Daily Business Report-March 1, 2017
Mariel Hemingway to speak March 22 at San Diego Women’s Week Dare to Dream event.
Dare to dream through the inspiring
story of Mariel Hemingway’s life
Renaissance woman Mariel Hemingway is not only an iconic Academy Award-nominated actor from a celebrated family, but she is also a prolific author, adventurist, eco activist, healthy lifestyle and mental health advocate, a yoga video star, an entrepreneur and a much-sought-after speaker focused on mind-body-spirit and purposeful living.
Hear Mariel speak at San Diego Women’s Week Dare to Dream event on Wednesday, March 22. To join us for the event log on to www.SDWomensWeek.com.
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81-Unit Luxury Housing Project Planned
For the Midway District of Point Loma
K&K Veritas LP, an affiliate of Veritas Urban Properties and Bishop & Company, has obtained a $12.73 million construction loan to build an 81-unit luxury housing development in the Midway District of Point Loma.
The Class A mixed-use building — to be called Driftwood — will include 3,137 square feet of retail space. Murfey Construction is the general contractor.
Driftwood will be situated on a two-acre lot at the corner of Kemper and Kenyon streets. The site is currently an empty lot adjacent to the new $18 million West City community college campus. Two major outpatient health care facilities, Sharp Healthcare and Kaiser Permanente, are in the vicinity. Two grocers, a 24-Hour Fitness, Target, Home Depot and Dick’s Sporting Goods are within walking distance from the property, which is two miles from the Liberty Station master-planned community.
Driftwood will consist of stacked flats within a three-story, elevator-serviced building with interior common hallways and stairwells. Units will feature a full stainless steel appliance package, soft-close drawers, granite or quartz countertops with undermount sinks, stained concrete or ceramic tile floors and carpet in the bedrooms, and most units will have private balconies. Community amenities include a communal courtyard with hot tub, barbeques, lounge areas and on-grade parking with 109 stalls.
Holliday Fenoglio Fowler L.P. arranged the financing for the developer, placing the two-year construction loan with Pacific Western Bank. The HFF debt placement team was led by senior managing director Aldon Cole, director Bryan Clark and associate director Chris Collins. Holliday Fenoglio Fowler
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Plaza-Style Restaurant Scheduled
For Carlsbad Village Property
An 8,000-square-foot, multi-level, plaza-style restaurant is set to open in April in Carlsbad Village under the ownership and management of local partners Peter Cich, Doug Sondomowicz and Rob McShea. Development costs were put at $5 million.
“Park 101 will be unlike anything in the area, bringing a fresh dining, drinking and ‘grab and go’ concept to this coveted seaside village,” the developers said in a release. The location is 3040 Carlsbad Blvd., Carlsbad.
For “on the go” visitors, the market will feature an old fashioned, street-side walk-up window, serving sandwiches, ready-made juices, fresh expresso and coffee, ice cream sandwiches as well handmade doughnuts.
Across the plaza, where Park 101’s indoor/outdoor Garden Pub will offer a variety of up to 32 local tap beers and a wide selection of regional wine offerings. Also on the property, Park 101 Barbecue will serve BBQ specialties.
Park 101’s Tamarack View Deck will feature a rooftop lounge with fire pits and seating areas, where gourmet snacks and views of Carlsbad Village.
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New Fairfield Inn & Suites in San Marcos
Boasts the County’s First In-Hotel Robot
RAR Hospitality, a San Diego-based hotel management company, announced the April opening of its ground-up project and first property in San Marcos — Fairfield Inn & Suites San Diego North/San Marcos.
The 60,252-square-foot property was jointly developed with Sea Breeze Properties, master developer of Urban Villages San Marcos, and will feature four floors, two meeting spaces and a total of 116 total rooms and suites.
Construction was by Ledcor Group with JWDA as architect.
Along with a new hotel, San Marcos is also receiving San Diego County’s first in-hotel robot. The robot is developed by Savioke, and communicates with guests through typed messages that appear on the display screen. The robot will deliver food, towels and other travel necessities to guest rooms.
Fairfield Inn & Suites San Diego North/San Marcos has appointed Dallas King as general manager and Michelle Shullo as director of sales for the property.
RAR Hospitality currently manages 23 hotels and has plans to add several properties this year.
Fairfield Inn & Suites San Diego North/San Marcos is located at 227 West San Marcos Blvd., San Marcos.
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California Called Toughest State
For First-Time Home Buyers
A combination of low affordability and high unemployment among Millennials makes California the toughest state for first-time home buyers.
That was the conclusion of a report released Tuesday by BankRate.com, a consumer financial services company based in New York City.
“We found California, New York, Texas, Colorado, Oregon and Massachusetts — states with large metro areas that are attracting young Millennials — are among the 10 worst states for first-time home buyers,” said BankRate.com.
The best states were mostly in the Midwest and West, with Iowa, Utah and Minnesota ranked as the top three.
The bottom three were California, Hawaii and New York, in that order.
California ranked 49th on home affordability, availability and under-35 home-ownership percentage, and 41st on high Millennial unemployment.
BankRate.com said the news isn’t all bad because mortgage rates are still very low by historical standards, allowing Millennials to afford pricier homes. In addition, first-time buyers have access to Federal Housing Administration loans that allow them to make a down payment of as little as 3.5 percent of the purchase price.
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Air Force to Transition to
General Atomics-Built MQ-9 Reapers
ExecutiveGov
The U.S. Air Force prepares to transition to the General Atomics-built MQ-9 Reaper remotely piloted aircraft this year as the service branch plans to retire its MQ-1 Predator RPAs in 2018 in an effort to build up readiness and keep pace with the changing combat environment.
The 20th attack squadron at Whiteman Air Force Base in Missouri has begun the transition phase for MQ-9 drones, the Air Force reported Thursday.
Col. James, commander of the 20th attack squadron, said the squadron plans to cease operations of its MQ-1s by July 1 in order to exclusively fly Reapers by the end of this year.
“Having a single aircraft buys more flexibility, simplifies training and logistics and gives our people more (career progression) opportunities,” said Col. Joseph, commander of the 432nd operations group.
The MQ-9 Reaper drone is equipped with high-definition sensors and designed to carry up to 4,000 pounds of missiles, bombs and other weapon payloads.
The RPA also works to support missions such as close air support, intelligence, surveillance, reconnaissance, combat search and rescue and precision strike operations.
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‘Super Bowl’ of Horse Racing Worth
$100 Million to San Diego Economy
The Chargers may have left, but the “Super Bowl of horse racing” is coming to Del Mar in November and will be worth $100 million to the San Diego economy.
The mayors of Del Mar and San Diego joined horse racing executives Tuesday to announce the start of ticket sales and detail millions of dollars in upgrades to the iconic racetrack to accommodate the 34th running of the Breeders’ Cup.
Tickets go on sale at 9 a.m. Pacific time on Monday, March 6, and are expected to sell out quickly with attendance capped at 37,500 people on each of the two days of the event. Single-day tickets range in price from $35 to $375 on Nov. 3 and $50 to $500 on Nov. 4.
“We are thrilled to bring Breeders’ Cup to Del Mar for the first time this fall,” said Craig Fravel, president and CEO of the event. “Together with the Del Mar Thoroughbred Club and the local Del Mar, Solana Beach, and San Diego communities, we have been working tirelessly to enhance every element of the fan experience.”
A total of $4.5 million has been spent to upgrade the track and add 2,700 premium seating options, including a $1.5 million chalet village at the west end of the stretch run. “This is not your grandmother’s Del Mar,” said Fravel.
San Diego Mayor Kevin Faulconer estimated the two-day event will be worth $100 million to the local economy and be a significant public relations coup for both San Diego and Del Mar. “Millions of people will be watching the event on television across the globe,” he said.
The races will also be an opportunity for public art. Del Mar Mayor Terry Sinnott said 20 full-size horse models would be painted by San Diego-area artists and displayed in communities around the racetrack.
Hall of Fame Jockey Mike Smith, who has won 25 Breeders’ Cup races, said he believed the Del Mar championship would be “probably the best one ever” and talked about the prospects for Arrogate, a top horse he is currently racing.
“I’m just very happy I’m the guy to keep the weight on his back,” said Smith.
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Apple to Open $5 Billion
Silicon Valley Campus in April
Commercial Property Executive
Cupertino, Calif .— The doors of Apple Park, Apple Inc.’s $5 billion campus project in Cupertino, will swing open to the tech giant’s employees for the first time in April. Envisioned by late CEO Steve Jobs, the 2.8 million-square-foot development will ultimately be home to 12,000 workers.
Commonly likened to a spaceship, the Foster + Partners-designed Apple Park is shaped like a ring and boasts the largest panels of curved glass in the world. In addition to state-of-the-art office and R&D accommodations, the campus will feature a visitors center with an Apple Store and a public café; a 100,000-square-foot fitness center; and the 1,000-seat Steve Jobs Theater. The property will also offer ample green space, including parklands with two miles of walking paths, an orchard, meadow and a pond. And adding to the property’s ethereal aesthetic — as well as its energy conservation efforts — will be a vast 17 megawatt rooftop solar array. Apple Park will hold the distinction of being the largest naturally ventilated building in the world.
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Personnel Announcements
Oster and Associates Adds Public Relations Intern
Oster and Associates announced the continuation of its internship program with the addition of Ashley Lawson as a public relations intern. Lawson recently started at the branding and public relations agency in Hillcrest where she will be an intern for her spring semester at San Diego State University.
Lawson is pursuing a bachelor’s degree in journalism media studies with an emphasis in media studies and a minor in political science. Her previous internship experience was with a start-up in Torrance that specializes in espresso subscription deliveries. She assisted with the company’s social media efforts.
Lawson is graduating in May. She intends to start a career in social media marketing, either in-house or at an agency, in an industry that lines up with her personal interests of clothing, restaurants and animals
“We’re happy to offer interns a taste of agency life while they’re still in school to help them decide if an agency is the best fit for them after graduation,” said Bev Oster, president and creative director of Oster and Associates.
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Smith Consulting Architects Names Director of Business Development
Kristina Lekas has been named director of business development at Smith Consulting Architects.
In her new post, Lekas will develop and maintain relationships with clients, brokers and contractors to generate project leads, and create strategies and solutions designed to secure those new business opportunities. She is also charged with coordinating the company’s public relations activities, maintaining social media sites and attending industry functions, and guiding the firm’s design teams.
Lekas previously worked as evening operations manager for Bay Club Carmel Valley, one of San Diego’s athletic clubs, where she was employed for two years. There she was responsible for managing all aspects of the club’s operations.
Previous career experience includes having served as business development manager for Modis, a San Diego IT and engineering staffing firm. Prior to that, she served as a recruiter for Insight Global, a provider of staffing and managed services.
Lekas graduated from the University of Oregon, where she earned her Bachelor of Science degree in political science and sociology.
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Elizabeth Morris Reappointed to California Housing Partnership Corp.
Elizabeth Morris, 69, of San Diego, has been reappointed to the California Housing Partnership Corporation by Gov. Jerry Brown. She has has served on the agency since 2013.
Morris has been principal at E.M. Advisors since 2008. She served in several positions at the San Diego Housing Commission from 1979 to 2008, including president and chief executive officer. The position requires Senate confirmation and there is no compensation. Morris is a Democrat.
