The Dealmaker: 12/2/2019

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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

Dan Gauthier, Rose Law Group transactional attorney handling many Opportunity Zone investments, talks tax benefits and O-Zone investments on ‘Doctor Money Matters’ podcast. As Dr. Money Matters notes: Dan Gauthier “has written about these previously in national media and I thought he would be a great resource to learn more about them.” LISTEN here:

Big project eyed for Scottsdale entertainment area. “The Yari brothers — who own the W Hotel, Galleria Corporate Centre and about 26 acres in the entertainment district — have unveiled an art-centric vision for the area including office, residential and retail.” SP. 

Gentry on the Green pursues mixed-use mecca in heart of Scottsdale.SI takes a look at Gentry on the Green, “a proposed mixed-use… seeking to build upon 41.5 acres” at the SWC at Hayden and Camelback.

Major changes proposed for Surprise’s first neighborhood. “A new apartment complex is near completion there, and the city envisions a new library and community center, new residences, offices or retail shops in the place of vacant land and an old trailer park.” AZCentral (Subscriber Content).

Daybreak update approved in FH. Fountain Hills Town Council recently approved a development agreement for the proposed Daybreak apartment complex off Palisades Blvd, north of Shea. The vote was 5-2. Here’s why.

Divide continues over Daybreak. “Emotions have run high regarding the proposed Daybreak apartment community… but it was revealed at the Nov. 19 council meeting that there was what public safety officials considered a notable threat to the council… when the project was first considered.” FHT.

Tucson rezones state land for Escalera PAD. The zoning change from  RX-1 to PAD for 344.3 acres at the SEC of Valencia and Houghton was “led by Pulte Homes…” Get development details in RED News

Developer proposes 120 new Payson homes, plus retail. Ironline-Brookfield Community has built “in Pine, Williams, Flagstaff and Sedona.” Now the developer is looking to add Payson to the list, with homes on a “50-acre parcel fronting Highway 87 near Tyler Parkway.” Roundup.

The most expensive ZIPs in Arizona. “Following PropertyShark‘s annual ranking of the 100 most expensive zip codes in the U.S., its researchers decided to zoom in on the desert states to see what the top 50 priciest zip codes in Nevada and Arizona were in 2019.” AZ Business Magazine.

Two couples loved visiting each other. So they decided to move In together. “Two sisters and their families now share a $10 million home that overlooks Camelback Mountain.” WSJ has the story and 20-pic slideshow (Subscriber Content).

This project is the way to house everyone tomorrow. “The Ecological Living Module is built for a family of four as an affordable solution for the more than one billion people around the world without access to secure, comfortable, affordable housing.” Hive.

Judge rules against Arizona attorney general on ASU-Omni hotel deal. AG Mark Brnovich “argued that a deal by ASU to bring an Omni Hotel onto land owned by the Arizona Board of Regents was unlawful.” An Arizona Tax Court judge ruled Wednesday that Brnovich’s suit came too late. AZCentral.  

Here’s how the $602M Desert Ridge deal got closed. While the deal for the JW Marriott Desert Ridge Resort & Spa was the “biggest resort sale in Arizona history,” it wasn’t “one that shocked the market experts that saw how strong the Phoenix hospitality sector really was.” AzBigMedia.

Avondale’s new ‘Field of Dreams.’ Mayor Kenn Weise talks to WVV about his top five Avondale stories of 2019, the city’s relationship with Goodyear, and some of the headline-grabbing projects to come in 2020.

Scottsdale names new economic development director. Rob Millar has been named as the city’s “economic development director after he had been serving as the interim director for more than a year.” PBJ.

Nationwide Realty submits plans for 2 new Scottsdale office buildings. More plans for its Cavasson development at Hayden and Loop 101. Reporter Mike Sunnucks has details in RLGR 

QuikTrip plan still fuels residents’ anxiety. “More than seven months after it generated the Ahwatukee Foothills Village Planning Committee’s most fractious public hearing of 2019, QuikTrip’s plan for a service station on 40th Street continues to generate anxiety for a 185-home community.” AFN. 

Florence aims to be model of Southwest water policy. “Florence has worked creatively in recent years to amass an abundant assured supply.” Town Manager Brent Billingsley discussed the matter recently with P&Z. Flo Reminder has a recap.

Super Bowl Host Committee has eyes for Paradise Valley. “The Arizona Super Bowl Host Committee is seeking to court the Town of Paradise Valley, as it lays the groundwork for the National Football League’s ultimate game in 2023.” PVI.

CBRE: Keeping up with restaurant trends key for shopping centers, malls. The new report identifies emerging and solidifying trends among restaurants and how they are important for and impact retail real estate. In RLGR, Mike Sunnucks has the CBRE research highlights along with access to the full report.

Scottsdale looks at allowing more, larger signs at developments. The larger and taller freestanding signs would be along Loop 101. A bit more info in this RLGR report from Mike Sunnucks.

[EDITORIAL] Should L.A. give Garcetti control of homeless housing? “Mayor Eric Garcetti and whoever follows him into office” would have carte blanche locating “homeless housing and shelter on city-owned land,” as well as changing “the land-use rules on any parcel — city-owned or privately held.” The LA Times calls it an “intriguing plan.”

Dealmaker BONUS:The 30 best holiday light displays in Phoenix in 2019. (Disclosure: Rose Law Group represented Lee Sepanek in “saving Christmas.”) Across the Valley, “holiday die-hards” have “spent a pretty penny” and/or “countless man-hours building impressive-looking efforts that rival pro-level attractions.” Check out pics of the displays in New Times.

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

Maricopa City Council race already gaining lots of steam. “Several candidates for the 2020 Maricopa City Council and Mayor elections have already submitted their preliminary paperwork, including Mayor Christian Price.” MM.

Groups say new federal law gives leg up in fight against animal cruelty. President Trump last week “signed the Preventing Animal Cruelty and Torture Act… It comes as the Arizona Humane Society has seen a 3.9% increase in animal cruelty reports this year over last year.” CN.

More ‘quid pro quo stuff’ on SNL. From the Nov. 23 episode of “Saturday Night Live”… President Trump (Alec Baldwin) holds an impromptu press conference outside the White House near a loud helicopter and ambassador Gordon D. Sondland (Will Ferrell) shows up. WATCH:

Bruce Babbitt urges youth to address climate change. Tap on for the AZ Cap Times Q&A with the former Arizona governor and Interior secretary. 

RLGR Hero: Ahwatukee student aids starving ASU students. Sophomore Lindsay Pacheco “is one of the coordinators of the ASU Pitchfork Pantry, which helps students who can barely afford it to eat.”

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December 2019