Daily News May 1, 2009

Daily News from the desk of Nicholas L Miner, CCIM

Here are the news stories you might find interesting today:

By clicking here, you can download the ULI Arizona Spring 2009 Report.

Merchants, city plan makeover for Bell Road mile

Contest offers free rent on Mill Avenue

Arizona gets $82M in stimulus funds for water projects
Arizona is receiving $82 million in federal stimulus money through the U.S. Environmental Protection Agency to develop water projects across the state, the agency announced Thursday.
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State projected to lose 167,800 jobs, Phoenix metro 128,300 in next two years
Arizona is expected to lose 167,800 jobs in 2009 and 2010, according to new estimates from the Arizona Department of Commerce. The Phoenix-Scottsdale-Mesa metro area is expected to take the biggest hit, losing 128,300 jobs.
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Ailing Phoenix-area resorts picking up some leisure business from canceled Mexico trips
Even though people may be deciding against getaways to Mexico or other destinations because of the swine flu outbreak, they still are seeking some downtime -- and Valley resorts are ready to pick up the slack.
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Coury citrus grove in Mesa up for sale
One of the last independently owned citrus groves in northeast Mesa is slated for residential development in the coming years.
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The future of private equity
Without the advantages of plentiful debt and rising equity markets, the private-equity sector faces many problems—the biggest of which is what to do with an estimated $1.02 trillion in committed but unused funds and a susceptibility to financial distress from even a small downturn in sales and EBITDA.Does this particular “deleveraging” crisis mark the end of the private-equity industry? The authors don’t think so, and explain why. Read their argument, then let us know what you think.Read more on the McKinsey Quarterly >

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