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
One BIG Question — for Dan Gauthier, Rose Law Group transactional attorney handling many Opportunity Zone investments. The Federal Government recently gave more guidance on Opportunity Zone regulation. What was the most frequently asked client question the new guidance answered? Read Dan’s response in RLGR. http://bit.ly/30v3z5M
[OP-ED] Not sure which Phoenix City Council candidate to vote for? Consider this. “Voters in south and west Phoenix head to the polls May 21 to elect the last two council members in a reshuffling that began more than a year ago.” Carlos García, an “ultimate city hall outsider,” is facing former Phoenix councilman Mike Johnson in District 8. In District 5, its Phoenix Councilwoman Vania Guevara vs. union activist Betty Guardado. AZCentral. http://bit.ly/2WfEbBF
Housing developers enjoying good times despite shortages, inflation.“Can’t build them fast enough.” More big takeaways in Maricopa Monitor’s coverage of Friday’s Pinal Partnership gathering, where top homebuilders boasted “record” numbers despite having to deal with “headwinds” on a “daily basis.” http://bit.ly/2HKd2gP
[SLIDESHOW] The Stewart apartments to feature highest rooftop pool in Phoenix. (Disclosure: Rose Law Group represents the developer of The Stewart.) The 19-story luxury high-rise “located in the former Circles record store building and atop the former Stewart Motor Company” is set to open at the end of this month. Get an overview and take in a 31-pic preview of The Stewart at azfamily. http://bit.ly/2wbpIIt
Shaded pool and vinyl lead design features at new adaptive reuse hotel. It may not be called the Shady Rest, but the 79-room Arrive hotel on Camelback between Third and Fourth Ave. certainly sounds like it hearkens back to when Petticoat Junction was on the air, with its retro design including record players in each room. Mike Sunnucks has more on the Venue Projects/Vintage Partners adaptive reuse in RLGR. http://bit.ly/2HrjcUc
Phoenix sees explosive growth along Central Avenue. Downtown has “several projects ready to come online in 2019 and plenty more coming in the next few years.” AzBigMedia looks at what’s driving the activity and highlights some of the projects generating the biggest “buzz.” http://bit.ly/2Ek1gsE
What’s the priciest home for sale in metro Phoenix? Check out the first installment ‘Posh Places,” a new weekly feature from AZCentral taking a “peek inside” the “priciest homes in cities around the Valley.” -> http://bit.ly/2LY2Ird
Mayor says PhoenixMart’s heart still beating, but weak. Casa Grande Mayor Craig McFarland took questions from the audience after his Chamber of Commerce speech on Friday. “PhoenixMart has a pulse,” was just one of Mayor McFarland’s many headline-worthy updates about projects in the area. CG Dispatch. http://bit.ly/2VCCSbB
Mesa set to OK controversial land deal. So popular was this news with readers last week that we’re bringing you more about it! EVT takes a deeper dive into Blandford Homes’ plans for the 132-acre site at Recker and Thomas. http://bit.ly/2VEa0zV
Developer requested to transform downtown Mesa. “At 27-acres, this site would be the largest parcel to be developed in the downtown area and could be the largest single development opportunity within downtown for many years to come.” More from the RFQ for this OZ site at the SWC of Mesa and University in BEX. http://bit.ly/2JN9uNI
15 acres annexed from county into Peoria. The annexation — unanimously approved by the city — will make way for Acoma Estates, a new 28-home community from developer KMK, near 75th Ave. and Acoma Dr. YourValley. http://bit.ly/2WP8Jax
Storage facility sought for Scottsdale Entertainment District. Stockdale Capital Partners is looking to put up a “boutique storage facility” which “will be geared towards area businesses.” The lot, at Shoeman and Buckboard, “is one of the few completely undeveloped parcels in downtown Scottsdale. That could be because of its unique zoning situation.” Scottsdale Progress. http://bit.ly/2VBVubZ
Papago Plaza isn’t going away in Scottsdale. Papago Plaza is headed towards demolition and redevelopment. But the shopping center’s name will live on. A Mike Sunnucks’ report in RLGR. http://bit.ly/2HrETnb
Florence council to vote on preferred route for North-South highway. The Florence Town Council wants to make sure ADOT knows it prefers a more eastern alignment for the freeway and will vote on a resolution tonight. A closer look at route via this RLGR report from Mike Sunnucks. http://bit.ly/2VC3n0T
How deadly was Dolphinaris? Deadliest, by today’s standard. “Bottlenose dolphins at Dolphinaris Arizona died at one of the highest rates ever recorded at a U.S. facility exhibiting the marine mammals, according to an analysis of federal agency data.” The Arizona Republic. http://bit.ly/2HrF1Db
Tweet causes firestorm in race to be Tucson’s next mayor. “Educators, activists, and his political enemies quickly weighed in on social media, offering various criticisms” of Steve Farley’s tweet. So what exactly did the former state senator say to spark such uproar? Find out in the Daily Star. http://bit.ly/2WiOPYg
Companies on Wall Street are increasingly taking on real estate risks. “Point will buy an equity stake in your home, while Zillow and Opendoor will take on the risk of finding a buyer… Often, the houses they buy end up getting rented out by giant Wall Street landlords, rather than being sold to individuals.” An Axios report on “Unbundling real estate.” http://bit.ly/2LUGAhh
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
Arizona GOP House, Senate leaders cut budget deal with Gov. Ducey. But will it gain support? “It remains to be seen if lawmakers’ daily allowances dropping last week and the looming Memorial Day holiday weekend will serve as motivators to reach a deal.” AZCentral. http://bit.ly/2WeVItO
Arizona cities, from rich to poor. Two Arizona cities are at the top and bottom of rating scales used by 24/7 Wall Street to decide what are most affluent and ‘worst’ cities in America. By Senior Reporter/Writer Phil Riske in RLGR. http://bit.ly/2LY4l8j
Conflict swirls around bill to honor fallen Navy SEAL. (PAYWALL) The measure proposes that the “highest peak in the Estrella Mountain Regional Park” be named “ ‘Charles Keating IV Peak’ to honor the sacrifice of U.S. Navy SEAL Charles Keating IV.” AZ Cap Times reports, however, that the Gila River Indian Community isn’t exactly thrilled about the idea. http://bit.ly/2JSHrfR
Ducey won’t support elimination of personal exemption for vaccinations.“And the governor insisted that Arizona has been ‘pretty good’ at using education to encourage vaccinations. But the numbers from his own health department tell a different story.” A Cap Media Services/Howard Fischer report. http://bit.ly/2LXBGQI
The NFL concussion settlement just keeps getting worse and worse; Rose Law Group class action attorney Jonathan Udell says order seeks to prevent fraud.Deadspin has the latest developments in the NFL concussion settlement case, including a recent ruling by a federal judge that could “make it even more difficult for players to get paid.” • Jonathan Udell tells RLGR: “In practice, the order will hopefully achieve its goal of fraud prevention without burdening players with time-consuming bureaucratic barriers.” Jonathan’s full comment and the Deadspin report here: http://bit.ly/2QcPs0h
‘Meghan McCain’ is thin-skinned in ‘Saturday Night Live’ season-finale parody. “ ‘SNL’ once again parodied Meghan McCain and her co-hosts on ‘The View’ during the show’s season finale.” http://bit.ly/2ElHKfw
Alec Baldwin leads Trump Oval Office sing-along on ‘Saturday Night Live.’ Pence, Kanye, Giuliani, Mueller, Melania and others all join in on the fun for this Trumpian rendition of Queen’s ‘Don’t Stop Me Now.’ WATCH: http://bit.ly/2EmCDvx
