The Dealmaker: 12/23/2019

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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

Southbridge II — history in the making. (Disclosure: Rose Law Group represents Spring Creek Development.) “History never looks like history when you living through it.” So it is with Southbridge 2.0, says former City Manager and current council candidate, John Little. SI.

What national forecasts won’t tell you about next year’s housing market; real estate consultant Jim Belfiore zeroes in on Valley market. Forbes highlights how the “story of next year’s housing market will be a local one.” In RLGR, Jim Belfiore acquaints us with one of the plot lines in OUR local story, with a comment on Phoenix’s “long growth run.”

Final opportunity zone regulations released by Trump Administration; in time for end of year investments, says Dan Gauthier, Rose Law Group transactional attorney. Dan Gauthier tells RLGR that “stakeholders interested in maximizing tax incentives must initiate an investment prior to the end of the year.” Bisnow has an overview of the new OZ guidance, along with link to the entire 544-page document

South Mountain Freeway officially opens in Phoenix [VIDEO]. Check out a stretch of the new freeway, which officially opened Saturday, in this on-location report filed by 3TV/CBS 5

How has your neighborhood recovered since the recession? “Not all cities and neighborhoods have recovered at the same pace, according to an Arizona Republic analysis.” Find out how yours has fared via heat-map results. (Subscriber Content).

Langley snags land near PMGA. Langley Properties (principals Stacy and Josh Brimhall) has acquired 112 acres near Phoenix-Mesa Gateway Airport. Reporter Mike Sunnucks has the deal and development details in RLGR

Trammell Crow submits new apartment plans in Scottsdale. Where would the apartment complex be located and what is TC requesting to bring it about? Mike Sunnucks knows, in RLGR  

Phoenix to set its sights on an airport hotel contract in 2020 And the “city has already identified three companies as potentially qualified developers” for the Sky Harbor “hotel contract.” NT.

Hotel industry booms with 9 new hotels in Tempe and Chandler. “The burst comes with a strengthened economy following a period of slow hotel growth during the recession.” The hotels range from “boutiques to legacy brands.” AZCentral has a rundown. (Subscriber Content). 

Lawmakers looking at tax hike for certain home rentals. But a tax watchdog group warned that the legislation risks conflict with the state Constitution. RLGR.

Lakes lawyer rips Gee’s request for contempt stay. “In a blistering legal filing, the attorney… who represents two homeowners trying to force the return of Ahwatukee Lakes Golf Course, told a Superior Court judge that owner Wilson Gee has inflicted great hardship on residents…” AFN.

Yavapai County P&Z votes 5-4 to recommend denial of Spring Creek Ranch. “More than 125 people turned out to the county complex in Cottonwood to hear the proposal being brought forward by longtime Arizona developer Eric Borowsky and his daughter, Lisa Borowsky.” Seven hours later, P&Z rendered its decision. RRN.

Why is there such a heated debate over this Verde Valley development?AZCentral looks into the fuss over the Borowskys’ plans for a community they say “would provide economical homes in an area that is struggling with a lack of economical housing.”

Rosemont takes mine ruling to appeals court. “Rosemont Copper filed a notice Friday that it is appealing a federal judge’s ruling that barred construction of an open-pit copper mine in the Santa Rita Mountains.” Daily Star.

Longest running Maricopa council member retiring. “Marvin Brown, 85, has been a member of council for almost 11 years, with one left on his term. He has seen tremendous growth, tremendous hardship and the city overcoming obstacles.” MM. 

Arizona is the No. 2 relocation destination for Californians. STORAGECafé wanted to see what moving entails these days, as it clearly affects every sector of real estate.” AZ Business Magazine has the findings.

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

Paul Petersen’s wife files for divorce; successful community waste claim could be Pyrrhic victory, says RLG family attorney Audra Petrolle. Raquel Petersen’s divorce filing accuses husband, Maricopa County Assessor Paul Petersen, “of hiding and spending their money for his own benefit, 12 News has learned.” But in RLGR, Audra Petrolle explains how it’s possible that “even a valid and successful community waste claim will only get you so far.”

DAMMED IF IT DOES? –Damming the Little Colorado River for power projects is opposed by tribes, environmentalists. “A Phoenix company wants to build two massive hydroelectric projects on the Little Colorado River… Environmentalists and Native Americans say the projects threaten life… and would defile sacred land.” CN.

New state law could extend terms of mayor, city council members. “A relatively new state law is likely going to extend the terms of the mayor of Tucson and the rest of the [Tucson] city council by another year.” DS.

[COLUMN] Progressives and Libertarians debate at Legislature income tax credit review. State Rep. and Tucson Progressive blogger Rep. Pamela Powers Hannley says” ‘business friendly’ bipartisan votes in the Legislature to reduce income taxes and boost the economy… is not sustainable.” She calls a recent meeting of the Joint Legislative Committee to Review Income Tax Credits “an historic day” that she was “proud to be part of.” Read her view in Blog for Arizona

Libertarian Party tells Supreme Court state law keeps its candidates off ballot. AZ’s L Party says “the law pushed through the [R]-controlled Legislature in 2015 sharply increased… the number of signatures needed for [L] candidates to qualify for the ballot.” A CMS/Howard Fischer report in DS.

Democrats debate again on Saturday Night Live; Kamala says adios. Elizabeth Warren (Kate McKinnon), Andrew Yang (Bowen Yang), Pete Buttigieg (Colin Jost), Amy Klobuchar (Rachel Dratch), Bernie Sanders (Larry David) and Joe Biden (Jason Sudeikis) face off, as Sen Kamala Harris and other familiar faces crash the PBS Democratic “Wine Cave” Debate. WATCH.

Is ‘uniform dressing’ turning men into clones? “Fashion brands now hawk coordinating sets of basics for men who are busy, unimaginative or both. For some, these looks are a no-brainer solution, but others find them uniformly dull.”

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December 2019