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> Critics say Moody's overstates Phoenix-area water problems. Red alert: A Moody's Analytics’ report warns that “between 2030 and 2040, ‘100% of Maricopa County's projected population will have high or red flag (highest) exposure to water stress.”
Zeroing in on CRE: The report’s author, Natalie Preudhomme, says the recent “‘state announcement of water shortfalls is ‘potentially a canary in the coal mine’ for Phoenix's commercial real estate.”
No sector spared: “Manufacturing… Data centers… Hotels and other recreational facilities… ‘All … are likely to be affected by this water situation… It will affect the rate and viability of development,” Preudhomme says.
But is Moody’s all wet? The study is getting slammed, “not least because its first sentence said inaccurately that Arizona placed limits on housing development in Phoenix. The five-page report also didn't define water stress or disclose its data.” Phoenix Water Resources Manager
Cynthia Campbell: "If they are suggesting that somehow access to water can be complicated and difficult… well sure… But if you're talking about 100% of Maricopa County's projected population will have to worry about water, I completely reject that.’” Director of ASU’s Kyl Center Water Policy,
Sarah Porter: “The headline for Moody's report is a story about 'water stress strikes developers.' But the way water supply rules work, the development can continue in places that have sufficient water supplies,’ Porter said.”
More from Moody’s report and reaction to it in Daily Star. https://bit.ly/4691Bdc
As a supplement to the Dealmaker, we thought you might enjoy these articles!
TODAY’S QUOTE
“Now is not the time to put corporate profits ahead of the lives of our constituents who may want to board a commercial flight in the future. A vote to reduce a 1,500-hour rule for pilot training will mean blood on your hands when the inevitable accident occurs as a result of an inadequately trained flight crew.”
~ Sen. Tammy Duckworth, D-Ill., attacked an amendment backed by Sen. Sinema, I-Ariz., to reduce a 1,500-hour rule for pilot training.
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