Daily Business Report-March 17, 2017
San Diego skyline
No Surprise: San Diego is 2nd Most
Expensive American City for Renters
Ranked by Forbes and Marcus & Millichap
San Diego has been ranked the 2nd worst American city for renters, according to an annual list compiled by Forbes and Marcus & Millichap, a commercial brokerage and real estate research firm. The list covers 46 cities with the most investor interest, according to Forbes.
Forbes said the average rent in San Diego is $1,748. The rent as a share of household income is 30 percent.
In Miami, listed as the No. 1 worst city for renters, the average monthly apartment rent was put at $1,386. The rent as a share of household income is 36 percent.
Marcus & Millichap provided data on rental prices, vacancy rates and affordability, which go into thr ranking. It also gives Forbes information on employment and average mortgage payments in each city for context.
Forbes said Manhattan is by far the most expensive place to rent, with a $3,497 average. The average rent there eats up 54 percent of the average income.
On the other side, Indianapolis was listed as America’s best city for renters, with average rents at $806, eating up only 17 percent of the median household income for the city.
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Stone Brewery Demos Beer Brewed
From 100 Percent Recycled Water
San Diego’s largest brewery demonstrated craft beer Thursday made with 100 percent recycled water and the city’s leading beer fan proclaimed it “fantastic.”
“It is fantastic,” said Mayor Kevin Faulconer after sipping the beer at the Stone Brewery in Liberty Station. “There’s no better way to highlight the purity of this water.”
Stone, the nation’s ninth largest brewer, produced five barrels of the beer using water trucked in from the city’s Pure Water demonstration plant in Miramar.
“Stone has a long history of sustainability,” said Chief Operating Officer Pat Tiernan, adding that he welcomed having a stable supply of recycled water for his beer production.
He said changing sources of water during the long California drought posed challenges for his breweries because each required different processing. Water from the Colorado River, the state water project and the Carlsbad desalination plant has different properties, he noted.
The demo was part of the city’s ambitious, $3 billion project to get a third of its water from advanced recycling, with a goal of 30 million gallons a day by 2021.
City Councilman Chris Cate, whose district is home to most of San Diego’s craft breweries, said those businesses would welcome the recycled water and he hoped it could be made available sooner.
“There’s an opportunity for the city to actually get to the 30 million gallons a day sooner,” he said.
Steve Gonzalez, Stone’s senior manager of brewing and innovation, said the recycled water needed only the addition of some salts to be perfect for brewing.
For the test, he brewed a “straightforward beer” with three malts and three different hops, including two exotic ones from New Zealand to add a “tropical final note.”
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Breitbard Hall of Fame Moving to Petco Park
While Comic-Con Takes its Space in Balboa Park
The Breitbard Hall of Fame and Comic-Con International are moving to new spaces.
The Hall of Fame, founded by Bob Breitbard, will leave the San Diego Hall of Champions and relocate its 153 inductee plaques to new facilities in the Western Metal Supply Co. building on the main concourse at Petco Park. Comic-Con International will use the Hall of Champions’ space as the Comic-Con Center for Popular Culture.
The Hall of Champions will continue to host its numerous awards programs.
“Even as we prepare for our sister show WonderCon in Anaheim this month, we are excited to be part of this announcement. The Hall of Champions has our deepest appreciation in helping us to achieve this new chapter in Comic-Con history,” said a Comic-Con spokesman. “This center will provide a year- round interactive celebration of the innumerable aspects of popular art.”
“My father would be thrilled with this opportunity to move the Breitbard Hall of Fame to Petco Park to usher in the next phase of the Hall of Champions,” said Gayle Klusky, Breitbard’s daughter and Hall board member. “Dad set out to better San Diego and inspire San Diegans to reach their potential, and this new model will only allow us to more effectively fulfill and advance our mission and perpetuate his legacy.”
Many of the historical items in the museum, including “Bob’s office,” which included amazing sports pieces, will be housed at the San Diego History Center in Balboa Park.
Construction of the Hall of Fame facility is expected to be completed during the 2017 Padres season.
“Bob Breitbard was one of San Diego’s greatest sports leaders,” said Padres Executive Chairman Ron Fowler, who also serves as Chairman of the Board of the Hall of Champions. “The San Diego Hall of Champions is an important community asset and this move positions the organization for a bright, sustainable future. The Padres are glad to welcome the Breitbard Hall of Fame to Petco Park.”
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Community College District Board Supports
Extension of Bachelor’s Degree Program
The San Diego Community College District’s (SDCCD) Board of Trustees has joined a growing chorus of backers supporting state legislation to expand California’s community college baccalaureate pilot program and remove a sunset provision that would end the pilot project in 2023.
Supporters of Senate Bill 769 say the legislation is necessary for many reasons, including the need to improve certain provisions in the current pilot program, as well as to address the need to extend its reach to more institutions. Some growth in the program is also desirable given the projections indicating California must boost the number of baccalaureate degrees by 60,000 annually to meet future workforce demands.
“California needs more people with bachelor’s degrees if our economy is to thrive, and the California Community Colleges system is the most affordable institution in the country to offer a baccalaureate program,” said Maria Nieto Senour, president of the SDCCD Board of Trustees, which voted unanimously at its March 16 meeting to support SB 769.
Among the key provisions of SB 769 is removing the sunset provision, thus allowing more time for pilot programs to fully develop and be assessed. Some prospective students say they are hesitant to enroll in a pilot program for fear they may not complete the bachelor degree requirements before the sunset clause takes effect in 2023.
The bill also would expand the pilot program from 15 to 30 degrees, a move the bill’s author, state Senator Jerry Hill (D-San Mateo), says will allow the state to better assess its effectiveness by providing a larger sample size.
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Personnel Announcements
Lindsay Kotas Joins US Grant Hotel
The US Grant has announced the new hire of Lindsay Kotas as the new director of sales of the downtown San Diego hotel. Kotas brings over 13 years of sales experience to the recently refreshed and has an extensive background in the luxury hospitality market.
Prior to joining the hotel, she held the position of director of sales for the neighboring Westin Gaslamp Quarter and has experience holding positions as national sales manager and director of sales for Associated Luxury Hotels International.
A graduate of Arizona State University, she earned a bachelor’s degree and then worked in hospitality with Starwood at the Sheraton Wild Horse Pass Resort in Arizona.
