Daily Business Report-Aug. 12, 2013

Wisteria Cottage is the home of the La Jolla Historical Society. 

Renovation Planned for Historic,

109-Year-Old Wisteria Cottage

Hill Construction Co. of La Jolla has been selected to renovate and restore the iconic Wisteria Cottage, the 109-year-old structure that is home to the La Jolla Historical Society. “Over the years, Wisteria Cottage has experienced a number of small patchwork renovations and repairs,” said Ryan Hill, vice president of the construction company. “Working in conjunction with the La Jolla Historical Society and Ione Stiegler of IS Architecture, we’ll be transforming the interior into a world class gallery space, while updating all of the technical and regulatory elements, including adding an elevator for A.D.A. compliance.”

Other than restoring the original entrance from the front to the side of the building, changes to the Wisteria Cottage, located at 780 Prospect St. in the Scripps/Gill Cultural District, won’t be obvious from the street. “From an exterior viewpoint, nothing can change,” said Hill. “Our mandate is to maintain the historical integrity of the building while creating a museum-quality interior environment.”

Wisteria Cottage was built in 1904 and briefly occupied by the Seaman family before being sold to E. Virginia Scripps, half-sister of La Jolla philanthropist Ellen Browning Scripps. After Virginia’s death, ownership to the property was passed to her niece, who lived on the property until 1942 when the title went to Ellen Revelle. Mrs. Revelle bequeathed the property to the La Jolla Historical Society in 2008.

Realtors Group: Home Sales, Prices and Inventory are Up

Resale home sales in San Diego County picked up in July as did the number of listings on the market, according to the latest housing statistics from the Greater San Diego Association of Realtors. Compared to June, resale home sales were up 5 percent in July as the summer buying season hit full swing. Sales of condos and townhomes also increased – more than 8 percent compared to June, and 23 percent from a year ago. The median price of single-family homes sold in July was at $485,000, virtually unchanged from June, but up 23 percent from a year ago. Condos and townhomes saw a median price of $320,000 in July – an increase of 6 percent over the previous month, and 36 percent from a year ago. The increases mean more people are putting their homes on the market, the association said. By the end of July, the inventory of previously owned homes throughout the county surpassed 6,000 for the first time in a year.

“This is tremendous news,” SDAR President Linda Lee said. “Sales are up. Prices are up. Inventory is up. Everything is moving in the right direction and the fact that banks continue to be vigilant in who they lend money to means we’re not seeing the market trends that lead to a housing bubble. This is strong growth backed by a strong market and an improving economy.”

In July, the ZIP codes with the most sales of single-family homes include: 92127/Rancho Bernardo – 76; 92098/Carlsbad – 69; 92064/Poway – 61; 92056/Oceanside – 58; and 92026/Escondido – 54.

Filner Opponents to Host ‘Not Welcome Back’ Rally

Opponents of Mayor Bob Filner are scheduled to hold a “Not Welcome Back” rally at the Civic Center Plaza in Downtown San Diego at noon today, following his completion of a stint in a behavioral therapy program, City News Service reports. Filner’s lawyer, Irvine-based James Payne, said his client finished the program on Saturday, although he would not return to work this week. He said Filner would continue treatment as an outpatient. Rally organizers say the event is nonpartisan.

The mayor has been publicly accused of sexual harassment by 14 women, including two city employees, one of whom has sued Filner and the city. He also is being investigated for allegations of shaking down developers.

According to the city attorney’s office, the locks in the mayor’s office have been changed. A spokesman said the office agreed with the move but did not say why it was taken.

Pain Management Firm Purchases R&D Building

Millennium Laboratories, a clinical diagnostic company providing pain management services, has purchased a 73,756-square-foot R&D building at 15330 Avenue of Science in San Diego for $9.2 million. The buyer intends to occupy the space. The seller was Kearny-Trigate Ave of Sci LLC. Cushman & Wakefield represented the seller. The buyer was represented by Jones Lang LaSalle.

Sharp Establishes New Neonatal Research Institute

Sharp Mary Birch Hospital for Women & Newborns has established a new Neonatal Research Institute — a center designed to help give newborns the best possible start in life.  The institute will be led by Dr. Anup Katheria, who joins Sharp’s staff as director of neonatal research. Katheria leads the lnstitute with a $155,000 grant awarded to Sharp HealthCare Foundation from the National Institutes of Health. The grant will fund a study on later clamping of the umbilical cord and how it may benefit newborns. Sharp HealthCare will celebrate the launch of the institute at an Aug. 21 reception at The Grand Del Mar.

Marriage Equality Town Hall Set for Aug. 27

The issues of federal benefits and taxes for same-sex marriages will be discussed at a Marriage Equality Town Hall meeting from 6 to 8 p.m. on Aug. 27 sponsored by Congresswoman Susan Davis and the LGBT Community Center. It will be held at the community center at 3909 Centre St. in Hillcrest. Experts will speak on tax, immigration and constitution law to explain changes in the law and answer questions.

Space Exploration’s Future Examined at Sept. 10-12 Conference

The American Institute of Aeronautics and Astronautics will hold its SPACE 2013 Conference & Exposition Sept. 10-12 at the San Diego Convention Center. The conference theme is “Sparking Ingenuity and Collaboration to Enable Mission Success.” It will focus on what lies ahead for the community, including surmounting the budgetary and technological barriers necessary to advance space exploration. Subjects to be examined by the conferences’ speakers and panelists are: The current and future landscape for space exploration via a conversation with space executives; the evolving landscape of the space business model; space exploration for inspiration and profit; NASA’s asteroid redirect mission; aligning technology development to support space goals; and the way ahead for space weather monitoring.

John Koppa Rejoins Delta Systems Engineering

Delta Systems Engineering Inc., a professional consulting services firm, announced that John Koppa has rejoined the firm as their California integration project manager. based in its Oceanside office. Koppa’s career spans over 32 years in the water and wastewater industry. He has completed projects across the country, including the San Diego County Water Authority,cCity of San Diego, Southern Nevada Water Authority, Lake Washington Water Treatment Facility and Anheuser-Busch, among others.

Torrey Pines Investment Enters Partnership for Drug Development

Torrey Pines Investment, a San Diego-based specialty life-science investor, and BioMotiv, an accelerator company associated with The Harrington Project for Discovery & Development, have signed a multi-million dollar joint investment framework to fund early stage life-science programs and companies over the next seven years. The agreement will fund innovative ideas emerging from research institutions with a focus on creating new medicines by quickly and cost-effectively moving platforms, compounds, and candidates from early-stage development through clinical proof-of-concept, the companies said. Investments are planned across multiple therapeutic areas and disease targets.