The Dealmaker: 12/3/2019

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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

Lucid Motors electric vehicle plant could create nearly 5K jobs. “This investment could transform the economy of Pinal County and Casa Grande for years to come,” said Gov. Doug Ducey, who joined Lucid CEO Peter Rawlinson, CG Mayor Craig McFarland and Pinal BoS Chairman Mike Goodman for Monday’s ceremony marking the formal start of construction. AZCentral.

Lucid holds ‘ground building’ to launch construction of CG plant.PinalCentral has much more on yesterday’s event, where instead of the “typical overturning of earth with golden shovels, Lucid Motors opted for a ‘ground-building’ ceremony.”

Q&A: Supervisor Anthony Smith talks county achievements, challenges. What’s on Anthony Smith’s mind as he enters “his last year as Pinal County supervisor for District 4”? Find out at InMaricopa as he chats about “2019 and what may happen in 2020, his perspective of Maricopa, Interstate 11, transportation, future concerns for the county and more.”

Pollack: Important info. Thanksgiving made it “a short week for economic data,” but The Monday Morning Quarterback still stuffs us with “some important pieces of information,” including upbeat news concerning new home sales — plus these snapshots: U.S. • GDP • Consumer Confidence • Income • Durable Goods. AZ • Sky Harbor Activity • Home Prices – Phoenix.

Builders are coming to the housing market’s rescue. “A housing market stymied by supply shortages will get relief next year from homebuilders, according to the National Association of Realtors.” HousingWire.

2019 Builder of the Year: The New Home Company. Being “smart, nimble, and profitable thanks to a deliberate diversity among its people, processes, and product” has earned The New Home Company recognition as Professional Builder’s 2019 Builder of the Year.

Waterfall Villa — a lock-and-leave community in Chandler — in development. • 106 villa-style residences • 1,225 to 1,630 sq. ft. • From the mid-$200s • Near Chandler & Copper • More on Waterfall in AZRE

California industrial developer continues Phoenix-area building spree. “Majestic Realty Co. has closed on 30 acres of land near Loop 202 in southwest Phoenix where it plans to build a commerce park totaling more than 500,000 square feet.” And it “is nearing completion on two other industrial projects in the Valley.” PBJ (Subscriber Content).

Here are Arizona’s biggest economic development wins of 2019. Forty big economic developments (by our count) in Phoenix, Scottsdale, Tempe, Chandler, Mesa, Glendale, Goodyear, Tucson, Flagstaff and Yuma — pretty much everywhere throughout the state! AzBigMedia.

Ottawa University completes $21M, 96,000 SF athletic complex. Cawley Architects, the City of Surprise and Ottawa University have unveiled the O’Dell Center,  a multi-use athletic facility designed to house Ottawa University’s 21 indoor and outdoor sports teams.” AZRE.

The Mint medical marijuana dispensary looks to expand Mesa location, add extraction lab, cultivation center. RMEG Investments requested the building improvement and expansion permit. Mesa’s Board of Adjustment will consider it Wednesday. Reporter Mike Sunnucks has a preview in RLGR

Glendale eyes new rules for city land, real estate deals, sales. The city is considering adopting new procedures to how it disposes of city-owned buildings and real estate. Sunnucks has details in brief at RLRG

Shirley Scott about to end 24 years of service on Tucson City Council. While Councilwoman Scott’s legacy isn’t defined by only one thing, if you had to name something, the “Civano development, which has earned worldwide attention as a model for a mixed-use, sustainable community,” just might be it. Daily Star.

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

Congress might finally give the cannabis industry access to banks. Should be ‘top priority,’ says Adam Trenk, Rose Law Group partner, director of cannabis and hemp departments. Federal laws currently stand in the way of “state-legal” cannabis businesses’ access to financial institutions. The SAFE Banking Act would change that. Reason • In RLGR, Adam Trenk highlights how removing such roadblocks for the cannabis industry would “bring this emerging market completely out of the shadows.”

Tucson City Council may take formal stance opposing Trump’s ‘remain in Mexico’ immigration policy. “The item also asks the federal government to release humanitarian funding to the city, which has provided care for asylum seekers.” Daily Star.

Then there were 3: Green Party no longer recognized as a political party in Arizona. “The Green Party of Arizona needed to collect 31,686 signatures by Friday to earn recognized status from the Secretary of State’s Office.” The Green Party didn’t come close. AZCentral.

The race to fill local newsrooms. “Efforts to fill local newsrooms are ramping up as the industry continues to face rapid cuts, consolidation and closures.” Axios.

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December 2019