The Dealmaker: 2/27/2019

Emotions run high as Town Council mulls over Sanctuary SUP. Paradise Valley “Town Council spent nearly three hours ironing out” SOD “details with the conversation, at times, turning contentious” over the proposed Casa 3 improvements. Tap to PV Independent for a recap of the recent municipal testiness, along with a rendering of the proposed development that’s causing it all. http://bit.ly/2BXe2MA

Downtown Tempe’s “The Local” to open April 2019. • 286 units • Studio, one-, two- and three-bedrooms • Anchored by a ground-floor Whole Foods • At University & Ash • Developed/owned by Forum Real Estate Group • Managed by Mark-Taylor Residential • Detailed rundown of The Local’s “hotel-worthy amenities and services” • At RED News. http://bit.ly/2NwrVGi

Lennar closes on 195-lot prelim plat for $6.7 million in Marana. Within the much sought-after location of “Twin Peaks corridor,’ in a deal RED News reports as “one of the largest number of lots sold in a single transaction for the past year in metro Tucson.” —> http://bit.ly/2Tfh34Z

Pending home sales jump 4.6 percent in January. All four major regions saw growth last month. Chief Economist Lawrence Yun weighs in with a thumbnail analysis along with a sales forecast for 2019. Read the report in RLGR. http://bit.ly/2U8Fuy0

Top 20 counties with the most foreclosure starts. ATTOM Data Solutionsbreaks down the data to find the counties the “most foreclosure starts” to start the new year. One county in Arizona cracks the top three. Being careful not to spoil it by blurting out the name of the county, here’s just a hint: Its name begins with an “M” and ends with an “opa.” http://bit.ly/2GNxTSH

South Scottsdale may get its first cannabis dispensary; Justin Brandt, Rose Law Group litigator, highlights city’s setback requirements. Sunday Goods, an “Arizona-based cannabis company,” would be the “first medical marijuana dispensary south of Camelback” and would “fill a need created by a lack of dispensaries in southern Scottsdale.” The story in Scottsdale Progress. http://bit.ly/2tHreAU

PV couple may lose racing school to tribal firm. “Unless they come up with $245,402 by Friday, Valley motorsport legend Bob Bondurant and his wife will lose the cash-strapped Chandler racing school bearing his name to an economic development arm of the Gila River Indian Community — and lose nearly 80 cars with a total value of more than $9 million.” Scottsdale Progress. http://bit.ly/2IHQdOJ

New water sports complex coming to Gilbert. “A 25-acre water sports complex will be built on three lakes at the Gilbert Regional Park under construction in South Gilbert. The $35M water park will be a public-private partnership between Gilbert and The Strand @ Gilbert” and it will be “unlike other American water parks.” For an overview and images, catch a wave to AZBEX. http://bit.ly/2Tj5Gc1

Father and son duo create a legacy of scholarships at ASU. Driven by a “sincere desire to invest in the next generation of construction trade contractors and luxury homebuilders,” the Meeks — Jerry and son Jeremy of Desert Star Construction — “have initiated two scholarship funds” to support ASU’s “Ira A. Fulton Schools of Engineering as a part of their legacy.” ASU Now. http://bit.ly/2GNUUon

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

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