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
What did you do yesterday?Tim Garvin Jr., Executive Vice President, City Property Management Co. Book recommendations, a homebuilder trade show and dressing up like a cowpoke occupy a good portion of Tim Garvin’s day in this latest look at the busy schedules of some of Arizona’s top real estate wranglers. RLGR. http://bit.ly/2IFTdIW
Scottsdale CBD firm secures $50M in financing to build facility. (Disclosure: Rose Law Group represents Integrated CBD.) Since January, Integrated CBD “has raised a total of $78 million.” This latest infusion will go towards building a huge extraction facility as well for a second planting on its mega-hemp farm in Yuma. PBJ (Subscriber Content). http://bit.ly/2IJUwGK
Investors buying new homes to rent out in East Valley, raising red flags. An increasing number of individual investors have been snapping up new homes with the intention of renting them out, particularly in submarkets such as Gilbert and Mesa, says real estate consultant Jim Belfiore. In light of factors that contributed to the last real estate crash, Belfiore tells reporter Mike Sunnucks that this is definitely a trend to keep an eye on. RLGR. http://bit.ly/33o6cqy
PV estate hits market with whopping asking price. If you’re a fan of hoops, tennis, swimming and/or soccer — and if you have plenty of bank — then you should get a big kick out of owning this 15,875 square-footer near McDonald and Invergordon. Price and pics at KTAR. http://bit.ly/35lfg1r
Lavitt Manor subdivisions garners PV approval. Town Council recently gave a unanimous thumbs up — with several stipulations — for a final plat of Lavitt Manor II, a two-lot subdivision being developed by Cullum Homes along Ironwood Dr. PVI. http://bit.ly/35ndhK5
Richmond American opening in Marana. • Trailside at Gladden Farms • 1,810 to 2,630 sq. ft. • Six floor plans • From low $200s • More on Trailside, including GO details • in Builder. http://bit.ly/2ozjcuS
Adaptive reuse developer Ashley Harder aims at McDowell Road project. Harder, who is principal and owner of Harder Development, is redeveloping a 66-year old commercial building at 14th Street and McDowell. Sunnucks has the project rundown in RLGR. http://bit.ly/35k2UGG
FH residents comment on Daybreak development. Feedback regarding the proposed Daybreak apartment complex in Fountain Hills was “probably as much input as the council has had regarding any issue short of a public vote.” Check out a sampling of the more than 1,000 comments in FHT. http://bit.ly/31bjwNr
HOMECOMING – Disabled Mesa veteran will keep his mobile home after all. “His mobile home was mistakenly sold at auction over property taxes that he had already paid.” Now, after months of worrying about losing his home for good, a judge has ruled Jim Boerner can keep it. AZCentral. http://bit.ly/328rFUf
Nonprofit breaks ground on affordable housing for Tucson veterans. “Esperanza en Escalante, a nonprofit organization that provides affordable housing to homeless veterans and their families, expects the construction of 50 apartments to be completed by next September.” Daily Star. http://bit.ly/316objX
New student-focused development regulations inch forward, but may have rocky road ahead. Flag is looking at “zoning changes meant to lower the height of buildings,” but it’s “not going down well” with business owners, who cite its potential for lowering property values as just one of the reasons. Daily Sun. http://bit.ly/35sDBCz
Gilbert to open Desert Sky Park.AzBigMedia has an overview, including illustrated aerial and opening-day details, for what will be “the second major recreational space to open in Gilbert in the last two months.” http://bit.ly/2paBKS6
Avondale ‘certified green’: The first 13 businesses. The city’s Certified Green Business Program recognizes businesses “for their investments and contributions to operate in a more environmentally responsible way through sustainable practices.” Which businesses have stepped up? Find out in WVV. http://bit.ly/2IK6ZKF
GOP lawmaker, environmental groups opposed to I-11. Rep. Mark Finchem and the Center for Biological Diversity both despise the idea of building a Nogales to Wickenburg freeway, “albeit for different reasons.” A CMS/Howard Fischer report in MM. http://bit.ly/35sXKIE
Newsom signs SB 330, ‘Housing Crisis Act of 2019’ aimed at speeding up homebuilding. The bill, signed by Calif. Gov. Gavin Newsom aims to boost housing production by capping fees, accelerating approvals and banning local population and housing caps. OCR. http://bit.ly/2IGHvxC
Polo anyone? WestWorld of Scottsdale transforms into polo mecca this fall – http://bit.ly/2OqiI4D
RLG HIRING: Rose Law Group is seeking a receptionist for our fun, fast-paced firm that offers opportunities for advancement.http://bit.ly/2UgnCCk
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Why did it take so long for the arrest of Paul Petersen? Kaine Fisher, Rose Law Group Partner and Dir. of Family Law, discusses with TV3. A judge got wind of it in 2006, but it wasn’t until this week that the Maricopa County Assessor was arrested for allegedly running an illegal adoption operation. Kaine Fisher finds the response time-lag “troubling.” WATCH: http://bit.ly/2IK1xHA
Sins of the father? I worked with whistleblowers in the David Petersen case. Go back 13 years with RLGR Senior Reporter/Writer Phil Riske as he recounts his investigative reporting for AZ Cap Times in a case involving Arizona Treasurer David Petersen, father of County Assessor Paul Petersen. http://bit.ly/323FIKR
[OPINION] Pinal County’s water future requires local solutions today. “The legacy of the 1980 Groundwater Management Act is an enduring one. It proved that a spirit of cooperation among diverse interests can achieve far more than by acting alone.” By: ADWR Director Tom Buschatzke in PC. http://bit.ly/33mRrV6
Arizona has tons of moolah. Revenues have exceeded expectations! Lots of cash on hand to blow on all kinds of future programs! Eh, maybe not. As Economist Elliott Pollack points out in this CMS/Howard Fischer report, there are “a host of factors that could affect” such plans. ACT. http://bit.ly/3197rbL
Arizona Republic journalists vote in favor of unionizing newsroom. The 64-30 vote caps “several weeks of lobbying over issues such as job security, workplace flexibility and pay and benefits.”AZCentral. http://bit.ly/2MC7aZP
Biggs, Gosar, Lesko want Trump to subsidize American uranium companies. And AZ Mirror serves up some delectable corrections to a few inaccurate ingredients that our three U.S. Reps. used in the recipe for their ‘yellow cake’ subsidy request. http://bit.ly/2OFVU18
DOCTOR DOCTOR, GIMME THE NEWS…Millions of Americans’ medical images and data are available on the internet. Call it a bad case of someone’s-peekin’- at-your-medical-record blues, as “hundreds of computer servers worldwide… are so insecure that anyone… can view patient records” — a situation that has likely grown even worse since this report from ProPublica was published back in mid-Sept. http://bit.ly/32krzc8
