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
Arizona farmers can legally grow industrial hemp, but will they take the risk? Jordan Rose, founder and president of Rose Law Group, comments. While “tricky to grow,” hemp has “so many benefits.” Cronkite Newslooks at the “risks and opportunities of a new crop that, come this summer, will be legal to grow for the first time in decades.” • Jordan Rose, who’s been working with farmers and business owners looking to cultivate hemp, tells RLGR: “The Arizona rules were adopted with the idea of allowing our state to become a market leader in hemp production.” http://bit.ly/2JdSDUR
Housing: Submarkets to watch and which one is most surprising. Where do Taylor Morrison and Pulte Homes have nine different subdivisions? Where is development and the supply of homes being moderated by the amount of State Trust Land? What city is seeing a sales volume of 4.8 homes per month on average per community? Real estate consultant Jim Belfiore has all the info in this report from Mike Sunnucks at RLGR. http://bit.ly/2vSwvGW
South Phoenix pegged as next ‘hot area.’ The “South Mountain and south Phoenix area have been avoided by home buyers in the past,” but that’s changing. “There’s no question it’s a hidden gem,” says Maracay President Andy Warren, who talks about the new “hot area’ in this azfamily video report. WATCH: http://bit.ly/2vOXYJz
Toll Brothers named top home builder by Fortune. For the fifth straight year, Toll Brothers has been named the “No. 1 ‘most admired’ home builder in the magazine’s survey of the world’s most admired companies.” As for the home builders rounding out Fortune’s top five “most admired”? Find out via Builder. http://bit.ly/2vSiadi
2019 NMHC top 25 developers. Phoenix-based Alliance Residential notched the top spot among the “most active multifamily developers,” while Atlanta-based Wood Partners came in No. 2. MFE chats with “Matt Trammell, CFO of Wood Partners, about how the company drove this growth last year and what he foresees for the rest of 2019.” -> http://bit.ly/2JwKM3U
Pinal budgets almost $1M for economic development. Perhaps the biggest budget-news coming out of this CG Dispatch report concerns “a study for developing a ‘high-tech corridor’ between [ASU and UA].” Kanavel talks about the study as well as plans for other budgeted analyses, including studies on “retail leakage” and the “film industry.” http://bit.ly/2E0OP5c
Paradise Valley paves way toward Lincoln Drive median compromise.With development stakes high and deadline approaching, “after months of research, engineering input and planning efforts,” town staff has come up with “two clear recommendations” to “address Lincoln Drive roadway improvements.” PV Independent. http://bit.ly/2Hd2t74
Paradise Valley SUP managerial amendment process streamlined. “An update and added steps to the Town of Paradise Valley Special Use Permit Managerial Amendment Process has been unanimously approved by Town Council.” Modifications have been made to Phase II, the “formal project review” portion of the SUP managerial amendment process. Details in PV Independent. http://bit.ly/2JyKR7o
Queen Creek makes economic development, small business focus at council meeting. At a recent council meeting, “Mayor Gail Barney presented two proclamations about economic development’” and Town Council approved “[u]dates to conditional use permits and the site plan review size requirements.” Details in QC Independent. http://bit.ly/2YjGCk7
Chandler best in U.S. to achieve one’s dreams, Hartke tells chamber. Chandler has not only been named the Best Place to Become Wealthy but also declared the “autonomous vehicle capital of the world.” And those accolades were among the main topics of Mayor Kevin Hartke’s address to “business leaders at the Chandler Chamber of Commerce.” Wrangler News has a recap. http://bit.ly/2WAkTEb
WHAT’S IN YOUR COFFEE? – Capital One to open cafe in Scottsdale mall. Enjoy a piping hot mocha while managing your money when Arizona’s very first Capital One Cafe opens early next year at Scottsdale Fashion Square. This financial cafe’ tenant is just the latest in Macerich’s “unique” approach to filling up the renovated mall. PBJ. http://bit.ly/2PVR3aG
Haunted hotel project in 101-year-old Peoria building is creeping along.“The dilapidated Edwards Hotel in Old Town Peoria was supposed to come back to life as a haunted hotel by the end of 2018, but plans to reinvigorate the city’s first hotel are taking a little longer.” AZCentral. http://bit.ly/2LBG1sF
Pima zoning changes allow for taller buildings. The amendment, which “recognizes changing private-sector needs,” would permit building heights up to 90 feet! — but only in some industrial zones. RED News. http://bit.ly/2PVKqVK
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
U.S. surpasses 2 million solar installations as industry looks to ‘dominate’ the 2020s. “The milestone comes just three years after the industry completed its millionth installation, a feat that took 40 years to achieve.” Greentech Media. http://bit.ly/30eABHp
The future of the burger. “From every direction, the underpinnings of everyday life are under challenge — from the jobs Americans once held, to the allies we once embraced, to the decorum we tightly observed. Now, it’s the hamburger.” Axios (For more silliness, enjoy Steve Martin as Inspector Clouseau in “I would like to buy a hamburger.”) http://bit.ly/2VZF94Q
[OPINION] Yuma’s humanitarian emergency. “As hundreds of migrants flow in each week, the city struggles to provide food and shelter.” By Wall Street Journaleditorialist Jillian Kay Melchior. (Subscriber Content) http://bit.ly/2DZqEDY
It’s the NCAA’s turn to investigate the college basketball bribery scandal.“The feds got what they wanted — convictions [of Christian Dawkins and Merl Code], which is the only score that matters to them. Now, it’s up to the NCAA to go after the big names.” Axios, however, sees a “problem” in heading down that road. http://bit.ly/2YhkHKk
2nd Arizona lawmaker holds out on state budget, demands unrelated legislation. Sen. Heather Carter, R-Cave Creek “said she won’t vote for a spending plan unless the state gives victims of childhood sexual abuse more time to sue their attackers,” reports Cap Media Services’ Howard Fischer in Arizona Daily Star. http://bit.ly/2VuCVev
