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
Belfiore: New home sales see biggest demand jump since 2007. Mike Sunnucks checks in with real estate consultant Jim Belfiore in what is becoming a weekly housing-market feature for RLGR. Nice! This week, Jim reveals what has sparked home sales to skyrocket 16 percent the past month — the largest single-month jump of new home sales in many many years. http://bit.ly/2ZBv3oV
Data center users sought for 640-acre Pinal County site. (Disclosure: Rose Law Group represents Saint Holdings.) “The land is near the confluence of [I-8] and [I-10],” and “already has access to high-end fiber optic capabilities.” As Saint Holdings President and CEO Jackob Andersen puts it: “Pinal County is a hub for utilities that crisscross the area, and we are in the epicenter of things that crisscross.”PBJ (Subscriber Content). http://bit.ly/2Y0Z6pT
Coyotes sold! “The NHL Board of Governors on Wednesday unanimously approved billionaire entrepreneur Alex Meruelo to purchase a majority share of the Arizona Coyotes.” Who is Alex Meruelo? Will he keep the Coyotes in Glendale? Check it out in AZCentral. http://bit.ly/2L0tr42
HEMP RULES! – Do CBD businesses have to follow the Arizona hemp rules? Omar Abdallah, Rose Law Group attorney handling hemp-related issues, explains. What kind of oversight, if any, does the Arizona Hemp Program have over CDB products? Omar Abdallah tells us in RLGR. http://bit.ly/2WRi1lr
The future of housing rises in Phoenix. (Disclosure: Rose Law Group represents Offerpad.) WSJ looks at how Offerpad and other investors are “using algorithms to reshape” the “$26 trillion” residential real estate market, “starting in Phoenix, the petri dish for America’s housing experiments.” (Subscriber Content). http://bit.ly/2IuBlRP
PulteGroup names Arizona division president Rebecca Lundberg, “who most recently served as vice president of operations for the… company’s Northern California division, will oversee all aspects of the division’s day-to-day homebuilding operations in the metro Phoenix and Tucson areas.” PBJ. http://bit.ly/2x4bFoB
Brett Burningham appointed Queen Creek development services director. As the town’s planning manager for the past five years, Brett Burningham helped steer a “variety of crucial projects.” With more big projects right down the road, Burningham gets to kick the development mo into high gear as he takes on the “well-deserved position” of development services director. QCI. http://bit.ly/2ZyUjw7
Phoenix City Council approves measure to extend Foreign Trade Zone, tax breaks to $700M Lucid Motors plant. The council gave the go-ahead for Phoenix officials to work with the city of Casa Grande and the U.S. Commerce Department on extending FTZ 75 to 496-acre Lucid plant in Pinal County, reports Mike Sunnucks in RLGR. http://bit.ly/2ZBK6PK
Legislators reflect on 2019 session at WESTMARC breakfast. At the recent WESTMARC Legislative Agenda Breakfast, “Reps. Lorenzo Sierra and Joanne Osborne and Sens. Tony Navarrete and Anthony Kern” talked taxation, infrastructure, water and more. WVV has the recap. http://bit.ly/2xfV7Kt
Gilbert looks at land annexation, new residential development. The land is at Recker and Ocotillo. The project is called Terraza. Camelot Homes is the builder. Mike Sunnucks is the reporter and has the details in RLGR. http://bit.ly/2WWnIi0
Swanky development rockin’ ranch site. Back in May, Mike Sunnucks reported in RLGR on Pacific Rim Group’s plans to redevelop the former Rockin’ R Ranch in Mesa into a townhouse project called Zen on Baseline. Here’s more on plans for the “trendy gated” community, this time from EVT.http://bit.ly/2J2Osc2
RCSCW negotiates fees for new homes. The Recreation Centers of Sun City West Governing Board has “negotiated development fees with K. Hovnanian,” which is building “50 new residences” in the area. Fee details in YourValley. http://bit.ly/2IYPSUy
Feds stand by decision on Arizona development near San Pedro River.The U.S. Fish and Wildlife Service says it is “standing by” its “previous determinations” regarding El Dorado Holdings’ plans for Villages at Vigneto — a move “that could smooth the way for” the “proposed 28,000-home development near” Benson. AZCentral. http://bit.ly/2WTM3oN
Church proposes mixed-use development for Scottsdale project. Impact Church has submitted plans to bring Class A office space and restaurants to its Core Center development at Hayden Road and Northsight Boulevard. Mike Sunnucks has more in RLGR. -> http://bit.ly/2IurMSM
Controversial gas station’s future gets hazy. “The owner of a site where a controversial QuikTrip gas station would be located along the only way in or out of an Ahwatukee community has withdrawn a request for city review of some site plan changes, leaving it unclear whether the company has abandoned its plan.” AFN. http://bit.ly/2RnZqfV
Loop 202 extension could create new Phoenix employment corridor, experts say. Phoenix could be on the verge of an “employment scene like Chandler has in the Price Road corridor.” And an expert panel at an “event sponsored by Arizona Commercial Real Estate Women” said the Loop 202 South Mountain Freeway extension is a big reason why. PBJ (Subscriber Content). http://bit.ly/2L4ERUH
Eloy council reviews 5-year economic plan. Serving as a “detailed guideline to show how the city is doing, what can be done better,” the Economic Development Strategic Plan zeroes in on downtown, infrastructure and housing, jobs, and the city’s image. Eloy Enterprise. http://bit.ly/2WWnFI6
Sedona to update building codes. Hey, Sedona? 2005 just called and wants its building codes back! “The message was clear: Sedona is behind the times in terms of many of its building codes, but the Sedona City Council plans to change that in the near future.’ Red Rock News. http://bit.ly/2xcihB3
[REGIONAL] Water officials tout Colorado River as reliable source of water for years to come. At a community gathering up in Utah last week, folks heard from “three men who claim there’s no need to worry concerning the Colorado River’s ability to deliver water.” St. George News (RELATED, from KUTV: “Utah joins water officials from 7 states to urge California to preserve Colorado River.”) http://bit.ly/2L2NgIc
Cameron’s $5M + deals of the day –http://bit.ly/31MVBpm
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
A driven heart: Carolyn Jackson propels heart disease conversation.(Rose Law Group congratulates client and friend, Carolyn Jackson, for all of her fantastic work to enhance our overall community.) This month, Carolyn Jackson will receive the National American Heart Association Award of Meritorious Achievement, a well-deserved honor for “efforts resulting in the staggering sum of funds raised to bring awareness” about heart disease, “the No. 1 killer of both men and women worldwide.” PVI. http://bit.ly/2KsnzBj
Lawmakers approve $45 million to promote NASCAR raceway. “The Joint Legislative Budget Committee certified a plan Tuesday that requires the Arizona Office of Tourism to spend $1.5 million a year for 30 years promoting ISM Raceway.” The story behind the promo deal in ACT. http://bit.ly/2ZBrHlQ
Corporation Commission proposes outlawing electricity shutoffs from June through September. “Chairman Robert Burns asked the commission staff to file a proposal for utility shutoffs following news that a woman died last year in part from heat exposure after Arizona Public Service Co. cut off her electricity when she was behind on her bills.” AZCentral. http://bit.ly/2N0qPpG
APS CEO Don Brandt to receive award after woman’s death revealed. The award, from the Arizona Chamber of Commerce, “has gone to the likes of Barry Goldwater, Sandra Day O’Connor, and John McCain.” Add Don Brandt to that list, one week after news surfaced about a woman dying after an unpaid bill resulted in APS shutting off power to her home on a 107-degree day. New Times.http://bit.ly/31NTYb4
