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The Dealmaker: 2/8/2018

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

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Housing boom for Pinal? The Pinal County housing market will be the main topic at TOMORROW’s Pinal Partnership February breakfast being held at Elements at Ak-Chin Circle. Speakers/panelists include Jeremy Ramsdell, Ashton Woods, Jeff Gunderson, Lennar. Full details on attending TOMORROW’s (Friday, February 9th) event in Rose Law Group Reporter. http://bit.ly/2FYacSV

Home builders association sues Pinal RTA. (Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County working to bring new transportation infrastructure to the county.) “The Home Builders Association of Central Arizona is suing the county over Proposition 417, arguing that… taxpayers were misled when they voted… ” However, in Casa Grande Dispatch, Pinal County spokesman, Joe Pyritz, begs to differ. http://bit.ly/2nSUIbz 

Quick Quack Car Wash ruffles feathers in Tempe. (Disclosure: Rose Law Group represents Michael Pollack in this matter.) “The city received hundreds of emails from people weighing in on the… proposed Quick Quack Car Wash” at Baseline and McClintock. One of those weighing in — via letter — was Thomas F. Galvin, land-use, regulatory and water attorney with Rose Law Group, which has “filed an appeal with the city” on behalf of developer Michael Pollack in order “to revoke [Quick Quack’s] building permits.” As Thomas Galvin puts it in this AZCentral report: “The proposed car wash that plans to display a giant duck  does not evoke Tempe’s vision for ‘a city that is visually attractive.’ ” http://bit.ly/2EbAdSs

Governor gives thumbs down on water proposals. “Despite months spent hashing out water proposals behind closed doors, [Gov. Doug Ducey] doesn’t like what he sees in legislation meant to overhaul water policy.” Why not? Arizona Capitol Times reports that what’s missing are “key provisions to protect the level of water in Lake Mead and fend off any future shortages.” (Subscriber Content). http://bit.ly/2Epi03h

Bob Parsons’ YAM Properties breaks ground on North Scottsdale development. The Arizona-based real estate investment company founded by Bob Parsons has broken ground on YAM Circle, a 17,800-square-foot shopping and dining hub located at the traffic circle connecting Hayden Road and Northsight Boulevard. This will be the first project YAM Properties will build and develop from the ground up. Full press-release details in Rose Law Group Reporter. http://bit.ly/2EbAJvQ

Business Briefcase: Goodyear approves 100 court home lots. “Bella Rosa is coming to the Canyon Trails [MPC]. Goodyear Council approved the preliminary plat for the community, which is located at the [N.E.] corner of Van Buren Street and 158th Avenue… This subdivides 17.5 acres into 100 court home lots and 11 tracts.” More on this project and other West Valley real estate related “moves,” in West Valley Viewhttp://bit.ly/2C5cMUW

Millennials are flocking to the suburbs—here are 20 of the most desirable ones in America.Money looked at the “best place to live in every U.S. state based on qualities like affordability, convenience, education and safety” — and one Valley town came out on top! HOWEVER, one piece of data in particular for this local enclave nearly rocked the worlds of some here at Dealmaker HQ when they saw it. See if you can spot it among CNBC’s highlights of the Moneyreport. http://bit.ly/2FUTDY0

Redfin users looking to flee high-tax hubs. Buh-bye, L.A., San Fran, and New York City. Hello, Valley of the Sun! Phoenix was among the top destinations that Redfin “home searchers” had their eyes on when looking to “move to another metro area.” Highlights, plus a link to “the full report, complete with an interactive data map of metro-to-metro migration trends and full methodology” — in Builder. http://bit.ly/2nNXxeH

Arizona offers homeowners little protection from bad HOAs, managers.<– “As a result, homeowners are left with little recourse when an HOA decides to take their home, or a management company embezzles hundreds of thousands of dollars intended to repair roads or replace roofs. Some housing advocates are pushing for reforms — and more oversight. But most of their efforts have found little traction.” AZCentral reports on “where homeowners can turn” when “HOA’s go bad.” http://bit.ly/2FZKYnw

Consumers are stoked about housing market. “Five of the six components that make up Fannie Mae’s Home Purchase Sentiment Index rose in January, pushing the index to an all-time high.” What was the “main driver of the overall index”? Find out, plus get a full component breakdown along with perspective from Fannie Mae chief data dude Doug Duncan — all in Mortgage News Daily.http://bit.ly/2BhARuV

Will stock market volatility affect house prices? MarketWatch poses the question. The replies come via two esteemed industry insiders: Daren Blomquist, senior vp at  Attom Data Solutions, and Joseph Kirchner, senior economist at Realtor.com®. Oh, and then near the end of the article, some guy named Sam Heskel — apparently a bigwig at some “real-estate property valuation firm in Brooklyn, N.Y.” —  throws in his two cents. http://bit.ly/2sh2fWZ

Hours of work needed to pay rent in the 25 largest cities. “SmartAsset set out to find where rent consumes the most of the average paycheck,” and Builder has the “Key Findings,” including the kind of work-week Phoenicians must put in to meet their monthly rental nut. http://bit.ly/2shqSmv

Meck: Nikola move a ‘huge asset.’ “The new 1-million-square-foot [Nikola Motor Company] facility, which will sit on 500 acres of land at the Sun Valley and future Wintersburg parkways, is expected to bring a $1 billion capital investment and nearly 2,100 jobs to the city by 2024.” It’s also expected to “jump-start the development of the master-planned community Trillium at Douglas Ranch.” And Buckeye Mayor Jackie Meck is TOTALLY PSYCHED about all of it, in West Valley View. http://bit.ly/2skgt9I

Downtown Chandler stop three on Payson officials’ redevelopment tour.“Hoping to gain inspiration from other communities that have boosted their downtowns, Payson staff and council members visited with Chandler officials for ideas on how to take Payson’s historic Main Street from cowboy roots to thriving economic center.” And it looks like reporter Alexis Bechman tagged along on the ‘official’ tour. Read her coverage in Payson Roundup. http://bit.ly/2EQn52g

East Valley losing another high-profile leader to Mormon mission. On Monday, Dealmaker mentioned a news item that focused primarily on Denny Barney stepping down as a Maricopa County Supervisor to assume the role as CEO of the East Valley Partnership. Today, AZCentral shines the spotlight on the man for whom Barney is taking over: Former Gilbert mayor John Lewis, who is “step[ping] down to serve as a mission president of the Jesus Christ of Latter-day Saints Church in Cambodia.” http://bit.ly/2BO0Uv5

Maricopa scrambles to fill Copper Sky funding loss. The City of Maricopa is entering the “fifth and final year” of a “$7.4 million grant… awarded” to it “by the AK-Chin Indian Community.” InMaricopa reports that with the “funding loss” right around the corner, “administrators are sifting through” the budget for Copper Sky Regional Park and Multi-Generational Center “in an attempt to lower overhead and get the facility on track to self-sustainability.” http://bit.ly/2C3aYM5

Goodyear offers city manager post to Arendall. Out of “58” applicants, former “deputy manager of the City of Peoria,” Julie Arendall, “has been selected to be Goodyear’s next city manager.” For more on ‘city manager-select’ Arendall and her “17 years in local government,” tap to Arizona Business Daily. http://bit.ly/2C51Wyg 

Florence Town Council debates value of attending national conference.“The council was asked to authorize up to $5,400 to send Mayor Tara Walter and Vice Mayor Vallarie Woolridge to the National League of Cities & Towns’ annual conference, March 8-14 in Washington, D.C.” HOWEVER: “With a couple of council members questioning the value of attending… the Town Council voted to table the item.” Get the blow-by-blow of how Monday’s vote went down, in Florence Reminder. –> http://bit.ly/2nTX2Ps 

 


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

When was the last time a government turned down a million bucks? It was Tuesday, actually. That was when “Pima County’s supervisors voted for the first time to reject [$1.4M in] federal money that encourages collaboration between the Sheriff’s Department and the Border Patrol…” More on the 3-2 party-line vote and what it means for “agencies along the border,” in Arizona Daily Star. http://bit.ly/2EdE518

2 snafus in CD8 special election ballots. “A generic illustration demonstrating how to fill out election ballots will be redesigned after it caused confusion among some voters in Arizona’s 8th Congressional District… [T]he illustration instructs voters to ‘vote for not more than 2’ candidates.” And the problem with that is…? Find out in Arizona Capitol Times. (In RELATED snafu news, AZCentral has this: “How a Glendale woman got 2 ballots for special election to replace Trent Franks.”) http://bit.ly/2EcgFxr

Robots, the future errand-runners of Arizona? “State lawmakers took the first steps Wednesday to legalize the use of what are formally called ‘personal delivery devices.’” Capitol Media Services’ Howard Fischer reports that HB 2422 would “specifically grant” these “armies of small six-wheeled automated robots” the “right to operate on sidewalks and in crosswalks” in order to deliver “everything from lunch and groceries to the mail.” READ ON at Arizona Capitol Times. http://bit.ly/2C4YUdn

When the media become a political weapon. “People are struggling to distinguish real facts from fake news, driving a collapse of trust in the media and government as institutions… Political operatives who once relied on one-sided media outlets and platforms during campaigns now acknowledge their role in the erosion of trust in media and facts in general.” Axios. http://bit.ly/2EaY00B 

The coming conflict between millennials and boomers. “The U.S. is headed for a potentially dangerous new social rift, this time between millennials and baby boomers, each wrestling for diminishing jobs and shrinking government assistance, according to a new paper.” Axios. http://bit.ly/2se7lna

Here’s why (and where) we aren’t living as long. “In 1960, the U.S. had the highest life expectancy in the world. It’s lost ground to other industrialized nations ever since.” That finding and others in this USA TODAY overview of a new report “in the BMJ, formerly known as the British Medical Journal.” http://bit.ly/2BiJlSD

The power of helping those in need: Rose Law Group Heroes of the Week. Rose Law Group Reporter salutes nine Salt River Project employees who returned home this week after helping with the efforts to restore power to Puerto Rico following Hurricane Maria. http://bit.ly/2E9uf4B

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

Greater Phoenix industrial vacancy drops to lowest level in 10 years Read more


Cameron’s $5M + deals of the day

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Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County.

Price: $84M
Buyer: Fashion Center Acquisition, LLC
Seller: Broadstone Fashion Center, LLC
Property Type: Apartments
Property Size: 496,622 SQFT
Location: 555 South Galleria Way, Chandler
APN: 301-65-968
Financing: New loan, conventional
To view the affidavit: 180103153, click here.

Price: $17,350,000
Buyer: WWC XXXI, LP
Seller: BMD Villatree Partners, LLC
Property Type: Apartments
Property Size: 357,933 SQFT
Location: 1750 S Price, Tempe
APN: 133-01-340
Financing: New loan, conventional
To view the affidavit: 180102866, click here.

Price: $7,622,933
Buyer: MECP1 MESA 1, LLC
Seller: DMB Mesa Proving Grounds, LLC
Property Type: Vacant land
Property Size: 431.87 acres
Location: Eastmark, south of Elliott Rd, Mesa
APN: 304-31-001E, 304-31-001G – 001H, 304-31-002E
Financing: Cash
To view the affidavit: 180103109, click here.

Price: $6M
Buyer: Cushman & Wakefield U.S., Inc
Seller: Townley SPE, LLC
Property Type: Commercial
Property Size: 479,419 SQFT
Location: 880, 8826 and 8836 North 23rd Avenue, Phoenix  
APN: 158-02-126, 158-02-010C, 158-02-009C
Financing: New loan, conventional
To view the affidavit: 180103723, click here.

The Dealmaker: 2/12/2018

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

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22-story mixed-use tower planned in Tempe. Developer Core Spaces is “looking to create” The Collective on 7th & Myrtle, “a 240-feet tall tower with 269 luxury apartments, 6KSF of first-floor retail/restaurant,” and more.  AZBEX has renderings and further details, including unit breakdown and info on The Collective’s “unusual… parking plan.” http://bit.ly/2EzCI0b

KB opens new north Tucson neighborhood. “KB Home plans to construct a total of 45 two-story residences” at La Cholla Station, “situated in an established northwest Tucson neighborhood near the intersection of La Cholla Boulevard and Orange Grove Road.” Get the full, press-release treatment, in Builder. http://bit.ly/2EjilBe

New study shows Phoenix singles have hard time purchasing homes. Zillow “analyzed the value of homes and income data from census in order to estimate the length of time it would take for both a single person and married couple to save a 20 percent down payment for a home.” So how long would it take in Phoenix? KTAR has the findings, but here’s a HINT: It’s about a third less time than “single homebuyers in San Jose, Calif.,” which had “the longest duration of time in the nation.” http://bit.ly/2smme6Y

5 least expensive home sales in Maricopa. “The least expensive home sold in Maricopa Dec. 16-Jan. 15 was a 46-year-old house across the street from Maricopa High School. It was the first time the home, built in 1972, had been on the market.” Check out a pic and learn more about the place, plus get info on the four other top bargain-basement deals — location, selling price — at InMaricopa. http://bit.ly/2BpiWm8

How tax-reform changes will affect homeowners and those considering buying. “The nation’s homeownership rate recently rose on an annual basis for the first time in what seems like forever — the first gain since 2004. If this trend is to continue, however, it will have to swim upstream against some of the changes brought about by income-tax reform.” Could reform “erode the the argument in favor of ownership”? AZCentral examines. http://bit.ly/2ElyhXv

Chinese Cultural Center saga: Where the legal disputes stand. “News of a remodel to Phoenix’s Chinese Cultural Center announced last summer sparked a feud over property rights and preservation…” AZCentral takes “a look at where each legal dispute stands” in a “battle” that it says “is nowhere near over.” http://bit.ly/2BWp3zz

Developer plans to scare up a haunted hotel in century-old building in Peoria. “Dan Scott Halbert of Matrix Real Estate Investor Network… bought the [Edwards Hotel] last October…” Now, he wants to give the “blighted building” a “second life” as a “vacation destination” by turning it into a “haunted hotel.” Halbert: “I want it to have that look, especially at night, that makes you turn your head and say, ‘What is that, I gotta go see what that is.’ ” But could anything make the fenced-off, boarded-up place look MORE scary than it does right now? Even Halbert admits that when he first saw it, it gave him “a creepy feeling.” Check it out at AZCentral. http://bit.ly/2H6vwHo

IREM/CCIM Economic Forecast foreshadows good times. The two associations recently held their 11th annual conference “to predict what’s ahead for 2018,” which included the following “special panels” and themes: Industrial: The fourth revolution • Office: Higher rents, lower supply, more demand • Multifamily: Hot, no changes on horizon • Retail: Brick-and-mortar demand remains. David McGlothlin has the event recap at AzBigMedia. http://bit.ly/2Bnk0qJ 

Real estate expert: Regions like Phoenix should stop promoting themselves as low-cost to attract business. “Low costs have long been a calling card for Phoenix as it competes with the more expensive markets such as California and the Pacific Northwest…” But CBRE research head, Spencer Levy, says that “regions such as Phoenix and former East Coast and Midwest industrial cities need to ditch that cheap date mentality.” Levy calls the tout of “less expensive” a “long-term loser.” In PBJ. http://bit.ly/2Elwrlm

Residents sound off on transportation needs near Hunt Highway and Power Road. “[Maricopa County] conducted the event… to help determine the future transportation needs of its residents in an area [that] generally includes Queen Creek to the east, Gilbert on the west and county island to the south.” The residents’ “recommendations”? “Send traffic to Riggs Road. Keep Hunt Highway rural.” OUR recommendation? Tap through for details in Queen Creek Independent. –> http://bit.ly/2nVafsb

County hits 27 property owners near Casa Grande with liens. “Residents of the Indian Hills subdivision have had the liens placed following a dispute over residential sewer service to the area. The liens were all issued last fall, and range from about $800 to a little more than $1,000.” Casa Grande Dispatch. http://bit.ly/2ElkBfb

Steering Committee details new San Tan Valley budget. “The Vote San Tan Valley Steering Committee met with community members of San Tan Heights to discuss incorporation and release additional details on their recently released budget.” The budget committee scaled down costs reported from “neighboring towns” and also from the “county’s budget.” See the estimates the committee came up with in San Tan Valley Sentinel. http://bit.ly/2nUoqha 

Businessman Michael Lafferty running for Phoenix mayor. Saying that he “really feel[s] it’s time to bring an outsider in with real business experience,” the well-known businessman and “longtime Phoenix resident” tells The Arizona Republic that “he is entering the race for the city’s top spot,” adding: “Whoever is mayor is running a $5.2 billion company with a lot of moving parts. That’s where I have an advantage…” http://bit.ly/2Eo5fXz

Cameron’s $5M + deals of the day. Among the MAJOR deals that Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about: This transaction involving the seller DMB Mesa Proving Grounds, LLC and buyer MECP1 MESA 1, LLC. Changing hands? 431.87 acres. Tap through for further details. http://bit.ly/2o2084e 


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Move on to require electric companies to get half their power supply from renewable sources. “Clean Energy for a Healthy Arizona filed paperwork with the Arizona secretary of state on Friday. They hope voters will require electric companies to get half their power supply from renewables by 2030, which would be a significant jump from the existing standard.” AZCentral. http://bit.ly/2G87tX7

Bill puts Arizona on track to end public financing of pro sports stadiums.Arizona Capitol Times reports bills pushed by the conservative Americans for Prosperity are being introduced at state capitols to block money for new stadium construction, maintenance or promotions of existing sports facilities.” http://bit.ly/2HaBd72

Infrastructure rollout: $1.5 trillion. “President Donald Trump’s long-awaited infrastructure plan… could inspire a wave of toll roads, ease decades-old regulations and permanently change cities’ and states’ expectations for assistance from Washington.” However, POLITICO reports that “[s]ome conservative[s]… are already expressing [sticker] shock at [the] price tag, while Democrats say [the federal dollars] would be too little to fill the backlog of crumbling roads, bridges, railroads, tunnels and airports…” http://bit.ly/2BUitJB

More than 100 “dismayed” Democrats intend to run for Legislature this year. “So far, 112 Democrats have told the Arizona Democratic Legislative Campaign Committee, which recruits candidates to run for the state House and state Senate, they intend to run for the state legislature in 2018. That number includes 55 people of color and 51 women.” KEY QUOTE: “A lot of folks believe that our public education system is on the wrong track… They’re saying to themselves enough is enough.” http://bit.ly/2EDUxv0

Volunteers continue signature hunt to bring big cat trophy hunting ban to voters. “SPEAK Tucson is one of many entities in support of the statewide campaign to ban trophy hunting in Arizona. The proposed ballot measure focuses on the protection of five wildcat species including mountain lions, bobcats, jaguars, lynx and ocelots. The goal is to gather a minimum of 150,000 signatures by July.”  But don’t look for any John Hancocks coming from members of Safari Club International. KVOA. http://bit.ly/2EllxQJ

The journey from typewriter to word processor and the Arizona Constitution. PinalCentral contributing columnist, and word processing veteran, Bill Coates, muses on the way writing and reporting has evolved over the course his 40 years in the newspaper biz — and he goes back even further, to 1910, with observations on the composition of Arizona’s Constitution, which was “the first state constitution written on a typewriter.” Read Coates’ entire word-processed piece in Rose Law Group Reporter. http://bit.ly/2sqhgGi

Time to chill out. Taking a cue from what “brilliant physicist, Stephen Hawking… sees as the biggest threat to world survival,” Senior Reporter/Writer Phil Riske says it’s time we all dial things down a notch or two, in Rose Law Group Reporter “Growlery.” http://bit.ly/2G9wPEh

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

Greater Phoenix industrial vacancy drops to lowest level in 10 years Read more

Cameron’s $5M + deals of the day

Image may be NSFW.
Clik here to view.

Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County.

Price: $9.5M
Buyer: HHT Properties, LLC
Seller: American West Quarter Horses, Inc
Property Type: Agricultural
Property Size: 36.45 acres
Location: 14821 East Rio Verde, Scottsdale
APN: 219-39-344, 219-39-345B – 345C
Financing: Cash
To view the affidavit: 180107318, click here.

Price: $5.5M
Buyer: Airpark land, LLC
Seller: PLO Properties, LLC
Property Type: Commercial
Property Size: 117,360 SQFT
Location: 15555 – 15575 North 79th Place, Scottsdale
APN: 215-47-024
Financing: Commercial Financing
To view the affidavit: 180108329, click here.

The Dealmaker: 2/13/2018

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

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CalAtlantic opens two new home collections in Phoenix. “CalAtlantic Homes… has opened for sales at Arbor and Desert Bloom at Western Enclave… two miles from… the University of Phoenix Stadium, Gila River Arena and Westgate Entertainment Center… Homes ranging from 1,742 to 2,607 square feet will start at $247,990.” More press-release details in Builder. http://bit.ly/2EompQC

Eastmark ready to break ground on first apartment complex. “[The Premier at Eastmark] will be located on 8.7 acres at Ellsworth and Ray… PCP Development expects to break ground on [the 216-unit project] in May and open the property in spring 2019.” More in East Valley Tribune. http://bit.ly/2o3USNr

It’s official: CalAtlantic becomes part of Lennar Corp. The deal went through yesterday, “at 11:59 PM ET.” Builder has the midnight merger details, including implications for homebuilding and the upshot for company stockholders. http://bit.ly/2o4O7Lk

MORE CALAT-LENNAR… After Lennar’s $6.5 billion CalAtlantic coup, what next? “Today, home building officially has a new No. 1 company by sales volume, combining the heft of the No. 2 and the No. 5 ranked U.S. builders as a 43,700-home, $17.2 billion enterprise.” But  Builder’s John McManus says “2018 is only just getting going.” http://bit.ly/2sz8yWn

Survey: Home buyers remain mostly unfazed by 5% mortgage rates. “Only 6% would cancel their plans to buy if mortgage rates passed 5%… This represents a modest one-point increase in the portion of buyers who responded this way to a similar survey question in May…” More on these results, plus other findings from the Redfin survey, in Builder. http://bit.ly/2F1Dtx5

Finding hidden profits from change orders. “Throughout his 34-year career in home building, [Dennis Dixon, owner of Dixon Builders in Flagstaff, has] learned the key to finding hidden profits… But it requires having a refined contract that thoroughly explains your change order policies… Last month during the 2018 [IBS], Dixon led an education session called Making Money with Change Orders & Allowances.” NAHBNow passes along some of the “key points” Dixon “shared.” –> http://bit.ly/2EoIqmf

Arizona State pushes back in real estate fight. “ASU has turned to real estate and its land holdings to bring in revenue, finance improvements at Sun Devil Stadium and Wells Fargo Arena as well as foster more research and development activity… But [some of these] real estate deals and ventures… are rubbing some fiscal conservatives the wrong way.” Now, PBJ reports that ASU is pushing back, joined by some “prominent business and real estate groups…” (Subscriber Content) http://bit.ly/2F2ESDe

APS, First Solar plan large West Valley solar power plant with giant battery. “The First Solar plant… will be built near the APS Red Hawk Power Plant on 363rd Avenue in Arlington. The battery [‘about half the size’ of Tesla’s ‘largest’ battery ‘in the world’] will be capable of delivering 50 megawatts of power, enough for 12,500 homes, for three hours.” AZCentral also reports that the “solar panels will have a capacity of 65 megawatts, enough for about 16,250 homes, when sun is shining on the panels.” http://bit.ly/2sz9oCv

Here’s what we know about Phoenix Rising FC’s proposed MLS-style stadium. Cost: “$250 million” and “privately funded.” Location: At the N.W. corner of the 101 and 202 on the Salt River Pima Maricopa Indian Community. And AZCentral knows even MORE about the potential stadium, including info on: Seating capacity, summertime heat issues, and the architecture firms hired to “design the MLS-style stadium.” http://bit.ly/2nWQlgs

Despite an uncertain future, the Coyotes helped transform Glendale. “The Coyotes’ new arena spearheaded one of the West Valley’s most rapidly-growing areas. [After its groundbreaking in 2002, another] major pro sports team and dozens more businesses would follow, bringing thousands of jobs, millions of sales tax dollars and national attention to the city.” In YourValley, Glendale officials reflect on how the arena and the Coyotes (stay or go) have “changed Glendale forever.” http://bit.ly/2EFYf7E

Mesa juggles downtown growth, livability. “Mesa wants to reinvigorate the city’s downtown core by making the area a hub for business and innovation — and do it without displacing the residents who already call it home… Brookings Institution Senior Fellow Jennifer Vey recently outlined what that transformation requires…” East Valley Tribune. http://bit.ly/2F2o53w

Judge gives Tempe ‘squatter’ 30 days to vacate land he claims is his.“[Steve Sussex] has battled the state and the city for more than a decade, claiming he has a right to land that has been part of his family for more than a century. On Monday, a court order ruled [that he has] 30 days to gather his personal property and leave. Anything left behind would be considered abandoned… ’There’s nothing I can do about it anymore’ ” says Sussex. AZCentral. http://bit.ly/2EBq29f

Exciting time’ as Casa Grande breaks ground on rec center after 12 years. “[Casa Grande’s Community Recreation Center] is being built on land donated by the Gilbert family in 2007, on Peart Road between Cottonwood Lane and Kortsen…”  Details, renderings, and shots from the groundbreaking for the “55,000-square-foot facility,” in Casa Grande Dispatchhttp://bit.ly/2CipMXe

[IN-DEPTH] Pinal farmer’s woes illustrate diminishing production in 21-year drought. “As water supplies in Arizona dwindle due to drought, groundwater pumping and a warming climate, farmers increasingly are facing poorer crop yields and, in some cases, resigning once-fertile farmland to unusable barren ground.” Travis Hartman, a “fourth-generation owner and operator of Caywood Farms” in Casa Grande is one of those farmers. Cronkite News. http://bit.ly/2F2iEla

Pollack: Three seemingly unrelated stories. Savings rate decline + Consumer credit increase + Government shutdown compromise = It’s manageable.The Monday Morning Quarterback explains, then delivers this kicker: “At present, financially, the U.S. is the prettiest house on an ugly block.” MMQ also has the latest data for these ‘Snapshots’ –> U.S.: GDP Consensus Forecast, Non-Manufacturing Index, Trade Deficit. AZ: Active Listings – Single Family Home Resale Market – Single Family Median Price. http://bit.ly/2Eo1Is2

Cameron’s $5M + deals of the day – http://bit.ly/2GbO3R8 


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Flake looks to meet Trump in the middle on immigration. “[Arizona Sen. Jeff Flake] will file an immigration amendment as early as Tuesday that mirrors some of the contours of the president’s plan. It will go further than some Democrats would like in tweaks to legal immigration and not as far as some border hawks will prefer, according to a summary provided to POLITICO.” http://bit.ly/2EFTRp0

No Trump endorsement for Ward, Arpaio, reports ‘The New York Times’ but will he endorse anyone? “President Donald Trump may not publicly endorse any candidate in the Arizona race for outgoing Sen. Jeff Flake’s seat in a move that could damage some hopes.” What about Rep. Martha McSally? Will the fighter pilot get a Trump endorsement? This report from KTAR all but says that she is certainly seeking it. http://bit.ly/2BWmMEy

Committee forwards bill to head off minimum wage increase, paid sick leave. “Senate Concurrent Resolution 1016 would not entirely rescind the law… Wages would not go back to the $8.05 an hour… But it would repeal future scheduled increases…” And Capitol Media Services Howard Fischer reports in Arizona Daily Sun: “What it also would do… is eliminate another provision of the 2016 law, which says full-time employees are entitled to at least three days of paid sick leave.” http://bit.ly/2F3jlus

Ducey shoots back at Shooter’s claims of ‘suspicious’ state contracts.’[Rep. Don] Shooter, according to The Arizona Republic, claimed his ousting was ‘politically motivated’ due to what he saw as ‘suspicious’ state contracts awarded to companies with ties to [Gov. Doug] Ducey or other state officials. But in an interview with KTAR News 92.3 FM’s Mac and Gaydos, Ducey said Shooter is an individual ‘with no credibility’…” LISTEN: http://bit.ly/2EpFP7x

Dog opens door. What’s the big deal? A robot dog: Rose Law Group Notable Videoable. From The Guardian: “Ground-breaking robotics engineering and design company Boston Dynamics have released footage of the SpotMini, a dog-like robot that can open doors in the most unsettling manner possible.” WATCH in Rose Law Group Reporter. (Also available for your viewing enjoyment, this RELATED item: “Robot vs football: automatons struggle to perform on the pitch – video.”) http://bit.ly/2Em6imI

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

The Dealmaker: 2/14/2018

 

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

 

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Mark-Taylor gets prime state land parcel near TPC in Scottsdale with $31 million bid. “One of the last parcels inside of the Loop 101 (Pima Freeway) in North Scottsdale that will allow for a major multi-family development has been acquired by a company formed by Mark-Taylor Inc.,” BREW reports. http://bit.ly/2BufTch

TALKIN’ ‘BOUT UMOM –90-unit affordable senior housing development planned in PHX. “UMOM New Day Centers wants to develop a five-acre parcel at the NEC of 7th Street and Southern… The vacant parcel, which lies within the South Mountain Village, must have a height and density zoning waiver in order for the proposed three-story [’93.4KSF’] building to be developed.” Get development and design details, plus view a rendering of the “L-shaped building,” at AZBEX. http://bit.ly/2nZ2rpu

276-unit Broadstone Rio Salado advances in Tempe. “City Council [has] approved plan amendments for Broadstone Rio Salado, [an Alliance Residential Company] development at the SEC of Rio Salado Parkway and the Loop 101… The location has been used for decades as a storage facility for [ASU].” AZBEX also notes that the site is “part of the targeted 101/202 growth area and sits on a potential expansion route for the Tempe streetcar project.” The import of that, plus design element info, along with a rendering of the “12 building” project, in AZBEXhttp://bit.ly/2BqSvN3

360-unit Lyon’s Gate Apartments planned for Gilbert. With “16 residential structures” on “16 net acres,” and located “at the NWC of South Wade Drive and East Williams Field Road,” Lyon’s Gate Apartments will be the “eleventh phase in the 365-acre master-planned development” — IF the Town of Gilbert approves William Lyon Homes’ “minor amendment” request for the project. AZBEX. http://bit.ly/2nWD47J

Flagstaff to buy parcel on Lockett, Fanning for affordable housing.  Arizona Daily Sun reports that the “property has been used for storing materials related to road construction,” but has zoning and topography that would be agreeable to building residential units in the ‘near term.’ Former city councilman Rick Lopez, however, “advised that [officials] seek public input from those living in the area before moving ahead with the purchase, to potentially avoid [another problem like] Schultz Pass.” http://bit.ly/2Brtbq9

Arizona could get another shot at marijuana legalization and it could help the real estate market. “Republican state lawmaker Todd Clodfelter of Tucson… has introduced a ballot referendum [no, not HCR 420, but ‘HCR 2037’] that would ask voters whether they want to legalize marijuana for recreational use.” If ultimately approved, Phoenix could see “commercial real estate space space” filling up with “marijuana-related businesses,” à la Denver. Phoenix Business Journal. http://bit.ly/2EojaIN

Amazon.com fast becoming one of Arizona’s largest employers — and one professor’s picks for HQ2. “Amazon’s current… headcount puts it ahead of the likes of American Express… the Mayo Clinic… and Pinnacle West Capital Corp” [APS’ parent co.].” What about the impact of Amazon’s announcement that it was “cutting ‘several hundred’ jobs”? Find out if it will affect Arizona, and hear from an NYU prof on how the “only criteria that really matters [when it comes to HQ2] is where… the wealthiest man in the world… wants to spend more time” — in PBJ. (Subscriber Content). http://bit.ly/2BZ67jy

GETTING THE LEAD OUT (AND OTHER STUFF, TOO) –State, Cowtown not reached agreement on contamination; rezoning case postponed. “A case to rezone Cowtown in North Peoria has been postponed because an agreement has not been reached between the shooting facility and the Arizona State Land Department, which says their surrounding land has been contaminated with lead from discharged ammunition… Aside from [ammo], the department also says other trespasses onto state trust land have occurred, including roads, fences and shooting targets.”YourValley. http://bit.ly/2EpQRdg

AZ City gets first Habitat for Humanity home. “Christopher Sharp and his son, Matthew… live in an apartment that is infested with roaches, bed bugs, mosquitoes and mites. Along with that, law enforcement is called out to the apartment complex for drug-related calls.” Enter Habitat, which is building a new home for the Sharps “at Mission and Manaco.” And Arizona City Independentreports that the Sharp’s isn’t the “only home” Habitat “hopes to build” in the area. http://bit.ly/2BrxeTn 

Surprise council picks new member: Nancy Hayden appointed to District 2 seat amid concerns. “Surprise City Council voted… to appoint Nancy Hayden to fill the vacant District 2 seat for the rest of the year. But some residents and board members questioned the panel’s motives and methods in selecting Ms. Hayden to take over the seat left vacant when her husband, Councilman Jim Hayden, died in December.”YourValley has the story. http://bit.ly/2Bt7O7L

Magazine names Bisbee as one of America’s best small towns. “It has made lists ranking it as one of the best places to visit, the best hippie town in the state, the best historic town nationwide…” Now, Bisbee has “made Architectural Digest’s cut for one of the top 25 small towns in the country… for its one-of-a-kind architecture” and “artistic spirit.” KTAR. http://bit.ly/2Hc2ZjP

Arizona’s birthday: From climate to fry bread, 125 reasons to love Arizona. “Arizona became a state on February 14, 1912… This list was originally published May 18, 2015, to celebrate 125 years of The Arizona Republic.” And now it’s back, “to help mark Arizona’s 106th birthday!” Oh, and BISBEE made this list as wellhttp://bit.ly/2EtTGy0


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

A tougher tack on parents with drug issues cuts against Arizona’s family-first focus; ‘problematic’ from a legal standpoint, says Kaine Fisher, Rose Law Group Partner, Director of Family Law Department. “[Recently], state policies have pivoted to a more-compassionate approach toward people with addiction issues. But a proposal at the state Legislature… would cut off parental rights more quickly, deny services that might help parents address their addiction… and open a quicker path to adoption.” Commenting on this “hardline approach,” Kaine Fisher says, in part, that while he “can certainly understand and appreciate the rationale for the bill,” it is “problematic from a legal and philosophical standpoint to impose ‘drop-dead’ timeframes when it pertains to deciding whether to sever or restrict a parent’s constitutional right to raise their children.” The rest of Kaine’s comment, along with the report from AZCentral, here: http://bit.ly/2stQMUp

Arizona Supreme Court to decide whether ‘Dreamers’ get in-state tuition.“In a brief order Tuesday, the justices said they want to hear arguments from both the Maricopa County Community College District which has granted in-state tuition [to ‘students in the Deferred Action for Childhood Arrivals program] and [from] Attorney General Mark Brnovich who contends [‘Dreamers’] are not [‘eligible to pay the same reduced tuition as other Arizona residents].” A Capitol Media Services/Howard Fischer report in Arizona Capitol Times. http://bit.ly/2BWUw4s

House passes measure to keep cities from banning ‘dark money.’ “State lawmakers voted Tuesday to… prohibit local government from requiring organizations declared to be tax-exempt by the [IRS] from registering as political action committees, even if they are putting money into races. More to the point, it would preclude any requirement that these so-called ‘dark money’ groups identify donors.” And Howard Fisher reports in Arizona Capitol Times that these aren’t the only restrictions that HB 2153 would place on local governments. –> http://bit.ly/2Bxg1Yu

Fake news and bots may be worrisome, but their political power is overblown. “How easy is it to change people’s votes in an election? The answer… is that most forms of political persuasion seem to have little effect at all. This conclusion may sound jarring at a time when people are concerned about the effects of [fake news].” But as this New York Times’ regular feature “TheUpshot” notes: “It’s very hard to change people’s minds, especially when so many are already committed partisans.” http://bit.ly/2Esm7YP

ASU joins Janet Napolitano’s call for low-carbon future.The group, called the University Climate Change Coalition, or UC3, includes distinguished universities from the United States, Canada and Mexico • UC3 was formed at the request of the University of California system and its president, Janet Napolitano • Arizona State University is part of this new coalition that will help communities achieve their climate goals and accelerate the transition to a low-carbon future. Information from ASU. http://bit.ly/2GcRQxF

These columns might make you dumb. Having come across some info about how “exposure to nonstop negativity actually impairs brain function,” Senior Reporter/Writer Phil Riske has a few helpful tips for any reader who may feel in danger of breaking the ol’ noodle from an overdose of grumpy bombs — in Rose Law Group Reporter. http://bit.ly/2BwcWs0

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

The Dealmaker: 2/15/2018

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

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Two well-known Arizona business names team on new multifamily development. What: Noria, a 237-unit luxury apartment complex • Where: In Chandler, at McQueen and Germann • Who: Robson Communities & P.B. Bell Cos. • More: In this PBJ paywall piece. AZREhttp://bit.ly/2sth494

How the new tax reform act helps multifamily. Douglas Fisher, “an owner of one of the most active real estate investment brokerage firms” in the Windy City, confesses that he’s “not a tax expert by any stretch.” He adds, however, that he “can speak somewhat to the legislation’s tax benefits to, and potential implications for, [his] clientele.” And speak he does, citing changes to “rules governing depreciation,” and “pass-through entities” as “especially beneficial” — in this piece at Multifamily Executive. http://bit.ly/2szFGNq

MINORITY REPORT  Fourth quarter gains in homeownership by race and ethnicity. “[A] recent release from the Census Bureau’s Housing Vacancy and Homeownership… shows that the US homeownership rate increased to 64.2 percent in the fourth quarter of 2017.In addition to this overall result, unpublished tables from the [report] contain a homeownership rate for ‘all minorities,’ which also improved.” Eye On Housing graphs out all the data. http://bit.ly/2o1iOSh

Is market volatility giving buyers cold feet? “Broken out, mortgage applications for home purchases plunged 6 percent last week.” MBA economist Joel Kan says in REALTORMag that this “may be related to short-term stock market jitters.” Kan adds, however: “We still expect activity to pick up…” Indeed they do! Check out the following upbeat headline Image may be NSFW.
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Mortgage Bankers Association predicts sharp increase in new home sales. “[A]pplications for the purchase of newly constructed homes rose 18.4 percent compared to those during the previous January and were up 34 percent from December.” MBA’s VP of Research and Economics, Lynn Fisher: “[W]e estimate that new home sales were running at a pace of 700,000 on a seasonally adjusted annual basis – the highest such estimate in our survey which began in 2013.” MortgageNews Daily via Builder. http://bit.ly/2F4lPIS

Strong January home price growth and declining inventory signal another competitive spring for homebuyers. NATIONAL: “Home prices increased 7.8 percent [YoY]… Sales were down 7.9 percent annually… The number of homes for sale in January dropped by 14.4 percent.’ LOCAL: Get the “market-by-market breakdowns for prices, inventory, new listings and sales” for Phoenix (and other major markets), at Redfinhttp://bit.ly/2F26loF

Thrillist highlights Warehouse District growth, completely neglects to mention rest of years-long downtown Phoenix renewal. Phoenix Business Journal Digital Editor Tim Gallen on how “the Warehouse District’s renewal is an extension of what’s been happening north of Jefferson Street since 2008.” Although technically not an op-ed, Gallen’s  pithy piece has enough sassitude to make it feel like one. http://bit.ly/2EIDE2t

CONJOINED MARRIOTTS – Peoria Planning Commission gives blessing for new hotel, 200 rooms planned for Bell Road corridor. “The two Marriott hotels [a ‘four story Fairfield Inn and Suites and a four story TownePlace Hotel,’ are] proposed for 3.3 acres at the [S.W.] corner of Paradise Lane and 75th Avenue.” YourValley reports that the “two combined buildings on one site… will be connected by a shared lobby and guest reception area.” READ ON: http://bit.ly/2EtiZfg

Queen Creek breaks ground on Ellsworth Road improvements. “The project coordinates the Town’s improvements with four development related projects… [and] will make Ellsworth Road three lanes in both directions…” AZREalso reports that the “project is just one” in an improvement plan that includes “adding 91 new lane miles through 41 projects over the next 10 years.” More on the project, plus a photo of the ground-breaking ceremony, which features, by our count, 22 hard-hatted, dirt-turning officials. http://bit.ly/2sA6Tzs

Liberty Mutual, Wells Fargo bringing thousands of jobs to Chandler.“Liberty Mutual Insurance will move into an office at the Chandler Airpark… Wells Fargo will lease an additional 190,000 square feet of office space along the Price Road corridor.” That is what Chandler Mayor Jay Tibshraeny announced Tuesday night, in what was “likely… his final State of the City address.” More highlights from the mayor’s address — and reaction to it — in a recap at AzBigMediahttp://bit.ly/2BvFp0W

Closed door meeting on water transfer set. “[In] January, the Mohave County Board of Supervisors fired off an eight-page letter to [the Mohave Valley Irrigation and Drainage District] in opposition to [CAP’s ‘decision to move forward with a $34 million purchase of farmland and the associated water rights’ within the district]. In response, the district has scheduled an executive meeting… to consult with its legal counsel.” County Board chairman Gary Watson isn’t “sure what will come of this meeting” — but he does have his hopes, in Kingman Daily Miner. http://bit.ly/2EvBSyw

Dealmaker BONUS: Fried chicken and champagne? Food truck rolls out at Scottsdale Arabian Horse Show, Feb. 15-25. “Fried & Fizzy is a joint venture between Jason Rose and M Culinary • Rose is co-founder of the [Bentley Scottsdale Polo Championship] and president of Rose+Moser+Allyn, a public-relations firm [and not to mention, husband to RLG’s founder and prez, Jordan Rose]. • M Culinary is one of the Valley’s largest caterers, founded by chef and former restaurateur Michael DeMaria (Michael’s at The Citadel, Heirloom).” Colonel Sanders has NOTHIN’ on Fried & Fizzy. Read about it at AZCentral. Cheers! http://bit.ly/2C22pFV 


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

 

Keeping those billions of dollars down on the farm. What’s this? A report on all the royalties earned by Joe Walsh for his song “Down on the Farm”? Or is it about a song of the same name, by Tim McGraw? Or perhaps a piece about a World War I-era song that has “Down on the Farm” in its title? NONE of the above. This is a KTAR report on the kind of economic boost our state gets from the business of agriculture.–> http://bit.ly/2GgbYiJ

Bill to prohibit marriage for teens under 18 watered down. “Arizona is in the majority of states that has no minimum age to wed. Instead, teens aged 16 and 17 can marry with the consent of a parent… A House panel voted Wednesday to restrict the ability of teens younger than 18 to marry… but only after lawmakers created a couple of ways around that… for those 16 and 17.” (Or as our Dealmaker Dept. of Sarcasm calls it: “The age at which most folks are well passed sowing their wild oats.”) A Capitol Media Services/Howard Fischer report, in Arizona Daily Starhttp://bit.ly/2EJcxnK

Bill: Those who would run for U.S. Senate would have to have nomination from state lawmakers. “[The] House Committee on Federalism, Property Rights and Public Policy approved a measure which would give lawmakers the power to nominate Senate candidates. Legislators from each political party would choose two nominees for each open seat…” Another Howard Fischer report, this one in Arizona Capitol Timeshttp://bit.ly/2o1iX8a

THE FIX IS IN? – GOP proposal would restructure Arizona redistricting.HOWEVER: “Critics warn that a plan to alter the membership of a commission responsible for drawing Arizona’s congressional and legislative district maps is designed to fail, Arizona Capitol Times reports.” OTOH, Senate President Steve Yarbrough says the “current system is too easily ‘gamed’ by one party,” resulting in an Independent Redistricting Commission where the chairperson “effectively becomes the redistricting czar.” http://bit.ly/2EwLgWJ

Getting worse before it gets better: DEA agent predicts deepening opioid epidemic. “We have to get past the idea of who’s to blame,” says Phoenix DEA special agent, Doug Coleman, who “was among the law-enforcement and health-care officials who met at the second annual Arizona Opioid Summit to discuss solutions to an epidemic that has led to nearly 900 deaths and 5,810 drug-related overdoses in the state since mid-June…” — Cronkite News. (Also, access this RELATED item from npr: “U.S. Surgeon General Says Working Together Is Key To Combating Opioid Crisis.”) http://bit.ly/2o2cVUS

Giffords goes after politicians after Florida school shooting. “Former Rep. Gabrielle Giffords (D-Ariz.) called on lawmakers to ‘find the courage’ to pass legislation following a deadly school shooting at a Florida high school. Giffords posted a series of tweets after the shooting, saying the accounts of the incident ‘strike fear into all Americans.’ ” THE HILL. http://bit.ly/2EJaK28

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

The Dealmaker: 2/16/2018

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

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Lenders must cancel trustee sales carefully or risk losing the right to repayment. The Arizona Court of Appeals issued a ruling this week regarding Arizona’s statute of limitations on secured financing. Rose Law Group Real Estate Litigation Department Chairman, Adam D. Martinez, looks at the case of Miller Designs v. US Bank, et al. and explains what the court’s ruling means for banks and investors — in Rose Law Group Reporter. http://bit.ly/2EyqbHm

[SLIDESHOW] In Progress: Here’s a look at some of the developments underway around the Phoenix area. Phoenix Business Journal photo editor, Jim Poulin, “visited several projects in various phases of construction” — from NextMetro Communities’ Avila in Deer Valley to Evergreen Development’s Trellis on Bell in Phoenix. Poulin’ pics include captions with a bit of info about each project. http://bit.ly/2svL58s

Putt-Putt too? True Life draws line in the sand. “If Ahwatukee Lakes residents think a judge can force the restoration of the golf course they once had, they should think again. So says The True Life Companies in… [a] bombshell assertion [which] resorts to the same 1992 Covenants, Conditions and Restrictions that the lawyer for residents… successfully used in blocking the developer from putting homes on the defunct 101-acre course.” AFN. http://bit.ly/2EJAWtt

Taylor Morrison again turns to home shoppers for design advice. “When you walk into your home, which interior paint color would you want to gaze at?” Taylor Morrison’s my Model Home ProjectImage may be NSFW.
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is giving everyone an opportunity to answer such design-element questions. The answers “will count as votes, and the most popular items will be built into… model homes currently” under construction in Phoenix and a handful of other cities. Tap to Builder for more on myModel Home ProjectImage may be NSFW.
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along with the link to try it out. http://bit.ly/2F7ZuKl

DR Horton joins Richmond American at Santa Cruz Meadows in Sahuarita. With its purchase of “10 finished lots under a rolling option agreement for 93-lots,” DR Horton joins Richmond American, which “has taken down 22 lots of its 49-lot rolling option at Santa Cruz Meadows.” More on these “rolling option” deals in Sahuarita at Real Estate Daily News. http://bit.ly/2Gk0yKx 

Homebuilders more optimistic over the next six months. While the NAHB/Wells Fargo Housing Market Index for February “was unchanged from January at 72,” HMI’s “most forward-looking component hit a post-recession high.” Regional HMI scores, plus NAHB chief calculator, Robert Dietz, on the increasing demand for housing, in Mortgage News Daily. http://bit.ly/2GjVXbq

Most expensive home sales in Phoenix. Once again, Arizona Foothills Magazine has the “top home sales from the past week (2.5.18 – 2.11.18),” during which combined sales totaled “over $17 million,” a DIP of $3 million from the previous week, and a SLIDE of $9 million from two weeks ago! How crazy is that?! What is going on?! Is it because sellers are accepting lowball offers? Anyway… Among the home features in this installment: A backyard desert oasis, a guest house, disappearing windows, and new owners who seem to have made out like bandits! http://bit.ly/2syGn9I

Two world views collide on stadium, arena subsidies. When it comes to economic issues, “business and tourism groups” and Republicans “often are in lock step.” Such is not the case when it comes to “State Sen. Warren Peterson’s measure [SB 1453],” which would prohibit “public funding and subsidies for professional sports stadiums, ballparks and arenas…” Phoenix Business Journal. http://bit.ly/2C4dKoX

Got ‘sober living’ homes in your neighborhood? Arizona may begin licensing them “[T]he House Health Committee agreed Thursday to have the Arizona Department of Health Services license the facilities that have popped up in the past few years around the state.” Why lawmakers made the “move” and what sort of “oversight” HB 2529 would entail, in this Capitol Media Services/Howard Fischer report at Arizona Daily Starhttp://bit.ly/2o1AeOU

Quick Quack building permits revoked after outcry. (Disclosure: Rose Law Group represents Michael Pollack, who, along with 600+ residents in one mileradius, opposed the car wash.) Last week, Arizona Republic reporter Jerod MacDonald-Evoy covered a three-hour-plus Tempe City Council meeting at which building permits for Quick Quack Car Wash were quashed.” Now, news of this tongue-twisting Tempe turndown is bubbling up elsewhere, including at CarWash.com. –> http://bit.ly/2BzKtBh

County supervisors represent voice for those outside cities. Verde Santa Fe… Rimrock… Oak Creek Canyon… “Although residents of unincorporated areas… are not governed by a local municipal operation, they do still have a voice…” And one of those voices is Randy Garrison. In Red Rocks News, the Yavapai County District 3 Supervisor discusses the “strong representation” available for folks living in these unincorporated areas. http://bit.ly/2FaVcCg

Glendale mid-year budget on track. “Despite reports that show the general fund balance beginning to decline around 2023, staff said they are upbeat about the city’s improved financial issues and expect it to outperform forecasts of any declining stability.” Head to Glendale Star for a closer look at the upbeat update delivered by Budget and Finance during a recent workshop. http://bit.ly/2C2Kyyr


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Feds sue Arizona over rushed absentee voting. “A special election was slated to take place after Rep. Trent Franks, a Republican representing Arizona’s Eighth Congressional District, announced his retirement.” Now, the February 27 election could be delayed because of a Justice Department suit “claiming the state failed to give absentee voters enough time to consider the finalized and official ballot…” Courthouse News Service. http://bit.ly/2o9tG0L

Arizona a breeding ground for deregulation all sorts of professions and jobs. “More than a dozen bills… take aim at various professions… as part of a continued push… to deregulate occupations.” Arizona Capitol Times has a rundown of the bills, including one which The League of Arizona Cities and Towns says is “unnecessary because cities don’t heavily regulate professions now.” That bill, HB 2532, “would prevent cities from requiring licenses or fees for soothsayers, palm readers, phrenologists, buskers, junk dealers and several other businesses.” http://bit.ly/2HlxKmn

Arizona State University president vows to support DACA students.“Arizona State University President Michael Crow told KTAR News 92.3 FM that he has always supported advancing Deferred Action for Childhood Arrivals recipients who have graduated from Arizona high schools onto universities.” Crow to lawmakers: “It just needs to be resolved, and it needs to be resolved in real time.” http://bit.ly/2F8dUuh

Senate president offering ‘gift on a silver platter’ to get Democrats on his School Tuition Organizations bill. “Democrats have balked at what [Senate President Steve Yarbrough, R-Chandler] has called a ‘grand bargain,’ his offer to phase down a 20 percent annual increase of a cap on corporate tax credits for School Tuition Organizations, or STOs — organizations that provide scholarships for students to attend private schools.” Arizona Capitol Times. http://bit.ly/2Ct3jXW

Medical marijuana opponents seek harsh penalties for doctors. In what could be seen as an entirely different sort of “rolling options” story, Capitol Media Services’ Howard Fischer reports that state lawmakers on Thursday voted to “impose prison terms of up to a year for medical professionals who fail to conduct a full medical exam before issuing the required state certification to buy and use the drug.” More on HB 2067 in Arizona Capitol Times. http://bit.ly/2ExQKjO

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more


The Dealmaker: 2/20/2018

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

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Modern homes in Phoenix historic districts causing rift, and now, no one’s happy. “Some believe the new homes should mirror the architecture of the surrounding historic homes. Others say they should feature modern design to separate them from the vintage homes… A recent fight over a new home in the Coronado neighborhood illustrates the broader dispute over how the community should develop.” AZCentral. http://bit.ly/2sHz7IS

Least expensive homes gaining wealth faster than any other. “Since [the market crash], demand for less expensive, entry-level homes has built steadily, causing prices to grow rapidly. As a result, these homeowners have been able to build wealth at a faster pace than owners of more expensive homes.” Findings from this Zillow analysis, including how Phoenix stacks up, at Arizona Daily Independent. http://bit.ly/2C8cr8p

Phoenix ranks 9th most unaffordable city for renters, according to study. • Average Valley renters use more than a week-and-a-half of their monthly pay to afford one-bedroom apartment • Phoenix-area rents still look affordable compared those cities, but it’s also about incomes • Real estate reporter Catherine Reagor gives us her take on this recently released SmartAsset study, at AZCentral. http://bit.ly/2ETDipD

What Phoenix promised Amazon to woo HQ2. “Through a public records request, Phoenix New Times obtained documents that show how Phoenix’s Office of Community and Economic Development sought to win over Amazon using some fairly significant public-sector incentives that appear targeted to the company’s bottom line.” To borrow from Jimmy Fallon’s bit, “First Drafts of Rock”… Arizona has never heard the details of Phoenix’s wooing — until now. http://bit.ly/2Gu0kAD

10 incoming East Valley developments to watch. “The southeast Valley (er, PHX East Valley) is teeming with new developments…” AZCentral has a rundown of the 10 developments that it says “could help reshape the region.” http://bit.ly/2onHrb4

Mesa to consider ASU development in downtown…again. This time with film, gaming programs. “[O]fficials outlined a proposal showing that the first phase of the project could include a five-story building on the [N.W.] corner of Pepper Place and Centennial Way…The agreement signals what could be a significant expansion of the university’s film, media and gaming programs.” Mayor John Giles: “Absent an anchor like ASU, we will continue to tread water in downtown and won’t make any meaningful progress…” AZCentral. http://bit.ly/2EIppf3

Development hasn’t sprung up around Cubs’ Mesa stadium. “While the Cubs’ spring presence has had a positive economic impact on Mesa,” East Vally Tribune reports that “Sloan Park did not produce the development in the surrounding area that Mesa officials envisioned eight years ago.” http://bit.ly/2EGcLwT

Gilbert just growing and growing for foodies. “With an eye toward turning the onetime center of the so-called Hay Capital of the World into a vibrant urban core, town officials looked for opportunities to lure… restaurateurs downtown and a whole line of eateries with different fare began springing up. [N]ew menus keep moving in and sweetening the area for food lovers. And it’s no longer just in downtown…” East Valley Tribune. http://bit.ly/2sIjWyZ

Ottawa University-Arizona breaks ground on new athletics center. “The O’Dell Center for Athletics was made possible from a $6 million donation from alumni Jim and Jeanne O’Dell and is the single largest donation in the school’s 152 years.” View renderings of the facility along with images of Friday’s groundbreaking ceremony in Surprise; plus, see what Jim O’Dell and OU president Kevin Eichner have to say about it, at KTAR. http://bit.ly/2EJxaBi

New 1,200-bed student complex in Flagstaff advances. “The project, called Mill Town, will be geared toward student housing, but will also have 48,400 square feet of retail space, with three freestanding commercial establishments and mixed use commercial area on the bottom floor of the residential building… The project is proposed as part of a series of developments by Phoenix-based Vintage Partners.” Renderings and  details on the Milton Road development, in Arizona Daily Sunhttp://bit.ly/2EFfB5f

Hopis set to get I-40 land; Flagstaff forest parcels go to State Lands. “Talk about the land swap began last year when, at the request of the Hopi Tribe, staff in [Sen. John] McCain’s office began exploring options to transfer to the tribe nearly 150,000 acres of state land south of [I-40] and east of Flagstaff… The acreage had been promised to the tribe under a 1996 agreement approved by Congress to settle a dispute, now more than a century old, involving Hopi and Navajo lands.” Arizona Daily Sun. http://bit.ly/2EDEBWE

Sober living homes: Prescott’s count is down 77%; Prescott Valley is up about 33%; encouraging to see legislature taking interest says Evan Bolick, Rose Law Group Litigator. “[Prescott] has credited its new [sober home] ordinance with helping to get control of the burgeoning problem. Now, the fate of the… ordinance is uncertain as the Arizona Legislature considers a bill that would require registration and regulation of the homes on a statewide basis.” Evan Bolick, who has successfully handled sober-living-home fights for neighbors in various Arizona municipalities, calls it “encouraging to see the State legislature taking an interest in ensuring that they will be run in accordance with certain standards….” More from Evan, plus The Daily Courier’s report, here: http://bit.ly/2o1AeOU

Tech start-up Katerra aims to optimize all aspects of development. “Just as Apple controls everything from design to manufacturing, Katerra [with its ‘1,300 employees,’ including ‘100 architects, plus many more workers at a plant in Phoenix that produces wall panels, trusses, doors, and most other parts of a structure’] basically aims to provide turnkey service from initial sketches to the final punch list.” Multifamily Executive. http://bit.ly/2CzdaLA

$17,000 spent on Tusayan building height measure. “Spending in support of the measure can be traced back to Stilo Development Group USA… Opposition to higher building heights was bankrolled by hotel owner and property manager Clarinda Vail, a longtime critic of Stilo’s projects.” Spending details and a look back at the controversial ballot measure, in Arizona Daily Sun. http://bit.ly/2HySqri

Trans-Canyon Waterline replacement update. “The Arizona chapter of the American Society of Civil Engineers held their February Luncheon [last week] to discuss the Grand Canyon Trans-Canyon Waterline and the plan to replace it rather than fix the existing pipeline.” Get the latest info on the pipeline project in this AZBEX coverage. http://bit.ly/2EGaF0b

Tucson City Council to consider paying for water lines to new employers.“A greened-up proposal for Tucson to foot the tab for water lines to new employers has heightened support for the package from previously skeptical City Council members…. While the earlier proposal would have given developers incentive bonuses for environmentally sound practices, the new package makes such practices mandatory.” Still, one council member “remains opposed.” Arizona Daily Star. http://bit.ly/2CxEJVG

Councilwoman Pace talks photo radar on Paradise Valley streets. With the Arizona House of Representatives having recently passed HB 2208, a “formal measure to prohibit the use of photo radar in Arizona” Paradise Valley Independent “reached out to [PV] Councilwoman Julie Pace to get her perspective… on both photo radar practices and the prospect of a prohibition on photo radar becoming a reality.” http://bit.ly/2EGdyOn

Arizona’s economy is expected to grow this year. Here is what’s driving it. “A stabilizing housing market and population gains will help Arizona’s economy expand faster than the nation’s again this year, though the gap will narrow…” For key findings from the forecast by BMO Capitol, tap to AZCentralhttp://bit.ly/2EJINba

 


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Student group warns against policies, budget cuts that could hurt Arizona solar industry. “Defend Our Future… held a news conference at the state Capitol to raise awareness about… policies they say could damage the solar power industry in Arizona… [Among other things, the] group voiced concerns about a 30 percent tariff on imported solar panels, which the Trump administration imposed earlier this year…” Cronkite News. http://bit.ly/2GuWqHQ

Interstate water storage deals violated state law, former Arizona water chiefs say. “[F]ormer directors, Rita Maguire and Herb Guenther, said recently that they told state auditors the Central Arizona Water Conservation District… overstepped its bounds… by negotiating two rounds of water-storage deals with Southern California’s Metropolitan Water District and a Nevada water agency in the 1990s and a third deal with the Southern California district in 2015.” READ ON at Arizona Daily Starhttp://bit.ly/2BFbbJ2

Arizona competitive when it comes to low taxes. “24/7 Wall Street reviewed the tax burden of residents in each state — the portion of income that goes to state and local governments’ taxes… According to the report, tax burdens in the 2012 tax season were as low as 6.5% in Alaska and as high as 12.7% in New York.” And Arizona? Find out in USA TODAY. http://bit.ly/2GuH9a0

Bill: Counties could raise their own money for roads through sales taxes. “Unable to get the votes to raise the gas tax” (and with Gov. Doug Ducey opposed to any increase) Sen. Bob Worsley, R-Mesa “is settling for allowing counties to raise their own money for road needs. On a voice vote Monday, the Arizona Senate agreed to permit the state’s 13 rural counties, for the first time, to ask their voters to settling for allowing counties to raise their own money for road needs.” More on SB 1147 in this Capitol Media Services/Howard Fischer report at Arizona Daily Starhttp://bit.ly/2CaWHBF

Call it a re-re-redistricting bill. “Senate President Steve Yarbrough tells Arizona Capitol Times he hopes amendments he’s preparing for SCR 1034, which increases the membership of the Independent Redistricting Commission from five to eight, will bring Democrats on board and create truly bipartisan reform.” Read about it in Rose Law Group Reporterhttp://bit.ly/2EVcOUY

Who’s more mature — 18-year-old or 50-year-old legislator? A House panel has approved a measure that, if ultimately approved by voters, would “mean someone as young as 18 could not only run for the Legislature but could even become governor.” Rep. Anthony Kern, who “crafted the measure, says, “if you allow them to drive a tank and give them a gun to go fight overseas, they should be eligible to run for office…’ ” Who could argue with that? Rep. Vince Leach and Rep. Mark Cardenas, that’s who. Find out why, in Howard Fischer’s report at Arizona Capitol Timeshttp://bit.ly/2EHNnab

Despite Parkland, state Democrat doubts Legislature will act. “[The] deadly school shooting in Parkland, Florida… put the national debate about gun control back into the spotlight…. Legislators have introduced several bills this session that would place bans or preventative measures on the sale, distribution, accessibility and storage of firearms… But [state Sen. Sean Bowie, D-Phoenix] remained skeptical much would change in Arizona.” Cronkite News. http://bit.ly/2GrJeDq

How Arizona members of Congress voted. –> “On major issues in the week ending Feb. 16”… SENATEBipartisan Immigration Plan, Trump Immigration Plan, McCain-Coons Immigration Plan, Sanctuary Cities, Immigration Enforcement. HOUSEAmericans With Disabilities Act Lawsuits, Scaling Back Disability Bill, Payday Loans, Usury Laws. Tap to Rose Law Group Reporter for the full Voteramabreakdown. http://bit.ly/2CxL4k6

The agency. With Special Counsel Robert Mueller’s recent charges of Russian meddling, this New York Times Magazine piece by Adrian Chen seems to carry more significance today than when it was published back in 2015. As Chen says: “I went to St. Petersburg to learn more about the agency and its brand of information warfare, which it has aggressively deployed against political opponents at home, Russia’s perceived enemies abroad and, more recently, me.” http://bit.ly/2sJXPs9

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

Cameron’s $5M + deals of the day

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Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County.

Price: $73.2M
Buyer: Tempe Town Lake Partners, LLC
Seller: TDC Tempe Lakeside Real Estate Owner, LLC
Property Type: Apartments
Property Size: 199,983 SQFT
Location: 555 N. College Ave., Tempe
APN: 132-22-018 – 019
Financing: New loan, conventional
To view the affidavit: 180125410, click here.

Price: $58,850,000
Buyer: FPA/WWC Pinnacle Phase I, LLC
Seller: WREF Carlyle Apt, LP c/o WWC Holdings, LLC
Property Type: Apartments
Property Size: 741,865 SQFT
Location: 5151 E. Guadalupe Road, Phoenix
APN: 301-11-932, 301-42-932N
Financing: Assumption of existing loans
To view the affidavit: 180120836, click here.

Price: $19M
Buyer: ADV Glendale Property Owner, LLC
Seller: CH Realty VII-WSP I Phoenix Glendale Self Storage, LLC
Property Type: Commercial
Property Size: 145,508 SQFT
Location: 7910 W. Beardsley Road, Glendale
APN: 200-30-984 – 985
Financing: Cash
To view the affidavit: 180120820, click here.

The Dealmaker: 2/21/2018

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

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Taylor Morrison debuts $200K homes in West Valley. “The Greer Ranch development is opening with 42 homes at Cactus Road and Sarival Avenue in [Surprise].” Tap to this PBJ paywall piece for (a bit) more info on these new homes and Arizona’s entry-level market in general. http://bit.ly/2CA33Gn

Entry-level entrée. Builder’s John McManus on “William Lyon’s acquisition of RSI” and how it “reflects the urgency among builders to activate first-time buyer strategic and operations models as the Millennial moment of truth fullydawns.” http://bit.ly/2Gxay3i

First look inside The Ritz-Carlton Paradise Valley. Five Star Development has “unveiled images of the resort’s common areas, rooms and suites as well as Estate Homes, the 39 multimillion-dollar residences that will be available for purchase this spring.’ Feast your eyes on AZRE’ 16-image slideshow, which includes a rendering of a pool that “will span nearly 400 feet, making it one of the longest resort pools in North America.” http://bit.ly/2ohz2XH

Phoenix sees major rejuvenation ‘between the Sevens.’ The “region between Seventh Avenue and Seventh Street throughout Downtown, Midtown and Uptown” is “becoming an increasingly attractive place to work and play as new commercial real estate projects take shape.” AzBigMedia has images and the rundown for 8 of the latest multifamily, retail, office and hotel projects, including The Curve on Melrose, The Osborn, and The Grid. http://bit.ly/2EHsLPb

Payson learns what makes downtown Phoenix area cool. Hoping to “learn from the experience of other communities,” Payson “is partnering with the Urban Land Institute Arizona District Council, which organized a tour of Valley downtowns that have transformed once-blighted areas. This is part IV in [Payson Roundup’s]series covering that tour.” KEY QUOTE: “Ten years ago, Roosevelt Row looked a lot like Payson does today in some ways… We say that it is so ugly it’s cool again…” http://bit.ly/2Hz61il

U.S. residential market enjoys new home construction gains in 2018. “[A] surge in… multifamily production pushed overall housing starts up 9.7 percent in January 2018 to a seasonally adjusted annual rate of 1.33 million units…” World Property Journal has the regional breakdown, plus NAHB Chairman Randy Noel and Chief Economist Robert Dietz both weigh in on the upbeat data — and so does NAR Chief Economist Lawrence Yun who calls it “terrific news…” http://bit.ly/2BKwGYG

80 years and counting: More storage, please. Step back in time with NAHBNow for a fascinating look at The 1938 Book of Small Houses (Simon and Schuster) which shows that “prospective home buyers in 1938 expressed preferences for many of the same features and amenities favored by today’s home buyers.” Topping the late-30’s home buyers’ “list of pet peeves”: There is “not enough closet space”! (How Twilight-Zoney would it be if the major complaint back then was: “Slow Wi-FI”?) http://bit.ly/2sFWr9M

Camelback Road among the most expensive streets in America. “Camelback Road (within the Camelback Corridor submarket) commands… a 44.9 percent premium compared with the rest of the market.” While the Corridor continues to cater to and “attract [mostly] traditional companies” and “investors,” it is the “next top four most expensive streets in the Valley after Camelback” that are “attracting technology companies en masse.” For a look at all of these streets, plus 10 other “desired offices addresses,” i.e. the “Most Expensive Streets in the U.S.,” head to AZRE. http://bit.ly/2Fkyt6y

Building 6 of The Reserve at San Tan breaks ground. “The Reserve at San Tan, a 50-acre office project located east of Gilbert and Germann roads in Gilbert, broke ground on phase three this week.” AZRE reports that “Building 6 will… consist of two three-story, Class A multi-tenant office properties…” Tap through for further details on this Orsett Properties’ development, and check out a shot of the ceremonial dirt turning, which features a hard-hatted band of local dignitaries, including Gilbert Mayor Jenn Daniels. http://bit.ly/2ogDzK3

Resident input collected at FAA’s Scottsdale meeting. “While historic neighborhoods in Phoenix are excited about the changes the [FAA] has proposed [for ‘westward flight paths out of Sky Harbor], Scottsdale residents are hesitant…” At a recent meeting, Scottsdale residents had the “chance to see the newly proposed paths [and] talk to the FAA about the proposed changes.” But Scottsdale Independentreports that, for at least one attendee, the experience was a bit bumpy. http://bit.ly/2onzm6B

A TWO-PORT STORY – Douglas Council updated on Port Project, Amazon Distribution Center. Last week, the City of Douglas received a post-project update from its consultant, who said in part: “$42 million is slated for the downtown modernization of the existing port — plus $50 or $60 million more… is being sought out for the construction of a new port of entry… “ Douglas Dispatch has more on this “Two-Port Solution,” plus news regarding “ongoing efforts to communicate Douglas’ possibilities as an Amazon Fulfillment distribution center site.” http://bit.ly/2EWdkln

Avondale awarded Gold by Healthy Arizona Worksites program. “The city of Avondale has received [a ‘HAWP prestigious Gold award]’ for efforts that positively impact the health and well-being of Avondale employees, their families and the community by implementing comprehensive worksite wellness strategies.” Gov. Doug Ducey “will be formally recognizing awardees at an event in May.” More about the honor and Avondale’s achievement in West Valley Viewhttp://bit.ly/2CByyzM

Pollack: Few signs of significant issues. Looking deep, The Monday Morning Quarterback sees very little chance of an economic fumble or interception — and then hits us with data for these ‘Snapshots’ –> U.S.: Tax Cut Optimism & the Stock Market, Retail & Food Sales, Manufacturing & Trade (w/ chart), Consumer Price Index & Inflation, Industrial Production, Housing. AZ: Listings & Median Sales Prices – Greater Tucson. http://bit.ly/2EU0LqP

Cameron’s $5M + deals of the day – http://bit.ly/2sJU1XU 


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Growth of AI could boost cybercrime and security threats, report warns; Rose Law Group Cybersecurity, Privacy and Emerging Technologies Chairman, Troy Roberts, comments on how ‘tech leaders have been ringing the AI warning bell for years.’ “Experts say action must be taken to control artificial intelligence tech,” reports The Guardian. Troy Roberts’ view? “This report more clearly identifies the malicious human element, and the resulting threats that AI — like any new technology — poses when in the wrong hands. Now is the time for policy makers to examine AI issues with a calculated and informed approach, while keeping in mind the extraordinary benefits AI has to offer society.” http://bit.ly/2ETvbK2

Arizona leaders say Trump’s infrastructure plan falls short. “The Trump Administration on Feb. 12 published an outline for updating or replacing aging roads, dams, bridges and other critical infrastructure, but the federal investment falls short of what many would like, say several Arizona notables.” Among “Arizona notables” voicing their views to PBJ: ASU transportation & land-use professor David King, and Valley Metro CEO Scott Smith. Read the report in Rose Law Group Reporterhttp://bit.ly/2CByNuG 

Proposed vehicle fee would fund road maintenance. The bill, HB 2166, which passed the House on Tuesday, would “levy a new fee on all vehicles sufficient to finance the $120 million annual cost of operating the Highway Patrol.” So what does funding the Highway Patrol have to do with road maintenance? Find out in this Capitol Media Services/Howard Fischer report in Arizona Daily Sunhttp://bit.ly/2Fn28MI

Arizona Republicans shoot down gun bump stocks ban. Republicans have rejected a Democratic maneuver to force a vote on a proposal banning so-called bump stocks or accessories designed to accelerate the rate of fire of semiautomatic rifles. MORE in Rose Law Group Reporter. (RELATED, from Arizona Capitol Times: “Lawmakers call on Ducey to form task force to prevent school violence”; and from PinalCentral: “Ducey: Don’t expect one governor to come up with a school safety plan”; and “Pinal lawmaker blames video games for school shootings.”) http://bit.ly/2FhJZjb

2 Arizona schools to join national walkout protest of gun violence.“Students from at least two Arizona high schools have indicated they will participate in planned walkouts to pressure legislators to pass gun reform.” Cronkite News also reports that “[o]fficials from Hamilton High School in Chandler and Highland High School in Gilbert did not respond to requests for comments on Monday.” (RELATED, in Rose Law Group Reporter: “Arizona Republicans shoot down gun bump stocks ban” and from POLITICO: “Will the Parkland Kids Change the Gun Debate?”) http://bit.ly/2onUNEk

Trent Franks still a factor in race to replace him. “Republican strategists say the former congressman is still well-liked among GOP voters in Arizona’s 8th District… Franks appeared briefly in an ad for one of the candidates as voters head to the polls next Tuesday in the primary election to replace him… [This] despite the allegations that he repeatedly asked female staffers to carry his child as a surrogate.” (Also from Roll Call: “Candidate for Franks’ Seat Denies Receiving Topless Photos.”) http://bit.ly/2og0F3b

[IN-DEPTH] Adrian Fontes’ fight to fix Maricopa County’s broken election system. “Fontes, a brash, outspoken attorney… took over the top elections job in January 2017… He’d been elected because he’d promised to clean up the office, which had recently become the subject of a Department of Justice investigation and was being sued by multiple groups alleging widespread voter suppression.” A Phoenix New Times’ profile of  Adrian Fontes and some of the “roadblocks” he’s had to face trying to straighten things out as County Recorder. http://bit.ly/2sMWnVE

Americans hit the brakes on self-driving cars. “Self-driving cars are often seen as the next evolution in driving. However, Americans are deeply apprehensive.” That according to “Americans’ Likelihood of Using Self-Driving Cars” (‘from a Northeastern University/Gallup survey of Americans’ attitudes toward artificial intelligence and its effect on their lives and work’). The survey indicates that “[m]orethan half of the U.S. public (54%) says it is not likely to use the vehicles.” Full survey results here: http://bit.ly/2sMokNw

Dear Mr. President: We oppose further uranium mining of our lands. “Navajo Nation Vice President Jonathan Nez joined Arizona State Rep. Eric Descheenie and six other runners on a run to the village of Supai on February 14 to collect handwritten letters from the students of Havasupai Elementary School.” The letters, “addressed to U.S. President Donald Trump,” were written “in response to speculation that he plans to lift a 20-year ban on uranium mining in the greater Grand Canyon region.” Native News Online. http://bit.ly/2on3kri

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

The Dealmaker: 2/22/2018

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

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Ritz-Carlton Paradise Valley breaks new ground seeking Five Star excellence. “My family always had this running dispute of why nothing had been built here, my mother’s theory was it was an Indian burial ground, my father’s theory was they couldn’t get enough money for it — and my theory was we hadn’t gotten the Ritz-Carlton here yet…” That bit of humor from U.S. Rep. David Schweikert, who was among the speakers at the site-dedication festivities for Five Star Development’s Ritz-Carlton Paradise Valley. Other speakers and/or attendees included: Scottsdale City Council members, Paradise Valley Town Council, PV Mayor Michael Collins and Vice Mayor Jerry Bien-Willner.” Full coverage of the event, which many agreed has been “years-in-the-making,” in Paradise Valley Independent. http://bit.ly/2CcjJYV

Marley Park set to expand: Surprise P&Z advances plan for new 776-lot subdivision. “If approved by the council, the new Homestead at Marley Park subdivision… will include 776 new homes lots on roughly 235 acres… located between Waddell Road and Sweetwater Avenue east of Bullard…” Prelim plat details for this Meritage Homes’ project, and a recap of P&Z’s approval, at YourValley. http://bit.ly/2HEwY3W

20 acres in Peoria sold for development of multi-family community.“Christopher Todd Communities has purchased 20 acres… at Happy Valley Rd. and Vistancia Blvd.,” with plans for Hancock Builders to put up “224 rental homes at the site.” RED News also reports that “the seller has an additional 23 acres immediately west of this site, which is currently in sale negotiations that would result in a project that complements the Christopher Todd development.” http://bit.ly/2sIEbN0

Park Place in Tempe moving forward. “The project… is a  proposed mixed-use development comprised of two, five-story buildings that offer 285 dwelling units, along with 9KSF of commercial space… The parcels, which total 4.45 net acres… sit on either side of Terrance Road at Apache…” KEY FEATURE of this Park7 Group development: “A pedestrian bridge connects the buildings at the fourth floors and runs over Terrace Road.” Rendering and further details at AZBEX. http://bit.ly/2CBKJgi

Habitat Metro plans second apartment project in downtown Mesa. “[Renderings] show a five-story apartment building with space for commercial businesses on the ground floor, along with parking. [Habitat Metro] wants at least 70 market-rate, luxury apartments within the building and 5,000 square feet of commercial space [and] has its eye on a city-owned parking lot on West Pepper Place.” AZCentral also reports on Habitat Metro’s other plans to “bring a 15-story apartment and hotel” to downtown Mesa. http://bit.ly/2GE6uyr

Existing home sales decline, inventory still a big issue. January’s sales pace was “the slowest since last September and the largest annual loss since a 5.5 percent decline in August 2014.” Mortgage News Daily has all the data, plus NAR president Elizabeth Mendenhall and association chief economist Lawrence Yun each weigh in on the “unexpected” negative report. http://bit.ly/2sLAPJ4

Fake news: ‘We can’t build for entry-level home buyers.’ “As existing home inventory reaches crisis level lows, new home builders rev their lower-price-tier engines.” Builder’s John McManus on why “new home building at the lower part of the price spectrum is more important this year than it has been in a long time.” http://bit.ly/2EJFNrm

New budget law includes last-minute tax relief for millions of homeowners. “Deep inside the behemoth 654-page bipartisan budget bill recently signed into law by President Trump are little-noticed extensions of key tax-code benefits that expired in 2016 but now can be used for upcoming 2017 tax filings.” TheWashington Post is calling it a “buried treasure for homeowners.” –> http://bit.ly/2GBV7Xy

Technologies are changing the future of buildingAzBigMedia takes a look at how “technologies such as building information modeling (BIM)” and “virtual reality (VR)” continue to “transform the way projects are designed, built and experienced,” and how one “nationally-ranked commercial contractor” in particular is putting these cutting-edge technologies to use. http://bit.ly/2BJeNtl

How much could SkyBridge impact PHX East Valley? “As proposed plans for the SkyBridge expansion at Phoenix-Mesa Gateway Airport make their way to the airport authority board in March, local business and political leaders are optimistic cargo could become a big business in the Southeast Valley.” AzBigMedia. http://bit.ly/2BLsckU

Cactus League brings windfall to East Valley. “The Cactus League long has had a significant economic impact on the East Valley — home to three spring training stadiums in Mesa and Tempe. Even Chandler and Gilbert see significant tax revenue spikes during the spring baseball season.” But as East Valley Tribune makes clear in this report, it’s Mesa that has long reigned supreme as revenue-generating “king of the Cactus League.” http://bit.ly/2CFG0KA

Milwaukee Brewers unveil details of Maryvale Baseball Park renovation, expansion. • New entry plaza • New clubhouse building • New agility field. Those are among the changes that the “Brewers revealed Wednesday.” Check out the 12-image SLIDESHOW and get details on the estimated $60 million major-league makeover, in Milwaukee Business Journal (via PBJ). http://bit.ly/2BLszvO

House named Pinal supervisors chairman, wants to cut taxes. For the second time in three years, “Todd House is the new chairman of the Pinal County Board of Supervisors.” (‘He was also chairman in 2015.’) The two main goals for chairman House in this second go-round? Ensuring funding for public safety and returning money to taxpayers. San Tan Valley Sentinel. http://bit.ly/2opM4lb


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

300 Mesa High students, others walk out in support of stricter gun control. “At noon Wednesday, 300 students streamed out of their classes, met at a flagpole and walked half a mile to a nearby park to rally in support of stricter gun control in the wake of last week’s Parkland, Florida, high school shooting… Gilbert High School students also walked out Wednesday, and students at schools in Chandler, Tempe and Phoenix plan similar protests…” (RELATED, also from Cronkite News: “Gun control bills stall in Arizona Legislature.”AZCentral:“Scottsdale police: Teen arrested after posting threat against school online.” KTAR: “Thousands to march on Arizona’s capitol in response to Florida shooting” and “ASU professor: Close schools to force gun control action in Congress.”) http://bit.ly/2EVcRjF

Revenge porn? New details about topless photo sent to Steve Montenegro. “News broke on Tuesday that [a] woman staffer had exchanged flirtatious texts with [the GOP congressional candidate] late last year, and that she also sent him a topless photo of herself.” Phoenix New Times has the latest developments on a “scandal” which “threatens to alter the race for the congressional seat vacated by Trent Franks.” http://bit.ly/2oqgpQG

Expelled legislator Shooter plans to sue the state. Former state lawmaker Don Shooter, “who was expelled from the State House after an investigation found he sexually harassed several women and created a hostile workplace, now claims he has knowledge of scandal and corruption in the Governor’s Office…” Shooter’s “explosive claims” are outlined in an “85-page ‘Black Binder.’ ” Details on the contents of the Black Binder and reactions to the allegations contained within, in this Fox 10 VIDEO report. http://bit.ly/2ENDU0T

Capital gains tax break passes House. “Got stocks, land or similar investments? The state House voted 35-25 Wednesday to give you a tax break when you sell those items. But how much you will pocket depends, quite frankly, on how much you make.” Capitol Media Services’ Howard Fischer breaks down the numbers in Arizona Capitol Times. http://bit.ly/2ELmzll  

Securing Arizona’s water future. This NEWS RELEASE from the Governor’s Office serves as an intro to a “detailed policy primer” of a plan that would, ultimately, “contribute to higher Lake Mead elevations, reducing the likelihood of a shortage and protecting the State from the economic consequences of water delivery reductions.” In Rose Law Group Reporter. http://bit.ly/2ofDmXt

The crown jewel of golf no longer has a Tiger in its tank. Viewership of televised golf has decreased, and Senior Reporter/Writer Phil Riske nails it as to why. But Phil’s observations and words of wisdom in this piece for Rose Law Group Reporter  “Growlery” may just be enough to bring some “fair-weather golf fans” back into the viewership fold. http://bit.ly/2F0AabQ

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

The Dealmaker: 2/23/2018

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

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Rose Law Group names Troy Roberts as Chairman of Cybersecurity, Privacy and Emerging Technologies. Troy Roberts brings expertise in drone and privacy laws to the department, and his hiring comes as new drone bills hit the State Capital for debate. Here is some of what Rose Law Group Founder and President Jordan Rose has to say on bringing Troy aboard: “Troy’s experience and his extensive list of academic and legal publications on drone law and privacy is a huge asset to the firm and our clients.” Much more on Troy in Rose Law Group Reporter. http://bit.ly/2Fqnskt

New housing developments to add nearly 300 homes to Glendale. Here are the companies along with the number of homes each is putting up: Hillstone Homes, 53 • Garrett Walker Homes, 142 • LMK Investments LLC, 53 • Los Olivos Office Partners LLC, 51. Development name, location, and an overview of each in TheGlendale Star. http://bit.ly/2GDupxU  

Construction begins on The Westin Tempe. “Developed by Las Vegas-based CAI Investments, the 18-story [290-room] Westin Tempe [on Seventh between Mill and Myrtle] will be a full-service business hotel.” Tap through for further details, including why AZRE says the hotel is “poised to set a new standard for well-being in the region.” http://bit.ly/2ENQ0ak

Builder putting up new homes in Arizona City. The builder is Morgan Taylor Homes, the “first company” to build new homes in Arizona City “since the recession.” View an image of one of these new homes (‘located at 11404 W. Loma Vista Drive”) — and learn a little more about what Steve Cross of Morgan Taylor Homes says are homes that “provide quality affordable alternative to the big builders” — at Arizona City Independent. http://bit.ly/2F0igpp

First Place AZ will help develop more housing for adults with autism. “[T]he Foundation for Senior Living [‘in collaboration with First Place AZ’] will work with triARC Architecture & Design to develop 19 affordable, intergenerational units and six units for young adults with autism to live independently.” For more on what’s planned for this residential community,  “at 21st and Missouri avenues in Phoenix,’ head to AZ Business Magazine. http://bit.ly/2os5XYU

Most expensive home sales in Phoenix. Arizona Foothills Magazine has the “top home sales from the past week (2.12.18 – 2.18.18 ),” during which combined sales totaled “over $20 million,” an UPTICK of $3 million from the previous week. Among the home features included (and not included) in this installment: Coffered ceilings, five fireplaces, marble flooring, and stunning collection of paintings by French post-Impressionist Paul Gauguin, including one titled “Study of Nude.” (Or could it just be blowup photo from the phone of Steve Montenegro?) http://bit.ly/2CiobFm

THE PRICE IS RIGHT – 10 most accurate home price forecasts for metros. “According to CoreLogic’s latest House Price Index (HPI) Validation Report released on Thursday, the company’s national HPI forecast for 2017 came within 1.7 percent of the actual increase in HPI over a 12-month period ending in November 2017.” See how PHOENIX-MESA-SCOTTSDALE fared “in terms of accurately predicted HPI forecasts” and access the full CoreLogic report at DSNews. http://bit.ly/2osFJFH

Putting Peoria on the business map: City is site-selection finalist for two large companies. “[A] Fortune 100 manufacturing operation has set its sights on the Vistancia commercial core in North Peoria proposing about 500,000 [sq. ft.] and 2,500 jobs in the first phase, then 3 million [sq. ft.] and 5,000 jobs at build-out… [The] second project is a large advance business services company targeted for the P83 area proposing 300,000 [sq. ft.] and 2,500 jobs.” So who are these companies? While Economic Development Director Scott Whyte isn’t revealing, “he did say Peoria has never been a finalist in site-selections of this magnitude.” YourValley. http://bit.ly/2EXpFWL 

Jim Rounds: Responsibility key to economic growth. “[Economist Jim Rounds] was the keynote speaker at [WESTMARC’s annual board of directors] meeting that brought together business owners, council members and school board directors to discuss potential West Valley growth.” KEY QUOTE: “We’re going to see a larger share of growth occur in the West Valley, but… [j]ust because an organization forecasts this, it doesn’t mean it’s going to happen unless you have proper planning.” West Valley View. http://bit.ly/2HI9kni

Pinal Alliance panel discusses economy, prospects. “Pinal County is primed for growth.” That was the main message delivered by economic development leaders at a recent gathering of “members of the Pinal Alliance for Economic Growth.” The panel — which included “[e]conomic development specialists” Keith Watkins, Susan Dumon and Chris Camacho — stressed that “Pinal County communities should be ready for site selectors long before representatives from major companies get to town.” Casa Grande Dispatch. http://bit.ly/2GDvequ

Mesa uses interactive technology to boost economic development. “AerialMesa.com, a web-based virtual reality tool, uses interactive technology to allow users to explore each of Mesa’s business district’s major assets and employers, new developments and investments, key amenities and development opportunities.” Dealmaker checked it out — very cool! Learn more and give it a try via AZ Business Magazinehttp://bit.ly/2sP1ZPw

Bill to limit public funding for sports stadiums appears to be dead. “The bill, SB 1453, [which] would potentially impact public money for new or renovated arenas” for the Coyotes… Suns… Diamondbacks and all Cactus League spring training ballparks and any future improvements, or a new stadium for the [NFL] Cardinals… now appears to have failed.” Should you hear any “HIP HIP HOORAYS!” today, they’re likely coming from “business and tourism groups,” thrilled over the bill’s demise. The Glendale Star. http://bit.ly/2CflMeC

Glendale Council prepares for airport expansion. “As Glendale continues to discuss added revenue to its transportation plan after cancelling light rail, one item gaining momentum is the development of the east side of Glendale Municipal Airport. Council gave consensus to move forward with updating the final draft of the Airport Layout Plan Narrative Report.” Councilmember Joyce Clark: “Our movement on the development on the east side of the airport helps us accomplish our goal of development of the area.” The Glendale Star. http://bit.ly/2ERtOYZ

City of Maricopa accepting bids for development of Copper Sky commercial site. –> Along SR 347, adjacent to Copper Sky Recreational Center. According to a MaricopaMatters presser, “The vision is to transform the 18 acreproperty into a high quality mixed-use destination that compliments the Copper Sky Recreation Complex and delivers significant social and economic impact on the community.” More info here: http://bit.ly/2BO1tnt

A WASTE OF ENERGY? – Biogas company wants to build plant in Florence. “Town staff plan to begin negotiating a development agreement with Alkeme LLC and associated parties for development of a biogas operation. Town Manager Brent Billingsley told the City Council at its meeting this week that the company wants to use material from the town’s wastewater treatment plants ‘for a positive purpose.’ ”Florence Reminder. http://bit.ly/2sSTGlQ

The AZBEX Year in Review roundup. Well, 2018 sure zipped by awfully fast, didn’t it? Actually, this is just a very late (relatively speaking) 2017 retrospective, the result of “a couple technical issues.” According to the EDITOR’S NOTE, this “story was intended to run last Friday…” It includes readers’ “favorite pieces” — “stories from each month since Issue One of the past year.” http://bit.ly/2GEEwm2


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

 

MONTENEGRO, LOVAS & MORE – Montenegro admits to sexy texts in ‘Washington Examiner’ interview. But in Washington Examiner Montenegro says he never solicited the photo,” and “accuses his opponents of sabotaging his political career with ‘revenge porn.’ ”(RELATED, from Arizona Capitol Times: “Lesko threatens CD8 rival Lovas with litigation.” And from AZCentral: “Congressional District 8 voters, ignore your ballot’s instructions — don’t vote for 2 people.”) http://bit.ly/2HGEHyL

ALARMING NEWS – Arizona universities not among the safest.“[Alarms.org] compiled the list of 2018’s Safest College Campuses in the U.S “using the most recent data from the FBI’s Uniform Crime Reporting and the Campus Safety Security Survey…” Get the state-by-state school rankings and see which university ranked “least safe” in Arizona, at ADI.  (RELATED, also from ADI: Diane Douglas: “If Kids Aren’t Safe In Our Schools No Learning Is Going To Happen” http://bit.ly/2ELfLYM

Attorney General asks court to halt Scottsdale school construction over procurement violations. “The Arizona Attorney General’s office filed a civil injunction Thursday against Scottsdale Unified School District seeking to prevent further construction on Hohokam and Cheyenne elementary schools, following multiple investigations into possible procurement and conflict of interest violations that have roiled the district’s administration.” Arizona Center for Investigative Reporting. http://bit.ly/2Fsu29O

Big money already at play in newly filed clean-energy initiative. “The Clean Energy for a Healthy Arizona campaign, backed by California Democratic billionaire Tom Steyer… seeks to amend the Arizona Constitution to put in place a requirement for 50 percent of energy that large utilities use to come from renewable sources by 2030.” But as Arizona Capitol Times reports, “the state’s largest utility wasted no time in spending money to discredit [the] ballot measure.” (RELATED, from Cronkite News: “Gallego, Latino community promotes Clean Power Plan.” Also, from AZCentral: “APS customers will see lower bills starting in March, thanks to Donald Trump’s tax plan.” http://bit.ly/2BJQdbX

Arizona bill dictates embryos go to parent most likely to use them. “Saying parents who want children deserve that right, state senators voted Thursday to require that frozen embryos be given to the parent who will use them, even if the other parent objects. SB 1393 would strip judges handling divorce cases of their right to decide who gets the embryos. It also would overrule contracts that couples signed in happier days where they agreed what would happen to the embryos in case of divorce.” By Capitol Media Services/Howard Fischer in Arizona Daily Sun. http://bit.ly/2BK5sS2

Remaining faithful in marriage and grocery shopping. Senior Reporter/Writer Phil Riske’s trip to the local market he faithfully frequents, turns his world upside down, totally FREAKING HIM OUT. Find out why, in his funny piece at Rose Law Group Reporter. http://bit.ly/2F2t9Hi

House OK’s resolution to amend minimum wage law. “On a 35-25 party-line vote, the Republican-controlled House of Representatives decided Wednesday to ask voters to eliminate a provision in the voter-approved law, which spells out that if an employer takes action against a worker within 90 days of a complaint, it is presumed that the action is illegal retaliation.” By Howard Fischer in Arizona Daily Sun. http://bit.ly/2BMq8ca

Rash of GOP bills seek to empower lawmakers, disempower voters.“Arizona is no stranger to bills that are criticized as a power struggle between lawmakers and voters, but… this year’s wave of legislation is unprecedented.” Arizona Capitol Times. (RELATED, in Arizona Daily Sun: “Arizona Supreme Court broadens what citizen ballot issues may propose.”) http://bit.ly/2BKzqpc

Arizona Supreme Court broadens what citizen ballot issues may propose.“Without dissent, the justices ruled that state laws that limit legislation to a single subject do not apply when the proposal comes from voters. That means initiative backers are free to propose new statutes with a full garden of ideas in a single measure, even if they are unrelated.” Howard Fischer reports the ruling “pave[s] the way for more wide-ranging citizen initiatives — assuming the proponents can get their issues on the ballot.” In Arizona Daily Sun. http://bit.ly/2GFOyDv

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

The Dealmaker: 2/26/2018

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

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Ironwood Crossing annexation slated on Queen Creek Town Council agenda. (Disclosure: Rose Law Group represents Fulton Homes at Ironwood Crossing.) “Town Council unanimously approved [three] business agreements that take it one step closer to annexing the Ironwood Crossing residential subdivision.” The agreement with Fulton Homes “allows the town to annex about 601 residential lots.” Details on the agreements and why “final approval can come none too soon for [some] Ironwood Crossing residents,” in Queen Creek Independent. http://bit.ly/2EV1m8l

Grand opening: White Horse by Camelot Homes. “The gated community is located off Pima Road and Los Gatos Drive, adjacent to DC Ranch.” Arizona Foothills Magazine reports that “[t]hirteen of the community’s 50 half-acre lots — to be built in two phases — have already been sold.” Tap through for images and a rundown. http://bit.ly/2EW2R6y

Phoenix’s Chateau on Central urban mansions get new name, lower prices. “Moins Cher on Central” is NOT the new name of the “21-urban home development” but it might as well be, as “prices for the 12 brownstones that haven’t sold yet will fall to the $900,000s.” That is WAY DOWN from the “$2.5 million” that a “couple of the mansions, across from the Phoenix Art Museum” were “listed for last year.” More on the changes for the development, which is now being called The Arris, at AZCentral. http://bit.ly/2ESuiOn

Valor on Eighth offers affordable housing for veteran families. • Valor on Eighth in Tempe is the first of its kind affordable housing project in Arizona that will provide housing for veteran families with children • The 50-unit mixed-income rental community includes five live-work units on the ground floor and 45 multifamily units • The City of Tempe approved the contribution of the land to develop the community • Further details and rendering at AZREhttp://bit.ly/2oxY6sT

It’s selling season. Is your home in the best price range, neighborhood to benefit? “Metro Phoenix’s home buying and selling season is in full swing. And because there aren’t enough houses listed for sale, prices are expected to rise in some Valley neighborhoods…” A Catherine Reagor/AZCentral report featuring an Open door SLIDESHOW of “Phoenix-area homes for sale.” http://bit.ly/2ox4Gj2

Flagstaff home values on the rise — but unevenly. “[N]eighborhoods with properties priced below $300,000… are appreciating in value the fastest. On the other hand, larger houses in neighborhoods with home values above $500,000 are retaining their value. But with fewer sales and lower demand, values are increasing more slowly.” Arizona Daily Sun. http://bit.ly/2HPCXmu

Industry vets saw void in land development — and filled it. “[After the recession,] when the market began to pick back up, [Mike Koch and Sean Cooney] noticed that there weren’t many companies developing lots.” So in 2015, they launched “Suncrest Real Estate & Land.” Since then, the company “has acquired six projects and is now managing the development of roughly 2,000 lots in four markets” — including Phoenix — and “has partnerships with… D.R. Horton, Pulte Group, and M/I Homes.” Builder. http://bit.ly/2CJDiUa 

State of the Town: Growth continues to drive projects in Queen Creek.“Mayor Gail Barney led his fellow town council members in thanking the community for their role in supporting the recent accomplishments of the municipality. About 100 people attended the address to hear specifics about the milestones the town achieved last year as well as to peek into projects and events planned for 2018.” Coverage in Queen Creek Independent. http://bit.ly/2sXSBZU

New shopping center coming to central Tucson. “University Commons at Feldmans will be located on the [N.E.] corner of Speedway and Sixth Avenue and feature 10,000 square feet of retail and restaurant space. Two tenants… have already signed leases for space in the future center.” Find out who those tenants are, plus view a rendering and get a construction timetable for this DSW Commercial Real Estate development, at Arizona Daily Starhttp://bit.ly/2sXDj7w

Planned high-rise on Tucson’s Fourth Avenue pits nostalgia against redevelopment. “It’s a tale as old as Tucson: Developers see economic potential. Some residents see destruction.” The developer in this case is Memphis-based EdR, which Arizona Daily Star reports “is planning to build a multilevel apartment complex on Fourth Avenue between Sixth and Seventh streets called The Union on Sixth.” But some area residents would rather “keep ‘Fourth Avenue weird and wonderful.’ ” http://bit.ly/2GOs8jB

13 office construction mistakes to avoid. <—From a guide “for office managers and executives,” compiled by “Adam Felson, director of officemorphs, a San Francisco-based project management firm that oversees commercial real estate improvements, office build-outs and office re-designs.” At AzBigMedia. http://bit.ly/2EV7vRX

Spring Training is the philanthropic backbone of the Scottsdale Charro endeavor. “For 57 years the Scottsdale Charros have been in constant pursuit of improving the lives of Scottsdale residents while preserving the community’s ties to its western heritage.” Scottsdale Independent chats with Charros’ Executive Director Dennis Robbins about Spring Training as well as Scottsdale Stadium renovations, “to better understand the positive effect they will have on the community.” http://bit.ly/2BPlev7

A brief history of the 100-year-old Tempe squatter case. “[A]round 1890… Jesus Martinez purchased an adobe home near the Salt River in Tempe… Martinez thought he owned the land; the federal government said it belonged to Arizona. But for almost a century, it wasn’t a problem.” Then came Tempe Town Lake. “As development approached, the city of Tempe decided” that the “dirt lot” occupied by Steve Sussex, “the great-grandson of Martinez” was “worth fighting over.” The story at AZCentral. http://bit.ly/2sXnIEP

Norgaard, DiCiccio still pressing freeway issues. “State Rep. Jill Norgaard and city Councilman Sal DiCiccio are continuing to meet with South Mountain Freeway planners on a variety of issues that include the possibility of an interchange at 32nd Street… But DiCiccio said that even if ADOT concludes a full interchange is doable, agency officials have told him they’ll shelve the plan if it looks like it could prompt another lawsuit.” AFN. http://bit.ly/2HO2D2X

Pollack’s generosity to shine once again. (Disclosure: Rose Law Group represents Michael Pollack in various capacities.) “East Valley developer/entrepreneur Michael A. Pollack [was] invited to oversee the Assistance League of the East Valley’s Mardi Gras Night’s festivities… For Pollack, it [was] another addition to an impressive history of the contributions [that] he has made over the years to the Assistance League’s community-wide support of Operation School Bell and others in need.” Wrangler News. http://bit.ly/2otrWiO

Hyatt Place Page/Lake Powell will opening in April. The “newly constructed, three-story, 102-room select service property overlooking Lake Powell… set to open in early April of 2018.” More on the hotel and a rundown of its offerings in AzBigMedia. http://bit.ly/2FxRhQ7


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

[BREAKING] Supreme Court snubs Trump, keeps DACA immigration program in place for now. “The Supreme Court refused Monday to review a federal judge’s order that the Trump administration continue [DACA] a program protecting undocumented immigrants brought to the United States as children.” USA TODAY. http://bit.ly/2GIeIFF

[OPINION] Supreme Court set to establish major precedent in email privacy. “Whether law enforcement officials can compel providers to turn over [data ‘stored on servers located outside the United States’] is the subject of both an important Supreme Court case — U.S. v. Microsoft — being argued Feb. 27 and critical legislation — the Clarifying Lawful Overseas Use of Data or CLOUD Act — introduced in Congress this month…” By Curt Levey, president of Committee for Justice, in The Hill. http://bit.ly/2F9tKHs

Arizona Republicans inject schools of conservative thought into state universities. “Around the country, Republican legislatures have been taking a greater interest in the affairs of their state universities to counteract what they see as excessive liberalism on campus, from quarrels over conservative speakers to national anthem protests to the very substance of what students are taught. In Arizona, the Legislature has taken a direct role…” The New York Times. http://bit.ly/2sSVwmo

Legislature punts funding limits for professional sports stadiums. A KTAR follow-up on a Glendale Star report which Dealmaker mentioned Friday, regarding the failure of a bill “sponsored by Sen. Warren Peterson (R-Gilbert)” that “would have limited public funding for professional sports stadiums, ballparks andarenas.” http://bit.ly/2sXdaFR

House Speaker wants voters to revisit Prop 206 to level field between employers, workers. File this one ALSO under “In Case You Missed It in Friday’s Dealmaker.” —> “On a 35-25 party-line vote, the Republican-controlled House of Representatives decided Wednesday to ask voters to eliminate a provision in the voter-approved law, which spells out that if an employer takes action against a worker within 90 days of a complaint, it is presumed that the action is illegal retaliation.” A Capitol Media Services/Howard Fischer report, this time in The Daily Courier. http://bit.ly/2EWwULg

Honk, honk: It’s a rough haul when it comes to commuting to work in Arizona. “According to a recent study from [of all places!] BestMattress-Brand.org, Arizona ranked as the eighteenth-worst state in the nation for average commute time.” Find out how long it takes Arizonan’s “to get to and from work,” and access the full don’t-fall-asleep-at-the-wheel study, at KTAR. http://bit.ly/2EVbpKL

No, it’s not just you, everybody is exhausted. And no, it’s not getting better. “The chaos of life and its collision with technology and tragedy has more of us feeling drained, frazzled and emotionally overrun.” USA TODAY looks at “why we’re all so stressed out and what we can do about it.” http://bit.ly/2BQyLTa

[COMMENTARY] Need emotional support? That’s Ruff. Bert Stratton is the uncle of Jordan Rose and Court Rich. He’s also an occasional contributor to the New York Times, the Times of Israel, the Cleveland Plain Dealer and City Journal — and the Wall Street Journal. AND he’s a “landlord in Cleveland with a no-dogs policy.” One of his pet peeves? Renters with emotional support animals. http://bit.ly/2t1NSXa

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Trophy High Rise in Phoenix’s Central Corridor Sells for $80.7 Million Read more

William Ryan Homes opens sixth neighborhood In Goodyear’s Estrella By Newland Communities Read more

Cameron’s $5M + deals of the day

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Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County.

Price: $35M
Buyer: Living Spaces Furniture, LLC
Seller: Estrella Vista Distribution Center I, LLC
Property Type: Commercial
Property Size: 1,011,119 SQFT
Location: 6600 W. Latham Street, Phoenix
APN: 103-23-176
Financing: Cash
To view the affidavit: 180142411, click here.

Price: $22.1M
Buyer: 7047 Scottsdale Office, LLC c/o Starwood Property Trust, Inc.  
Seller: JPMCC 2007-CIBC19 East Greenway, LLC c/o LNR Partners
Property Type: Commercial
Property Size: 1,011,119 SQFT
Location: 7047 East Greenway Parkway, Scottsdale
APN: 215-58-043
Financing: Cash
To view the affidavit: 180143822, click here


The Dealmaker: 2/27/2018

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

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Zombies rumbling back to life in DWTN PHX. “Two projects [200 W. Monroe St. and Block 24—Residence at Collier Center] that languished at death’s doorstep for years have rumbled back to life, carrying on a pace of downtown development activity that is anything but apocalyptic.” AZBEX. http://bit.ly/2GOTp5c

Van Buren land sold for housing. “Cardinal Capital bought the [‘1.65-acre site on Van Buren and 29th streets ] from CKC Corp… The land was home to an old hotel, which has been demolished.” Deal and development generalities available in this PBJpaywall piece. http://bit.ly/2t84Rar

Fancy living: Scottsdale ranked among top five cities for luxury homes. <— That according to “a recent report from Coldwell-Banker,” which found that “the median monthly inventory list price for single-family homes in the area was $2.2 million, while condos will run closer to $663,000. However, those luxury homes often stay on the market for a while…” See exactly how long, plus access the complete Coldwell-Banker report at KTAR. http://bit.ly/2BTND37

Single-family home sales start 2018 lower. “[S]ales of new single-family homes fell by 7.8 percent over the month of January.” It is “the second consecutive decrease in new home sales” and one which “coincides with an increase in interest rates.” Data charted and graphed, plus info on what a correlation between decreased home sales and increased interest rates may mean — in Eye On Housing. http://bit.ly/2HM6uxv

SmartAsset names the healthiest housing markets for 2018. In finding “the healthiest housing markets in the country,” SmartAsset “considered the following four factors: stability, affordability, fluidity and risk of loss.” Check out the heat-map results for Arizona, in SmartAsset via Builder. http://bit.ly/2EXduWB

8 hot markets for millennials, Gen X, boomers. “Millennial Meccas, Gen X Hot Spots, and Boomer Boomtowns… Realtor.com® found the hottest locations for each age cohort” — and PHOENIX is on fire when it comes to one of these demos. Find out which one in REALTORMag. http://bit.ly/2orLcgL

2018’s Property Taxes by State. “[W]hich states have the largest property tax load, and what should residents keep in mind when it comes to meeting and minimizing their tax obligations? In search of answers, [WalletHub] analyzed the 50 states and the District of Columbia in terms of real-estate and vehicle property taxes,” [and it] also asked a panel of property-tax experts for practical and political insight.” http://bit.ly/2BUdMPb

553KSF distribution center planned. “Trammell Crow Company has submitted a rezoning request [for ‘A1 Light Industrial’] to the City of Phoenix for 37.8 acres on South 59th Avenue south of Lower Buckeye Road to build [the] speculative distribution center project… Zoning staff had several stipulations along with their recommendation for approval.” Why so many conditions? AZBEX. http://bit.ly/2sXSs8N

Caliber buys up buildings to give Downtown Mesa a makeover. “Caliber, The Wealth Development Company purchased 100,000 square feet of property” — “eight historic buildings along Main Street between Country Club Drive and Center Street.” View an aerial of the buildings and find out what Caliber has planned for its “$7.625 million purchase,” at AzBigMedia. http://bit.ly/2EZUNBI

Landmark restaurant Don & Charlie’s could be razed for new Scottsdale hotel. (WHAAAT!?!) • Don Carson has signed a letter of intent to close Don & Charlie’s to make way for a new hotel (Could it really be curtains for “charred baby backs, don’s way”?!) • If the proposal goes through, Don & Charlie’s would close sometime after May 2019 (SAY IT ISN’T SO!!!) • Carson is in negotiations to possibly reopen a smaller version of the restaurant in the new hotel. (Whew.) • The story along with pics of food, at AZCentralhttp://bit.ly/2oArTBa

Construction boom across Arizona keeps electrical contractors busy — but they’re short on skilled labor. With the expectation that activity will continue to increase for “another four or five years,” some “industry members are predicting labor shortages and competitive raising rates amid the boom.” Says one business owner on the worker shortage: “There’s no end in sight…” Phoenix Business Journal (Subscriber Content). http://bit.ly/2t3trsO

ULI Trends Day 2018: Inform, inspire, involve. “ULI Arizona’s 13th annual Trends Day, held at the J.W. Marriott Phoenix Desert Ridge Resort & Spa and titled “Inform Inspire Involve,” highlighted a theme that some of the best ideas to build us up are not just on earth, but are also in the way we think.” AzBigMedia has a recap of the event, which includes a “first quick hit” that “blew away the audience.” http://bit.ly/2oBjvRK 

THE HONT FOR WATER – More can be done to address our water problem, it just takes more money. So says Nick Hont, “a civil engineer who was formerly director of Mohave County Development Services.” Hont  “wants to put in an injection well” at Kingman’s Monsoon Park water detention basin “to help recharge the Hualapai Valley Basin aquifer.” Kingman Daily Miner reports, however, that “the cost of an injection well to recharge treated wastewater into the aquifer is about $1 million.” And that’s just for starters. http://bit.ly/2ouFTwS

Dodge: January construction starts fall 2%, sign of ‘decelerating expansion.’ Among the factors: A “15% decrease in overall starts for public works projects; more specifically, a 34% plunge in highway and bridge construction.” The “Dive Brief” and “Insight” on this non-slide slip, in ConstructionDIVE. http://bit.ly/2HQhMRr

Flagstaff cabin is the most-wished for property on Airbnb in the state.Travel and Leisure compiled data provided by Airbnb to list the most-wished forproperties for each state and [a] 2-bedroom, 1970s-era cabin [N.E. of central Flag] was selected as the standout for Arizona.” See it in a SLIDESHOW at KTAR. http://bit.ly/2EZGzVu

Website rates Gilbert as hardest-working city in Arizona. “WalletHub rated the Phoenix suburb No. 24 on a list of 116 American cities where hustle and sweat were a way of life.” How researchers “arrived at their findings” and where other Valley cities popped up on the list, at KTAR. http://bit.ly/2GOXciW

The Satanic Temple files discrimination lawsuit against city of Scottsdale. Today, Dealmaker kicked things off with a report that referenced “zombies.” We now bookend things with a Scottsdale Independent story on some civic-minded devil worshipers: “The Satanic Temple has filed a lawsuit against the city of Scottsdale alleging religious discrimination following the city’s refusal to allow TST to deliver an invocation prior to a City Council meeting.” Needless to say, it’s been a weird news day. http://bit.ly/2CpaJj4

Cameron’s $5M + deals of the day – http://bit.ly/2CMIsP8


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

U.S. Supreme Court rejects Tucson woman’s argument in gay marriage, child custody matter; “message is clear” says Rose Law Group family attorney Audra Petrolle. “Without comment the justices rejected a bid by Kimberly McLaughlin to deny shared custody of her biological child with Suzan McLaughlin, who she was legally married to at the time of the child’s birth.” By Capitol Media Services’ Howard Fischer in Arizona Daily Star. RLG’s Audra Petrolle on the Court’s “message”: “Same sex couples are entitled to the same rights, benefits, and privileges attendant to marriage as heterosexual couples. Immutable characteristics such as biology are not relevant…” (Meanwhile… “U.S. Supreme Court will take up Mount Lemmon Fire District age-discrimination case.”) http://bit.ly/2EYyAUl

Arizona, 19 other states sue Trump Administration over Obamacare’s individual mandate — again. States contend “‘in a complaint filed today in U.S. District Court in the Northern District of Texas… that since Congress repealed the individual mandate’s tax penalty for not having coverage, that means the mandate itself — and the whole health care law — is invalid.” POLITICO. http://bit.ly/2BU83sU

‘Worst trade deal’ could add 63,000 jobs to Arizona economy. “Economists have predicted that if President Donald Trump follows through on his threat to withdraw from [NAFTA, aka one of the ‘worst trade deals ever’] the U.S. could see widespread job losses.” OTOH, one economist concludes that removing “existingtrade barriers with Mexico… could create more than 700,000 new jobs — including 63,000 in Arizona — and add at least $69 billion to the U.S. economy.” AZCentral (In a RELATED item from KTAR: “Tribal leader repeats vow to fight Arizona-Mexico border wall.”). http://bit.ly/2F7gD9E

Candidate’s text messages roil race to replace congressman ousted in sexscandal. An NBC NEWS report on today’s “special election” and the race for a seat vacated by the scandal-ridden resignation of Rep. Trent Franks — and involving “Franks’ hand-picked successor,” Steve Montenegro, a candidate also plagued by scandal. Valley PR heavyweight and political consultant Jason Rose weighs in with these thoughts: “There was a movie once upon a time called ‘Dumb and Dumber’…This is a race that should be called weird and weirder.” http://bit.ly/2BTR9KR

Ducey indicates he’ll try to steer his re-election race away from national themes and Trump. “My job is in the state capitol and the 15 counties in the state of Arizona, not on the East Coast,” said Gov. Doug Ducey over the weekend, at the National Governors Association meeting in WASHINGTON. CNN takes a look at some of “what’s at stake” in this year’s “36 gubernatorial contests.” http://bit.ly/2HR3D6H

Firearms-related deaths increase among Arizona children. “As the nation continued to grieve the loss of 17 high school students in the Feb. 14 mass shooting in Parkland, Florida, Cronkite News took a look into how many deaths among Arizona children involve firearms.” The grim stats here: http://bit.ly/2t4zOwa

Rosewood Homes earns 6-Awards at 22nd Annual Elliant Homebuyers Choice Awards Read more

Multifamily Rental Rates on the Rise in Greater Phoenix Read more

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

The Dealmaker: 2/28/2018

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

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Apache Junction City Council approves Bella Corona housing project. “The layout for an 83-lot Bella Corona subdivision of single-family homes has been approved for 10.61 acres near South Ironwood Drive and West 20th Avenue…” KEY QUOTE provided by the project’s “excited” rep who, apparently, couldn’t wait to get everything rolling, telling the council even before its 7-0 vote: “Tractors are on-site now.” Apache Junction Independent. http://bit.ly/2F2b1hB

Metro Phoenix home valuations are on the rise. But will property taxes climb too? ATTENTION homeowners: Your property valuation reports are ready! They will “determine how much you pay in taxes, but not this year.” And should the figures on the government form look a bit off, don’t freak. That’s the basic advice from real estate reporter Catherine Reagor, who brings a bit of clarity when it comes to understanding “one of the most convoluted property tax systems in the U.S.” — at AZCentralhttp://bit.ly/2CNCSfz

Multifamily rental rates on the rise in Greater Phoenix. Per a report from Colliers International in Greater Phoenix: “Asking rental rates rose 6.8 percent in 2017… as demand for apartments keeps pace with the growing inventory of units.” Highlights from the report, including Colliers’ predictions for the Phoenix multifamily market in 2018, at Rose Law Group Reporterhttp://bit.ly/2F2xlYA

Riding the tech wave in Phoenix. “The city is reinventing itself as a tech hub driven by a diverse economy, welcoming young professionals and investors looking for higher yields in secondary markets… Development is not slowing down, as population growth and a thriving job market are fueling demand.” Get an overview of the Yardi Matrix report and access the full forecast at Multi-Housing News. http://bit.ly/2GTN6gR

LAID BACK HPIs  – Home prices start to slow their gains. “As usual, S&P CoreLogic Case-Shiller, Black Knight, and the Federal Housing Finance Agency all posted different numbers reflecting their different universes and methodologies, but all showed… that gains in housing may be leveling off.” Mortgage News Daily. http://bit.ly/2CqSOZj

Alliance Residential grows portfolio to more than 100,000 units.“Currently managing more than 440 properties nationwide, Alliance has close to 15,000 units in Phoenix, where the company recently doubled its corporate headquarter space.” More on the “nation’s second largest multifamily developer and seventh largest multifamily manager” — and its portfolio — at AZRE. http://bit.ly/2BXozbx

Mesa City Council approves initial agreement to bring ASU downtown. “The intergovernmental agreement… plunges Mesa into a familiar debate over whether ASU is the missing piece in reviving its downtown… More than a dozen people spoke at [Monday night’s] two-hour meeting, rare for a Mesa council meeting.” AZCentral. http://bit.ly/2CR5Yec 

Scottsdale luxury resort named among best hotels in nation. “The Canyon Suites at The Phoenician was forty-sixth best hotel in the nation.” And what doesU.S. News & World Report say was one of the reasons it gave the hotel this ranking? Find at at KTAR. http://bit.ly/2Fd3gVu

Kingman ordinance encourages commercial development. “City Council Tuesday unanimously approved an ordinance to waive commercial building fees… While Kingman’s commercial development hasn’t boomed as of late, Interim City Manager Jim Bacon noted that down the line the ordinance could have significant fiscal impacts.” Kingman Daily Miner. http://bit.ly/2F8oNyF

110MW solar project proposed in Yuma County. The Yuma Solar Energy Project (Invenergy, LLC) “would sit on approximately 680 gross acres of land” located “just east of” Yuma and “adjacent to the Barry M. Goldwater Air Force Range.” AZBEX reports that the “amount of power that could be generated at this facility is the equivalent of powering 25,845 homes.” (Or, to use another example ripped right from today’s headlines: It could generate enough power to heat all the hot water that Hope Hicks currently seems to be in.) http://bit.ly/2GRaSdB

Maricopa Future Cities team takes home award at nationals. “Future Cities is a national competition where middle school students research, design and build cities of the future…. The team ‘Innovacia’ from Maricopa Wells Middle School won the award for ‘Most Sustainable Environmental Practices.’ ” More at Maricopa Monitor. Nice job, team! http://bit.ly/2CPmP0I

Cameron’s $5M + deals of the day – http://bit.ly/2t43gSM


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Lesko leads hotly contested District 8 race in early returns. Former state Sen. Debbie Lesko had and kept a commanding lead over a crowded Republican field in the hotly contested special election to replace former Rep. Trent Franks… The unofficial returns gave her the win, and Democrat Hiral Tipirneni won the Democratic primary. Cronkite News/Rose Law Group Reporter. http://bit.ly/2HROGRO

Top secret intel: Russia compromised seven state websites, including Arizona’s. <— That is what “senior intelligence officials told NBC News.” HOWEVER, Arizona Sec. of State spokesperson Matt Roberts “said the state had not been told that ‘ANY Arizona voting system has been compromised, nor do we have any reason to believe any votes were manipulated or changed. No evidence, no report, no [ничего].’ ” (NOTE: We took a bit of comedic license with that quote. The bracketed word is actually Russian for “nothing.”) http://bit.ly/2oxz7GZ

Legislature feels it needs a ‘code of conduct,’ albeit vague about specifics.“Following the ouster of one representative and the revelation of suggestive text messages between a former senator and a staffer, a committee will draft a code of conduct governing the Legislature.” And while the announcement “offered few details about the specific goals of the committee,” reporter Katie Campbell has some info on its “bipartisan, bicameral” makeup, in Arizona Capitol Times. http://bit.ly/2EZP1zX

Ex-Flagstaff city manager to receive $92,000 in severance. “Former Flagstaff City Manager Josh Copley [who resigned February 7, saying he’d ‘been treated unprofessionally by members of the city council’] will receive nearly $92,000 in severance pay, despite a provision in his contract that states if the city manager resigns voluntarily, he or she is not entitled to severance pay… ” No wonder the man looks so happy his pic at Arizona Daily Sun! —> http://bit.ly/2HU0CCw

It’s raining cats and dogs . . . well, not so much cats. New York Times“science writer at large” James Gorman on why scientists love to study dogs (and often ignore cats). (Also from “The Gray Lady,” this RELATED item: “Barbra Streisand Cloned Her Dogs. For $50,000, You Can Clone Yours.”). http://bit.ly/2otCJK4

Rosewood Homes earns 6-Awards at 22nd Annual Elliant Homebuyers Choice Awards Read more

Multifamily Rental Rates on the Rise in Greater Phoenix Read more

Fourth quarter existing home prices up 5.3 percent; nearly two-thirds of markets at all-time high Read more

Cameron’s $5M + deals of the day

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Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County.

Price: $43.2M
Buyer: SPMPA, LLC
Seller: Springbrook SBC, LLC
Property Type: Apartments
Property Size: 607,329 SQFT
Location: 1111 North Mission Park Boulevard, Chandler
APN: 310-01-818
Financing: Cash
To view the affidavit: 180150967, click here.

Price: $21,850,000
Buyer: Talavi Bell, LLC
Seller: Kimco Talavai Town Center, LLC
Property Type: Commercial
Property Size: 533,784 SQFT
Location: 5175, 5735, 5795 West Bell Road, Glendale
APN: 200-50-201 – 202, 200-50-203A – 203C
Financing: New loan, conventional
To view the affidavit: 180153669, click here.

The Dealmaker: 3/2/2018

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

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Pinal County manager blasts Goldwater motion against RTA tax. (Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County working to bring new transportation infrastructure to the county.) The Goldwater Institute has “filed a motion to prevent Pinal County from collecting Proposition 417’s transportation excise tax.” GI accuses the county of “attempting to change the law after the election.” And what does County Manager Greg Stanley think of the institute’s charge? Two words: “Fake news.” http://bit.ly/2oIKafw 

Incorporation hopes for 100,000+ residents shattered by Shea Homes. “The Vote San Tan Valley Steering Committee today announced that hopes to allow residents to vote on whether or not to make San Tan Valley a municipality were derailed by a surprise announcement from Shea Homes stating that, as a declarant, they would not give permission to the effort, in effect terminating the democratic process.” Details at SanTanValley.com. http://bit.ly/2FiiKYo

Amazon’s latest incursion in housing has a familiar ring to it. Builder’s John McManus on how “[h]ome technology’s troika — Alphabet, Amazon, and Apple — see homes, communities as a networked distribution platform for products and services like home security.” http://bit.ly/2ozTByL

Some compromise in property tax, GPLET bill. “The Arizona House of Representatives approved 58-0 a bill adding some new reforms to property tax breaks that cities offer to developers and businesses. House Bill 2126 ended up being a compromise measure between fiscal conservatives, real estate groups and cities over Government Property Lease Excise Taxes, reports PBJ. More this “GPLET Compromise” in Rose Law Group Reporter. http://bit.ly/2FMWGTp

Arizona housing market prices are rising, but still not recovered from recession. “ [H]omes in the Arizona market are still on average worth 16 percent lower than they were almost 12 years ago. Those findings come from a report by CoreLogic looking at state by state and national market recovery.” But are Arizona’s market conditions anything to freak out over? Find out in PBJ. http://bit.ly/2GXlxDm

Salary needed to buy a home in 15 large metros. “SmartAsset crunched the numbers and found that residents in three big cities would need to make more than $110,000 to afford a home.” Fortunately, Phoenix wasn’t one of those three cities. See how much scratch Phoenicians need to make per year to afford a home, in Builder. http://bit.ly/2FeGywd  

Most expensive home sales in Phoenix. Arizona Foothills Magazine has the “top home sales from the past week (2.19.18 – 2.25.18), during which combined sales totaled “over $20 million,” the EXACTLY THE SAME as the previous week. Among the home features included in this installment: A 900+ bottle wine room, a 12 car garage, 7 bedrooms, and 1 piece of super-expensive patio furniture (Brown Jordan?) that appears to be going up in flames. http://bit.ly/2FdlYMP

Maricopa home sales. “An extensive list of sales data (PDF) for homes sold — February 2016 through February 2018, from subdivisions Acacia Crossings to Villages at Rancho El Dorado — in Rose Law Group Reporter (courtesy of InMaricopa). http://bit.ly/2F9YWD9

Flagstaff zoning commission endorses Mill Town height increase, rent byroom. “[P&Z] unanimously approved a set of permits that will allow the Mill Town mixed use student housing development to exceed the height maximum allowed in the zoning district [i.e., 65 feet] and to rent by the bedroom instead of by the unit.” But, unlike the 591-bed Hub that came before it, this “massive,” 1,221-bedroom, proposed project from Vintage Partners isn’t facing nearly as much pushback. Arizona Daily Sun. http://bit.ly/2oLt9l7 

Glendale City Council agrees: No property tax increase. “Councilmembers agreed the total amount to be collected if the city raised property taxes would not be worth the possible questions of citizens.” The Glendale Star reports, however, that the “decision by council included a change to city policy where council would revisit the discussion every year…” http://bit.ly/2Fa2DJb

EIGHTY-SIXED SUSSEX SEEKS STAY – Tempe ‘squatter’ isn’t taking eviction order lying down, seeks time to appeal decision“A Superior Court judge in February gave Steve Sussex 30 days to vacate the parcel of land, a site that contains both a historic adobe house and enough vehicles and debris to give it the look of a junkyard.” With the March 15 “deadline to vacate” fast approaching, Sussex has filed motion that “asks for a stay until the judge’s ruling is appealed.” AZCentralhttp://bit.ly/2GUCNt1 

Unruly gatherings: Paradise Valley seeks stricter ordinance. “Examining the practices of Arizona’s three collegiate towns — Flagstaff, Tempe and Tucson — the Town of Paradise Valley has set its sights on implementing an ordinance to address unruly gatherings.” It would include the possibility of steep fees and fines, plus a “scarlet letter” posted to any property whose occupants violate the proposed ordinance. http://bit.ly/2F8bC1t

Airbnb generates $11.5 million for Arizona in tax revenue in 2017. “Not only did Airbnb generate money for the state, its hosts brought in some money last year, too. In Arizona, Airbnb hosts earned a combined $94.9 million while housing more than 646,000 guests…” More on Airbnb’s big bucks for Arizona in PBJ. http://bit.ly/2oJcE8Y

Pete Bolton earns NAIOP Arizona’s Award of Excellence. “Pete Bolton, who mentored generations of commercial real estate professionals and managed four companies, will be honored with the Award of Excellence at the Best of NAIOP on March 22 at the Camelback Inn.” President and CEO of NAIOP Arizona, Suzanne Kinney: “Pete has left his mark on the commercial real estate industry and beyond. This award is intended to recognize his many contributions.” AZRE. http://bit.ly/2F9yJ7R

A LAFFERTY MATTER – Phoenix businessman and mayoral candidate hopes to fuel downtown growth. “We have about 12,000 people that live downtown, and we should have 30,000 people just based on population, so we’re way behind,” says Phoenix businessman Michael Lafferty. Downtown Devil reports that the “former Republican” turned “registered Independent” will “run his campaign as a ‘Phoenician first.’ ” READ ON:http://bit.ly/2t8u30l

Glendale building code changes expected in near future. <— Which is something that “staff had been recommending” — “updated codes that reflect safer practices and instill new technology, [and that allow] the city to maintain good standing with the property insurance rating industry.” The Glendale Star. http://bit.ly/2oFkcKA

Fire sale. “To offset budget cuts, businesses can now buy ad space on Mesa firetrucks — signaling a trend some consumer watchdogs say is cause for alarm.” Over what? “Mesa fire-trucks driving around the city with Under Armour ads on the sides, or ads for dispensaries”? Not quite. As PHOENIX magazine points out: “Actually, what the department will allow on the trucks is tame.” http://bit.ly/2HYoSDm

How proposed Florence biogas plant will work. “Biogas refers to generating electrical power from treated sewage, food and farm waste.” How the new plant “next to the town’s south wastewater treatment” will pull that off — “transforming waste into wealth” — while at the same time, not adding to the “area’s odor or noise” — in Florence Reminder. http://bit.ly/2HXxXwr


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

DRIVERLESS PERMITS – Gov. Ducey: Self-driving cars allowed on Arizona roads without human behind the wheel[VIDEO]; future ‘mainstream mode of transportation,’ says Rose Law Group Cybersecurity, Privacy and Emerging Technologies Chairman, Troy Roberts.“Gov. Doug Ducey on Thursday… issued a new executive order that makes it clear the robot cars don’t need a driver behind the wheel if they follow all the traditional traffic laws and rules for cars and drivers.” Troy Roberts: “Governor’s Ducey’s encouragement of AV technology development in Arizona demonstrates foresight and capable leadership, as AV technology experts and others foresee the technology advancing road safety, the economy, and human growth generally.” MORE HERE: http://bit.ly/2oCDn7W

Governor Ducey Forms Arizona Cybersecurity Team; Governor’s office grasps importance of emerging technology and adaptation, says Troy Roberts, Rose Law Group Chairman of Cybersecurity. “Governor Doug Ducey today issued an executive order to create the Arizona Cybersecurity Team (ACT), a diverse team of experts from state, local, and federal government, the private sector, and higher education to work together to protect Arizonans from a cyber attack.” Troy Roberts: “Consistent with other technology development in Arizona related to public well-being and economic development, the Arizona Cybersecurity Team is another example how the Governor’s office grasps the importance of emerging technology and adapting to a changing world.” http://bit.ly/2Fjq4mv

Tech billionaire, ordered to reopen public beach, appeals to supremecourt. Sun Microsystems co-founder Vinod Khosla “has been battling California regulators and environmental advocates for years over access to” a beach “that can only be reached by a private road across Khosla’s property.” Lawyers in the case say that a “ruling against” Khosla “will throw private property rights in California into disarray.” What about wider repercussions? The Guardian. http://bit.ly/2tcBbsA

No foul, but some harm, says UA basketball coach Sean Miller. In Thursday’s announcement, Sean Miller said that “he will remain the head coach of the Arizona Wildcats, and strongly denied the ESPN report that alleged wiretaps have him discussing a $100,000 payment… to secure the signing of Deandre Ayton.” Desert Swarm has the coach’s complete statement. (Also available with a click: “ESPN stands by its original story on Miller,” in DEADSPIN.  And “Sean Miller returns to lead Arizona Wildcats with backing of UA, Regents” from Arizona Daily Star.http://bit.ly/2F90LA2

What can you record in your own home? Arizona porn laws explained. Yesterday’s Dealmaker had an AZCentral piece on why the “sellers of a $2.2M Paradise Valley house don’t have to disclose home’s porn past.” Today, AZCentral looks a little closer at Arizona law, which “seems to ban every aspect of filming porn… Except it doesn’t.” http://bit.ly/2oEe71b

Tucsonan Bauserman ousted from Trump administration for ‘birther,’ anti-Muslim posts. “A series of conspiracy posts, along with reported anti-Muslim and anti-LGBT comments, have cost a Tucson political activist her job in the Trump administration. Christine Bauserman resigned from the Interior Department on Wednesday, with officials saying her posts were ‘inappropriate and unacceptable.’ ” TucsonSentinel.com. http://bit.ly/2GYdMx0  

Democrats push against the silence on gun controls in Arizona. “Arizona’s Democratic legislators have pleaded with their Republican colleagues to do something, anything, to make sure such a mass shooting never happens again. Those pleas, in the form of daily speeches on the Senate floor, have mostly been met with silence” — “mostly,” because there have been some Republican responses, such as “it’s not guns that are to blame, it’s ‘the darkness of a human soul.’ ” Arizona Capitol Times. http://bit.ly/2tb9Ozc

Senate passes redistricting overhaul. In what Democrats say was “politically motivated” Republicans state senators on Wednesday “approved a resolution… that would overhaul the membership of the state body responsible for redrawing Arizona’s legislative and congressional district boundaries.” But it will be up to voters to “approve the plan.” Arizona Capitol Times. http://bit.ly/2oFmwBi

[IN-DEPTH] Havasupai children write letters to Trump, asking for end to canyon mining.“Tribal members fear their future will be in jeopardy if Energy Fuels Inc. gets its way. The company owns a uranium mine that sits a few miles off the South Rim entrance to Grand Canyon National Park… The [letter-writing] campaign is ‘an adolescent plea with the president to not gamble with their future,’ one tribal member said.” Cronkite News. http://bit.ly/2oFmKs8

Arizona water managers disagree on how to prevent a shortage on the Colorado River.Allow water users to skip delivery? Stick with existing programs? “Arizona officials are calling for new conservation measures on the Colorado River that would protect water levels in Lake Mead from the effects of a relentless drought across the Southwest. But the push to use less water has revealed differences in the way water managers view conservation.” AZCentral. http://bit.ly/2taT2QG

‘U.S. News & World Report’ ranks Iowa as “Best State,” Lousiana as worst. What about Arizona? The rankings “draw on thousands of data points,” including “health care and education,” “a state’s economy, the opportunity andquality of life it offers people,” “infrastructure,” “public safety and the fiscal stability of state government.” http://bit.ly/2F5C3F4

Estrella Bolsters Home Builder Portfolio With Courtland Communities Debut Read more

Rosewood Homes earns 6-Awards at 22nd Annual Elliant Homebuyers Choice Awards Read more

Multifamily Rental Rates on the Rise in Greater Phoenix Read more

The Dealmaker: 3/5/2018

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

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IS THERE A D.R. IN THE BIG HOUSE? – New Casa Grande homes coming to Cottonwood Ranch, Mission Royale. “D.R. Horton purchased 312 lots in Cottonwood Ranch and 154 lots in Mission Royale. In both locations, home buyers will have an opportunity to choose from different floor plans with varying external elevations.” View 15 elevation renderings, plus get info on home sizes and pricing, at Casa Grande Dispatchhttp://bit.ly/2FUduIf

87-acre healthy mixed-use campus planned. “Healthcare giant HonorHealth is seeking approval for a [PUD] from the City of Phoenix to create Sonoran Crossing, an 87-acre, hospital-anchored, mixed-use wellness campus [‘at the NEC of Interstate 17 and Dove Valley Road’] that will ultimately include office, retail and residential components as well.” Details on the “Development Components” at AZBEXhttp://bit.ly/2oR1PSd

Bids hit $18.5 million in Phoenix Indian School land auction. “The federal government owns the [’15 acres’] and opened bidding [‘at $11 million’] in February. So far, there have been 25 bids from six different undisclosed bidders.” (But youknow who you are.) More on what one realty specialist calls a “unique opportunity of unimproved land ready for development,” in PBJ (Subscriber Content). http://bit.ly/2D0tGES

A GLOOMY ‘NOEL’ – Homebuilders not happy with Trump’s new steel and aluminum tariffs. The tariffs “could not have come at a worse time,” says NAHB Chairman Randy Noel. Read Noel’s full statement in World Property Journalhttp://bit.ly/2D2eBCx

Data center to be built in Mesa’s Elliot Road tech corridor. “[EdgeCore Internet Real Estate] has chosen Mesa’s Elliot Road Technology Corridor as the site of one of its first projects.” East Valley Tribune reports that the project is a “major win for Eastmark,” as the “campus will be within the Eastmark development just west of Apple’s global operations center at Elliot and Signal Butte…” http://bit.ly/2oPksGe

Peoria City Council approves rezoning for Marriott hotel. “The existing [PAD] did not allow for a hotel. The developer plans to build a ‘dual brand’ hotel” — “a Marriott Townplace Suites and Fairfield Inn”’ — “in one four-story building.” The “198-room” hotel would be located on a “3.3-acre site on the [S.W.] corner of Paradise Lane and 75th Avenue.” Peoria Times. http://bit.ly/2I7rjUj

New car dealership coming to Rivulon. “Autobahn Properties, LLC, through Nationwide Realty Investors, LTD, recently sought approval from the Planning Commission/Design Review Board on the site plan for a new car dealership [on 4.59 acres’] at the SEC of Gilbert and Pecos… Staff notes [the] proposed design should blend well with the Volvo Dealership in close proximity to the south.” AZBEX. http://bit.ly/2H92MNn 

Two cases before Apache Junction appeals board. The AJ “Board of Adjustment and Appeals is to discuss two items” at an upcoming meeting.  One item is an “appeal of the zoning administrator’s decision by Bambi Johnson, represented by Adam Martinez and Thomas F. Galvin Jr. of the Rose Law Group….” Pertinent details at Apache Junction Independent. http://bit.ly/2oRtCCf

Experts: CRE investment market will remain strong. “Greater Phoenix experienced its largest investment transaction on record during 4th quarter of 2017.” Per a 2017 Q4 Greater Phoenix Investment Report by Colliers International, the “market is expected to maintain momentum throughout 2018.” Report highlights at AZRE. http://bit.ly/2D1wy4a

A DAM GOOD JOB! – AZ joint venture project earns national award.  “Sundt/Rummel, A Joint Venture, has earned The Associated General Contractors of America’s ‘2018 AGC Marvin M. Black Excellence in Partnering Award’ for its work” rehabbing a “White Tanks Flood Retarding Structure” in Buckeye. Arizona Dept. of Water Resources “had named White Tanks as having the highest risk in Arizona… To ensure maximum flood level protection the dam needed to be raised two feet.”AZBEX. http://bit.ly/2oR3vuZ

Greater Phoenix Chamber highlights transformation of downtown. This news brief at Arizona Business Daily highlights a recent article on the  Chamber’s website — “10 Reasons Downtown Phoenix is THE place for business growth” — in which the “Chamber cites data that tracks businesses’ $5.03 billion redevelopment investment in the Downtown Phoenix area,” an infusion that has “helped transition downtown from a strictly business area to a growing urban cultural center…” http://bit.ly/2FdlhUd 

Movers & shakers define Old Town Scottsdale evolution. “Business leaders and city officials gathered at [SCC] for a panel discussion to describe the changing face of Old Town Scottsdale… [T]he Issues & Experts forum included Scottsdale City Manager Jim Thompson, President of Spring Creek Development Carter Unger, Scottsdale Charros member Rick Carpinelli and Macerich Senior Vice President of Real Estate Services Scott Nelson.” Moderating was Scottsdale Independent Managing Editor Terrance Thornton, so, naturally, he has coverage. —> http://bit.ly/2H6eaJM 

Peoria achieves 3-STAR Community rating. “[T]he 69th city in the nation to receive recognition from STAR Communities for its participation in the STAR Community Rating System, which evaluates the livability and sustainability of U.S. communities.” Mayor Cathy Carlat: “We are thrilled to be recognized as a leader in sustainability…” See which “efforts stood out among Peoria sustainability initiatives,” in Peoria Times. http://bit.ly/2oKapDl

Weise to host Avondale’s State of the City. WestValleyView reports that “Mayor Kenneth Weise will highlight last year’s accomplishments, including the city’s development and redevelopment successes. The city will also highlight companies whose contributions and stories embody Avondale as ‘aspiring, achieving and accelerating.’ ” For more info on the upcoming event, tap to it: http://bit.ly/2tmjU0i

Surprise Stadium is ranked top spring training spot in Arizona. The City of Surprise official website reports that USA Today “conducted a study of online fan reviews to create scores for all 23 spring training stadiums in four areas: facility; family friendliness; food; and fan experience.” The newspaper ranked Surprise Stadium “No. 1 Spring Training Stadium in the state.” Access the full report at Arizona Business Daily. http://bit.ly/2oQNKUZ

Top 10 historical & archaeological sites around Maricopa [VIDEO].“Maricopa Historical Society Vice President Denny Hoeh share[s] his top 10 historically-significant sites that contribute to the rich and diverse social tapestry around Maricopa.” Says Hoeh, “We all like our… stories that we have grown up with… but it’s nice to go to these places and see… some of the artifacts and some of the information that we might have missed in the folklore.” InMaricopa. http://bit.ly/2tlCrJY

Historic Superior smelting complex to be demolished. “The smelter complex was built in the 1920s by Magma Copper, which began mining the area in the early 1900s and operated for most of the 20th century.” Why Resolution Copper is leveling the stacks and what residents can expect when they come tumbling down, at PinalCentralhttp://bit.ly/2oJh2po

No incumbents running for three Flagstaff Council seats; mayor seeking reelection. “All three incumbents… whose seats are up for reelection — Eva Putzova, Scott Overton and Celia Barotz — confirmed… they did not intend to seek reelection… Mayor Coral Evans has announced she will seek reelection…” Curious about who may be running for the “three available council seats”? Arizona Daily Sunnames names. http://bit.ly/2FpkUVV


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As a supplement to the Dealmaker, we thought you might enjoy these articles!

The Arizona Legislature wanted to build a border fence. Here’s where the money went. In 2011 “lawmakers invited private donors to fund fencing for the state’s… border with Mexico,” but the fund “closed last year having accumulated less than $270,000. So legislators instead allowed… four border county sheriffs to bid for the funds.” How did Cochise County, “the sole bidder,” put the funds to use? Find out in AZCentral. (RELATED: “A 2,000-mile journey in the shadow of the border wall,” in USA Today.http://bit.ly/2FWfcsC

Regents push back over AG’s tuition-setting challenge. “Lawyers for the Board of Regents told a judge Friday that [AG] Mark Brnovich has no legal right to challenge the tuition the board sets for the state’s three universities.” Capitol Media Services’ Howard Fischer reports that what’s “[h]anging in the balance is the claim by Brnovich that the regents have ‘dramatically and unconstitutionally’ increased the cost of going to one of the state’s three universities” — in Arizona Daily Star. http://bit.ly/2ti7Flh

Republicans again trying to control when city elections are held. Republican legislators are making another bid this coming week to tell local governments when they can have their elections. But House Speaker J.D. Mesnard contends that this time lawmakers will convince [the Arizona Supreme Court] to let them do what they want.” A Howard Fischer report in PinalCentral. http://bit.ly/2I6Dj8q

Bill changes how much lobbyists must report when they spend on legislators. “[SB1118, sponsored by Sen. John Kavanagh] would change the reporting rules by requiring that only the fair market value of the food, beverage and other tangible benefits received by the state officer or employee is reported. Currently, reportable expenditures are based on the total expenditure incurred by the lobbyist for the benefit of the organization hosting the event.” Paulina Pineda explains in her report at Arizona Capitol Times. (Subscriber Access). http://bit.ly/2Fb0noO

Waiter, my soup is cold: From the Rose Law Group Reporter Growlery.Senior Reporter/Writer Phil Riske shares a few of his food-ordering epic fails. Funny stuff, clearly illustrating a foodie Phil is not, at least not the snobbish kind. http://bit.ly/2H6vMp8

Baldwin returns to ‘SNL’ as Trump flip-flopping on gun-control Bonus video: Actress playing Hope Hicks appears on “Weekend Update.” WATCH both “SNL” segments in Rose Law Group Reporter. (Also available, this RELATED item from ROLL CALL: “Trump to NBC: Replace ‘Alex’ Baldwin With Darrell Hammond.”) http://bit.ly/2FnG0nM

Estrella Bolsters Home Builder Portfolio With Courtland Communities Debut Read more

Rosewood Homes earns 6-Awards at 22nd Annual Elliant Homebuyers Choice Awards Read more

Multifamily Rental Rates on the Rise in Greater Phoenix Read more

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