The Dealmaker: 4/16/2019

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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

Developer of luxury ‘live/work’ community in north Scottsdale to add more homes. Irene Catsibris Clary, founder and president of Catclar Investments, is gearing up for Phase II of SOHO Scottsdale, a 74-unit loft/office/townhome, live/work/play community at N. 92nd St. In PBJ, Clary chats about — and shows off (via renderings) — the Bing Ho- designed project. (Subscriber Content).

Q&A: Kevin McAndrews of KB Home. • “What is considered trendy in homes?” • “What is your favorite project?” • “What inspires you and your work?” Kevin McAndrews, president of KB Home Phoenix division answers these and other homebuilding queries in Arizona Foothills Magazine

Phoenix transit center project lacks affordable housing. “The lack of affordable and workforce housing options in Phoenix’s downtown core has been a hot topic in Phoenix in recent months, making its absence from this project even more conspicuous… Some community advocates are calling it a ‘missed opportunity.’ ” AZCentral.

The next housing boom looks more sustainable. “The boom of the last decade was powered by speculative froth and lax mortgage underwriting — and it ended predictably badly. The present day, with large employers continuing to raise their minimum wages, creates a framework for a new, more sustainable housing expansion.” Bloomberg.

Phoenix office absorption hits 10-year high. -> At “more than than 1 million square feet of office space since the first of the year,” according to JLL’s Q1 Phoenix Office Market Report. A rundown of key Q1 occupancies, plus JLL Senior Managing Director Pat Williams shares an optimistic outlook for the rest of the year — in AZRE

Glendale hires Fitzer to lead its development: Surprise loses top planner after tenure of growth. Eric Fitzer leaves Surprise in great shape after serving as its Economic Development Director for the past five years. YourValley looks at some of Fitzer’s major accomplishments as he heads to Glendale to “take over” as that city’s “new development services director.”

[GUEST COLUMN] New supervisor looks at three major county issues.Elections. Transportation and infrastructure. Economic development. Three issues that “stand out… as the most urgent and important” to the newest member of the Maricopa County BOS, former Chandler City Councilman, Jack Sellers. EVT.

Golf club threatens to sue city over $1M water line project. “An informal deal between Scottsdale’s Water Resources Department and a swanky northern Scottsdale golf club [‘owned by GoDaddy billionaire Bob Parsons’] has caused headaches for officials after the club threatened to sue to recoup over $1 million it invested in infrastructure on the city’s behalf.” As Strother Martin’s character “Captain” says in the movie Cool Hand Luke:“What we’ve got here is failure to communicate.”Scottsdale Progress.

Timeshares bill gets preliminary Senate approval. The BIG TAKEAWAY from this Cap Media Services/Howard Fischer report on HB 2639: “State lawmakers are not going to help those who bought timeshares get out from under what is often a lifetime obligation.” Details in Arizona Cap Times

Pollack: Economy moving forward. But “at a slower rate,” reports the Monday Morning Quarterback, who also points out that expected GDP growth figures for “this year and next” are “still very respectable for an expansion that would be the longest in American history.” Data ‘Snapshots’ include…  U.S.: Consumer Sentiment & Prices • Job Openings • Manufacturing. AZ: Home Sales • Apartment Market. 

Cameron’s $5M + deals of the day – 

Drink & be merry at AZ’s best Kentucky Derby party –

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

Click here for 2019 Arizona Legislative News

Sleep report outlines where you rank among snorers, and Phoenix gets the worm. Everything you wanted to know about sleep but were too tired to ask. How much do we snore? How often do we wake up per night? What time do we hit the sack? What time do we rise and shine? PBJ. 

Proposed law would curb Corporation Commission’s subpoena power.SB 1145 “would curb the ability of regulators to seek documents from some private companies.” Essentially, it would be a ‘gag’ on the commission that “could result in delays of months, if not longer, in shutting down frauds and schemes that are taking the money of Arizona residents.” Another CMS/Howard Fischer report in ACT

Experts say Arizona tribes’ role in drought negotiations marks turningpoint for inclusion. “After months of negotiations on the state level,” Drought Contingency Plan legislation was introduced in Congress last week and now awaits President Trump’s signature. “However, before even getting to Capitol Hill, Arizona’s tribes played a critical role in the negotiation of the DCP.” Cronkite News.

Full list: 2019 Pulitzer Prize winners for journalism. “The 2019 Pulitzer Prize winners were announced Monday.” The “big winner,” “big shockers,” and full list in Axios

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April 2019