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
‘BREAKING’ NEWS! – Suns break ground on practice facility. (Disclosure: Rose Law Group represents the Phoenix Suns.) You’ve got a front-row seat as coach Monty Williams, GM James Jones, owner Robert Sarver, team president Jason Rowley, RED Development managing partner Mike Ebert and Councilman Sal DiCiccio shovel dirt to kick off work on the new facility. WATCH! http://bit.ly/2CGASIo
Former business partner sues Phoenix commercial developer, alleges lack of payments. <-That is the allegation from Dan Lowe leveled against Red Development managing partners Scott Rehorn and Michael Ebert.” Details on the legal action in PBJ. (Subscriber Content). http://bit.ly/2XlR5MM
Sky Harbor is the best big airport in the U.S., Wall Street Journal says. Phoenix Sky Harbor knocks Denver International from its perch as the No. 1 airport in the USA! For highlights from WSJ’s “newly released annual ranking of American airports” navigate to AZCentral. http://bit.ly/33JrrUq
Maricopa P&Z tables proposed apartment complex. Plans for Oasis at the Wells, proposed for a triangular parcel off Porter, hit a municipal bump in the road on Tuesday, as P&Z “grilled city staff and the developer of the first apartment complex planned for the community.” InMaricopa. http://bit.ly/2OaqwG0
Bidding war rate hit a 10-year low in October. Nationally, bidding wars were down 39 percent YoY in October. Tap to Redfin to find out what kind of bidding battles have been breaking out in Phoenix and other metros. http://bit.ly/2QkTmpQ
The collaborative design that will bring Japanese home building to America. Chōwa, “the brainchild of Sekisui House and its wholly-owned operating unit, Woodside Homes,” brings together “new approaches to design, building, and business modeling that aim to put… potential home buyers… at the very center of a new value chain.” Builder. http://bit.ly/35301t2
Pulte Mortgage goes digital. The agreement with Paymentus will allow PulteGroup home buyers to “pay mortgages through any size device.” Details in Builder. http://bit.ly/2KlDLTi
Best states for the middle class – 2019 edition. Home values and homeownership rates figure prominently in this new SmartAsset study, which finds Arizona flirting with a spot in the top 10. http://bit.ly/2XeI1Jg
Northrop Grumman opens massive 633K SF Chandler facility. And host Willmeng Construction put on quite a show to celebrate the occasion, “complete with skydivers, video highlights, Gov. Ducey and other civic and business leaders from Chandler and the Phoenix market.” AzBigMedia. http://bit.ly/33NkfXf
Officials use alternative methods to keep projects on budget.YourValley zeroes in on “the construction manager at risk,” the delivery method of choice for a future fire station in Surprise as well as for the ongoing streetcar system being built in Tempe. http://bit.ly/34ZnAmo
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Best and worst run states in America: A survey of all 50. Courtesy, 24/7 Wall St. No need to click through all 12 pages of states to find out where Arizona ranks — just head to page 8 when you get there. http://bit.ly/2XgHS89
Once booming Arizona cotton industry showing signs it’s struggling. “Cotton planting in Arizona peaked in 1953 at 695,000 acres… That number is now down to about 168,000. It’s also costing more to grow cotton than the profit it’s yielding.” KTAR. http://bit.ly/2NLfyb8
TIME FOR SINEMA! – Sen. Kyrsten Sinema earns spot on ‘Time 100’ rising stars. “The list ‘spotlights 100 rising stars who are shaping the future of business, entertainment, sports, politics, health and more.’ ” KTAR. http://bit.ly/2Xg1xVZ
Where they stand: How Arizona’s congressional delegation views impeachment. Check out “what the state’s nine House members and two senators have said so far,” in AZCentral. http://bit.ly/2KnWNbH
9th Circuit judges hear arguments for calling earlier election to fill McCain seat. “Hanging in the balance is how soon Arizona voters will get to decide if they want [Sen. Martha] McSally to serve through 2022, when [Sen. John] McCain’s six-year [term] ends.” Howard Fischer reports in Daily Star. http://bit.ly/32LdeoS
Arizona county recorders falling short on web security, expert says. “[E]lection officials in some of the state’s counties are not doing enough to secure their websites and prevent fraudsters from sowing disinformation or spreading confusion.” AZCentral (Subscribers Only). http://bit.ly/33TLn7m
