Daily Business Report — Sept. 28, 2010
SDSU’s New Student Housing Proposal
San Diego State has released the draft Environmental Impact Report for Plaza Linda Verde, a proposed student housing and retail project on campus that would provide housing for up to 1,600 students and 90,000 square feet of retail space on a site just south of the SDSU Transit Center. If approved, the project would be constructed in two phases. The first would include housing for up to 600 students and 45,000 gross square feet of retail development, with on-site customer parking. The street-level retail development would serve both the campus and the surrounding community. Potential retail uses include a community grocery store, a national brand restaurant and a mix of other stores. A proposed second phase would include housing for up to 1,000 additional students and another 45,000 gross square feet of retail. Construction could start in three years.
University officials said Plaza Linda Verde will create an estimated 900 to 1,000 jobs each ear during construction and another 150 retail jobs annually. Sales tax revenue and fees in-lieu of property tax increment will be generated from retail properties. Plaza Linda Verde will be self-financed through the university and the city will not bear the burden of financing the project, according to officials. “Community input was instrumental in shaping the plans for Plaza Linda Verde,” said Bob Schulz, university architect. “This feedback has helped us put forward a project that we feel will be a benefit to both the university and the community.”
While SDSU owns the majority of land included in the first phase of the project, the university will seek several street vacations from the city of San Diego in order to develop the project as envisioned.
Release of the Draft EIR kicked-off a 45-day public review period. The public can submit written comments to SDSU through Nov. 10. The Draft EIR and instructions for submitting public comments can be accessed on the project website at sdsu.edu/plazalindaverde.
Louise McCabe Joins Troutman Sanders Firm
Attorney Louise M. McCabe has joined the law firm of Troutman Sanders LLP as a partner at its San Diego office. She joins the complex litigation and insurance and reinsurance practice groups. McCabe comes to Troutman Sanders from Nixon Peabody, where she was a partner in the firm’s complex commercial litigation and insurance and reinsurance groups. She was previously a tax manager at Touche Ross & Company (now Deloitte & Touche) in San Francisco, where she worked in all areas of federal, state and local taxation. McCabe has served as regional and national coordinating counsel for insurance companies. She received a bachelor’s degree from UCLA and a master’s degree and law degree from Santa Clara University School of Law.
Candidates to Speak on Green Issues
A green issues forum featuring candidates for national, state and local offices will be held on Oct. 2 in a program sponsored by the California Center for Sustainable Energy and the Sustainability Alliance of Southern California. It will be held from 2 to 5 p.m. at the California Center for Sustainable Energy, 8690 Balboa Ave., Suite 100, in San Diego. The forum will address sustainable energy, transportation, national security, water and land-use planning efforts. The public is invited. There is no admission charge.
Candidates who have confirmed their appearance are: Francine Busby, House of Representatives, 50th District; Duane Roberts, U.S. Senate; Office of Meg Whitman, California governor; Office of Chelene Nightingale, California governor; Crystal Crawford, Assembly, 74th District; Ralph Denney, Assembly, 76th District; Marty Block, Assembly, 78th District; Ron Roberts, county Board of Supervisors, 4th District; Stephen Whitburn, county Board of Supervisors, 4th District; Steve Gronke, county Board of Supervisors, 5th District; Howard Wayne, San Diego City Council, 6th District.
Invest Green Conference Comes to La Jolla
Ilya Fushman, an associate at a Silicon Valley venture capital firm that invests in green companies of the future, heads a list of experts appearing at an Oct. 16 program — “Invest Green: Sowing the Seeds of a New Economy” — sponsored by GreenSource Corp. and the Green Chamber of San Diego County. It is the first in a series of sustainability programs to be presented at the Salk Institute in La Jolla and will be held from 5 to 9:30 p.m. “San Diego is a beautiful city with many amenities and resources. Sustainability here in terms of industry players is widespread, but the principle is too far from fully realized,” said Tad Simmons, CEO at San Diego-based GreenSource Corp. “To develop this industry is to develop San Diego in a wise and inspiring direction.”
Presenters will focus on a variety of sustainable issues, ranging from water and energy resources to agriculture and transportation. Besides the appearance of Fushman, who represents Khosla Ventures, presenters scheduled to appear include:
• David Steel, CEO of the Green Chamber, who will provide remarks about the many growing sustainability companies in the San Diego region.
• Barbara Burton, a San Diego-based writer and public speaker from Inquiry International who focuses on ethics, branding and the social, environmental and financial responsibility of the corporation.
• Stewart Borie, an Encinitas-based strategic adviser specializing in all aspects of organizing and launching new business start-ups.
• Walter Kanzler, the founder of Eco Collaborative, an interdisciplinary sustainable design consulting practice based in Southern California.
• Armond Mehrabian, a senior consultant at Escondido-based Portofino Solutions, who will focus on strategies surrounding the smart grid.
• Dan Noble, co-founder and partner of the Escondido-based Resource Trends, a nationally recognized recycled resource market development firm.
• David Palella, founder of San Diego-based The Micro Revolutions Institute, a think tank that develops low-cost, micro-economic and micro-ecological systems for the developing world.
• Antranik and Ankist Zedeyan, owners of Clean Air Lawn Care, an environmentally friendly lawn care business in San Diego.
The cost to attend is $75, $20 for students, $65 per person for parties of two or more. To register, visit greensourceweb.com/InvestGreen/event.htm or call (760) 390-8350.
Renovations Completed at Village Green Apartments
A grand opening ceremony will be staged at 11:30 a.m. Thursday for the newly renovated Village Green Apartments in the Rolando neighborhood of San Diego. The $20 million renovation was an affordable housing project of the city of San Diego Redevelopment Agency and Wakeland Housing and Development Corp. The rehabilitation involved several upgrades to the complex and environmentally sustainable features. The apartments, located at 4140-4155 Bonillo Drive, have a mix of 78 two-bedroom and 14 three-bedroom units that are affordable to households at or below 60 percent Area Median Income.In 2010, the annual income for a family of four at 60 percent AMI is $47,100. Existing tenant relocation was minimal, officials said. Over 80 percent of current residents already satisfy the criteria. The rehabilitation project includes upgraded laundry, community room, pool and shower facilities, and state-of-the-art playground equipment. The project was completed with a local public subsidy provided to Wakeland Housing and Development, including $2.1 million from the San Diego Housing Commission and nearly $5.8 million from San Diego Redevelopment Agency funds pooled from Crossroads, College Grove, North Bay and City Heights Redevelopment Project Areas.
Property Sales:
• Cresta Verde Inc. has purchased a 6,886-square-foot multi-tenant retail building at 350 University Ave. in San Diego for $4.15 million. The seller was Southrail Equities LLC and CAM 350 Group LLC. The brokers were Chuck Klein, Kevin Held and Rick Reeder of Cassidy Turley BRE Commercial.
• Master Q Enterprises Inc. purchased a 2,697-square-foot office condominium at 2512 Catamaran Way, in Chula Vista, from Bank of America N.A. for $365,000. Phil Linton of Cassidy Turley BRE Commercial represented the seller in the transaction. Angel Wade of Coastal Properties Group Inc. represented the buyer.
San Diego Receivers Forum
The San Diego Receivers Forum will present “Receivership 101: An Overview of Receivership Law and Practice,” on Oct. 12 at the Campus Pointe Conference Center, Curie Conference Room, 10300 Campus Point Drive, in San Diego. Registration, networking and box lunch start at 11:30 a.m; the program runs from noon to 1 p.m. Panelists include Gordon Dunfee of the Law Office of Gordon E. Dunfee; Mike Essary, principal of Calsur Management & Realty; and Thomas Hebrank Sr., managing director of Douglas Wilson Cos. The program is designed for lenders considering the use of a receiver and individuals interested in serving as a receiver. Tickets are $25 for members and $30 for nonmembers. Rgister by Oct. 1 at sdreceivers.org. For more, call (949) 497-3673, Ext. 620.
La Costa Resort and Spa Ranks High in Readers Survey
La Costa Resort and Spa in Carlsbad was named the No. 4 spa in the Continental United States and Canada in Travel + Leisure’s “World’s Best Spas” readers’ poll. The spa received an overall score of 94. The readers’ survey rankings are included in the October issue of the magazine and online at travelandleisure.com.
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