The Dealmaker: 11/1/2019

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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? Darrell Wilson, Managing Principal, HILGARTWILSON, LLC. A canine alarm clock kick-starts Darrell Wilson’s busy day — nearly 18 hours highlighted by tons of calls, texts, project follow-ups, a trip to Pinal County, tire issues, a forgotten blanket and game seven of the World Series. RLGR.

Treasury, IRS propose form to collect data about investments in opportunity zones; Dan Gauthier, Rose Law Group transactional attorney handling many Opportunity Zone investments, stresses investor vigilance. Yesterday the IRS released a draft form requiring qualified opportunity funds to disclose more specific information about where, when and how capital is deployed. • Commenting on The Hill report, Dan Gauthier tells RLGR that “fund principals and investors should monitor the status of additional reporting requirements that may materialize.”

Toll Brothers buys 200 acres in southeast Valley for ‘entry-level’ luxury homes. Located at the NEC of Spring Valley Pkwy and Hunt Hwy, The Preserve at Queen Creek will have 618 entry-level homes. In PBJ, Horsham Arizona Division President Bob Flaherty discusses development details for this “introduction to luxury” community. (Subscriber Content).

Lower mortgage rates spur decline in for-sale inventory. According to®, there were “98,000 fewer listings nationwide this October compared to the same month last year,” with Phoenix-Mesa-Scottsdale among the metros seeing the biggest inventory dives. (via Builder).

Mesa thrives in the center of the commercial real estate boom. Mayor John Giles, Economic Development Director Bill Jabjiniak and SVN Advisors exec Rommie Mojahed talk about projects and developments that have helped make Mesa a major hub of CRE activity. AZRE.

THE GATES’ WAY TO TONOPAH? –Five smart cities that are being proposed in North America. One of those cities reportedly involves Bill Gates and is right here in Arizona. Dazeen looks at plans for Belmont, a smart-city to be located on 25,000 acres west of Phoenix near Tonopah.

Catholic nonprofit to develop 2 affordable Phoenix housing projects for seniors. “Foundation for Senior Living is planning two more senior housing projects in Phoenix, but experts say it’s still not enough to keep up with the growing demand for affordable senior housing.” PBJ (Subscriber Content).

NOVO Development completes student housing for Ottawa University. It’s a wrap for the new four-story residence hall and 26,000-sq.-ft. student union facility at Ottawa University’s OUAZ campus in Surprise. AZRE.

Room at the Inn: Phoenix sees boom in hotel building as demand soars. “The Valley is in the midst of hotel boom pushed by tourism demand. But as more properties open, will there be enough workers to go around?” PBJ.

Phoenix eyes $100,000 incentive for defense firm’s expansion. Mercury Systems already has 290 employees at 36th St and University. So what exactly is the electronics firm looking to do with the 100 grand? Mike Sunnucks knows, in RLGR

Phoenix may apply for EPA grant to move McCain’s Rio Salado vision forward. The grant helps communities assess, clean up and bring sustainable redevelopments to areas like Rio Salado. More on the grant and Rio Reimagined in Mike Sunnucks’ RLGR report.  

City works to revitalize West Phoenix corridor. Phoenix wants to clean up blighted properties and improve streetscaping and infrastructure to attract new economic development to the area along 27th Ave between McDowell and Dunlap. A Sunnucks’ report in RLGR

7.8 acres at Ellsworth Loop, Ocotillo to be sold by QC to developer. “Developers are being sought to purchase six properties totaling 7.8 acres near Ellsworth Loop and Ocotillo roads that are owned by the Town of Queen Creek.” Details in QCI

Here are the winners of the JLL Spaces Showcase. Tap to AZRE and check out Phoenix’s “most unique and innovative workplace designs,’ per JLL in its first annual Spaces Showcase awards.

New AZ law allows shoppers to sip & stroll with cocktails. What started out as an idea at Vestar, the owners of Desert Ridge Marketplace, Tempe Marketplace and numerous other lifestyle centers throughout Arizona and the West, turned into state legislation and is now a reality. RLGR.

Cannabis open houses. “Real-estate agents and developers have discovered that cannabis can be a powerful marketing gimmick to sell luxury homes in communities.” WSJ (Subscriber Content).

Just one more day. Until the “World’s Greatest Polo Party” and the most attended polo event in America –

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!

Court Rich, Rose Law Group co-founder and renewable energy director talks solar, battery rules and regulations with KJZZ. “The Show” interviewed Court Rich yesterday. Listen via the link in RLGR.

Legislative panel considers restoring local right to regulate short-term rentals. But as CMS/Howard Fischer reports in Daily Star: “The idea already is getting a chilly reception from the governor.”

Poll: Arizona voters support current process, but not impeachment. “The New York Times Upshot/Siena College (SCRI) poll surveyed voters in six battleground states: Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin.” (via AZ Mirror).

Young stars dominate ranking of highest-paid Phoenix professional athletes. Head to PBJ to find out which players and teams — Suns, D-Backs, Cardinals or Coyotes — dominate the list.

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November 2019