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The Dealmaker: 6/5/2019

Posted by   /  June 5, 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

Timeline set for construction of huge Pinal County solar farm. (Disclosure: Rose Law Group represents Saint Holdings.) Get the inside track in PBJ concerning construction start and finish times for the “largest solar farm in Pinal County.” (Subscriber Content). http://bit.ly/2XBIapu

Home builders see ‘horizontal’ costs go vertical. Upward cost pressures intensify as new developments sprout and more new homes get built in Maricopa and Pinal counties. Real estate consultant Jim Belfiore, Maracay Homes President Andy Warren and LAO CEO Greg Vogel provide insight in this RLGR report by Mike Sunnucks. http://bit.ly/2WMCjk6

SCOOP: Gilbert goes national with jobs, more tepid towards new apartments. Gilbert Mayor Jenn Daniels talks both job growth and maxing out on multifamily in this Rose Law Group Reporter EXCLUSIVE from Mike Sunnucks. http://bit.ly/2XsaomD

Glendale looks at farm annexations, 2.6 million-square-foot development off Loop 303. The city is considering bringing in 161 acres of farmland west of the Loop 303 from Glendale Avenue to Bethany Home Road. What type of developments are being eyed for the “Cotton Properties”? Find out in this RLGR report from Mike Sunnucks. http://bit.ly/2EWaiwi

Johnson Utilities is suing EPCOR.San Tan Times reports that Johnson Utilities filed the suit last week, alleging in part that “EPCOR ‘sought to purchase Johnson Utilities by making an offer at a substantially less than reasonable value.’ ” Tap on to access full documentation on the lawsuit. http://bit.ly/2KuFF4T

Builders launch initiatives to capitalize on rental demand. And “Toll Brothers is leading the charge, putting [‘a relatively modest’] $60 million into a build-to-rent venture,” with metro Phoenix among the initial target markets. REALTORMag. http://bit.ly/2HWvx2Z

Sustainable multifamily infill project to be added to Roosevelt Row. Eco Phx, a five-story, 70-unit multifamily O-Zone project from Habitat Metro, will break ground this summer at Third Ave. and Roosevelt. “Tim Sprague, a partner at Habitat Metro, described the project as ‘something that has never been built in this community.’ ” PBJ (Subscriber Content) http://bit.ly/31d3R1l

Here are the most (and least) expensive Valley neighborhoods for apartment renters. What neighborhoods boast highest rents in metro Phoenix? Where are the bargains? Find out in PBJ’s 21-image slideshow, PLUS swipe through key info on 90 projects in the multifamily pipeline. http://bit.ly/2XtXfcI

The best states for homeowners in 2019. In “SmartAsset’s fifth annual study on the best states for homeowners,” ARIZONA leapfrogs six spots from 2018’s ranking and is now banging on the Top 10’s door. http://bit.ly/2HYYFXz

Club West golf could return this fall. “Although the issue of finding cheaper water appears to remain unresolved, the prospective owners last month presented their plans to the Foothills Club West Community Association board, promising a huge investment beyond the $850,000 they’re to pay for the site.” AFN. http://bit.ly/2WdD95f

Coolidge council ponders 8-percent hike to impact fees. “The city previously lowered the fees in an effort to attract new businesses. However, with corporations expressing growing interest in Coolidge, officials now believe the community may just be gearing up for a boom.” Coolidge Examiner. http://bit.ly/318eySY

Medical marijuana deliveries made legal in Glendale. Aiming to “decrease the use of illegal delivery services” and “increase origin-based sales tax revenue,” Glendale has “approved a law change allowing medical marijuana dispensaries in the city to deliver to customers.” Deliveries can begin later this month, and YourValleytakes a look at how it will work. http://bit.ly/2wNrUGx

[REGIONAL] Beazer to open affordable community in Henderson, Nev. • Union Trails • 135 townhomes • 1,235 to 2,092 sq. ft. • Five floor plans • From the low $200s • Rendering and more • In Builderhttp://bit.ly/2Za18Uy

Cameron’s $5M + deals of the day – http://bit.ly/2IpfgCZ

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

Click here for 2019 Arizona Legislative News

Arizona politicians react to House approval of immigration bill. “One Arizona congressman said the American Dream and Promise Act was ‘right’ and ‘smart.’ Another called it ‘disastrous.’ ” Check out the tweets at KTAR. http://bit.ly/31faf8H

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