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
Why Colorado’s largest bank partnered with the NBA to grow in Arizona. FirstBank President Ron Tilton talks with Business Journal about teaming up with the Phoenix Suns and Mercury in a multiyear deal that includes becoming the NBA team’s “official banking partner.” (Subscriber Content). http://bit.ly/2XTBh3O
2020 VISIONS – Redfin’s 2020 housing market predictions. Bidding wars will once again heat up in metros across the country. Redfin goes into detail on that forecast, plus five other 2020 bets. http://bit.ly/2QX3WE0
Blackstone bows out of single-family rental business. “The investment firm has sold its last stake in Invitation Homes Inc., the company it created during the housing crisis to snatch up tens of thousands of foreclosed properties and turn them into rentals.” REALTORMag. http://bit.ly/2XTIuRF
Property investors follow millennials to the hot mountain states. WSJ pegs Arizona as one of the “hot” states in a region where a “surge in economic growth and rents is attracting institutional investors.” http://bit.ly/2OPBaCp
Martha Stewart brand to expand into real estate developments. Future projects from Marquee Brands could include “everything from townhomes to condos, assisted living facilities and single-family houses.” The “first step… is to identify cities and developers that make a good fit.” Forbes. http://bit.ly/35CzXFl
[COLUMN] Ilhan Omar’s $1 trillion housing proposal is an expensive joke. “The Homes for All Act misdiagnoses the roots of the country’s housing problems, then adds a boundless faith in the feds’ ability to solve them.” It “is literally the worst way” to fix the problem, says one policy expert. Reason. http://bit.ly/2OpyTia
Tempe wants feedback on Development Bonus Program. As part of the city’s Urban Core Master Plan, the “development bonus would provide the opportunity to add housing units or commercial office space in exchange for providing community benefits.” Such as? Find out in AZBEX. http://bit.ly/2OP4xVt
New townhome complex proposed for Surprise. P&Z recently reviewed a site plan for Hayden Farms Townhomes, a new ‘two-styled’ development proposed near Cactus and Cotton Lane, AZBEX reports. http://bit.ly/2L0w2u1
SkySong emerges as conference destination for Scottsdale. “And with the opening of the new Element Hotel at SkySong, the draw of SkySong as a meeting, conference and event location is growing even stronger.” AZ Business Magazine. http://bit.ly/2rzPxCI
Scottsdale approves Impact Church’s office, restaurant development plans. Not to mention some retail space also thrown into the 7.58-acre mix off Hayden near FLW. Sunnucks has a bit more info on the development in RLGR. http://bit.ly/33nhgnG
I should never have gotten involved with the MOB. “Owning a medical office building proved too much to handle for this simple residential landlord.” That “simple residential landlord” also happens to be a WSJ contributing columnist, as well as Jordan Rose and Court Rich’s “AMAZING!” uncle, Bert Stratton. http://bit.ly/35Lagmd
10 road construction projects to start in 2020 in QC. Freeway extension. Bridge replacement. Road widening. Those are among the 13 projects “planned in the Town of Queen Creek in 2020, with three starting before the end of 2019.” Details on all in QCI. http://bit.ly/33qbm59
PV Town Council reflects on 2019, looks ahead to 2020. • What one issue is top of mind that Town Council covered? • What will 2020 entail for the community? • Are there any specific issues? • Five PV Town Council respond to these and other queries in PVI. http://bit.ly/2OpAC78
Council discusses potential Peoria ‘signature event.’ The “council is excited for the prospect of a tremendous event” the city “can call its own,” reports Peoria Times. And it looks like the north cove of Lake Pleasant has been selected as the spot for this “signature event.” http://bit.ly/2sfWQ2S
Tempe’s vice mayor endorses Mayor Mark Mitchell’s challenger. In a Facebook endorsement that later went out as an “email blast,” Vice Mayor Lauren Kuby “has thrown her support behind former City Councilman Corey Woods, who is challenging Mayor Mark Mitchell in the March 10 general election.” AZCentral. http://bit.ly/2rtr2Y2
Yavapai County supervisors unanimously approve zone change for Hilton Garden on SR 179. But the approval doesn’t necessarily mean the track has been totally cleared for the proposed 154-room Hilton Garden Inn, as there are some issues that could still derail the project. RRN. http://bit.ly/2L1ayNP
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Thanks but no thanks: When things go wrong Thanksgiving Day. Or: When Turkey Day turns into a turkey of a day. By: RLGR Senior Reporter/Writer Phil Riske. Dig in! http://bit.ly/2OQzBnJ
Dreamer-inspired musical AMERICANO! places billboards in Times Square. “Americano! — a groundbreaking, true-story musical on the life of a Dreamer debuting in Phoenix in January — has launched new billboards in New York’s Times Square.” And Broadway World has the news — and pics! http://bit.ly/34maTSN
Arizona Supreme Court told recall of Payson Mayor Tom Morrissey should be back on the ballot. To support the argument that the recall should return to the ballot, “Unite Payson,” the group seeking to oust Mayor Morrissey, “reached back to Arizona’s 1910 Constitutional Convention.” AZ Law. http://bit.ly/2sg02LU
Progressive groups challenge law on deadline for ballots. Two groups want “a federal judge to void an Arizona law that says ballots have to be received by county officials by 7 p.m. on Election Day to be counted.” What would the groups like to see instead? CMS/Howard Fischer reports in ACT.http://bit.ly/2DlzT0v
Paul Petersen faces new legal hurdle in adoption scandal: Paying his lawyers. “How can he defend himself?” That from Petersen’s attorney, as AG Brnovich “gets a court order to seize” assets “owned by both Petersen and his wife with a total of $1.5 million in value.”12 News (For what is essentially the exact same news via AZCentral, our Dealmaker Dept. of Redundancy Dept. suggests “clicking and tapping through” to “additionally also” get: “Paul Petersen’s property, bank accounts frozen in $1.5 million seizure warrant.”). http://bit.ly/35xp4Vk
GOP lawmaker proposes slew of regulations on medical marijuana. In this report by Cap Media Services Howard Fischer, Majority Whip Sonny Borrelli clamors for “an outright ban on the use of certain chemicals on the marijuana that Arizonans smoke, eat or drink.” ACT. http://bit.ly/2DyJnWB
Republican lawmaker doesn’t want environmental justice taught in schools. “John Fillmore, R-Apache Junction, introduced legislation this month that would strike ‘a discussion of economic and social implications’ from the state’s current requirements for environmental instruction curricula.” AZ Mirror. http://bit.ly/2Oo7Unl
Phoenix, Tucson mayors push to stay in Paris Climate Agreement. Head to AZPM to read what Tucson Mayor-elect Regina Romero and Phoenix Mayor Kate Gallego wrote in a letter to the state’s congressional delegation on Tuesday. http://bit.ly/2KXrm8e
