The Dealmaker: 12/9/2019

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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 Two: Scottsdale City Council approves mixed-use project. (Disclosure: Rose Law Group represents Spring Creek Development.) YourValley reports on last week’s big municipal approval of Southbridge 2.0, the “mix of residential, hotel, office and commercial uses” that promises “to carry a portion of Old Town Scottsdale into a new era.”

[OPINION] Scottsdale’s visionary leadership demonstrated through SouthBridge Two approval. Don Henninger, exec director of Scottsdale Coalition of Today & Tomorrow, lauds council members who voted in favor of SouthBridge 2.0, “for basing their decision on the facts of the project.” SI.

Open space, timelines, Mid-Century modern design plans submitted for Scottsdale Entrada project. Banyan Residential has submitted more plans for its big redevelopment at McDowell and 64th St. Reporter Mike Sunnucks has details in RLGR 

Residential plans put forward in North Scottsdale. Sonora West Development has put forward plans to develop 20 acres at Happy Valley  and 92nd St. Sunnucks files a brief report on the proposed project, property aerial included, in RLGR

Land sales maintain steady pace, but remain well short of pre-recession peak. This time, developers are “remaining careful on land acquisitions,” reports National Real Estate Investor, which cites Phoenix among “the most active markets for development site transactions.”

Short-term rental units sprout up in Phoenix as demand from visitors increases. STRs: A way for homeowners to make “extra money and give someone an inexpensive place to stay”? Or: Lodging “at the expense of affordable housing”? In PVI, an apartment building owner and an affordable housing advocate give their takes.

PV continues to grapple with short-term rental prevalence, mitigation. “While discussing adopting a new ordinance in the ongoing effort to fight unruly short-term rental properties in Paradise Valley, a power struggle between two local leaders presented itself at the dais.” SI.

Sedona revises code on short-term rentals. With state law giving cities and towns “limited” power to regulate STRs, Sedona recently acted on that authority, revising its code concerning “one of the most talked about topics in the community.” RRN.

PHX Sky Train Phase 2 aims to improve Sky Harbor travelers’ experience.AzBigMedia brings us up to speed on the second phase of  PHX Sky Train, which will extend the line 2.5 miles “from Terminal 3 to the Rental Car Center.”

Medical marijuana cultivation at Florence Junction OK’d. While giving itself an option to annually review the permit renewal, Pinal County BoS last week approved an SUP for a “medical marijuana cultivation and production center” at U.S. 60 and SR 79. Flo Reminder.

Goodyear residents want Trader Joe’s, city launches campaign. And just how badly does the city want a TJ’s? As part of the campaign, Goodyear Mayor Georgia Lord will proclaim Dec. 13, 2019 as “We Want Trader Joe’s Day.” YourValley.

Glendale to bring Portillo’s, Lou Malnati’s and more in 2020. “Since the opening of Arrowhead BMW, Glendale’s Arrowhead neighborhood has seen a boost in development… In recent months, it’s all about the food.” YourValley.

Chandler to vote on new rules for scooters. The proposed ordinance would lay down several new rules for operating electric scooters on the streets — and sidewalks — of Chandler. RLGR. 

Navajo Gaming nearing Flagstaff after purchase of new property. Hoping to draw more people to its Twin Arrows Casino Resort 15 miles east of Flag, Navajo Gaming has snatched up 14 acres “two miles beyond city limits” in a purchase that includes Horsemen Lodge Steakhouse. Daily Sun.

Q&A: Sierra Vista Economic Development Director Tony Boone. “Boone sat down with the Herald/Review this week to discuss his current job and its inherent challenges, airport development, the city’s West End and much more.”

L.A. bans developers from making campaign donations. “In the midst of an affordable housing crisis, Los Angeles politicians have decided to reduce their own incentives to approve more development.” Reason.

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

Farmers rushed into hemp. Now they face a glut. “Prices for the crops are falling, and some growers are struggling to unload their product.” (AZ listed among the states with “Most Acres Planted.”) WSJ (PAYWALL).

New Arizona poll shows Buttigieg, Biden in statistical tie with Trump. AZ may “be in for one of the tightest presidential races in memory.” KTAR (RELATED: “Navajos express mixed opinions on Trump impeachment probe.” CN).

Contract for stretch of Arizona border wall raises concerns of improper influence by Trump. Did President Trump ‘improperly influence’ the Army Corps of Engineers to award a border wall contract to Fisher Sand and Gravel? That’s what Rep. Bennie G. Thompson, D-Miss wants to know. Daily Star.

‘SNL’ takes us into the NATO cafeteria, with Trump and critics. Foreign leaders (Jimmy Fallon, Paul Rudd, James Corden) that were caught making fun of President Trump (Alec Baldwin) at the NATO summit continue their juvenile taunting in the cafeteria. WATCH:

Ducey floats idea of not electing county assessors, treasurer. “Gov. Doug Ducey said Friday that Arizona could do ‘just as well’ without electing certain county officials.” Cap Media Services Howard Fischer has the story.

[OPINION] Maricopa County should hold its nose and (gag) reinstate Assessor Paul Petersen. “A county investigation shows Paul Petersen hasn’t neglected his official duties as tax assessor — largely because he doesn’t have many.” By: Republic columnist Laurie Roberts.

Arizona Supreme Court rules in favor of Payson Mayor Tom Morrissey – no recall election. “The surprise Friday night ruling was not announced by the court, although a ruling was expected by this coming Tuesday on the expedited appeal.” AZ Law.

APS customer bills were turning up online, but company says no data breach. “An odd glitch involving the electronic-billing system at Arizona Public Service Co. resulted in nine customers’ bills from March 2017 showing up online, available to anyone.”AZCentral (PAYWALL).

ACC Commissioner Burns considering end of monopolies for Arizona utilities. “Imagine utility companies fighting for your business instead of monopolies setting rates in Arizona.” Next week, ACC “will investigate ending utility monopolies in hopes of lowering customer bills,” KTAR reports.

Arizona Republic lays off non-newsroom employees in wake of Gannett acquisition. “It is not known how many Republic employees were laid off this week, but local cuts were made in the advertising, sales and circulation departments.” PBJ (PAYWALL).

Ohio State will take on Clemson in Fiesta Bowl. Both teams bring 13-0 records to a game that will determine who goes on to play for the College Football Playoff national championship.12 News.

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December 2019