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
Another BIG Opportunity-Zone Question — for Dan Gauthier, Rose Law Group transactional attorney handling many Opportunity Zone investments. You ask, Dan Gauthier answers! Here’s the question, the second of five this week concerning Opportunity Zones: What is a question that the new O-Zone guidance has not yet addressed that you feel the marketplace really needs a direct answer on? Read Dan’s reply in RLGR. http://bit.ly/2waUl0D
Crowdsourcing, social media and site selections: Q&A with Surprise Economic Development Director Jeanine Jerkovic. In a Rose Law Group Reporter EXCLUSIVE, Mike Sunnucks catches up with Jeanine Jerkovic to talk about the impact of social media and crowdsourcing on site selections, her work in the West Valley and her recent travels. http://bit.ly/2QgN48y
States sign short-term Colorado River drought plan, but long-term challenges remain. The “landmark deal” signed Monday by “seven Western states” lays out a “path forward” to “reduce the risks of the river’s reservoirs hitting critically low levels. Yet even as they celebrated the deal’s completion…” The rest of the story in AZCentral. http://bit.ly/2JxsBMt
It’s election day in Phoenix: Here’s what you need to know before you vote. “Voters will decide today who will represent west and south Phoenix, ending a year of uncertainty on the Phoenix City Council.” AZCentral. http://bit.ly/2JvPv6X
Ranking Arizona: Top 10 home builders for 2019. “Here are the Top 10 [custom and production] home builders in Arizona, based on public voting for the 2019 edition of Ranking Arizona.” http://bit.ly/2VThyDD
New Arizona Diamondbacks stadium images leaked by architectural firm? One of eight “accidentally” leaked renderings shows a 38,000-seat, retractable-roofed stadium “surrounded by red rocks with skyscrapers in the distance.” This AZCentral report asks, “Could it be envisioned near Papago Park, South Mountain or another natural landmark?” http://bit.ly/2LZa6SZ
Phoenix real estate in April: Sales up 6% YoY, active inventory up 7% YoY.CalculatedRISK returns to Dealmaker with a housing-market news brief for April — the sixth consecutive month “with a YoY increase” in inventory.” http://bit.ly/2QgPCn8
Gilbert OKs plan for hotel, park, housing, more in downtown district.Heritage North Partners “was chosen from among nine bidders interested in developing the vacant property” in Gilbert’s Heritage District. “The plan features a boutique hotel, multifamily housing, two parking structures, office and retail space and an urban park.” View a bird’s-eye rendering and get further details at KTAR. http://bit.ly/2En3nMl
Major hangar project coming to Falcon Field. The project — “a 23-acre development” that would add twenty new hangers to the muni airport, “complete with ancillary offices and manufacturing space” — “could be eligible for preferential tax treatment” due to Falcon Field’s status as an Opportunity Zone. EVT . http://bit.ly/2Hsl1QO
Legacy Sports Arena breaks ground in North Phoenix. The “state-of-the-art” facility near Dove Valley and I-17 will feature two NHL-sized “ice rinks, courts for multiple sports,” plus “an adjoining hotel and restaurant.” It’s looking to open in 2020 and, based on this rundown in The Foothills Focus, that day cannot come soon enough! The place sounds incredible! http://bit.ly/2X0o8ow
Sale of Bondurant School of High Performance Driving closes. “Stig Investments, Inc., a group of entrepreneurs who are racing enthusiasts and automobile collectors, announced [Monday] it has finalized its purchase of the performance racing school.” AzBigMedia. http://bit.ly/30wIurP
Scottsdale to vote on flight path changes for Sky Harbor. With some residents riled up over current flight paths in and out of Sky Harbor, Scottsdale City Council is set to vote on route changes. Full details on the changes available via this RLGR report by Mike Sunnucks. http://bit.ly/2WRjqcF
[GUEST COLUMN] Campana: Historic 1990s efforts by Drinkwater, Goddard. Former Scottsdale Mayor Sam Campana looks back at the mayorships of Herb Drinkwater (Scottsdale) and Terry Goddard (Phoenix), highlighting “how important” they “were at a time when both cities were literally growing (annexing and building) in the ‘90s.” Scottsdale Independent. http://bit.ly/2LWrqbg
Pollack: Continued growth? Most definitely, says The Monday Morning Quarterback, but “at a decelerating rate.” Trade talk figures prominently in this week’s MMQ, as do these data Snapshots -> U.S.: • Leading Indicators • Consumer Sentiment • Industrial Production • Housing Permits & Builder Confidence. AZ: Jobs & Unemployment – Phoenix & Tucson. http://bit.ly/2WRkAVz
Should cities regulate how you design your home? In one state, a “bill was considered in the legislature this year to take away authority from cities and counties when it comes to all manner of building design requirements” Governing. http://bit.ly/2EoRllF
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
Budget deal imperiled in Senate, where 4 Republicans oppose spending plan. “Sens. Paul Boyer, Heather Carter, J.D. Mesnard and Michelle Ugenti-Rita have drawn lines in the sand over a handful of issues.” AZ Mirror. http://bit.ly/2YHXcKF
Move afoot to ban high rates on title loans. “Saying the rates they charge amount to usury [they can be ‘up to 204 percent a year’!], backers of a new initiative seek to outlaw title loans — or at least the interest they are allowed to charge.” A Cap Media Services/Howard Fischer report in EVT. http://bit.ly/2WYGvtR
