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The Dealmaker: 4/22/2019

Posted by   /  April 22, 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

Microsoft sites in metro Phoenix will be data centers. (Disclosure: Rose Law Group represents Microsoft.) “Months after city officials put Microsoft on the fast track to build in Goodyear, the city has released the facility’s site plan and a company spokesman confirmed the land will be used for data centers.” AZCentral. http://bit.ly/2GrQzEY

[OP-ED] Phoenix’s political future may already live on the west side. “Vania Guevara and Betty Guardado belong in Phoenix politics, no matter who wins the May 21 City Council runoff.” The Republic editorial board on why it is ALL IN for Vania Guevara. http://bit.ly/2Iwj1sw

Pinal population continues steady growth. “Maricopa County garnered all the headlines [last] week with its booming population numbers, but its neighbor to the south is quietly chugging along.” The county ranked “second in the number of new residents it attracted last year.” And “more affordable housing” is a big reason why. Maricopa Monitor. http://bit.ly/2XzIXXD

Could population growth propel Phoenix and Tucson to merge?“Population projections for metro Phoenix could mean it will join with Tucson somewhere in Pinal County in about two decades, if the numbers are right and the Valley’s growth engine doesn’t stall again.”  AZCentral. http://bit.ly/2Uxl9lg  

Phoenix homebuilders move down market; heed call for more affordable housing. A PBJ overview of the Valley’s housing market, featuring entry-level insight from homebuilding head honchos Doug Fulton, Steve Hilton, Bob Flaherty, Mike Ingram and Andy Warren. (Subscriber Content). http://bit.ly/2IyZ0S7

Proposal for 30 new homes receives some opposition in Peoria. With  27 people supporting the project and only 3 opposing (due to concerns over ‘lot sizes and traffic’), Peoria P&Z “paved the way to bring a proposed 30 lot single-family residential development named Bella Pasa to 75th Avenue and Acoma Drive.” http://bit.ly/2GzPpZ0

Mesa foresees huge investment in roads near airport. “Gateway Airport has proven the vision of a huge economic development engine that East Valley leaders foresaw two decades ago. But as that vision materializes, the city sees a need for more investment in infrastructure.” East Valley Tribune. http://bit.ly/2GAxrFS

416KSF of industrial planned for Gilbert’s east side. Trammell Crow’s “proposed project, Gilbert Gateway Commerce Center, consists of three industrial/office buildings” on “29 acres located [SW] of Power and Warner.” BEXhas development and design details. http://bit.ly/2Pq0AX0

Surprise isn’t ready for a resort, its own adviser says. “It would be too costly for a developer to build a full-service hotel in the Surprise’s downtown area, and not enough demand for a resort in the White Tanks.” That was the news from a city-hired CBRE consultant at a recent city council meeting — and council members weren’t too happy about it. AZCentral. http://bit.ly/2XwxNTB

TUCSON: Plans for hotel next to Rialto Theatre scrapped. “A proposal to build a Marriott dual-concept hotel complex at Fifth Avenue and Broadway has been scrapped and focus shifted to potential multi-use project at the Corbett block on Sixth Avenue and Seventh Street.” Arizona Daily Star. http://bit.ly/2DpUEsm

FLAGSTAFF: Developer drops student focused project after council meeting. It looks like a no-go for a controversial “700 bed, student-focused development” on 15 acres at Lone Tree and JW Powell. The news, welcomed by “nearby residents of the Pinnacle Pines neighborhood,” comes after Texas-based Campus Advantage withdrew its purchase offer for the property. Arizona Daily Sun. http://bit.ly/2Iz87Cs

[OP-ED]AZ Republic endorses Garcia over Johnson. “Phoenix City Council needs a shake-up. Which District 8 candidate would bring it” — Carlos Garcia or Mike Johnson? The Republic editorial board says Garcia is the “make-waves representative” the city “needs most.” http://bit.ly/2XETGAp

‘Investors are hesitant’: rural America might miss out on ‘Opportunity Zones.’ While “[t]ax breaks likely aren’t enough to lure investors to low-income communities in rural areas,” this report from Governing says “[t]here are ways they can become more attractive.” http://bit.ly/2IQgo4q

Cameron’s $5M + deals of the day – http://bit.ly/2ZrtA5j

Will You Be At The Best Party On May 4th? http://bit.ly/2Dmk9uw

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

Click here for 2019 Arizona Legislative News

Rose Law Group Co-Founder, Senior Partner, and Director of Renewable Energy, Court Rich, talks to Daily Star about utilities buying solar.“Arizona stands to lose hundreds of millions of dollars worth of solar energy projects unless” the state stops utilities from imposing deal-killing restrictions on non-utility solar developers. Here’s just a snippet from what Court Rich tells Arizona Daily Star: “There are somewhere in the neighborhood of 500 megawatts of projects that are going to go forward or not, depending on whether the utilities are required to comply with federal law and the state policy or if they’re allowed to insist on terms that they know make these things not happen.” http://bit.ly/2XDCsTX
 
[REGIONAL NEWS] The lawmaker-landlords of California. “At least 30 lawmakers — more than 25% of the Legislature — own one or more properties that generate income from tenants.” Tenants interviewed in this LA Daily News report “were unaware their monthly rent checks were going” to “the wife” of one such landlord-lawmaker. http://bit.ly/2VhR8KF
 
Safeway stores offering health care powered by artificial intelligence. “Virtual health kiosks opening up inside in Arizona Safeway stores are similar to using the self-checkout line for groceries — only in this case, the commodity is medical care.” AZCentral. http://bit.ly/2Vh3wLe

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