The Dealmaker: 4/17/2018

Virtua Partners acquires property in Troon North. • A 6.2 acre parcel • Dynamite & 101st Way • High-end condos planned • Virtua/Quyp Development’s 28th project in the Valley • Aerial and a bit more info at AZRE. http://bit.ly/2vmmF2z 

FirstBank helps low-income families buy homes. FirstBank and non-profit mortgage banker Trellis have launched “the Community Second Mortgage program, designed to help qualified families achieve homeownership” with “as little as $1,000 down.” Details on FirstBank’s injection of funds into the program and an overview on how it works, at AZ Business Magazine. http://bit.ly/2vowSLK

Builder confidence dips slightly, still near all-time highs. Just as it did in February and March, NAHB/Wells Fargo Housing Market Index ticked down 1 point April — to 69. NAHB Chairman Randy Noel and chief economist Robert Dietz weigh in on the “minor dip,” and Jann Swanson has the regional breakdown (and more) in Mortgage News Daily. http://bit.ly/2HIvNkv

AN OVERDUE MAKEOVER – Revitalizing The SmokeTree Resort tops priorities since sale. That is, “now that Gentree LLC has purchased the property.” The renos will aim to “retain the resort’s legacy while modernizing standards,” turning it into a “one-of-a-kind destination luxury resort.” Excellent news! because Paradise Valley Independent also reports that the “historic resort” at 7101 E. Lincoln Dr. hasn’t “undergone any significant renovations beyond general maintenance” since opening in 1966. http://bit.ly/2HHwlqL

Paradise Valley budget talks illustrate a municipality in full bloom. “Operating revenues are up, expenditures are down and the municipality holds a staggering operating reserve of 104 percent… All major sources of municipal revenues — sales tax, bed tax, court fines, state-shared revenues and building permits — are up with residential development seeing a 187 percent surge…” Paradise Valley Independent. http://bit.ly/2JSovvd

Economic Summit to give insight into Maricopa market. Maricopa Monitorpreviews “Where Entrepreneurs Meet Opportunity,” the city’s upcoming 2018 Economic Summit. “This summit — consisting of a keynote speaker and a panel — is an opportunity to showcase the city, identify its strengths and assets, and look at areas of growth.” Tap on for details: http://bit.ly/2HGfgO7

Downtown Flagstaff: Business owners, advocates mixed on turnover. “There are ups and downs, ebbs and flows, and now we are at kind of a lower ebb,” is how one business owner describes the “many evolutions” of downtown Flagstaff. On the other hand, one ‘downtown advocate’ says it is “normal for some businesses to close and others to open,” and that he hasn’t “seen anything recently to create alarm.” In Arizona Daily Sun. http://bit.ly/2qDGFIk

New officers elected for AZ State Land Department Board of Appeals. Travis Bard as chair, Keri Silvyn as vice chair for 2018-2019 term. Bard, a Chino Valley real estate broker who has represented Apache, Coconino, Mohave, Navajo and Yavapai counties on the board since 2016, served as board vice chair during the 2017-2018 term. Silvyn, a Tucson land use attorney, has represented Cochise, Graham, Greenlee, Pima and Santa Cruz counties on the board since 2017. The complete news release available in Rose Law Group Reporter. http://bit.ly/2vnu29L

Maricopa announces 2 finalists for city manager. “Rick Horst is in the middle of his second five-year contract as city manager of Rocklin, California… Nicole Lance is the assistant city manager in Surprise. One of them is in line to replace Gregory Rose, who served for almost four years before leaving in December to accept a job in Missouri.” InMaricopa. http://bit.ly/2HaNYhL

Pinal County seeks public comment on Draft 2018 Five-Year Transportation Program. The draft, which addresses the “goals of improving safety, increasing paved mileage, and minimizing dust,” was approved back in February. Through May 11th, it is “available for public review and comment by visiting the county’s website.” Read on for more and also to access the link if you want to comment. http://bit.ly/2JUGLE7

Pollack: Quiet economic week — thank goodness! Or as the Monday Morning Quarterback put it while toweling off sweat due to extreme economic exertion: “After the noise of the last few weeks, the quiet week seems like a welcomed respite.” But is this just a bit of misdirection — a play-action fake, if you will?  Because MMQ sure found the handle on enough data to hit us with these ‘Snapshots’—> U.S.: GDP, Consumer Price Index & Sentiment. AZ: Apartment Vacancies & Rents — Great Phoenix, Listings & Home Sales — Greater Tucson. http://bit.ly/2qDgz8Z

Cameron’s $5M + deals of the day – http://bit.ly/2vlTkp3

Valley’s Best Kentucky Derby Party getting here as fast as the horses – http://bit.ly/2HqEShJ