The Dealmaker: 5/13/2019

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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

Coolidge considering zoning changes to allow data centers on farmland, industrial areas; Rose Law Group Founder and President Jordan Rose weighs in. “Coolidge is wise to adopt policies to make it as business friendly as possible to this desirable use,” said Jordan Rose, president and founder of Rose Law Group, which is handling data center developments. Those policy/zoning changes are on the agenda for tonight’s meeting of the Coolidge City Council. Reporter Mike Sunnucks has a preview, along with more from Jordan Rose, in RLGR.

New Opportunity Zone reporting requirements aim to measure social impact; Dan Gauthier, Rose Law Group transactional attorney handling many O-Zone investments, comments. Dan Gauthier tells RLGR: “The qualified Opportunity Zone program, as currently enacted, requires no social impact or efficacy-based reporting by qualified opportunity funds. This proposed legislation is an attempt to fill that void.”  What info will OZ investors be required to provide? Find out in Forbes

Deep dive into shopping malls: Kierland, Scottsdale Fashion Square up, Biltmore Fashion Park down. A roundup of Arizona’s best performing shopping malls in Q1. Reporter Mike Sunnucks has the sales/sq. ft. data along with mall rankings, in RLGR.

Retail rush: Goodyear. The city’s “retail boom” shows no “signs of slowing anytime soon,” reports Business Facilities magazine, which also looks at how the area has emerged as a “hotbed for data centers and technology innovation.”

Mesa moving on bold downtown plan. “Mesa’s downtown is one step closer to a major makeover. During a recent City Council study session, Downtown Transformation Manager Jeff McVay gave an update on a large downtown project and introduced two others.” EVT.

Rep. Raul Grijalva to investigate whistleblower’s claims about Vigneto project. “U.S. Rep. Raúl Grijalva says he’ll investigate a longtime federal official’s allegations that he was pressured politically to reverse a key decision on a 28,000-home Benson subdivision to smooth the way for its permitting.” Arizona Daily Star.

New condo sales, prices take a dip in metro Phoenix. Reasons for the “slowdown,” plus a handful of ZIPs where prices are STILL climbing (one increased “233%” YoY!), in this real estate report from Catherine Reagor at AZCentral

Arizona first-quarter foreclosures. “One in 1,146 properties in Arizona started the foreclosure process during the first quarter of the year.” Where that ranks us among other states; plus, can Arizona really boast the biggest foreclosure-rate dip from a year prior? In Arizona Business Daily

Club West sale not complete. “Former owner Wilson Gee confirmed last week he had reached an agreement to sell the course for $850,000.” AFN reports, however, the “sale has not been finalized yet and it may be a while before the potential buyers decide to seal the deal.”

City purchases land in Old Town Peoria. “Real Estate Development Officer Scott Whyte said the purchase [five properties at 83rd Ave. and Jefferson St.] is part of an ongoing land acquisition program in Old Town Peoria intended to further revitalization efforts in the area.” YourValley.

Urban Axes eyeing June opening for ax-throwing bar in downtown Phoenix adding to Warehouse District mix. Urban Axes — a bar concept which combines ax throwing with socializing — is looking to open at 402 South First Street. For more on Urban Axes, tap to Mike Sunnucks’ report in RLGR, chop-chop!

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

Click here for 2019 Arizona Legislative News

Key Republicans oppose governor’s budget, a flashback to 2006. This legislative session is not the first where two Republicans took on their party leaders and governor in opposing the proposed state budget. By RLGR Senior Reporter/Writer Phil Riske.

SNL tests loyalty with Trump defenders. In a “Meet the Press” spoof, Chuck Todd (Kyle Mooney) interviews Senators Lindsey Graham (Kate McKinnon), Susan Collins (a spot-on impression by Cecily Strong) and Mitch McConnell (Beck Bennett) about supporting President Trump. Enjoy here:

Tempe construction firm files 2 protests over border wall contracts.Fisher Sand & Gravel Co. claims “it was wrongly left out of the bidding process” — and one of its protests “got the Army Corps of Engineers’ attention.” KTAR.

Where automation will wipe out the most jobs in the U.S.; risk small for Arizona. An Axios report on automation featuring a human-designed heat-map where a simple hover will AUTOMATICALLY bring county-by-county percentages for jobs that “are at high risk of automation.”

Arizona among states spending big on make-or-break 2020 census. But Arizona hasn’t splurged anywhere close to as much as California has on “census prep.” Roll Call.

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