class action lawsuit claims that Fortnite preys on minors and their inability to make good judgments [sic] and exercise self-control around money. This allegedly has led Fortnite to gain exorbitant prices just from in-game purchases.” See what kind of ‘V bucks’ the class action suit alleges Fortnite is raking in from such purchases — in TCA. http://bit.ly/2JdlKZb 

Utility takes Florence to court for public records. “According to a civil complaint filed this week in Pinal County Superior Court, Johnson Utilities claims it was denied documents detailing communications between Florence and the town of Queen Creek… Johnson argues Florence is violating the state’s public records law and called on the court to have the documents released.” PinalCentral. http://bit.ly/2TBeScK

State Bar closes Stringer investigation without misconduct finding. “The Arizona State Bar has dismissed its investigation into Rep. David Stringer. The Bar had opened an investigation regarding his application to practice law, in which he was required to disclose any convictions to the state Supreme Court’s Committee on Character and Fitness.” AZ Cap Times. http://bit.ly/2UGuckU

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