The Dealmaker: 6/28/2019

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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

What did you do yesterday?Peter Madrid, MadridMedia owner and CEO. It’s a real estate heavy morning followed by a mode-changing afternoon for the former USA Today and Arizona Republic editor turned entrepreneur, in this latest look at busy schedules of some of Arizona’s top real estate players.

‘Product wins Projects’ and other lessons and challenges for the economy and commercial real estate market. Strong office demand in Tempe and Chandler, industrial deals in the West Valley and big data centers deals from Goodyear to Mesa. And that just scratches the surface of development news reporter Mike Sunnucks caught from industry hotshots at this morning’s Valley Partnership breakfast. Get all the details in RLGR

The heat isn’t taking the steam out of early summer home sales. When temps rise in Phoenix, the volume of home sales usually falls. Not this summer! As real estate consultant Jim Belfiore says, things are “hopping,” — and he’s got the data to prove it, in this Mike Sunnucks/RLGR report.

A long road: Town Triangle saga concludes with final plat. “The uniquely wedge-shaped plot of Paradise Valley land… has received a final plat municipal approval after years of effort.” Also earning “municipal approval” were Geoffrey Edmunds and Rod Cullum, both of whom Town Council praised for sticking with the Ironwood Golf Villas project through such an “arduous process.” PVI.

Tempe land deal involving tax breaks under scrutiny by critics. A “sweetheart deal” on Farmer Ave. that hasn’t delivered what was originally promised? Or a much-needed development that “has spurred growth in what was once a blighted industrial area”? AZCentral.

Home affordability improves in Q2. Eighty-two percent of 480 counties analyzed by ATTOM across the country showed affordability improvement. “Still, the cost of owning the typical home still remains out of reach or a significant financial stretch for the nation’s average wage earners.” Builder.

Trump exec order takes dead aim at “barriers” to housing affordability. “The question is, where are the low hanging fruit opportunity areas to ‘tear down red tape’ in order to build more affordable housing?” By John McManus in Builder

This graphic shows which rooms take up the most space in U.S. homes. If bedrooms in your home are the size of a small closets, while bathrooms are bigger than the Wrigley Mansion lobby, you just might be suffering from a “space allocation” problem (or perhaps something more serious). So what’s the best approach for divvying things up? FIXr tries to sort it out.

Google picks Mesa for giant data center. Mesa City Council is poised to approve “a tax incentive agreement” that would see Google “build a massive data center in the emerging Elliot Road Technology Corridor.” Mesa Mayor John Giles calls it “a home run” deal. EVT.

Marana may annex Pinal Airpark, surrounding land. With “the economic development prospects of Pinal Airpark,” which “houses a number of growing aerospace companies,” the annexation “would be a ‘win-win’ for both Pinal County and the town,” says Pinal County Supervisor Anthony Smith. PinalCentral

Here’s what grocery stores of the near future will look like. Changes — from meal offerings to the checkout process — could be coming to a grocery store near you if things pan out as a new report from CBRE predicts.

Redevelopment of Historic American Legion site, potential demolition continues to move towards RFP. The city of Phoenix owns the American Legion site, and this week it added some changes to a planned redev RFPs for the W. Polk St. property. Reporter Mike Sunnucks has the details in RLGR

Tempe City Hall and its inverted pyramid design to get renovations. And reporter Mike Sunnucks knows exactly what Dick & Fritsche Design Group and Core Construction have planned. In RLGR.

Lakes Course tax case also is dragging on. “As Ahwatukee Lakes homeowners and golf course owner Wilson Gee await the Arizona Court of Appeals ruling on their five-year-old legal fight, a less publicized battle involving the site and county taxpayers has grinded to a halt.” It’s Maricopa County versus True Life Companies — in AFN.

Women break mold with big Chandler project. “Brittany Calbert with McCarthy Building Companies, Kim Moyers with the City of Chandler, Ashlee Pounds with Kitchell CEM and Jackeline Kafie with PK Associates — rose through the ranks and lead significant parts of the [Oregon Street Garage project].” AFN.

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

Click here for 2019 Arizona Legislative News

Rose Law Group adds attorney Olen Lenets to Litigation Department. Olen Lenets brings a diverse body of legal experience to RLG. As Rose Law Group Founder and President Jordan Rose notes: “His work on real estate, zoning, permitting, cannabis and litigation matters bring unique insights that will greatly benefit both our firm and our clients.” RLGR. 

Another Supreme Court ruling backs Washington NFL team keeping their brand. “On Monday, the Supreme Court ruled that the Act’s prohibition of immoral or scandalous trademark registrations violates the First Amendment.” The decision deals a blow to efforts by Arizona Native American activist Amanda Blackhorse, who has been fighting for the name’s removal. AZCentral.

Arizona ranked No. 2 in personal income growth to start 2019. The final quarter of 2018 saw personal income in Arizona grow faster than every state but West Virginia.” Get the numbers in KTAR. 

5 takeaways from night 2 of the Democratic debate.KNAU kicks off its round-two recap with so much praise for Kamala Harris, that it had many here at Dealmaker HQ thinking that ALL five takeaways would be devoted ENTIRELY to the California senator’s “crisp” debate performance. We were wrong. ->

Maricopa Co. approves $6.1 million contract to update vote-counting system.The move comes in the wake of  “glitches at the polls” in 2018 that “led to long waits for voters.” As a way of further helping to “smooth future balloting” issues, supervisors also “approved a new executive director of elections” position. CN.

Judge rules McSally can keep appointed Senate seat until 2020 general election. Bottom line: “Judge Diane Humetewa rejected arguments that the U.S. Constitution requires there be a special election within a year — if not less — when there is a vacancy in a Senate seat.” Details in ADS.

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