The Dealmaker: 11/4/2016

Neighborly fight over church infill in Phoenix. Phoenix Business Journal’sMike Sunnucks looks at the “not-in-my-backyard opposition [that] is popping up [from] some neighbors opposing a two-and three-story senior living complex on [North Phoenix Baptist Church’s eastern parking lots at Central and Bethany Home]… The project [an IPA Management development called Generations] could total between 6.6 and 7.65 acres on the very prominent Phoenix street corner.” http://bit.ly/2fD5x0v

Band of citizens call into question HOA management group banking practices. “A group of Scottsdale residents are spearheading an effort to evoke legislative change meant to corral the powers of management companies hired by local homeowners associations… And, they have a sympathetic ear… Arizona Sen. David Farnsworth (R)”: “‘I have been receiving emails from a constituent concerning the possibility that financial fraud may be occurring,’ he said of certain banking practices allegedly enjoyed by HOA management groups.” Read the full report in Scottsdale Independent. http://bit.ly/2ew695t

Edison Pointe requests reimbursement for improvements. “Vintage Partners… formally requested reimbursement of costs incurred while developing public improvements [for Edison Pointe] on John Wayne Pkwy and Edison Road. The improvements are necessary for private development of the 15-acre site but ultimately will be part of public roadway….” InMaricopa looks at how this reimbursement “agreement [or lack thereof] could make or break plans for development.” http://bit.ly/2fLR4Pb

Flagstaff moves forward with land buildout plans. “[The city] decided to move forward with a study to weigh the benefits of a site-specific plan for the John Wesley Powell Area… [T]he study area will include about 2,200 acres, and… at full buildout, will contain between 6,000 and 8,000 dwelling units. Little America, Canyon Del Rio and Juniper Point make up the majority of property ownership…” More about the study in Arizona Daily Sun, plus a bird’s-eye view of “the route that the extension of the J.W. Powell Boulevard would take from Pine Canyon to Fourth Street at Butler.” http://bit.ly/2fkuFrr

Supervisors mull ‘conservation’ subdivision. “A revival of both new and long-delayed ‘zombie’ housing projects in Coconino County has spurred officials to get to work updating the county’s outdated subdivision code…. [O]ne new idea on the table is a set of conservation-oriented standards that, if followed, would allow a developer to opt out of the usual public hearing process…” And what developer wouldn’t love being able to do that!?! Details at Arizona Daily Sun. http://bit.ly/2eHyIup

Housing’s new normal: Low interest rates, shifting demand, coming wave. HousingWire’s Ben Lane serves up coverage of the “‘Data, Demand, and Demographics: A Symposium on Housing Finance’ presented by the Urban Institute and CoreLogic,” where “CoreLogic’s chief economist, Frank Nothaft, told the crowd of housing insiders that anyone waiting for any dramatic shifts in housing, interest rates, or otherwise is likely to be left waiting” — something which Arizona voters have become quite familiar with… see Newsmaker item below. http://bit.ly/2eHyQKn

More Americans leave expensive metro areas for affordable ones. The Wall Street Journal looks at “the rise in housing costs on population flows.” Wait, that summary seems a little too brief, so how’s this: “Americans are leaving the costliest metro areas for more affordable parts of the country at a faster rate than they are being replaced, according to an analysis of census data, reflecting the impact of housing costs on domestic migration patterns.” Better? Even more here—> http://bit.ly/2e9iu0O

Fewer people are becoming repeat home buyers, study finds.“[A]ccording to a recent report from the Housing Finance Policy Center at the Urban Institute… there were about half as many second-or even third- or fourth-time buyers in 2015 as there were in 200.”  The possible culprits and whether the reluctancy to trade up is expected to continue, in Ahwatukee Foothills News. http://bit.ly/2f24xkJ

Dealmaker BONUS: The Gold Standard: 13 Valley VIPs. Arizona Foothills Magazine: “From the fields of sports, real estate, law, hospitality — and beyond — we learn the keys to success from some of the Valley’s most respected professionals.” Click through for the list — and to find out which of the 13 VIPs said this: “I started the law firm 16 years ago in another attorney’s storage closet. I think about never going back into that closet every day, and it renews my focus on our commitment to immediate responsiveness to our clients.” http://bit.ly/2fj5sM4

Cameron’s $5M + deals of the day – http://bit.ly/2fk1PFu

The 2016 Bentley Scottsdale Polo Championships is just one day away! – http://bit.ly/2eHwECG