The Dealmaker: 12/5/2019

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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

Scottsdale City Council approves Southbridge 2.0! Congratulations to Rose Law Group client Spring Creek Development and the Unger family on Scottsdale City Council approval of Southbridge 2.0! Complete coverage below.

Dream actualized! Scottsdale approves SouthBridge 2 project. As Councilwoman Virginia Korte aptly noted prior to casting a vote in favor of the project: “Actualization of long-time dreams and audacious goals doesn’t come easy, and I think this is the actualization of long-time dreams and audacious goals.” PBJ (Subscriber Content).

Community concerns addressed, Southbridge plan approved. With construction-impact concerns allayed, City Council approved the “10-acre development that will redevelop a significant portion of existing low-slung retail space in downtown Scottsdale’s 5th Ave.” SP.

Southbridge II, an Old Town project decades in the making, approved. (Disclosure: Rose Law Group represents Spring Creek Development.) “Fred Unger’s vision for the Canals of Scottsdale would have transformed the city’s waterfront into something akin to the San Antonio Riverwalk, but was rejected by voters 20 years ago.” His son Carter is “seeing the vision through.” AZCentral. 

52 years after founding Toll Bros., Bob Toll is still involved, ‘more as a kibitzer.’ Philadelphia Inquirer catches up with Robert “Bob” I. Toll, the company’s 78-year-old co-founder and former exec chairman who lives in Miami but still makes regular trips to the homebuilder’s HQ in Horsham, PA with “advice on how to keep numbers robust.”

Chicago investors buy Roosevelt Row apartments, plan second phase. Randolph Street Realty Capital and Origin Investments picked up the 80-unit Union at Roosevelt with plans for “an additional 105 apartment units on the adjacent parcel.” PBJ (Subscriber Content). 

Latest SmokeTree Resort proposal leaves certain components behind. A proposed “for-sale product on the 5.3-acre campus” is gone, the number of rooms have been reduced, and building height has been capped. Those are among the changes as SmokeTree returns for a “second round of municipal deliberations” in Paradise Valley. PVI. 

Green light for growth in Avondale. “In an area just north of ISM Raceway, the Avondale Planning Commission waved the green flag for a few development projects to surge ahead. Four neighboring developments are projected to build 6,000 homes.” WVV.

Booming Buckeye braces for 2020. It looks like “America’s fastest-growing city” led by Mayor Jackie Meck won’t be slowing down anytime soon — whether population growth, homebuilding or “planting seeds” for big businesses. WVV talks to Mayor Meck about all that and more.

Owners say ‘nightmare neighbors’ shift future housing priorities. Mr. Rogers sang, “It’s a beautiful day in this neighborhood, a beautiful day for a neighbor…” — a sentiment seemingly in sync with findings in a new survey from Ally Financial — but only if those neighbors keep their distance! Check out highlights from the study in REALTORMag.

Encanterra annexation on hold; challenge filed in Pinal County Superior Court. QCI reports that group called “Encanterra Residents Against Annexation” has filed a challenge, delaying the annexation of 755-acres into the Town of Queen Creek. ->

Discontent spurs calls for Foothills reforms. Homeowners fed up with the Foothills Community Association Board on a “wide variety of issues” have “launched a petition drive to get a special election on five bylaw reforms before the association holds its annual board election in April.” AFN.

Phoenix moves forward with Latino Cultural Center. City Council voted yesterday to designate the North Building at Hance Park as the preferred location for the new center while leaving the door open to other locations. RLGR.

Phoenix’s first comic-themed restaurant is open. Mexico-based restaurant, bar and store ComicX opened yesterday at Desert Ridge Marketplace. AZCentral takes a look at what to expect if you’re planning to check it out.

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

[COLUMN] Americano! producers invite you to ‘something special.’ The producers of Americano! invite you to The Phoenix Theatre Company in January for the debut and run of the timely true-story musical based on the life of DREAMer Tony Valdovinos, a Phoenix high school grad who was inspired by 9/11 to join the Marines on his 18th birthday, only to be denied due to his undocumented status.

WATCH: The greatest trick shot ever — slam dunk from 13,000 feet. When it comes to hang time, Air Jordan’s got nothin’’ on the Harlem Globetrotters’ Hammer Harrison! — not to mention Harrison’s amazing WHAM-BAM finish in Eloy on Tuesday! Check it out!

Abuse of power, bribery, obstruction: Democrats’ impeachment plan takes shape. Constitutional scholars were center stage at yesterday’s House Judiciary Committee proceedings, where Ds laid out “the framework for articles of impeachment against” President Trump, and Rs did what they could to push back. AZMirror.

Progressives argue in lawsuit ALEC violates Open Meeting Law. “A coalition of rights groups filed suit Wednesday, accusing state lawmakers of illegally meeting behind closed doors with special interests.” CMS/Howard Fischer has the report in ACT.

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December 2019