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
More plans submitted for Alliance Residential apartments, Springhill Suites hotel at Papago Plaza redevelopment. Alliance has submitted plans with Scottsdale’s Development Review Board for its Broadstone Papago Marketplace apartment development, while plans have also been submitted for a 117-room, 70,000-square-foot Marriott-brand hotel. Mike Sunnucks has more details in RLGR. http://bit.ly/2PD0ITp
Homebuilder plans to invest $200M in metro Phoenix development this year. With plans that for “opening 17 new communities” this year, Taylor Morrison’s “strategy is to build in core locations in metro Phoenix, near transportation corridors, good schools and good services.” PBJ (Subscriber Content). http://bit.ly/2LhpQ3A
Cadence 50% sold in six months. Harvard Investments brings us up to speed on the sales pace at Cadence at Gateway, the Mesa MPC featuring 657 homes and a combined 52 different floor plans from Lennar, Pulte, Gehan, David Weekley and Newport Homes — and that’s just in Phase One! http://bit.ly/2DH662V
Why it’s not quite a homebuyer’s market yet in Phoenix. Zeroing in on the Phoenix market, CoreLogic chief economist Ralph McLaughlin supplies the answer in this PBJ report. (Subscriber Content). http://bit.ly/2LhTbuI
A wave of potential buyers coming soon. Over the next nineteen years, “44.9 million people will turn 34, the median age of current first-time home buyers. Indeed, in 45 of the country’s largest 50 metros [PHOENIX being one], there are more potential first-time home buyers at the younger end of the pipeline.” Zillowtakes a look at the impact they could have on housing. http://bit.ly/2GNsTuI
WeWork plans fourth Phoenix location in Block 23 development. “WeWork 101 East Washington St, will join the expanding portfolio in the second half of 2019, and will accommodate a community of approximately 1,600 members across two floors.” More on the new WeWork and Block 23 at AZRE. http://bit.ly/2VETaos
See where the first Macy’s Backstage concept is landing in the Valley and its potential retail real estate impact. Backstage, a discount concept akin to TJ Maxx and Marshalls, will be added to Macy’s existing store in Mesa at Superstition Springs Center. Mike Sunnucks looks at the store’s retail real estate impact in his report for RLGR. http://bit.ly/2VBDTEZ
Neighborhood unrest unfolds: Residents question Paradise Valley development process. It’s not exactly Venezuela-like “unrest,” but some neighbors of Paradise Valley Medical Plaza haven’t been too thrilled about the “process” involving an SUP “amendment that would increase the plaza’s footprint.” Could recent application updates for the property SUP help bring peace to the Valley? PV Independent. http://bit.ly/2GNt2OM
Scottsdale’s strategic plan identifies 31 goals deemed priority. The goals are divvied up under six main objectives: • Value Scottsdale’s Unique Lifestyle and Character • Support Economic Vitality • Enhance Neighborhoods • Preserve Meaningful Open Space • Seek Sustainability • Advance Transportation. Further bullet-pointed details in Scottsdale Independent. http://bit.ly/2UVBcdb
Residents vent to FAA about noisy flight paths. “All of a sudden, I noticed planes every 90 seconds,” said one DC Ranch resident, who was among Scottsdalians “attending an FAA workshop last week to offer their comments on what the agency should do about flight paths into and out of Phoenix Sky Harbor.” Scottsdale Progress. http://bit.ly/2XXshJT
Peoria breaks ground on Paloma Park. Paloma Community Park at Lake Pleasant Parkway and Dixileta Drive will eventually span 120 acres, making it the city’s largest. City and county officials tossed a bit of dirt around Tuesday in “celebration for the initial 85 acres.” Tap to YourValley for coverage of the festivities and a rundown of the park’s major features. http://bit.ly/2PD1ZtF
Dunn fills seat of retired Leone in Peoria’s Pine District. “The Peoria City Council appointed [P&Z] Commissioner Denette Dunn to replace former councilman Carlo Leone, who resigned due to health reasons, April 16.” The “term will end later this year,” but does Dunn have designs on running for the seat? YourValley. http://bit.ly/2V62XV2
Cameron’s $5M + deals of the day – http://bit.ly/2XSFFyW
Talk Derby To Me! This Saturday Is The Scottsdale Polo Party’s Kentucky Derby Party – http://bit.ly/2GSp6NP
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
Agriculture, cattle, outdoor recreation prepare for water cutbacks. “Some industries depend on water and with a drought going on 20 years in Arizona, they have to adjust. Here is a sampling of what a few water-dependent industries are doing.” AZ Cap Times (PAYWALL). http://bit.ly/2GNBqOl
ACLU drops lawsuit after Gosar implements new social media policy.“The American Civil Liberties Union has dropped its lawsuit against Congressman Paul Gosar, saying it now has assurances that constituents won’t be blocked from posting comments he does not like on his Facebook page.” Cronkite News. http://bit.ly/2vv4o0h
Dems complain panel to pick judges lacks diversity. “Senate Republicans confirmed five nominees to the state Commission on Appellate Court Appointments Tuesday over Democratic objections that Gov. Doug Ducey and the Senate failed to meet a constitutional requirement that the commission reflects Arizona’s population.” AZ Cap Times (PAYWALL). http://bit.ly/2DHGhQm
Dems fire first salvo in 2021 redistricting fight. More on the rancor over the Commission on Appellate Court Appointments, and how the “makeup of the commission, especially the lack of partisan balance, may come back to haunt Democrats in 2021 when it selects nominees for the next Independent Redistricting Commission.” Arizona Mirror. http://bit.ly/2XVbreI
Valley suburbs rate higher than Phoenix for Hispanic entrepreneurs, but all rank low. Now that the main findings of interest have been revealed via the headline above, why even bother checking out “2019’s Best Cities for Hispanic Entrepreneurs”? Because WalletHub studies are mucho divertido, that’s why! http://bit.ly/2vuYV9t
