The Dealmaker: 01/23/2019

[EDITORIAL] Why Phoenix absolutely must keep the Suns at Talking Stick Resort Arena. (Disclosure: Rose Law Group represents the Phoenix Suns.) “Downtown is stirring. The Phoenix Suns are a significant part of that ferment. When the City Council votes today, it should vote for the new Suns arena. It should vote to lift our thriving urban core.” By The Arizona Republic’s editorial board. http://bit.ly/2Wdr7tP

Talking Stick Resort Arena: An economic driver & community asset. WATCH, then visit http://phoenix.gov/arena today to share your support and keep Phoenix thriving! http://bit.ly/2sHK7mA

Greater Phoenix Chamber stands in strong support of TSR Arena renovation deal! [Today], City Council will vote on the proposed @TSRarena renovation deal. Our Chamber members will be attending and standing in strong support! From top concerts to @Suns games, we know how important the Arena is to the vitality of downtown #Phoenix. #SupportTSRA.” http://bit.ly/2RHWJcm

Phoenix Rising FC supports Talking Stick Resort Arena renovation deal.Ahead of [today’s] @CityofPhoenixAZ Council vote on the future of @TSRarena and the @Suns, Phoenix Rising would like to announce its support of the proposed deal. Details with a statement from Club Governor @berkebakay: http://bit.ly/2W9vFRY #UpRising.

Future of Suns, Diamondbacks in downtown Phoenix causing angst.“With significant decisions on the horizon for the future of the Diamondbacks and Suns in downtown Phoenix, some are concerned about what the future might hold if the teams leave.” Cronkite News. http://bit.ly/2AYJqd3

Block 23 development downtown on track for year-end completion.A “looming completion” which, in the words of RED Development managing partner Mike Ebert, shows “how far and how high we’ve come in downtown Phoenix.” A PBJ overview of the Block 23 development, featuring a 12-image SLIDESHOW of Tuesday’s topping-off event. (Subscriber Content) http://bit.ly/2AZ5l3M

Taking steps to modernize Old Town Peoria. Planning and Community Development Director Chris Jacques: “The city is trying to restore Old Town to its former position, which was a vital city center. To do that, the area needs a critical mass and a critical mass comes in the form of additional density… If we have businesses coming down we are going to need houses.” YourValley. http://bit.ly/2RGspPr

Scottsdale approves Sienna Hills Phase 2 final plat to proceed. “City Council approved the final plat for a new residential subdivision with 16 lots and four tracts on an approximately eight-acre site [near 124th St & Shea.] with single-family residential, environmental sensitive lands zoning.” Scottsdale Independent. http://bit.ly/2MsAL7h  

High profile JDM project in Litchfield Park meets opposition. Some residents say an “increase in multi-family” at Litchfield & Wigwam would “significantly reduce commercial potential” and “drive down revenue.” But JDM holds that “50 percent more residential” is “appropriate,” as “there is little interest in developing commercial on the property.”YourValley. http://bit.ly/2FRTsjs

Rising inventories tempering prices, existing home sales resume slide.“After putting together consecutive increase in October and November and ending a six-month losing streak, [NAR] reports sales plummeted 6.4 percent in December.” So why are NAR Chief Economist Lawrence Yun and NAR President John Smaby upbeat about home sales heading into spring? Mortgage News Daily. http://bit.ly/2TaoiYy

2019 Multifamily Outlook. “Rents are expected to rise at a rate of 2.8 percent, performing strongest in late-cycle markets such as Las Vegas, Phoenix and Orlando, which have reached the 4 percent mark for several months. Highlights from a new Yardi Matrix report, along with access to the full forecast, in Multi-Housing News. http://bit.ly/2AYK3mV

Smitty’s property owner fights wrecking ball in Peoria. “Last year, the 91,000-square-foot structure [at 8455 W. Grand] was deemed ‘dangerous to the life, health, property, or safety of the public’ as well as unfit for occupancy and was ordered to be demolished.” The owner was seeking to the delay demolition. A judge has declined that request. YourValley. http://bit.ly/2Tf9QyF 

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