The Dealmaker: 4/15/2019

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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

Casa Grande comes in ‘10 of 10’ for opportunity zone investment. The opportunity zone tax incentive program is taking off, and Pinal County, specifically Casa Grande, is reaping the benefits. That was the big topic at the Pinal Partnership breakfast on Friday, with insight provided by economic & development officials, including CG’s Fernando Garcia, Eloy’s Jeff Fairman, and Pinal County’s Tim Kanavel. They were joined by Superior Town Manager Todd Pryor, RLG attorney Dan Gauthier, and Phoenix Opportunity Zone fund Founder and Manager, Robby Richards. RLG Founder and President Jordan Rose moderated. RLGR has coverage.

Kolby Granville unanimously voted off Tempe City Council after misconduct allegations. “After more than three hours of public comment, the council determined Granville violated the city’s code-of-conduct policy and was unfit to continue representing the city… [Granville] has been accused of providing minors with alcohol and making unwanted sexual advances toward two women. He has denied the allegations and was never charged with a crime.” AZCentral.

NY investor buys 4 more metro Phoenix mobile home parks. “New York-based Blackstone Real Estate Investment just spent $55 million for four Valley mobile-home parks… That’s on top of the $120 million it spent last year snatching up nine mobile home parks.” AZCentral.

Lease or sale of certain Town of Guadalupe owned property. The Town of Guadalupe has posted info regarding an “exciting development opportunity”: RFPs for the lease or sale of certain Town-owned properties. Tap on to Guadalupeaz.orgfor further details.

ASU v. Mark Brnovich: Will $28M break for Omni deal hurt K-12? This New Times headline seems to set up a search for answers and avoid any appearance of hostility toward ASU. In fact, the report starts out rather deferential to the university, noting that the school accused AG Brnovich “of ‘cherry-picking’ facts about” its plan for the hotel. However, an alternate New Times headline for the same report tells a different tale: “Experts: ASU’s $140M Return on $28M ‘Investment’ in Omni Deal Screws K-12.”

Spring update on North Marana housing market. “This area, which is located just west of I-10 northwest of Tucson, is showing some of the best activity in the region [and] has plenty of runway to continue to provide homebuilders and developers ample room to grow.” RED News.

Flagstaff P&Z opens public hearing for Canyon del Rio rezone. A rezone of 83 acres within the 263-acre Canyon del Rio development at Butler and Fourth St. could pave the way for more than 850 residential units as well as 25 acres of commercial development. Arizona Daily Sun.

Plans emerge for new Mesa data center. “Back in May 2017 the City of Mesa announced that Dupont Fabros Technology… had purchased 56.5 acres of undeveloped land [at Elliot and Crismon] in order to develop the new data center.” Now, “[l]ong-awaited plans” for the Digital Realty Data Center development — including rendering — “have finally surfaced.” BEX.

Amazon buys 9.57 acres in Tucson for massive distribution center. And “prep work” has “already begun” for the 59,000 sq.-ft. distribution center located at Silverlake and I-10, not too far up the road from Amazon’s 857,388 sq.-ft. “fulfillment center” located “within the Century Park Research Center.” AZRE.

South Central light rail project clears key hurdle. “Valley Metro is now eligible to use up to $530 million in funding through the Federal Transit Administration Capital Investment Grant program, obtain non-federal funding commitments, and complete the engineering and design needed to construct the project.” Sen. Kyrsten Sinema made the announcement. AZ Business Magazine has the report.

Phoenix-Mesa Gateway Airport announces best month ever, 24% increase in first-quarter traffic. “Phoenix-Mesa Gateway Airport continued its streak of record-setting passenger activity by welcoming 224,864 total passengers during March.” It was “the 18th consecutive month of year-over-year passenger growth for the airport.” QC Independent.

Former Mesa Mayor and WWII hero Wayne Pomeroy dies at 96. Dealmaker is saddened to learn about the passing of former Mesa Mayor Wayne Pomeroy. “ ‘He was a real hero of mine,’ said Mesa Mayor John Giles, who served on the City Council with Pomeroy in the late 1990s.” Wayne Pomeroy served during WWII and was a recipient of “the Silver Star, Purple Heart and Air Medal for his actions.” AZCentral.

[REGIONAL] Housing-starved San Francisco shoots down new apartment project because it would cast shadow on nearby park. Again. The BOS has “unanimously voted to delay the approval of a 65-unit apartment building slated to be built… in the city’s SoMa neighborhood.” Supervisor Matt Haney: “[T]his isn’t a meaningless shadow on someone’s backyard. This is a shadow that falls on the only multi-use public park in SoMa.” The story in Reason.

Dealmaker BONUS:Couple buys 120-year-old mansion ‘by mistake’ and decides to restore it into a beautiful home. “He… was ecstatic that his bid of £30,000 won. Soon, however, joy turned to panic… Imagine having to tell your girlfriend you’d just paid the equivalent of $39,400 — for the wrong house!” Kiwi Report takes a look at how Cal Hunter and Claire Segeren are making the most of their accidental fixer-upper. 

The Best Kentucky Derby Party in Arizona will be here before you know it –

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Scientists say our brains will connect to computers in decades to form the ‘internet of thoughts. “Like the movie ‘The Matrix’ users could use brain to computer interface to instantly download information… The interfaces wouldn’t just stop at linking humans and computers, say researchers. A network of brains could also help form what they call a ‘global superbrain’ that would allow for collective thought.” Daily Mail.

SNL spoofs The View:’We’re five best friends with nothing in common.’ “Saturday Night Live‘s cold open was Trump-free, but it wasn’t long into the show until the president’s border policies were the butt of jokes — this time, by the ladies of SNL’s parody of The View.” WATCH:

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April 2019