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
Buckeye regulations uniquely bad for homebuilders. City of Buckeye building requirements for new subdivisions are adding months to new development timelines and increasing costs for builders and homebuyers. RLGR. http://bit.ly/2JEgpZj
Thomas Galvin, Rose Law Group regulatory attorney, talks to 12 News about opening banking to cannabis businesses. “Because the sale of cannabis goes against federal law, even medical marijuana facilities can’t put their cash in a bank. Arizona Attorney General Mark Brnovich is pushing for a law that would change all that.” WATCH. http://bit.ly/2JLcR7X
Coolidge Nikola plant lands in the top 20 deals by industry magazine.(Disclosure: Rose Law Group represents Saint Holdings.) “[Site Selection Magazine, the official publication of the Industrial Asset Management Council] has listed Nikola Motor Company’s choice to bring its manufacturing plant to Coolidge as one of the most noteworthy business decisions of the year.” Coolidge Examiner. http://bit.ly/2vW0i19
New River development could move forward. El Dorado Holdings seeks a rezone for its Riverview project. A change in density would make way for 170 new homes at 43rd Ave. and Circle Mountain. Rio Vista Village Planning Committee will hear about it tonight, and Foothills Focus has a preview. http://bit.ly/2WE4wGy
Queer Eye’ designer Bobby Berk praises Phoenix in clip posted by Mayor Kate Gallego. “Phoenix Mayor Kate Gallego teased her Twitter followers Friday with a photo alongside the interior designer, who flew from California in a whirlwind weekend trip,” AZCentral reports. (Dealmaker has learned that one of Berk’s stops was the ribbon-cutting event for Maracay’s new South Mountain community, Avance.) WATCH! http://bit.ly/2w0DoWo
Builder 100 firms banking on boomers. “Nearly half of the firms on this year’s Builder 100 list are staking a claim to the rapidly changing active adult home-buying market.” Builder. http://bit.ly/2YsFw5y
Tempe is getting creative as it tackles its affordable housing problem. But is it enough? “Rising costs have put a squeeze on renters and buyers around metro Phoenix, but the need for affordable housing is front and center in Tempe.” AZCentral. http://bit.ly/2vW0qOb
Visiting what’s left of Phoenix’s last great shopping mall. In a New Timespiece that could’ve been titled Ann Newman & Friend’s Excellent, Albeit Bittersweet, Adventure, reporter Robrt Pela visits a mostly deserted Metrocenter and takes a trip down memory lane with two former frequenters of what was once the “biggest shopping mall in the Southwest.” http://bit.ly/2YtBWYS
Two new hotels break ground in West Valley. “The two hotels, Tru by Hilton and Springhill Suites by Marriott, will have a combined 178 rooms and share a corner off Interstate 10 and Bullard Avenue [in Goodyear].” AZCentral. http://bit.ly/2VDtnxS
Caliber and Ryan break ground on Opportunity Zone project. The project, Tucson Convention Center Hotel: A DoubleTree by Hilton, is Caliber and Ryan Companies’ first OZ project in Arizona and just the “second hotel to open in Downtown Tucson in the past 42 years.” AZRE. http://bit.ly/2W9vXLC
PV Medical Plaza receives council approval following local dialogue. Applicants were seeking “a new medical building, new parking area, two new parking canopies and new signage.” Abutting neighbors had concerns. But “compromise made by both sides” led to a “proverbial and a profound win-win.” PV Independent. http://bit.ly/30npbki
Maricopa economic developer, now in final week on job, wins state award. It’s congratulations! — and farewell — to Denyse Airheart, who is leaving town but “going out on top” after being “named Economic Developer of the Year for small communities by the Arizona Association for Economic Development.” Maricopa Monitor. http://bit.ly/2HuqR3c
Light rail extension to open this weekend. All aboard to Gilbert Road in Mesa! Reporter Mike Sunnucks has design details and opening-day info in RLGR. http://bit.ly/30iOJzb
Yuma to vote development impact fees. Yuma City Council is scheduled to vote Wednesday on keeping development impacts fees flat, turning down recommended increases from a consultant. Mike Sunnucks has the report in RLGR. http://bit.ly/2Q5X1FL
Pollack: Tariffs. <- That was the “big economic news last week.” And while “there are winners and losers” resulting from the 15% jump in fees on imported Chinese goods, The Monday Morning Quarterback remains upbeat about “the economy as a whole.” Data Snapshots include… U.S.: • Blue Chip Forecast • Job Openings • CPI • Mortgage Rates. AZ: • Listings & Resales • CRE data – Greater Phoenix. http://bit.ly/2Yqm35F
[REGIONAL] Utah’s largest homebuilder is on a ‘warpath’ to create affordable housing. “[Clark Ivory] sees himself as siding with future generations and as part of the solution to one of the state’s most vexing economic and policy challenges. But plenty of existing homeowners see Ivory Homes as a problem all its own — a homebuilder eager to cash in by packing people into high-density developments.” SLT. http://bit.ly/2WHJs27
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
California activist Tom Steyer jumps into APS fight, encourages protest over rate hike. “Steyer is advocating for Arizona regulators to reverse the 2017 rate hike that has drawn complaints from thousands of customers.” (RELATED, also in AZCentral: “[OPINION] California billionaire Tom Steyer isn’t just mad at APS. He wants to get even.”] http://bit.ly/2VDPa8o
Maricopa County is particularly vulnerable to a measles outbreak, researchers say. The same research team that nailed down “where the Zika outbreak would strike” now “lists Maricopa County as one of the U.S. counties most likely to experience a measles outbreak.” AZ Mirror. http://bit.ly/2YAykoj
Poll: McSally, Kelly tied in Arizona. “Sen. Martha McSally (R-Ariz.) is statistically tied with her top challenger, retired astronaut Mark Kelly (D), long before either candidate begins selling themselves to voters in paid advertising, a new poll [from OH Predictive Insights] shows.” The Hill. http://bit.ly/2HnYovD
