The Dealmaker: 12/12/2019

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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 Rising owners to build East Coast soccer stadium. (Disclosure: Rose Law Group represents the Phoenix Rising.) Fortuitous Partners — and its founder and Phoenix Rising Co-Chairman and owner Brett Johnson — “will develop a $400 million project in Pawtucket, Rhode Island” in a deal that “is said to be the largest economic development project in Pawtucket’s history.” For details, dribble to PBJ

[OPINION] Scottsdale will lose if SouthBridge 2 petition sees success. (Disclosure: Rose Law Group represents Spring Creek Development.) Community activist Sandy Schenkat is no fan of the “few naysayers” out to “halt” the recently approved SouthBridge 2 and all the “necessary” revitalization the Unger family’s project will bring to the city. SI.

ACC votes to support solar development in Arizona; Rose Law Group Co-Founder Court Rich represented solar developers that prevailed on this issue. Action taken yesterday by the Arizona Corporation Commission gives “renewable energy developers the financial certainty they need to develop new clean energy projects in the state.” More on solar’s big win in AZ Business Magazine.

Fairfield Inn & Suites opens in Tolleson. (Disclosure: Rose Law Group represents Virtua Partners.) The 116-room Marriott-branded Fairfield Inn & Suites is now open at 91st Ave. and McDowell. AZ Business Magazine has an overview of the Virtua Partners/Hotel Equities partnership project. ->

Phoenix to consider GPLET deal for DT hotel. NIXDT Development / Anish Hotel Group wants to bring a 6-story hotel to the Fuller Paint Warehouse property at Second and Jackson in downtown Phoenix. Reporter Mike Sunnucks has more about the project in RLGR

Bipartisan bill restores tax-exempt status for developers’ sewer, water contributions; Rose Law Group transactional attorney Dan Gauthier weighs in. NAHB “applauds” Sens. Shaheen (D), Murkowski (R) and Hassan (D) for a bill that would, as Dan Gauthier notes in RLGR, “again exempt from tax certain developer contributions in aid of construction, effectively reducing the cost of construction.” Details in NAHBNow.

Taylor Morrison again named a best place to work. TM employees “coast to coast” have again voted their company among the Best Places to Work for 2020. Chairman and CEO Sheryl Palmer comments on the Glassdoor Employees’ Choice Award in Builder

Indian Bend Wash Greenbelt awarded 2019 Resilience Prize. If the 2019 Resilience Prize is all “about designing, planning, and adapting,” then it’s little wonder that the greenbelt — an 11-mile, flood-control “oasis filled with beautiful parks, lakes, golf courses, and many other amenities” — would receive such an award. Congrats, Scottsdale!  SI.

Gov. Doug Ducey selling spectacular $8.75M PV mansion. “So why is he selling this exquisite mansion where his family has lived for more than a decade? Does it signal a change in political ambition?”®  has the answer as it delivers a 13-pic tour of the 2-acre estate.  

The hatch has officially closed on Tucson’s hottest real estate listing. SOLD! The “decommissioned Titan II missile silo near Oracle Junction that made headlines around the world last month when it hit the real estate market like a bomb.” The purchaser and his plans in Daily Star.

New life at Thunderbird Global Management School prospers. Dr. Sanjeev Khagram, Dean of Thunderbird School of Global Management, recently shared with Scottsdale Rotarians an update on the school, including details about its new downtown Phoenix HQ. SI. 

Academy of Math & Science will break ground in Avondale. Dirt begins moving this Saturday at 107th Ave. and Buckeye with a “groundbreaking ceremony celebration” for the 1075-student, advanced K-8 STEM school. AZRE.

Hospice group to embark on $25M Phoenix campus. “Hospice of the Valley is making plans to build a dementia care and education campus” at “the former site of the Scottsdale Unified School District office” on 44th St., south of Indian School. PBJ (Subscriber Content).

Minimum lot sizes reduced for 22 parcels in AJ. Twenty-two “medium density, single-family detached residential” lots bounded by Ironwood, Gold, Roundup and Greasewood have gone from 20,000-sq.-ft. to 10,000-sq.-ft. minimum lots. Find out why City Council made the change in AJI

Personal, political lives collide in Mayor Price’s hectic schedule.InMaricopa chats with Maricopa Mayor Christian Price and his wife Cindy about how they “work to find balance in their busy schedules.”

Alisha Solano named new water director for Buckeye. For Alisha Solano’s backstory along with a bit of info on her priorities as new head of the city’s Water Resources Department, tap to WVV

What will Arizona’s economy look like in 2020? “Arizona’s economy is still growing, but growth likely will be slower in 2020 than in the previous two years, an annual economic forecast from Arizona State University predicted Wednesday.” AZCentral.

***Dealmaker BONUS!*** Phoenix Theatre production ‘Americano!’ defines the American immigration experience Tony Valdovinos, the Dreamer whose story inspired Americano! along with members of the musical’s production team, talk to YourValley about the “immigration-centered story,” which kicks off its run at the Phoenix Theatre Company on January 29.

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

This Is what racism sounds like in the banking industry. “A JPMorgan employee and a customer secretly recorded their conversations with bank employees.” NY Times.

Solicitor general opposes Arizona effort to sue California for unconstitutional taxes. In a “long-awaited brief” filed with SCOTUS  Tuesday, the “Solicitor General’s position was not friendly to Arizona.” Read it in AZ Law

Town, Florence Copper can’t come to terms. “In a Dec. 4 news release, the town said Florence Copper refused its olive branch, which included paying the company $1.7 million in legal fees awarded by a Maricopa County Superior Court judge.” Flo Reminder.

APS will give $25 to customers who were on wrong rate plan, plus reimbursements. “Members of the Arizona Corporation Commission had harsh words for the utility before the new CEO apologized to customers and other executives explained the problems.”

Phoenix lays out options to save recycling programs at first community meeting. The city is outlining five potential options for trash and recycling rates at the meetings. Reporter Mike Sunnucks knows what those options are, in RLGR

Supervisors delay decision on Petersen suspension after testy hearing. Wednesday’s hearing ended prematurely after Paul Petersen’s “lawyer said an adversarial attitude by an attorney for the county made it pointless to continue.” AZ Mirror picks it up the story from there.

Phototorial: What’s Gilbert worth? “Gilbert slipping on a banana peel? Is this East Valley town worth $120,000?”

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December 2019