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Latest News in Scottsdale, AZ
City of Scottsdale cuts off Rio Verde Foothills residents from water supply
SCOTTSDALE, AZ (3TV/CBS 5) - It’s not a happy new year for over 1,000 Rio Verde Foothills residents who are now cut off from the City of Scottsdale’s water supply.A new year’s resolution at the Nabity household is to be “ultra conservative” with their water. It’s why Karen Nabity was thankful for Sunday’s rain. She placed at least seven containers around her house to collect rainwater to use inside her home.“I’m using rain water in here to wash my hands with, to rinse...
SCOTTSDALE, AZ (3TV/CBS 5) - It’s not a happy new year for over 1,000 Rio Verde Foothills residents who are now cut off from the City of Scottsdale’s water supply.
A new year’s resolution at the Nabity household is to be “ultra conservative” with their water. It’s why Karen Nabity was thankful for Sunday’s rain. She placed at least seven containers around her house to collect rainwater to use inside her home.
“I’m using rain water in here to wash my hands with, to rinse dishes with before they go in my dishwasher. I’m using rainwater for flushing the toilets and I’m even capturing the water in the shower. The minimal water we use to take a very quick short shower,” she said.
Nabity said it might be how things are done for a couple of years since there’s still no solution to a new water source.
It’s been an ongoing concern for over a year, from a rejected proposal to create a Domestic Water Improvement District (DWID) to the possibility of buying water from the San Carlos Apache Tribe. The latter is an option still requiring approval and the municipality to pull water, process it, and serve it to water haulers.
There’s still the chance for EPCOR, a private Canadian water utility company, to come into play. The company sent in an application to Arizona’s Corporation Commission. Approval is pending, but if approved, it could take the company more than three years to serve water to residents.
For now, Nabity and her husband are considering installing tanks above or in the ground. They would capture rainwater, helping them stretch their water supply until a solution is found. It would also help save money since having water hauled in from other towns will cost them at least $200 more each month for an average of 3,000 gallons of water. “We’ve built this home just 7 years ago so we can move in and live our life until we die,” said Nabity. “We plan on living here forever, you know?”
Another resident declined an on-camera interview but sent Arizona’s Family this statement in regard to the cutoff
Copyright 2022 KTVK/KPHO. All rights reserved.
Newmark sells The Block at Pima Center in Scottsdale for $23.5M
Newmark announced the sale of The Block at Pima Center, a 37,958-square-foot, multi-tenant retail center located in Scottsdale, Arizona. The asset sold for $23.5 million, one of the highest sale prices for a newly constructed, unanchored strip center in Metro Phoenix history.Newmark Senior Managing Directors Jesse Goldsmith and Steve Julius and Director ...
Newmark announced the sale of The Block at Pima Center, a 37,958-square-foot, multi-tenant retail center located in Scottsdale, Arizona. The asset sold for $23.5 million, one of the highest sale prices for a newly constructed, unanchored strip center in Metro Phoenix history.
Newmark Senior Managing Directors Jesse Goldsmith and Steve Julius and Director Chase Dorsett represented both the seller, Block East, LLC & Block West, LLC, and the buyer, New Block 22, LLC. The property was 100% leased at the time of sale. Newmark’s extensive marketing process helped secure the repeat buyer and drove the sale of the property with leasehold interest, a rarity in Arizona.
“It’s been exciting to watch The Block at Pima Center come to fruition after many years in the making,” said Dorsett. “Adjacent to one of the highest income zip codes in Arizona, the property offers a diverse tenant mix of restaurants, beauty services and health/fitness. This is a fantastic legacy asset for the buyer in one of the most premier entertainment corridors in all of Arizona, and an excellent result for the seller who executed on their development plan.”
Located at the Northwest corner of Via De Ventura and the 101, The Block at Pima Center is a newly constructed, Class A+ retail center that features a mix of national and regional, high caliber tenants including Starbucks, Dickey’s Barbecue Pit, Mayweather Boxing + Fitness, Spinato’s and more. The asset features several full-service restaurants with patios, fast-casual dining options, health & fitness tenants and personal care services that cater to the nearby demographic.
“This was a complicated transaction for various reasons, not the least of which was the broader economic shift that occurred over the course of the deal that made a lot of other transactions fall out. The added complexity of a land lease, the idiosyncrasies of transferring title within the Salt River Pima Indian Community and a tight timeline required a certain finesse and perseverance,” said Curtis Brown, Principal MainSpring Capital Group. “The Newmark and Ross Brown brokerage teams and the debt financing professionals at Tauro Capital and Enterprise Bank did a great job.”
Pima Center is located in the heart of Central Scottsdale’s premier entertainment and employment corridor, adjacent to the highly trafficked Loop 101 Freeway. The property is proximate to numerous entertainment venues including Salt River Fields, Top Golf, Medieval Times, Great Wolf Lodge, Odysea Aquarium and more. Over one million square feet of mixed-use developments are proposed within a one-mile radius.
According to Newmark Research, retail was the only sector to increase investment sales year-over-year. Investment sales across all property sectors declined 23% year-over-year and 27% quarter-over-quarter in the third quarter of 2022. Even so, it was the second best third quarter on record.
Scottsdale will not open water supply to Rio Verde Foothills past Jan. 1
The mayor said it is not the city's responsibility to supply homes that Maricopa County issued permits to while knowing they didn't have a secure source of water.SCOTTSDALE, Ariz. — Hundreds of homes in a rural community near Phoenix are faced with a coming water crisis, and were hoping that Scottsdale would soon announce a holiday miracle.The city mayor's response? "There is no Santa Claus."Mayor David Ortega delivered the harsh remark in a recent statement on the city's upcoming water cut-off to Rio Ver...
The mayor said it is not the city's responsibility to supply homes that Maricopa County issued permits to while knowing they didn't have a secure source of water.
SCOTTSDALE, Ariz. — Hundreds of homes in a rural community near Phoenix are faced with a coming water crisis, and were hoping that Scottsdale would soon announce a holiday miracle.
The city mayor's response? "There is no Santa Claus."
Mayor David Ortega delivered the harsh remark in a recent statement on the city's upcoming water cut-off to Rio Verde Foothills as part of Scottsdale's drought plan. Come Jan. 1, more than 500 homes will no longer have a source of water.
"The mega-drought tells us all --- Water is NOT a Compassion Game," Ortega said in the statement.
Ortega sees the community's proposals to avoid the coming water cutoff as "special interests" trying to use Scottsdale resources and bring water tankers to the city's roads. He said the community's main "salvation," Canadian-based water utility company EPCOR, as being able to provide water to water to homes without the help of Scottsdale.
The city formally confirmed Ortega's message through a response from City Manager Jim Thompson on Monday, denying a petition from Rio Verde Foothills residents asking for an extension of water service.
"While the city was willing to work with RVF should a DWID be approved, that option is no longer viable given the decision of County Supervisors to not establish it despite residents’ efforts," Thompson's letter said.
"EPCOR is a private company with no jurisdiction over this region. Without a DWID, and no County involvement, the issue of the unlimited and unregulated growth would still be left unaddressed."
The utility confirmed it could take over service for Rio Verde Foothills, but also estimated getting the service up and running would take three years.
Dynamite Water, a water hauling company currently serving Rio Verde, has been trying to act as a more immediate solution for the community, planning to buy a year's water supply from the San Carlos Apache tribe, but the tribe still needs approval from multiple federal and tribal agencies.
Water levels are dwindling across the Southwest as the megadrought continues. Here's how Arizona and local communities are being affected.
Luxury, Spas, Scenery, & More: The Ultimate Travel Guide To Scottsdale & Things To Do
Scottsdale, Arizona, is worth visiting year-round. It’s located east of the state’s capital city, Phoenix, and is perhaps best known for its array of golf courses and spa resorts, and its proximity to the McDowell Sonoran Preserve. Don't overlook this city in favor of nearby ...
Scottsdale, Arizona, is worth visiting year-round. It’s located east of the state’s capital city, Phoenix, and is perhaps best known for its array of golf courses and spa resorts, and its proximity to the McDowell Sonoran Preserve. Don't overlook this city in favor of nearby popular stops like Sedona or The Grand Canyon when passing through Arizona. Travelers looking to explore the Grand Canyon State cannot miss this historic and vibrant city. Here's everything to know before planning and booking a trip to this southwestern gem.
Best Time To Go
The best time of year to visit Scottsdale is subjective. Many people consider the best time to go as the spring and fall. From March to May and late September to November, temperatures are warm but not unbearably hot, making it the perfect weather for enjoying the local nature trails or lounging by the swimming pool.
Summer in Scottsdale is the hottest time of year and may be too sweltering for some people’s liking. From late May to late September, the average daily high temperature sits above 97 °F. July is the hottest month of the year in Scottsdale with average temperatures ranging from 105 °F and low of 84 °F.
Some people consider winter (December to March) to be the best time of year to visit Scottsdale. Temperatures sit around 72ºF on average during this season so for travelers who want to do some hiking in the iconic Sonoran desert, it’s more comfortable.
What To Know When Visiting
Scottsdale is an underrated slice of paradise in the southwestern USA, boasting more than 330 days of sunshine per year. Many people who come to Scottsdale choose to extend their trip for staycations or even purchase second homes here thanks to the incredible weather year-round.
It’s also a huge hub for artists and art lovers. There are plenty of opportunities here (in a surprisingly affordable city) for visual artists to get their start at one of the 125 art galleries and studios.
Best Ways To Get Around
One of the easiest ways to get around Scottsdale on a budget is to utilize rideshare apps like Uber and Lyft. These services are widely available in the city, 24/7, and eliminate the hassle of finding accommodation with free parking on-site.
Travelers who want to experience the walkable side of Scottsdale will want to book their accommodation in the Downtown Scottsdale neighborhood. This is the easiest part of the city to explore on foot with shops, cafés, bars, and restaurants all within reach.
However, visitors planning excursions into the desert for hiking, horseback riding, and other adventures will need to arrange for a private transfer from their tour company or look into renting a car during their stay.
For getting around the city outside the downtown neighborhood, travelers can review maps of the Scottsdale Trolley System to plan their trips. The public transit system is free and frequent, with trolleys running at 20-minute intervals along each route.
Where To Eat In Scottsdale
Scottsdale is a great destination for food lovers who want to dine in style at Instagrammable cafés and fine dining establishments. There is a wide variety of cuisine types to choose from and truly something to satisfy every palate.
For budget eats, travelers can check out the Street Eats Food Truck Festival taking place in January. The event has 40 food trucks with each one offering a $2 sample as part of its menu. Vendors accept cash and credit cards.
Check out these ideas of where to eat in the city for some of the best food that Scottsdale has to offer:
Where To Stay In Scottsdale
Scottsdale is a sprawling city with plenty of accommodation options that make it accessible for every budget. Quaint hotels and inns are ideal for budget travelers visiting Scottsdale.
Those coming to town for the famous spas will want to indulge in a luxury hotel with facilities like The Phoenician.
Top Things To Do And See In The City
Scottsdale is full of attractions with everything from relaxation and pampering at spas to adventure and beautiful scenery on desert hiking trails. These are some of the top ways to spend time in Scottsdale, Arizona.
Outdoor enthusiasts will want to plan their travel to Scottsdale for the spring, fall, or winter seasons so that conditions are comfortable for hiking in the desert.
Then, they’ll have the opportunity to explore the McDowell Sonoran Preserve, a 30,000+ acre nature area that is the biggest urban park in the country.
Scottsdale is known as a city of luxury and it's no wonder with the incredible shopping opportunities it offers.
Travelers can spend an afternoon perusing the shops at Scottsdale Fashion Square, a contemporary mall complex with more than 200 brand-name stores and restaurants.
Scottsdale offers lots of unique spa facilities either as stand-alone establishments or as part of its many resorts, like The Phoenician. Travelers opting for a luxury stay should consider a hotel with a spa service to make the most of their time in Scottsdale.
However, travelers on a mid-range budget can still access many popular day spas in the area, such as the top-rated Spa Avania.
Taliesan West is one of Scottsdale’s most notable attractions. The historical landmark was once the winter home of famous architect Frank Lloyd Wright.
Today, it remains operational in his name as the headquarters of the Frank Lloyd Wright Foundation. Travelers can take a tour of the impressive property either with an audio guide or a local tour guide.
How To Spend The Perfect Day In Scottsdale
The perfect day in Scottsdale depends on the time of year travelers choose to visit. To make the most of the incredible desert scenery, visit in the early spring, late fall, or winter and start the morning with a hike at the McDowell Sonoran Preserve, exploring the desert.
Then, head into town for breakfast at U.S. Egg Breakfast & Lunch Old Town Scottsdale.
After breakfast, make your way to Spa Avania for a scheduled appointment. Opt for a hot stone massage, a therapeutic deep tissue massage, or a facial.
Following an hour or two of pampering and total relaxation, it’s time for lunch at Thai Spices Restaurant.
In the afternoon, take a guided tour of Taliesan West to learn about the history of the estate. Then, do some shopping at the many luxury stores at Scottsdale Fashion Square.
Before dinner, head back to your accommodation to change into something a little fancier for a night out in Old Town Scottsdale. Some fantastic upscale options for dinner and drinks include The Mission Old Town or Bourbon and Bones.
Scottsdale is an attractive tourist destination because it offers a long list of things to do in a convenient continental United States location.
Whether to visit Scottsdale or Phoenix comes down to personal choice, but Scottsdale is a smaller area that often helps vacationers feel more comfortable exploring. Of course, all of Arizona is worth visiting with many unique things to do.
Much of Arizona is hot year-round, and the best months to visit Scottsdale are around December to March to take advantage of cooler weather, especially for hiking.
Valley executives unveil plans to create Zenith Private Bank & Trust in Scottsdale
A group of financial industry executives and entrepreneurs are looking to create a new community bank based in Arizona, marking what could be the fourth one to open within a year.Zenith Financial Holding Co. filed a charter application with the Federal Deposit Insurance Corp. in June requesting permission to establish Zenith Private Bank & Trust in Scottsdale.The charter, in addition to a deposit insurance application, is currently under review by th...
A group of financial industry executives and entrepreneurs are looking to create a new community bank based in Arizona, marking what could be the fourth one to open within a year.
Zenith Financial Holding Co. filed a charter application with the Federal Deposit Insurance Corp. in June requesting permission to establish Zenith Private Bank & Trust in Scottsdale.
The charter, in addition to a deposit insurance application, is currently under review by the FDIC.
Zenith intends to operate as a full-service community bank, providing traditional banking, lending, mortgage and trust services to a potential client base of business and real estate professionals, investors and owners of small and medium-size companies.
The bank will also offer investment management services via its affiliate, Zenith Wealth Advisors.
The Valley’s population boom, uptick in new businesses and dearth of locally headquartered banks compared to neighboring states prompted a desire to launch Zenith, said Dan Thompson, president and CEO of Zenith Private Bank & Trust.
“I think when you are local and when you know the people that you're dealing with, there's a vested interest in seeing them be successful,” Thompson said. “You have a vested interest in the community that you serve, a deeper understanding of what you're doing and why you're doing it.”
Arizona is home to 12 locally headquartered banks, compared to 34 in New Mexico and 40 in Utah. Prior to the opening of Gainey Business Bank, Scottsdale Community Bank and Integro Bank in 2022, a community bank — or de novo — hadn’t launched in Arizona for more than 14 years.
According to Thompson, Zenith has already raised $22 million in capital and is hoping to obtain regulatory approval to open as early as March. He declined to disclose investors but typically a startup bank's executive group are among the investors who usually come in with a six-figure sum. Thompson said the investor group consists of about 33 families.
Other executives listed on the bank's charter application include:
“We started actually having people flooding in their commitments two days ago,” Thompson said in an interview with the Business Journal on Jan. 5. “I anticipate that we'll have at least a minimum raise in the next few weeks.”
Capital will provide sufficient footing to hire employees, cover operating expenses and the lending limit needed to accommodate borrowers as well as support its projected growth during the bank's first three years of operation.
Zenith will differ from other banks because it’s a fully integrated financial services company that will offer wealth advisory and management, in addition to mortgage lending and traditional banking services, Thompson said.
The bank already has plans to open its brick-and-mortar location at 4900 N. Scottsdale Rd. in the Portales Corporate Center.
“We want the money to stay here in the community and with opening a locally owned and operated bank, we get to support the local community, and I think that's really important," Thompson said.
Zenith’s charter application lists seven organizers, some of whom have banking industry experience.
Thompson has more than three decades of experience in banking and financial services. He was a member of First Western Trust Bank’s executive leadership team and founding shareholder group, in addition to serving as the bank’s regional vice president for Arizona and California through 2021.
Thompson was also president, organizer and founding board member of First Western Trust Bank of Arizona, a separate state-chartered bank and trust established in 2008 that merged into First Western Trust Bank in 2011.
Thompson is also president and CEO of Zenith Wealth Advisors, a Scottsdale-based firm he founded earlier this year with more than $163 million in assets under management.
“We've made great progress as a company to build that portion of the business,” he said. “Ultimately, the Zenith brand will be an integration of the wealth management company, the bank trust company that's been formed, which was part of the application to the FDIC, and a mortgage company.”
Identities of two additional Zenith executive officers were not disclosed on its charter application.
Organizing committees must gain approval from the FDIC and Arizona Department of Insurance and Financial Institutions to launch a new bank. Zenith’s charter and deposit insurance applications are currently under review by the FDIC.
Zenith Bank & Trust will employ about 20 people upon opening, Thompson said.
“At the end of the day, we're a really collegial group of people just trying to take care of other people,” Thompson said. “And that's what we’ll do.”
Dan Bass, Houston-based managing director of Performance Trust Capital Partners, who tracks the national banking sector, said it’s intriguing to see an influx of new locally-headquartered community banks opening in the Phoenix area, especially within a year.
“I think it shows there was a void in community banking in that market,” he said. "Do you need four new ones? I don’t know. … They basically have the same starting point and it will be interesting to see how they evolve over time.”
New community banks may be challenged with quickly leveraging capital to turn a profit. Clients who obtained a record-low interest rate for a loan or mortgage with a national bank might be hesitant to refinance at current, higher rates, he said.
Community banks, however, could gain more clients looking to move deposits from national banks. Locally owned banks could also attract more clients because of their emphasis on customer service and community relationships, he added.
“Small businesses tend to use community banks more so than big banks,” Bass said. “They’ll listen to their story and understand what they are doing because they live in the community. Community banking is the lifeblood of our nation, and small businesses need a community banking network for lending.”