The Dealmaker: 8/18/2017

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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

 

 

Multifamily housing booms along Chandler’s Price Corridor. “As Chandler’s booming Price Corridor continues to grow, area homebuyers are driving a new demand for luxury urban living which is fueling new developments.” AZRE has details on “one of the area’s first upscale condominium developments, The Cays at Downtown Ocotillo.” Also, The Cays homeowners talk about some of the things that attracted them to this Statesman Group development. http://bit.ly/2iefO4G

Glendale City Council approves Cadence at Park Paseo. “Council [has approved] the new K-Hovnanian Homes [in-fill project] near the north side of Grandview… at 73rd Avenue… Cadence at Park Paseo will consist of 50 single-family residential lots at a density of 6.08… on approximately 8.22 acres… After council battled over Stonehaven in June, there was little opposition to this project.” District Councilmember Joyce Clark: “I think this site is difficult to work with and in that circumstance, this builder should be given compensation in density because of the size [and ‘constraints’].” The Glendale Star. http://bit.ly/2wYttjt

University backers retooling Payson campus plan. “Backers of a plan to build a university in Payson say they’re ‘resizing’ the campus, but still working with all the state universities to build a campus on 254 acres of land… [They] still envision an ultimately $1.1 billion project, but the university component [ASU] may account for a smaller part of the total project than originally envisioned…” Payson Roundup. http://bit.ly/2uPESog

Million-dollar neighborhoods proliferate; see how Phoenix stacks up.“U.S. home values are at a record high as the housing market continues its recovery from the Great Recession. As a result, an increasing number of ZIP codes are finding themselves on [Zillow’s] $1 Million Neighborhood list.” Tap to Builder for an overview of the report along with a link to the full Zillow analysis. http://bit.ly/2uYc2hT

Diamondbacks must solve stadium dispute with Maricopa County. “[The] dispute between Maricopa County and the Arizona Diamondbacks over repairs and improvements to Chase Field could be over before the end of the year…” Both sides “claimed victory” from Thursday’s ruling, which ordered the team and county to “negotiate through arbitration and to set the talks on a speedy schedule.” AZCentralalso reports that since “the case will not go to trial, the public will not have a window into the talks unless the arbitration is opened to the public.” http://bit.ly/2wXDQnH

AIRPORT/TRAFFIC – Overhaul continues throughout Scottsdale Airport property. “Scottsdale Airport began its first phase of construction on Aug. 1, demolishing the existing terminal and adjacent office buildings and site. Phase 2 is slated to begin this fall…” Scottsdale Independent has an overview of the renovations along with details on expected traffic impacts. http://bit.ly/2v8ENaV

COOLIDGE: FINDING ITS ZONE – Coolidge amends zoning code to make way for potential recycling center. “City Council voted… to rework the city’s zoning code to make the development of a recycling center possible…” Coolidge Examiner reports that “the decision to amend the zoning code came shortly after the city received an inquiry about industrial zoning compatibility with regard to a recycling center and quickly discovered a major oversight in the… general plan.” Development Services Director Gilbert Lopez: “We realized (that) we didn’t have the zone for it.” http://bit.ly/2fSuG85

[EDITORIAL] Our View: Grand Canyon pipeline replacement vital as crowds grow. In light of record numbers having visited the park last year —  and even more record-breaking numbers expected in the future — the Arizona Daily Sunfinds it “encouraging that the park has finally been given the green light to replace the decrepit 16-mile water pipeline that serves all of the South Rim,” particularly since “the Park Service has spent $7 million in repairs in just the last three years.” But the pipeline isn’t “the only capital project that has been on the park’s wish list for decades.” –> http://bit.ly/2whmV2g

Ray Kelly: Developers need to think more about counterterrorism, not cost reduction. Ray Kelley was “New York Police Department commissioner at the time of 9/11… Kelly talked to Bisnow about how terrorist threats are evolving and what property managers and landlords should be doing in the wake of recent attacks in cities like Orlando, Manchester and London [and now, Barcelona].” http://bit.ly/2whaIuw

Chinese pullback won’t dent real estate prices, Brookfield says. “There is enough capital pouring into real estate from multiple regions… to counter any potential slowdown in Chinese investment, Brookfield Property [CEO] Brian Kingston said in a Bloomberg Television interview… ‘There was a lot of headlines around how much capital was coming out of Asia… The reality is it’s broad-based. It comes from a lot of places.”  http://bit.ly/2fRxH8J

Dealmaker BONUS: Here’s a first look inside the Van Buren in Downtown Phoenix. “It’s two weeks before The Van Buren opens, and its interior is alive with [construction] activity…The local concert promoter and co-owner of The Van Buren [Charlie Levy]  leads [Phoenix New Times] on a tour through the [’20,000-square-foot’] venue, located in a historic building at Fourth Avenue and Van Buren Street that housed the Phoenix Motor Company dealership in 1939.” Check out the story and photos here: http://bit.ly/2vPR31Z



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

Southwest rises as 2018 Senate battleground. “[I]n a season of political tumult, Nevada and Arizona have emerged anew as a defining battleground for both parties — states that encapsulate the evolving politics of the Southwest and may control the balance of power in the Senate.” Read in the New York Times how in “both states, Republican senators who have crossed Mr. Trump now face the wrath of his political base.” http://bit.ly/2fRNX9F

Trump aides worry he hurt hopes of defeating Flake. Yesterday’s presidential “shout-out on Twitter” to former state senator Kelli Ward “went against the wishes of his advisers and potentially undercut their efforts to unseat GOP Sen. Jeff Flake.” POLITICO reports that “Trump aides were taken aback by the tweet” and that “[m]any of them are deeply skeptical about Ward’s ability to defeat Flake.” http://bit.ly/2woWXJH

We can’t stand by and let that happen’: Legislators fight Trump visit, Arpaio pardon. “Democratic lawmakers, faith leaders and community activists are pushing state and local officials to join them in protesting President Donald Trump’s visit to Phoenix on Tuesday, as well as a possible pardon for Joe Arpaio…” AZCentral(Also see: “Phoenix police chief: City to deploy ‘maximum staffing’ at Trump rally.”) http://bit.ly/2fRyIxz

Grand Canyon University President Brian Mueller blasts ASU president Michael Crow for ‘continued disparaging and erroneous remarks.’ They may not doing battle ON the field, but they’re doing so away from  it. The feud basically boils down to ASU saying to GCU, “We don’t wanna play ball with you anymore!“ (“ASU President Michael Crow will not let his school play Grand Canyon,” even though it “used to play Grand Canyon until around 2013.”)  On Tuesday, ASU President Michael Crow talked about the matter. Wednesday, GCU President Brian Mueller responded. Today you can read about the bickering at AZCentral. http://bit.ly/2wXT0cH

Supreme Court rules state has say on gun laws, not cities; ‘perceived as a win for fiscal conservatives’ says Rose Law Group litigation attorney Logan Elia, who focuses on gun law and creating NFA trusts. Capitol Media Services’ Howard Fischer: “[J]ustices voided a 2005 Tucson ordinance that says when the police department obtains a gun through seizure or surrender, the agency ‘shall dispose of such firearm by destroying the firearm.’… Thursday’s decision [‘that that cities, towns and counties have no right to enact their own gun regulations’] has implications beyond Tucson and the question of firearm regulations.” Here’s just a snippet from Logan Elia’s detailed comment: “[B]etween 2013 and 2016, the City of Tucson destroyed approximately 4,800 unclaimed or forfeited firearms [‘contrary to state law’]… The case is perceived as a win for fiscal conservatives and opponents of piecemeal firearms regulation.” http://bit.ly/2xbD5Ha

[IN-DEPTH} Personal information requirement for drug could hamper opioid crisis effort. “Naloxone [brand name, Narcan] reverses the effects of overdoses from opioids… Gov. Doug Ducey’s requirement that people give their personal information to a state database when they pick up [the] life-saving drug… at a pharmacy may actually jeopardize lives, say those who help people with drug addiction recover.” Arizona Capitol Times. http://bit.ly/2idv4i3

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