Arizona Diamondbacks strike deal with county over Chase Field. The deal “allows the team to immediately begin looking for another home if it drops a lawsuit arguing the county should pay $187 million in repairs.” The Republic also reports that the deal allows the D-Backs to depart without penalty — under certain conditions. Tap on for the full report which includes access to the MOU as well a “cover letter explaining the proposal.” http://bit.ly/2FFR23F
New ‘opportunity zones’ aim at low-income area uplift; all areas hold great promise for attracting investment, says Jordan Rose. “[The] IRS approved [18] Opportunity zones in the East Valley, spread throughout Tempe, Mesa and Chandler [and Gilbert].” East Valley Tribune takes a look at these O-Zones and the potential economic impact they could have for both area and investor. “Governor Ducey was thoughtful in his designations. His choices range from low-income areas to Native American communities to areas in downtown Scottsdale where there is a great possibility to attract investment to the state,” said Jordan Rose, President andFounder of Rose Law Group, which has been advising clients on Opportunity Zone potential. http://bit.ly/2rjY5Kg
Beazer swings to a profit in fiscal Q2. “Closings, orders and backlog all rise as deleveraging plan stays on course,” reports Builder, which has the homebuilder’s “Fiscal Second Quarter 2018 Highlights and Comparison to Fiscal Second Quarter 2017,” plus remarks on the “improvement in profitability” from Beazer Homes president and CEO, Allan P. Merrill. http://bit.ly/2JPZ4tw
Desert views attract the sunbirds at Mountain Shadows. Builder takes a peek — inside and out — at The Residences and Villas at Mountain Shadows, the “10.5-acre residential community” from New Home Co. in Paradise Valley, which was designed “almost exclusively” with “move-down” buyers “in mind.” http://bit.ly/2rkYXhE
Rosewood Homes takes home industry award. The homebuilder grabbed “Small Volume Builder of the Year” at the HBACA MAME Awards “for its efforts at several of its neighborhoods including Sierra Highlands, Rosewood Grove andRosewood Canyon Estates.” Arizona Foothills Magazine reports that Rosewood also landed the very first award for “Rising Star of the Year.” http://bit.ly/2rikVmi
Sun Cities residents push for policy change. Homeowners in Sun City and Sun City West are having a heck of a time trying to get reverse mortgages. The “logjam” has to do with HUD’s “free assumability clause,” community “preservation fees,” and a reluctance by recreation centers officials “to adjust their bylaws.” The story in YourValley. http://bit.ly/2JLiWxN
Wickenburg Ranch conveys water systems; requests density adjustment.The developer of Wickenburg Ranch and the Town of Wickenburg are “working through a couple of changes” involving “an adjustment in the density of houses,” as well as the “transfer of ownership” of water entities. Both are happening in accordance with the “original Pre-Annexation and Development Agreement.” Details in The Wickenburg Sun. http://bit.ly/2FEC8e0
Industrial vacancy lowest in more than a decade. “The Greater Phoenix industrial market continued improving during the first quarter of 2018, though net absorption has lagged behind 2017 levels. The remainder of 2018 will be a time of tenant move-ins and construction activity… particularly in the West Valley along Interstate 10 and the Loop 303.” AZRE. http://bit.ly/2jo3cpg
New city manager excited to make Maricopa home. PinalCentral chats with new city-manager-in-waiting Ricky Horst (his first day is June 25) on a variety of topics. http://bit.ly/2HLqAf4
Cameron’s $5M + deals of the day – http://bit.ly/2HKZpAU
Kentucky Derby party Saturday at Turf Paradise, Third Annual Stella Artois Derby DayClub – http://bit.ly/2Fu0tmM