The Dealmaker: 9/16/2019

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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

Phoenix housing looks a lot like 2004; Belfiore highlights key difference. How does the current market compare to the “pre-boom year” of 2004? Does it presage another bust, à la 2009 to 2011? AZCentral examines, while real estate consultant Jim Belfiore provides RLGR with his take on major differences between then and now.

Avondale approves The BLVD. The Avondale City Center plan has been rebranded, revised and approved as The BLVD, a project covering 356 acres and comprising six districts for shopping, dining, entertainment and living, with pedestrian-friendly street and outdoor activities.

True North founder buying  homes in Phoenix’s Garfield District. While Jonathon Vento “loves to talk” about his Roosevelt Row projects, the True North founder “has said less about his recent acquisition of single-family homes in the residential Garfield neighborhood,” New Times looks into Vento’s buying activity and reports that, this time, it’s “personal.”

3-pronged temple-area project rolls along. “A huge portion of the downtown Mesa’s eastern end is undergoing a major change with the renovation of the Mesa Arizona Temple and construction of the new Visitors Center and the new Residences at Mesa and Main complex.” EVT.

HOUSES OF WORSHIP -Historic Phoenix church plans to raze trees, buildings for gated development. Looks like last rites for a “parking lot, several buildings” and “dozens of giant pine trees,” as Shepherd of the Valley Lutheran Church makes way for “34 single-family homes.” But some folks residing around the 15th Ave and Maryland church are mad as hell about it, reports New Times. 

Surprise to vote on 55-plus apartments. City Council is scheduled to vote tomorrow on Mera at City Center Apartments, an age-restricted complex from Carefree Investments Partners. Reporter Mike Sunnucks previews in RLGR

Fountain Hills P&Z recommends council deny Daybreak. Hilltop Vista Properties was looking for P&Z’s recommendation but instead received a rejection for its planned development. Opposition from the “largest crowd in recent memory to address a town issue” was a big reason why. FHT.

Star Valley MP closes out to new developer. Calling it “an excellent opportunity for a fresh start to Star Valley,” Michael Geddes and Rick Andreen of Geddes Advisors have acquired over one-third of the 1,437-acre MPC. RED News.

Breathtaking views and impeccable architecture in Phoenix’s premiere enclave, Paradise Valley. A profile of Paradise Valley, courtesy Mansion Global Mag and featuring a handful of local real estate insiders with insight on what makes it “one of the most desirable ZIP codes in Arizona.”

Study examines grocery store impact on housing market. How does “living near a Trader Joe’s, a Whole Foods or an ALDI… affect a home’s value”? Find out in ATTOM Data Solutions’ “2019 Grocery Store Battle” analysis.

Scottsdale Galleria to get new glass and steel entry structure. There are two reasons Stockdale Capital Partners wants to build this new 18-foot-high entry structure, and Mike Sunnucks knows what they are. RLGR.

Pollack: Saudi oil fields. “In a slowing economy already facing challenges,” the oilfield attacks “can only be a negative” for the U.S. economy. The Monday Morning Quarterback examines the potential fallout, then slides into data snapshots that include: U.S. • GDP • Unfilled Jobs • Credit (a deep dive!) • Consumer Sentiment & Prices • Retail Sales.

Canadians travel to Arizona. “Canada is the number one international employer in Arizona” and has also sent a record number of tourists to our state. Chamber Business News checks in with Canada Arizona Business Council CEO Glenn Williamson on the factors that make Arizona such an appealing destination to our friends from the north. 

Proposed skyscraper would be the tallest building in Utah. “Towering at a total of 448 feet with 39 floors of luxury apartments, the proposed Kensington Tower at the corner of State Street and 200 South will bring Salt Lake City and Utah to new building heights.” Deseret News.

Final Details and Event Line-Up Announced for World’s Greatest Polo Party –

RLG HIRING: Rose Law Group is seeking a receptionist for our fun, fast-paced firm that offers opportunities for advancement.

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

Businesses welcome, environmentalists dread end of Obama-era water rule. Wealth generating industries such as real estate, manufacturing and farming have given a big thumbs up to the end of “Waters of the United States” rule. Meanwhile, environmental groups are, of course, freaking out. CN.

Arizona Supreme Court to rule on discrimination case. Brush & Nib Studio owners “do not want to prepare custom wedding invitations and other products for same-sex nuptials.” A Phoenix ordinance forces them to do so. The owners are challenging that ordinance. A Cap Media Services/Howard Fischer report in AZ Cap Times

Stiffest opposition to Prop. 105 came from areas with light rail lines or plans. “With the exception of South Phoenix, proximity to existing rail lines or planned extensions translated into overwhelming opposition to Prop. 105.” An AZ Mirror analysis.

Arizona transportation officials defend Interstate 10 against ‘most dangerous’ label. “Arizona highway officials say the ranking is incomplete and overlooks a variety of efforts made to make the highway that links the two most populous metro areas in the state as safe as possible.” Daily Star.

Fun cities in Arizona. For a good time, move to… Tucson? Old Pueblo impresses in this WalletHub study which evaluated more than 180 cities, ranking them according to “Entertainment & Recreation,” “Nightlife & Parties” and the “Costs” of having fun.

Roll Tide, uh, Hide: Leaving an Alabama football game early will get you followed. “The University of Alabama is sparking concerns about data privacy after creating an app that tracks students’ locations to keep them from leaving football games early.” The Hill.

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September 2019