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The Dealmaker: 6/10/2019

Posted by   /  June 10, 2019  /  No Comments

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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

Second round of O-Zone guidance provides ‘much-needed answers,’ says Dan Gauthier, Rose Law Group transactional attorney handling many Opportunity Zone investments. Dan Gauthier tells RLGR: “With this second round of guidance on Opportunity Zones, the Treasury department is optimistic investors have the answers they need to move forward with their respective projects.” For an overview of O-Zone Guidance: Round Two, tap to Multifamily Executive. http://bit.ly/2KA7etA

3 in-house finalists selected for next Pinal County manager. County Manager Greg Stanley looks to step down in October and one of these three finalists will be his replacement: “Louis Andersen, public works director for almost six years; Chris Keller, chief civil deputy in the Pinal County Attorney’s Office; [or] Leo Lew, assistant county manager.” PinalCentral. http://bit.ly/2XDR7Ph

New plans filed for Caesars Republic Scottsdale hotel at Scottsdale Fashion Square. Reporter Mike Sunnucks tracks down the latest submitted plans (including renderings) for the 11-story, 266-room luxury hotel slated to be built on the Macerich-owned property. RLGR. http://bit.ly/2WxYQSt

Mesa to consider Lennar townhouse development plans at Eastmark. P&Z will hear a request from Lennar Homes on Wednesday for a proposed 121-unit townhouse development in the Eastmark MPC. Reporter Mike Sunnucks has the preview in RLGRhttp://bit.ly/2R84uVC

More housing proposed in downtown Mesa. And more reportage from Mike Sunnucks! — this time with info on a request from Huellmantel Affiliates to expand the Residences on First apartments on First Ave. and MacDonald. -> http://bit.ly/2WAvgvP 

Tempe plans tax incentive for downtown land in Farmer Arts District. “The deal… dates back more than a dozen years when the city sought to develop a long, narrow stretch of property it owned near the Union Pacific railroad tracks.” AZCentral. http://bit.ly/2WzZizQ 

Museum Square receives purchase, sale agreement deadline extensions.Scottsdale has approved a “second amendment” to a “purchase and sale agreement” for a “portion of city-owned land in Old Town” for the purposes of Museum Square, a proposed project that includes “a hotel with structures 150 feet high with 190 rooms and over 300 residential housing units across four separate buildings.” SI. http://bit.ly/2KFpSQB

Pinal supervisors skeptical of subdivision proposal. “After Pinal County supervisors expressed skepticism about a proposal for a new moderate-to-low-density subdivision near Florence, the agent requested a continuance to design a project with a better chance of passage.” Details in Flo Reminder.http://bit.ly/2R3Dzdg

Resale price of single-family Valley homes sets barrier-breaking record in May. Not only did the “single-family resale price of a home in Maricopa County” cross the $300,000 threshold for the first time, but May also saw the “highest number of sales since June 2011.” A close look at the record numbers along with factors fueling demand, in AZ Business Maghttp://bit.ly/2EYmVag

Maricopa home prices on the rise. Realtor Brian Petersheim highlights local housing-market data for May and has an update on new builds planned by K. Hovnanian, Lennar and DR Horton — at InMaricopahttp://bit.ly/31psJ6o

Ranking Arizona: Top 10 real estate agents and teams. “Here are the Top 10 real estate agents and real estate teams in Arizona, based on public voting for the 2019 edition of Ranking Arizona.” http://bit.ly/2F0lFna 

New We-Ko-Pa Casino Resort topped off. “In addition to marking an important milestone in the construction project, the ceremony [hosted by the Yavapai Nation] also marked the debut of the new name We-Ko-Pa Casino Resort (formerly Fort McDowell Casino) and the new logo.” AZRE. http://bit.ly/2R495Is

Maricopa ponders joining trade commission with Sonora, Mexico. “The city of Maricopa is looking to join the Arizona-Mexico Commission to expand the trading market for the city.” As Mayor Christian Price observes, “Anytime you’re dealing with economic development, the more connections you have, the better off you’re going to be.” Maricopa Monitor. http://bit.ly/2I8pc4S

Residents concerned future I-11 from Mexico to Canada would pave over long-standing homes. “The proposed I-11 would stretch from Nogales to Wickenburg before connecting with U.S. 93, but officials say it’s too early to say whether it would bulldoze any homes in its path.” AZCentral. http://bit.ly/2wLhtTR

Denette Dunn announces candidacy for Peoria council. “Less than a month after being appointed as the Pine District councilwoman, Denette Dunn has revealed plans to run for the upcoming special election.” Peoria Times. http://bit.ly/2IzzqtI

Bay Area exodus sparks Phoenix rallying cry: ‘Time to get out.’ “The Greater Phoenix Economic Council plans to have 24 cars hit the road, driving through tech corridors throughout the Bay Area. The cars will feature banner ads that read: ‘#CAstruggles are Real! TimeToGetOut.io.’ ” Much more on Phoenix’s flee-Cali “pitch to Bay Area tech companies” via PBJ. (Subscriber Content). http://bit.ly/2wMC36c

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

Click here for 2019 Arizona Legislative News

BREAKING! Coyotes sale almost done. “Billionaire entrepreneur Alex Meruelo is in the advanced stages of purchasing a majority share of the Arizona Coyotes, league sources confirmed…” READ ON! http://bit.ly/2WS6dnl

U.S. Supreme Court agrees to hear 5 new cases, including 1 from Arizona. “The petitions vary widely, encompassing legal issues in environmental law, torts, international family law, racial discrimination, and the death penalty.” Law and Crime. http://bit.ly/31nGmCX

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