The Dealmaker: 12/18/2019

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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

[OPINION] As a property owner, merchant within the SouthBridge 2 area I strongly support it. (Disclosure: Rose Law Group represents Spring Creek Development.) Local resident and businessman Steve Johnson explains why the time is now to “let the vision of the downtown Scottsdale adopted by the City Council, including those council members who voted against SouthBridge Two, finally take shape.” SI.

Year in review: Commercial real estate deals boom in Valley during 2019. Headline-grabbers in this PBJ month-by-month look-back include: The Southbridge 2.0 approval, Crown Realty’s Desert Ridge land buy, and Goodyear’s Nike score. (Subscriber Content).

Homebuilders: Rejuvenation set to continue into 2020. “Left for dead early in the year, homebuilders have sprung back to life this year — surging more than 50% — after falling into a ‘mini housing recession’ in 2018.” An in-depth analysis of homebuilders, from Hoya Capital via Seeking Alpha

Shea closes on 137 home sites at Desert Ridge. “Shea Homes has purchased approximately 42 acres of land located at 56th Street and Deer Valley.” For a look ahead at what “Talinn at Desert Ridge” will offer, head to AZRE

HOMES SPROUTING UP? -New apartments planned for Roosevelt Growhouse site. Hubbard Street Group is looking to plant a “285-foot-tall apartment” at the SE corner of 6th St. and Garfield, the site of “Roosevelt Growhouse, which has been leasing space from True North Studio.” NT.

Cavan Companies proposes “Bungalows” in Gilbert. To be located along Gilbert Rd just north of Houston Ave., “Bungalows on Ash” is “planned as a 170-unit gated multifamily development ‘intended to feel like single-family living.’ ” AZBEX.

Willow Creek Apartments open in Prescott. This overview in AZRE touts the “160-unit garden-style apartment community” as “the first new signature apartment community in the area to complete construction and provide much-needed luxury level multi-family living options to area residents.”

Trammell Crow begins construction of Axis Raintree. Hard-hat work is underway at Raintree and 87th St. on what TCC Phoenix VP Cullen Mahoney notes is “the first Class A office building developed in North Scottsdale since 2015.” AZRE. 

Phoenix looks at hiking development impact fees. City Council will look today at proposed increases. The fees are for new developments including apartments, single-family homes and commercial projects. Reporter Mike Sunnucks takes a look at the proposed numbers in RLGR

Paradise Valley adopts ordinance to ensure longterm public infrastructure cost recovery. With its previous approach “no longer in-tune with other Arizona municipalities,” the Town of PV has adopted a new ordinance that “defines the parameters to who is paying what and what properties will be impacted by public infrastructure improvements.” PVI. 

Phoenix to vote on farmland lease. City Council will vote today on a lease extension for the farmland. Mike Sunnucks files a quickie preview with all the pertinent info. 

Avondale selects new economic development director. Ken Chapa takes over in January, “replacing Dan Davis, who retired in October.” For a little background on new ED Director Chapa, along with a bit of info on some of the projects he’ll be working on, tap to PBJ

Arizona regulators set solar power standard contract at 18 years long — is a PURPA solar boom coming?PV Mag mines the Twitter page of Rose Law Group Co-Founder and Renewable Energy Director Court Rich for additional info and insight concerning the impact of ACC’s recent decision on PURPA.

Arizona officials and business leaders urge Congress to provide funding for I-11 project. The most recent “voicing” of support for the proposed highway came in a letter sent this week from members of the I-11 Coalition to “Sens. Martha McSally and Kyrsten Sinema and Reps. Greg Stanton and Paul Gosar.” Chamber Business News.

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

[EDITORIAL] How Arizona can move past crippling inaction on groundwater. ” Rural interests have long balked at regulation to stop draining Arizona’s aquifers. But there are other ways to move forward.” By: The Arizona Republic editorial board.

[OPINION] APS misled customers for years. What else will the AG’s fraud investigation reveal? An AZCentral PAYWALL piece from columnist Laurie Roberts who opines on the “bum advice” customers were getting from APS’ online rate-plan tool — and the “consumer fraud investigation” that has come as a result. 

Sen. Martha McSally unloads on House Democrats for overreaching in Trump impeachment. <- That according to “snippets of audio obtained by The Arizona Republic.” For those interested in listening to those snippets, you’ll need a subscription to get through yet another AZCentral PAYWALL.

Trump impeachment rally draws hundreds outside Phoenix office of McSally. Demonstrators chanted calls for Trump to leave office amid bass drum beats and a constant chorus of car horns blaring.” AZCentral has 24- pic SLIDESHOW plus a VIDEO clip of the “chaotic scene” in a report that is NOT paywalled!

11 Arizona first responders have taken their own lives this year. That, according to President and CEO of the 100 Club of Arizona Angela Harrolle, who spoke with KTAR News 92.3 FM about the alarming number of suicides and what can be done about it.

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December 2019