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
Proposed aluminum plant a ‘positive’ for La Paz County, says Rose Law group land use and regulatory attorney, Tom Galvin. (Disclosure: Rose Law Group represents Alliance Metals.) Tom Galvin talks to AZCentral about Alliance Metals’ proposed aluminum smelting facility and how it will be “a positive development for Wenden and La Paz County.” http://bit.ly/31H16VI
New joint venture plans downtown Phoenix Opportunity Zone apartment developments. (Disclosure: Rose Law Group represents Defer Gain.) An infusion of affordable housing as Defer Gain and Pacific Oak Capital Advisors launch a venture to develop, finance and operate three new O-Zone multifamily projects. Details in this RLGR report from Mike Sunnucks. http://bit.ly/2P51mMT
Belfiore: Why the stock market’s wild ride, Wall Street’s mood swings aren’t spooking home buyers. Mike Sunnucks checks in with real estate consultant Jim Belfiore regarding the rockin’ and rollin’ stock market and the impact (or lack thereof) on home buyers’ decisions. RLGR. http://bit.ly/2TOoa1V
Habitat for Humanity opens 18 homes in Tempe, more planned. Tempe Parkview Townhomes, near McClintock and Don Carlos, is one of five affordable housing projects Habitat plans to build in Tempe, “as rising home and rental prices squeeze people out of the landlocked city.” AZCentral. http://bit.ly/2Zdw3PF
Commission forwards rezone for condos to Flag Council. Affordable housing was a big topic for P&Z last week, as it green-lit a proposed development from Miramonte Homes. The project near Ponderosa Pkwy and Route 66 “would consist of 13 three-story buildings containing a total of 169 units.” Daily Sun. http://bit.ly/2NibJu2
Developers want to erect hotel at River/Campbell base of Catalina Foothills. Developers are seeking to annex and rezone land north of East River Rd. and North Campbell Ave. to build a four-story boutique hotel, a detached sit-down restaurant, and up to 10 town houses, reports Daily Star. http://bit.ly/2KXnMdH
KB Home CEO says confidence matters more than mortgage rates, and confidence just took a hit. When “interest rates were 8, 9,10%,” KB Home had “some great years… because people find a way when they feel confident,” says CEO Jeff Mezger. How will falling confidence and market volatility impact housing? Chief number crunchers give their views in CNBC. http://bit.ly/2KShewI
Nike pays nearly $70 million to buy Goodyear industrial facility.BREW is reporting that an “affiliate of Nike” has purchased the “901,700-square-foot industrial facility, located just south of Van Buren Street at 575 S. 143rd Avenue.” http://bit.ly/2KSY8Xf
California logistics company to relocate to West Valley, build huge facility. Quetico has snapped up a “39-acre parcel” at 143rd Avenue and Yuma Rd. in Goodyear “on which it intends to open a large industrial facility, including warehousing and office space.” PBJ. http://bit.ly/2TUBEtj
Plans filed for assisted living redevelopment of Le Cordon Bleu property in Scottsdale. Find out exactly what Spectrum Retirement Communities has cookin’ for the vacant building at Camelback and Hayden via this report from Mike Sunnucks in RLGR. http://bit.ly/2Z0vsFS
Dutch Bros Coffee growing Arizona footprint. Where is the Oregon-based chain’s newest location and how many more does it have planned? Mike Sunnucks has the buzz in RLGR. http://bit.ly/2KSIon5
[GUEST COLUMN] Scottsdale bonds key for our arts community. Scottsdale Arts President and CEO — and For The Best Scottsdale steering committee member — Dr. Gerd Wuestemann explains why he’s “a strong supporter of all three bond questions before voters.” RLGR. http://bit.ly/2ZcllJ6
Rio Nuevo approves $65M TCC reno plan. The Rio Nuevo Board of Directors has approved an “improvement plan for the Tucson Convention Center and surrounding campus, including the Tucson Music Hall, Leo Rich Theater and the Eckbo Plaza and Fountain.” Check out an itemized price list for the planned improvements in AZBEX. http://bit.ly/2MtpS7Z
Fountain Hills economic development director talks long-term stability.“James Smith has been on the job as economic development director for the Town of Fountain Hills for a few months now and he is focusing on a couple of items that will present opportunities to expand economic development in the community.” FHT. http://bit.ly/2TRqZQ0
Flagstaff, county and local groups set out to create downtown action plan. “The City of Flagstaff, Coconino County, Downtown Business Alliance and Mountain Line are beginning work on a new plan focused on the next seven years of development downtown.” Daily Sun. http://bit.ly/2MrFkl2
Please, let’s not use the D-word. “The word [developer] has become associated with neighborhood discord, fears of rising rents and hipster homogeny. Enter what has come to be known as the ‘impact’ developer, a socially conscious builder navigating a difficult moment when both liberal and conservative groups can quash real estate plans.” NYT. http://bit.ly/2NdTIgx
[COMMENTARY]Endangered Species Act reforms improve Incentives for landowners to recover species. Under the new rules, landowners are rewarded if a “species’ status improves,” but punished with “more burdensome regulations” if it doesn’t. That sort of carrot-and-stick approach is “precisely what is needed to promote recovery efforts,” claims Pacific Legal Foundation senior attorney Jonathan Wood. SLT. http://bit.ly/2z6ec2B
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Arizonans might have special protections from facial recognition software. “A new federal court ruling coupled with a provision in the state constitution could give Arizonans new legal protections against the use of software by private firms that captures and stores facial images.” A Cap Media Services/Howard Fischer report in PinalCentral. http://bit.ly/2zaJtBw
Court gives baseball players’ right to sue Arizona wages bill. “A federal appeals court has given a key victory to players on minor league teams the right to sue to be paid the minimum wage while they’re in spring training in Arizona.” Howard Fischer reports on the ruling in PinalCentral. http://bit.ly/2Mp01y7
New law would make Arizona cities pay for raising the minimum wage. “If the state has to pay more for services in those communities because of a higher minimum wage, legislators could force local governments to cover the additional costs.” AZCentral. http://bit.ly/30lsVmi
Autonomous semi-trucks have been driving along I-10 for months and no one noticed. “TuSimple and UPS are testing what is called ‘Level 4’ autonomous technology, meaning that the truck’s on-board computer is in control during the entire drive.” Pretty cool. WATCH via AZ Mirror. http://bit.ly/2KXwY1q
Survey shows slim support for education tax. “A new statewide survey shows that a majority of voters are willing to hike sales taxes for education — but not by as much as some are seeking.” And, as Howard Fischer also reports in AFN, “adding property taxes to the mix could prove fatal.” http://bit.ly/2NhL6Wj
