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
Rose Law Group becomes 1st to establish stand-alone hemp practice. RLG has named Attorney and Partner Adam Trenk Director of both its Cannabis and Hemp Departments. This comes as the firm of record for some of the largest hemp growing operations in Arizona is the first in the state to establish a stand-alone Hemp Department. AZ Business Magazine. http://bit.ly/2nfXRWj
House panel will devise ways to loosen water rules in Pinal County to help developers. Dealmaker dropped news of this last Thursday via PinalCentral. Now, AZ Mirror reports on this Ad Hoc Committee that Rep. David Cook says will “ensure Pinal County has the same economic development opportunities that exist elsewhere in the state.” http://bit.ly/2lwxkUh
Phoenix makes huge leap in key national report on top homebuilding markets; trend likely to continue, says real estate consultant Jim Belfiore. When it comes to “homebuilding prospects,” Phoenix is a No. 7 metro, up 10 notches from its previous year’s ranking in ULI’s “Emerging Trends” report, which also notes the Valley is “not done yet.” In this PBJ report, Jim Belfiore explains why we will continue to be the “land of opportunity” for builders. (Subscriber Content). http://bit.ly/2lICrAJ
More AZ O-Zones? Dan Gauthier, Rose Law Group transactional attorney handling many Opportunity Zone investments, weighs in. Bloomberg reports on how the 2020 Census could expand O-Zones across the country. Commenting, Dan Gauthier tells RLGR: “Arizona is among the states that says it would consider census tract revisions if the Treasury Department guidance allowed it.” http://bit.ly/2ngk9as
Phoenix office market adjusts to influx of technology companies. “So who are these new companies moving into the Valley and what unique demands do they bring with them?” AzBigMedia explores, with insight from local industry insiders. http://bit.ly/2l7dv5A
How Downtown Phoenix created an ‘innovation core.’ “For decades, companies looking to open or relocate passed over downtown for places like Chandler, Scottsdale or Tempe.” DTPHX takes a look at what it took to turn things around in Phoenix’s urban core. http://bit.ly/2laCTYg
Phoenix considers $800,000 infrastructure help for sports arena, new hotel development. Legacy Sports Arena LLC wants to build 171,000 square-foot sports arena and an 88-room new hotel on 20-acres at Bronco Butte Trail and the North Valley Parkway. Reporter Mike Sunnucks has more on the projects in RLGR. http://bit.ly/2lIHJw5
1.527-acre site in Roosevelt Row sells for $6.45M. An arm of Alliance Residential purchased the 3rd St and Portland property with plans for a 161-unit project called Broadstone Portland. Details in AZRE. http://bit.ly/2lIi7PV
‘Hipsturbia’: A 2020 trend. Tempe gets a shoutout in this Forbes’ report on “hipsturbia,” a term coined to describe the emerging trend of millennials moving out of city centers to more affordable suburbs that have “urban staples like dining, shopping, entertainment and jobs, all within a walkable distance.” http://bit.ly/2nhDDM1
Mesa wants to take land through eminent domain. Owner says he’s being shorted. The property, located near Power and Brown, has been appraised “at just more than $2 million.” But according to the property owner, that “miserly amount of money” misses the mark by as much as $18 million. AZCentral. http://bit.ly/2lJklP2
Mesa looks to brand its ‘Asian District.’ The city is launching a new effort to brand the western part of the city where there is a cluster of Asian businesses anchored by 100,000 square foot Mekong Plaza at Main and Dobson. Details in this RLGR report by Mike Sunnucks. http://bit.ly/2mFeY3w
New concepts slated for Gilbert Heritage District restaurant spots. An arcade bar concept and tattoo parlor are landing in locations previously occupied by restaurants Grubskak and Even Stevens. Sunnucks has the report in RLGR. http://bit.ly/2lICYT6
Glendale considers asking voters for more bond authority for capital projects. With high-priority CIP projects seeing bond shortfalls, Glendale has “created a committee to review whether the city needs to ask voters for authority to sell more bonds to fund” the completion of those projects. YourValley. http://bit.ly/2ngjpSH
Artist picked to paint big mural at new Block 23, Fry’s Food development in downtown Phoenix. The city of Phoenix and Fry’s Food Stores have picked Arizona artist Margaret Dewar to create a large mural at the new Fry’s store opening in downtown Phoenix at the Block 23 development.” Check it out! http://bit.ly/2lN0Cht
Music and Matches at The Scottsdale Polo Party November 2nd –http://bit.ly/2nhgYiN
RLG HIRING: Rose Law Group is seeking a receptionist for our fun, fast-paced firm that offers opportunities for advancement.http://bit.ly/2UgnCCk
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Governor not in favor of banning flavored vaping liquids. Gov. Doug Ducey checks in with Cap Media Services about the possibility of a vaping ban here in Arizona. A Howard Fischer report in AZ Cap Times. http://bit.ly/2mH0tw2
Diamondbacks break records for longest game at Chase Field in 19-inning win over Cardinals. The D-Backs ran onto the field for the first pitch on Tuesday and walked off with a win early Wednesday. AZCentral has a postgame wrap-up of the nearly seven-hour historic yet “meaningless” affair. http://bit.ly/2lJvUWs
Lawmakers to look at shifting Santa Cruz, Cochise county lines. “Rep. Gail Griffin, R-Hereford, has convinced legislative leaders to form a special committee to study what would happen if the line between the two counties was moved.” Another CMS/Howard Fischer report in AZ Cap Times. http://bit.ly/2mLoulu
Where Sens. Kyrsten Sinema and Martha McSally stand on Trump impeachment inquiry. Sen. Sinema “did not explicitly say whether she supports or opposes the inquiry,” while Sen. McSally “discussed the political repercussions of impeachment.” AZCentral. http://bit.ly/2lMQTHZ
Arizona delegation members not swayed by impeachment inquiry. In other words, not much has changed as a result of Speaker Pelosi’s announcement, as all four House Repubs continue to oppose the inquiry, while “four of the state’s five” House Dems remain totally on board. CN. http://bit.ly/2mLoQZm
