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The Dealmaker: 5/7/2019

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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

Serve and volley: Q&A with Lee & Associates Andrew Cheney. Reporter Mike Sunnucks catches up with Lee & Associates principal Andrew Cheney to get the former tennis pro’s take on the CRE market as well as his days on tour. RLGR. http://bit.ly/2Wsb3E1

Scottsdale developer eyes $200M in Valley opportunity zone projects.“Virtua Credit has helped secure financing for two local developers who will participate in the projects, which are focused in the West Valley. One of them, Scottsdale-based Virtua Partners, is an affiliate of Virtua Credit, and the other is Scottsdale-based Quyp Development.” PBJ (Subscriber Content). http://bit.ly/2PSGu80

Lennar looks to bring high-tech, Amazon-enabled ‘Connected Homes’ to Apache Junction. In RLGR, Mike Sunnucks looks ahead to this evening’s A.J. Council action that could pave the way for Lennar to bring 179 Samsung-outfitted homes to Southern and Goldfield. http://bit.ly/2Wwgzps

Redfin migration report: Phoenix is the top destination. Folks seeking “affordable homes and lower taxes” helped the Valley hit the “highest net inflow on record not only for Phoenix, but for any metro area to date since Redfin began reporting net migration data.” http://bit.ly/2JoSugD

55Places’ most popular active adult communities. 55places.com has released its seventh annual list of the 100 Most Popular Active Adult Communities of 2019.” A handful of communities with the name Sun City crack the top 10 — including a ‘Grand’ one in Surprise. (via Builder). http://bit.ly/2J8Jo8n

Mesa approves rezoning for technology park. Sunbelt Holdings has plans for a project called the Mesa Elliot Technology Park West north of Phoenix-Mesa Gateway Airport. And Mike Sunnucks files this breezy but informative RLGR report on last night’s council nod. http://bit.ly/2DXRnRw

Rebirth comes slowly to aging parts of Mesa. Southwest Mesa is getting its groove back “one property at a time” under the city’s Southwest Redevelopment Area Plan, which “includes two of Mesa’s most notoriously distressed properties: Fiesta Mall and, just to the north, the long-vacant Fiesta Village shopping center.” EVT. http://bit.ly/2VOak2Z 

Collaboration bears proverbial fruit as medical plaza proposal inches toward Paradise Valley approval. “Alterations are being made by the Paradise Valley Medical Plaza application to address some concerns voiced by abutting neighbors,” reports PV Independent. “I think in terms of scope and design changes, there is some degree of ‘win’ on both sides,” says one resident. http://bit.ly/2VQLDmC

BLK UNPLUGGED? -Scottsdale bar not music to neighbors’ ears. “BLK Live will likely pull the plug on its bid to expand its outdoor stage following a backlash from local residents frustrated by the loudness of the sound.” But BLK’s live beat will go on “under its existing permit” — so long as it doesn’t exceed 68 decibels? Scottsdale Progress. http://bit.ly/2VPzqP0

Arizona posts 4 percent GDP growth, among best in U.S. And GDP gains topped a handful of states Arizona often competes with for jobs and business site selections. Get the state-by-state GDP numbers, mapped-out, in Mike Sunnucks’ report at RLGRhttp://bit.ly/304tv88

Pollack: An amazing economic picture. “Who’d a thought it?!?!” asks a happily surprised Monday Morning Quarterback, regarding our economic expansion that “will soon be the longest period of growth in U.S. history.”  Data Snapshots include… U.S.: • Unemployment (50-year low!) • Interest Rates • Consumer Confidence • Income • Construction Spending • Pending Home Sales & Prices. AZ: • Home Prices – Phoenix • Sky Harbor Activity. http://bit.ly/2LsWdfO

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

Click here for 2019 Arizona Legislative News

Ducey draws line in sand on rainy-day fund. “Calling an economic downturn ‘inevitable,’ Gov. Doug Ducey is pushing back against demands by lawmakers from his own Republican Party to use an unexpected cash windfall to pay down debt.” A Cap Media Services/Howard Fischer PAYWALLED piece in AZ Cap Times. http://bit.ly/302ilRl
 
Arizona attorney general investigating former Republican lawmaker for lobbying activity. After losing his House seat last year, Tucson Republican — and Fantastic Sam’s salon owner — Todd Clodfelter “re-formed a nonprofit” bent on beating back measures “like the blow-dry bill that cosmetologists oppose.” Too soon? The Sec. of State’s Office apparently thinks so and wants the AG to look into it. AZCentral. http://bit.ly/2VNbDPY

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