The Dealmaker: 3/20/2019

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


Sales up on ‘Opportunity Zones’; Dan Gauthier, Rose Law Group transactional attorney handling many O-Zone investments, comments.Dan Gauthier tells RLGR: “Property owners nationwide with land in opportunity zones have seen a sharp increase in land value outpacing non-opportunity zone property.” So what sort of OZ price spikes are we talking about? Zillow has the data. http://bit.ly/2HPMzR1
 
Real estate investors expected to unlock trillions as feds finalize Opportunity Zone rules. Here’s where the money could flow in Arizona; plus more insight from Dan Gauthier. “Some of those zones include large chunks of downtown Phoenix as well as parcels near Metrocenter Mall and Paradise Valley Mall. Even Old Town Scottsdale.” PBJ maps out the land of OZs across Arizona and the rest of the country. • So what’s behind the AZ OZ appeal? Dan Gauthier: “Arizona’s opportunity zones are attracting investors from across the country, due in part to Arizona leadership’s proactive, thoughtful selection of qualified opportunity zones.” http://bit.ly/2TMli98
 
Sunbelt Holdings announces executive leadership shifts. President and CEO John Graham steps in as Chairman while continuing as CEO.  Tor Andenaes? He’ll still be involved in current and future projects. Meanwhile, COO Sean Walters takes over as President, while Bob Bambauer assumes the role of Executive VP and Josef Pappas gets the nod for VP. Much more on these moves and the people making them at AZREhttp://bit.ly/2uiIvk0
 
Arizona, six other states go to Congress for drought plan approval. A request has been put in “for what Brenda Burman, commissioner of the Bureau of Reclamation called a historic deal designed to reduce the demand for water from the river.” While “Burman said she is hoping for quick congressional ratification,” Howard Fischer reports that some hurt feelings over in California could result in a “sticking point.” AZ Cap Times. http://bit.ly/2CpVgxx
 
Drought & Development: Planning Maricopa’s hypergrowth. “Though Arizona remains in a long-term drought that has lasted more than 20 years, an assured water supply in Maricopa has prevented the serious concern its possible depletion has caused in the rest of the state.” InMaricopatakes a look at how the city not only has “water to grow” but “also has a plan.” http://bit.ly/2UKODgE
 
Parts of Tempe’s iconic Monti’s La Casa Vieja to be demolished. The “intricate” teardown of “newer additions” to the home is being done in an effort to “restore the building to its original 1920s form,” which will be part of a larger mixed-use development that will include a 15-story office tower and a hotel or apartment complex on the prime piece of real estate.” AZCentral. http://bit.ly/2WaOWBB 
 
Mesa planning board set to discuss massive mixed-use project. It’s “Gallery Park, a proposed 40-acre mixed-use project, planned to include entertainment, office, retail, education, hospitality and residential uses.” PBJ has development details and a SLIDESHOW for the Vivo Partners’ project that Mesa P&Z is set to thrash out TONIGHT. (Subscriber Content). http://bit.ly/2Hyo2Ax
 
New senior housing OK’d in east Mesa. While [Minnesota-based developer Dominium] has not yet unveiled its look for a seniors complex in east Mesa, it got enthusiastic support from Mesa officials recently, partly because it provides affordable housing for seniors and partly because it will help revitalize the area around Broadway and Hawes.” EVT. http://bit.ly/2TZC1VK  
 
Salary needed to afford home payments in the 15 largest U.S. cities – 2019 edition. SmartAsset considered median “home value [ranging from $1,104,100 in San Fran to $148,200 in San Antonio], down payment, property tax rate, homeowners insurance and other monthly debt payments.” So how much take-home is needed in Phoenix to avoid having your home taken? Tap it! http://bit.ly/2Fp1PT0
 
Senate panel votes to handcuff cities on tenant protections. Cap Media Services Howard Fischer files this report on two measures approved by the Senate Government Committee on Monday: HB 2115, which would tighten the regulatory ability of municipalities, and  HB 2358, which would loosen eviction standards for landlords. In Arizona Cap Timeshttp://bit.ly/2Cu2jWm
 
Betting big on Maricopa. Maricopa Monitor looks at the evolution of  Harrah’s Ak-Chin — from Wild Horse Pass “operating out of tent” 25 years ago, to the latest renovations that have turned it into “a full-scale Las Vegas resort.” http://bit.ly/2Fs75Wd   
 
Get to know the new Litchfield Park council members. In this YourValleyQ&A, new LP council members Tom Rosztoczy and Lisa Brainard-Watson touch on sustainability, political partisanship, land use, JDM Partners and more. http://bit.ly/2Y9i8L0
 
Former Tempe councilman seeks mayoral post. Corey Brown has announced his candidacy for mayor of Tempe, challenging Mayor Mark Mitchell. WATCH in Rose Law Group Reporter. http://bit.ly/2JoTFy9
 
Lawsuit alleges collusion, inflated commissions among Realtors.“In Moerhl v National Association Realtors (NAR), home sellers from across the nation are claiming that NAR’s compensation policies [are] a violation of antitrust law. Realogy Holdings, HomeServices of America, RE/MAX and Keller Williams are also named in the suit… If the claim’s plaintiffs win out? It may change the face of buying and selling real estate as we know it.” Forbes. http://bit.ly/2TXPQUM
As a supplement to the Dealmaker, we thought you might enjoy these articles!



Click here for 2019 Arizona Legislative News

[VIDEO] A tattooed libertarian on the Arizona Supreme Court: Clint Bolick’s long fight for freedom. A Reason “Q&A with the co-founder of Institute for Justice about immigration, his legal philosophy, his battles with Sheriff Joe Arpaio, and that tattoo.” WATCH: http://bit.ly/2Y7rl6G
 
Arizona Supreme Court justices appear to favor medical marijuana extracts; bolsters patients’ rights, says Laura Bianchi, partner and director of Rose Law Group Cannabis Department. “State of Arizona v. Rodney Christopher Jones… questions the scope of the 2010 Arizona Medical Marijuana Act and the issue of whether it includes products containing resin extracted from the marijuana plant.” • Laura Bianchi: “My hope is our highest court will see this as the incredible miscarriage of justice it is and uphold the voter approved MMJ Program…” Read Laura’s complete comment and access the New Times report in RLGRhttp://bit.ly/2Yd8uqL
 
Department of Revenue says digital taxation bill will cost Arizona millions. “[ADOR has] determined that legislation to exempt certain digital goods and services from sales taxes could cost the state at least $33 million in 2020.” However, the Arizona Tax Research Association has a bit of an “issue” with ADOR’s “fiscal analysis.” Arizona Mirror. http://bit.ly/2HMheOT 
 
Tracking extremism in Arizona. The Anti-Defamation League documented “incidents of hate, extremism, anti-Semitism and terrorism,” while the Southern Policy Law Center gathered data on “anti-immigrant, anti-LGBT, black nationalist, neo-Nazi, white nationalist” and other “hate groups.” A look at their respective hate-filled reports in Arizona Mirrorhttp://bit.ly/2FgDttq
 
Arizona lifeblood, thy name is the federal government. <—That and other findings brought to you by WalletHub in this new report that actually carries the headline: “2019’s Most & Least Federally Dependent States.” http://bit.ly/2HxuU18
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