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
Construction begins on City North in northeast Phoenix area. The “City of the Future,” as it’s been dubbed, is underway! “Crown Realty & Development announced the start of construction activity” on what will eventually have “2 million square feet of office space and other uses, and 2,600 multifamily units.” YourValley. http://bit.ly/2Jbz0Ks
Avondale buying Gila River land after BLM deal, could open large swaths of land potential development. The land buy from the Gila River Indian Community south of the Estrella Mountains could help open as much as 35,000 acres of land. Reporter Mike Sunnucks has more on the land deal in RLGR. http://bit.ly/2X3oSZa
Proposed mixed-use looks to move forward in Goodyear. The 104-acre development, called Goodyear Civic Square at Estrella Falls, would be located on vacant land at 150th Drive and Virginia Avenue/Encanto Boulevard. For a preview of today’s hearing on the Globe Land Investors’ project, tap to Mike Sunnucks report in RLGR. http://bit.ly/2X3oWIo
Lennar Q2 earnings beat estimates. Lennar top execs Miller, Beckwitt and Jaffe point to “favorable underlying fundamentals,” “an increase in incentives” and the “Cal/Atlantic acquisition” as among factors helping the homebuilder beat the street. Builder. http://bit.ly/2RDOmex
AFFORDABILITY ‘HUNTER’ – How to build homes regular people can afford. “Some builders (notably D.R. Horton and LGI) have directed serious attention toward the under-$250,000 new home market, but more needs to be done,” insists housing economist and Forbes’ contributor Brad Hunter. Here are a few “approaches” that Hunter says “will help.” http://bit.ly/2FzS4kx
Maricopa County Board of Supervisors approve $2.57B budget for FY2020. BoS Chairman Bill Gates: “This fiscally responsible and sustainable budget keeps the tax rate steady for our residents while investing in the kinds of technology and infrastructure that works to serve citizens better.” The unpacking of that via budget highlights in YourValley. http://bit.ly/2LkWzTN
Quarter horse association endorses Scottsdale bonds, community leaders join campaign. “The Arizona Quarter Horse Association has endorsed all three bonds — Questions 1, 2 and 3 — with a particular emphasis on Question 2 [i.e., WestWorld modernizations, including horse barn renovations].” Scottsdale Independent also reports that “AZQHA CEO Doug Huls will join the bond campaign’s Steering Committee.” http://bit.ly/2YgfyT4
Gilbert is named ‘Best City for Business.’ What on earth does a municipality have to do to snag such an award? Be like Gilbert, of course! Mayor Jenn Daniels and Town Manager Patrick Banger highlight the town’s “economic development efforts” and “pro-business initiatives” that helped it earn the honor from the Arizona Chamber of Commerce. http://bit.ly/2RBrdJM
Mesa lovin’ results of neighborhood program. “The Love Your Neighborhood program that the city piloted in two west Mesa areas produced remarkable results in their quality of life, officials told City Council last week. Some of the evidence came in the form of before and after photos of specific properties.” That story — and those photos — in EVT. http://bit.ly/2RzkwYI
City announces property closing for hotel in Maricopa. The need for accommodations in the growing city is so great that City Manager Rick Horst’s announcement of the purchase at a recent city council meeting was greeted by a round of applause from those in attendance. Maricopa Monitor. http://bit.ly/2XtMGd6
Updating Coconino County community development plans. “Coconino County Community Development has been working to update the county subdivision ordinance, the county zoning ordinance [which hasn’t been updated ‘since 1984’] and community area plans.” FBN. http://bit.ly/2ZMDwpx
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
Podcast: Why Arizona will probably legalize recreational marijuana in 2020; would be ‘a boon to the industry,’ says Rose Law Group Partner and Cannabis Dept. Director, Laura Bianchi. “The political shifts, combined with softening public sentiment toward marijuana usage, point to a 2020 political season ripe for legalizing recreational marijuana.” LISTEN at AZCentral • Laura Bianchi tells RLGR: “Given the right regulations and overall structure, I believe we are ready for a quality adult use program. Arizona’s medical program has been a success and it would open the door for additional economic and industry growth.” http://bit.ly/2RAlqEl
Azfamily reports Chandler Twitter user posed as teen to catch alleged pedophiles; Evan Bolick, Rose Law Group litigator, comments on the legal ramification of ‘catfishing.’ Azfamily reporter Brittni Thompson checks in with Evan Bolick, who explains why a Chandler man’s ‘catch a predator’ tactics could have him “facing a hefty lawsuit.” http://bit.ly/2KBqLuB
Buy low-tops, sell high-tops: A sneaker exchange is worth $1 billion.“StockX is one of several online marketplaces that have turned resales of shoes into a big — and highly valued — business.” The New York Times. http://bit.ly/2YfxEVs
