Daily Business Report-Oct. 26, 2016
San Diego City College Arts and Humanities and Business & Technology buildings in the San Diego Community College District. (Photo courtesy of San Diego Community College District)
Report: Community College District Pumps
$5.5 Billion Annually into San Diego Economy
The San Diego Community College District is responsible for fueling $5.5 billion of spending annually in the regional economy, enough to support more than 74,000 jobs, according to a new independent analysis by Idaho-based Economic Modeling Specialists International.
The additional $5.5 billion created by the SDCCD is equal to approximately 2.8 percent of San Diego County’s Gross Regional Product.
The 91-page study analyzes district spending in the 2015-16 fiscal year on everything from payroll to construction, in addition to the higher wages earned by current and former students that is attributed to the education they received at the district.
The district spent $261.9 million on payroll and benefits for 5,626 full-time and part-time employees, and an additional $258.4 million on goods and services to carry out its daily
operations. That investment leads to more spending across other businesses throughout the county, resulting in what is commonly referred to as multiplier effects.
“The San Diego Community College District is the largest workforce trainer in San Diego County. Countless numbers of students have benefited from career and technical education programs at City, Mesa, and Miramar colleges, and Continuing Education,” said Chancellor Constance M. Carroll. “We are proud to be playing a significant role in building the economic vitality of the San Diego region.”
Said Maria Nieto Senour, president of the district board of trustees: “This latest analysis underscores the impact we are having in building a better San Diego.”
Among the highlights of the report:
- Taxpayers provided $416.1 million of state and local funding to the district last year. In return, taxpayers will receive an estimated present-day value of $1.5 billion in added tax revenue stemming from the students’ higher lifetime earnings and the increased output of businesses. Savings to the public sector add another estimated $114.4 million in benefits due to a reduced demand for government funded social services in California. In all, for every tax dollar spent on educating students in the district, taxpayers will receive an average of $3.90 in return over the course of the students’ working lives.
- The state will benefit from an estimated $212.7 million in present-day value social savings related to reduced crime, lower welfare and unemployment, and increased health and well-being of current and former students.
- The average student who secures an associate degree from the district sees an increase in earnings of $12,400 each year compared to someone with just a high school diploma or equivalent. Over a working lifetime, this increase in earnings amounts to approximately $446,400 in higher wages.
(Photos courtesy of San Diego Community College District)
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Shea Properties Completes
Industrial Center in Carlsbad
Shea Properties announced the completion of Shea Center Carlsbad, a 119,408-square-foot Class A industrial center located on 8.29 acres in the Bressi Ranch area of Carlsbad. The project began construction in December 2015.
Shea Center Carlsbad includes two 59,704-square-foot, state-of-the-art industrial buildings, each with first and second floor offices, as well as a 50,000-square-foot warehouse space.
Two leases have been executed at Shea Center Carlsbad. In the building at 6313 Innovation, House of Air, an indoor trampoline park, has leased 32,227-square-feet. Acoustic Ales, a local brewery, has leased 27,477-
Colliers International brokers Chuck McNary and Erik McNary are handling the leasing for Shea Center Carlsbad.
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No Vacancies in California?
Housing Report Begs to Differ
California will have to build about 3.5 million homes over the next eight years, more than triple its current pace of construction, simply to keep up with expected population growth and hold down housing costs to affordable levels. But how could the state actually do it?
That question is the subject of a new report by the McKinsey Global Institute that lays out a long list of policy ideas — including many that would be contentious and politically difficult — to help the state step up housing production. Read The New York Times
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Record Donation to SDSU
Should Top $20 Million
Times of San Diego
San Diego State University will hold a press conference today to announce what it called the largest philanthropic gift in the history of the university — likely topping $20 million.
SDSU President Elliot Hirshman and the donor will speak at 3:30 p.m. outside Student Services East. No other details were released on the size of the donation or its source.
The largest gift to the university until now has been $20 million by the late Conrad Prebys, which endowed scholarships for about 150 students a year.
The university’s student center was named the Conrad Prebys Aztec Student Union.
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Badiee Development Plans Second
Escondido Industrial Campus
Badiee Development announced plans to develop the Escondido Innovation Park, an 86,010-square-foot, multi-tenant industrial campus located on 5.5-acres at 1925 Harmony Grove Road in Escondido
The three-building, Escondido Innovation Park, designed by Ware Malcomb, will offer suites ranging in size from 2,810-9,700 square feet each. The project will feature a 26-foot clear height, grade-level and dock-high loading, mezzanine space, and outdoor common areas. Badiee Development plans to break ground in the first quarter of 2017 with completion in the third quarter.
Colliers International is the listing broker for the park. TFW Construction is the general contractor.
Innovation Park was the second development announced recently by Badiee.
In August, it disclosed plans to develop the Escondido Victory Industrial Park, which would be the first new industrial development in Escondido in more than a decade. Escondido Victory Industrial Park consists of two buildings measuring 55,500 square feet and 35,500 square feet each. The project will break ground later this year.
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San Diego City Council Approves
$3 Billion Recycled Water Plan
By City News Service
The San Diego City Council voted unanimously Tuesday to certify an environmental impact report for the city’s nearly $3 billion plan to recycle wastewater into drinking water, and approved the plan itself.
Supporters of the so-called “Pure Water San Diego” program say it will provide residents and businesses with a stable, local supply of potable water that won’t be affected by drought or the uncertainties of future water imports.
The product will be purified and mixed with water from traditional sources before it’s delivered to customers.
A city staff report said city officials aim to begin delivering 30 million gallons of recycled water a day within five years. By the time Pure Water is fully implemented in about two decades, it will create 83 million gallons of drinking water per day. That’s 33 million gallons more than the output of the desalination plant that opened last year in Carlsbad.
The project will require the construction of water reclamation facilities, the creation of pipelines to deliver the water to area reservoirs and a way to divert runoff to those new plants, according to a staff report. Diverting the runoff into recycling plants will have the side benefit of reducing discharges from the aging Point Loma Water Treatment Plant, staff said. Staffers found 31 potential environmental impacts but said all could be mitigated.
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Bay City Plaza Shopping Center
Sold to Investor for $8.1 Million
Bay City Plaza shopping center in San Diego has been sold for $8.1 million to locally based Diversified Properties. The seller was the Lorah Family Trust.
The 34,051-square-foot center at 1515-1555 Palm Ave. is fully leased to a mix of retail tenants including Rent-A-Center, Advance America, Subway, Little Caesar’s, St Vincent de Paul, and a mix of established local tenants. Cushman & Wakefield represented the seller in the deal.
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San Diego Green Building Council
to Conduct Green Homes Tour Nov. 12
The San Diego Green Building Council will sponsor a Green Homes Tour of 10 homes on Saturday, Nov. 12, to showcase the innovative work of some of the design industry’s top professionals.
Home sites are located throughout the county, including Mission Hills, Pacific Beach, Poway, Ocean Beach, Leucadia, Chula Vista, Ramona, Jamul and Campo.
Now in its seventh year, the event brings together hundreds of members of the local community to celebrate best practices in green building and design. The diverse projects include sustainably remodeled residences, urban multifamily developments, luxurious custom homes and many projects that have achieved or are seeking LEED (Leadership in Energy and Environmental Design) certification, the top third-party verification system for sustainable structures around the world.
On the self-guided tour (which runs from 10 a.m. to 3 p.m.), attendees may visit as many of the homes as they would like, meet with industry professionals and learn more about the latest green home design, construction and upgrade options. Each eco-friendly project features a number of innovative, high-performance design features including impact areas such as energy, water conservation, building materials, indoor air quality, landscaping, and sustainable building sites.
Tickets are on sale at www.usgbc-sd.org/event. Green Building Council members are $10 and nonmembers are $15. Students are $5 (with I.D.) and children under 16 are free.
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Council Approves Community Plan
Updates for North Park and Golden Hill
The San Diego City Council on Tuesday unanimously approved the Community Plan Updates for the Greater Golden Hill and Greater North Park communities, an effort that began in 2009. Both plans earned the support of their respective Community Planning Groups.
“North Park and Golden Hill are two of San Diego’s most treasured communities. I am proud that the plans the Council approved today balance the priorities of preserving their rich historic character with responsibly locating growth so that new housing opportunities can encourage more climate friendly lifestyles,” said Councilman Todd Gloria. “These plan updates add new housing capacity to both of these communities, allowing new units to be built to address San Diego’s housing affordability crisis. I thank and commend the volunteers on our Community Planning Groups for their eight years of effort on these plans and for productively working on solutions to address San Diego’s housing needs.”
The Community Plans for Greater Golden Hill and Greater North Park were last updated in 1988 and 1986 respectively. Community Plans provide development regulations including maximum density and height for new housing and commercial projects. Although opportunities for growth existed under the old plans and have only increased modestly through these updates, both communities have very little undeveloped land and focused on concentrating higher intensity development along corridors with access to high quality transit, in line with the City’s Climate Action Plan.
