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
From the suburbs to the exurbs: Public records show cyclical nature of growth. “To better understand this growth,”YourValley takes a deep dive into building permit activity for “municipalities throughout Maricopa and Pinal counties,” with real estate consultant Jim Belfiore providing key insight on ‘hopscotching’ home buyers and the “burst in the exurbs.” http://bit.ly/2KpX6oA
Medistar plans major Downtown Phoenix project. Phoenix Community & Economic Development Director Christine Mackay talks with GlobeSt. about the Houston-based developer’s “plans to build a $231 million transit-oriented project that will include a hotel, apartments, student housing, retail and offices.” http://bit.ly/2X3AL1L
Spotlight on mixed-use. Reps from Sundt, Grande Vita, Ryan Companies, Strategic Initiatives and OPUS Group paneled up at the recent BEX Leading Market Series event to discuss “the ever-changing world of mixed-use development,” a topic that included glimpses into their own upcoming projects. http://bit.ly/2OYUVqK
Selling a home costs $20,851, most of It taxes and commissions. That’s the U.S. average. At the extremes, selling a “typical home” in San Jose costs an “astonishing $83,770,” while in St. Louis, it’s ‘only’ $13,704. So what’s the damage in Phoenix? Zillow breaks it down, city by city. http://bit.ly/2UtIKrX
Is Scottsdale enforcing its rules for short-term rentals? “An effort to curb cramming too many people in vacation rentals didn’t make it through the state Legislature, but such a rule might not have done much good anyway if Scottsdale’s experience is any indicator.” How many prosecutions have there been for violating city code? ‘Never seen it happen,’ says one city official. AZCentral. http://bit.ly/2uUXqkN
Coolidge to explore option of selling land to new business. Development Services Director Gilbert Lopez: “If we’re not going to utilize it for a public purpose like a park or something else, it’s appropriate that we sell the property through a public process.” However, any potential buyer bent on merely “flipping or holding it for resale,” well, looks like that’s gonna be a nonstarter. Coolidge Examiner. http://bit.ly/2UekDJ6
Racing school auction depends on what’s in a name. “Bob Bondurant School of High Performance Driving on the Gila River Indian Community has been auctioned for $1.65 million in bankruptcy court, but that bid is jeopardized by a fight over whether the winning bidders get to keep the Bondurant name and memorabilia.” EVT. http://bit.ly/2Z5nUhw
An ambitious plan to transform Payson into an Old West Rodeo tourist destination. “Imagine Main Street busy with people shopping, eating and enjoying a new western-themed town square.” That’s what architect Bob Hershberger envisions: A “vibrant tourist destination” which “no other town in Arizona can match.” And the former UA architecture dean has already sketched it out in detail! Payson Roundup. http://bit.ly/2G71m76
Technical high school planned for Tucson. At fourteen years in the making and “$14 million to construct,” JTED Innovative Learning Campus planned for the NWC of Park and I-10 “would give hundreds of teens the opportunity to work toward industry certifications while earning a high school diploma.” Arizona Daily Star via BEX. http://bit.ly/2UapMSe
As office tenants expect more tech, even the windows get smart “To stay competitive, developers and landlords are being driven to add telecommunications infrastructure, video screens and, yes, glass that tints itself automatically.” NY Times. http://bit.ly/2UvePzA
The Best Kentucky Derby Party in Arizona will be here before you know it – http://bit.ly/2KmIWVe
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Click here for 2019 Arizona Legislative News
APS claims customer rates don’t fund Its political spending; Rose Law Group Co-Founder, Senior Partner, and Director of Renewable Energy, Court Rich, tells New Times, “We all know where that money comes from.” “[W]hen APS spends money on lobbying, politics, or marketing, it swears the money comes from [its parent company] Pinnacle West, and not from APS customers.” But as Court Rich explains, “The key is that Pinnacle West only has one asset that creates revenue for the company, and that’s APS.” http://bit.ly/2Iv7LMt
[FEATURE] Looking for another reason to cheer for the Cardinals? Here’s one. “A fatal accident, jail, alcoholism and addiction: NFL exec Terry McDonough tells his story.” ESPN. http://bit.ly/2UGlx5i
Ducey opposes family-separation policy, says he will finish his term despite Homeland Security opening. “[Gov. Doug Ducey] made the comments during a series of school visits Tuesday, where students and reporters alike peppered him with questions.” AZCentral has the report. http://bit.ly/2D5INQ8
