Daily Business Report-March 1, 2018
A rendering of the mixed-use development in Civita that will feature 103 affordable apartments for seniors and 203 affordable apartments for families, as well as 37,000 square feet of ground floor retail. (Rendering by KTGY)
Sudberry Properties Announces Two
Affordable Apartment Projects in Civita
Civita’s first mixed-use retail development, slated for ground-breaking this spring and opening in mid 2020, will include 103 affordable apartments for seniors and 203 affordable apartments for families, Sudberry Properties, the developer, reported Wednesday. A groundbreaking ceremony is scheduled on-site for April 12.
The project, located at the intersection of Civita Boulevard and Via Alta in Mission Valley, will include 37,000 square feet of ground-floor retail and seven floors of apartment homes, according to Colton Sudberry, president of Sudberry Properties, master developer of Civita. These additional apartments will bring the total number of affordable units in Civita to 456.
Sudberry Properties will own and manage the retail portion of the project. Retail tenants have not been announced.
The affordable units are being developed by Chelsea Investment Corporation, a real estate company focused on the financing and development of affordable housing, which also developed and manages Civita’s first affordable community for seniors, Versa.
Siena Apartments for seniors will include one- and two-bedroom floor plans and Stylus Apartments for families will include two- and three-bedroom floor plans. Siena apartments are designed for seniors in the “extremely low income” range (30 percent of the area median income) with rents anticipated to start at $500 per month. Rents at Stylus apartments, which are designed for families with 50-60 percent of the area median income, are estimated to start at $965. Affordable housing rents are set by the state.
The apartments will include three courtyards landscaped with picnic and barbecue areas, fitness equipment and outdoor entertaining areas. Both Siena and Stylus will include a large clubroom with a fully equipped kitchen for events and gatherings.
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Mariel Hemingway at San Diego Women’s Week
Renaissance woman Mariel Hemingway is not only an iconic Academy Award-nominated actor from a celebrated family, she’s a prolific author, mother of two successful models, documentary producer, and renowned healthy lifestyle brand founder. In a high-tech world, Mariel is considered an expert in high-touch solutions that facilitate the greatest sense of personal power, life balance, joy, fitness, authenticity, peace of mind and meaning.
She is one of the speakers at the Leadership Conference on March 23 — part of San Diego Women’s Week 2018 sponsored by the North San Diego Chamber of Commerce. The Leadership Conference is 8 a.m. to 4:30 p.m. at the Town and Country Resort and Convention Center in Mission Valley.
Women’s Week runs March 19-21-23. Click here for the schedule.
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Leading Economic Indicators
Jumped Sharply in January
The USD Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators for San Diego County rose 1.4 percent in January. For the second month in a row, all six of the components were up. Leading the way were big gains in building permits, help wanted advertising, and the outlook for the national economy. There were also moderate increases in initial claims for unemployment insurance and local stock prices, while consumer confidence was up slightly.
January’s gain was the second straight strong increase in the USD Index and the 15th month in a row where it had not fallen. The gain pushed the USD Index to an all-time high of 151.1, surpassing the previous high of 150.8 which was reached in May and June of 2000.
Given the strong performance of the USD Index, particularly in the last two months, the outlook for the local economy is positive at least through the end of 2018. Although they are unlikely to derail the local economy, there are some potential problems that could have some adverse impacts. One is the high cost of housing, which makes it more difficult for people to live in San Diego and which makes it difficult for local companies to attract workers. Another is a likely rise in interest rates, which would make purchasing a home here even more difficult.
Finally, something that won’t have an impact this year but might in the future is the recently passed federal tax bill. With its limitations on the deductibility of state and local taxes and mortgage interest, some people could see their taxes rise in the years ahead.
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Librede Awarded $1.49 Million Grant
from National Institutes of Health
Librede, an early stage biotechnology company in Carlsbad, has been awarded a $1.49 million Phase II Small Business Innovative Research Grant from the National Center for Complementary and Integrative Health, part of the National Institutes of Health, to further develop and scale its proprietary yeast-based cannabinoid production platform.
This new grant follows the successful completion of a previous Phase I award granted to Librede covering development of complete biosynthesis of cannabidiol (CBD) in yeast. This platform technology has been patented by Librede and will serve as the basis of an industrial scale pharmaceutical cannabinoid production system.
“By harnessing the power of genetic, metabolic and protein engineering, we have developed a highly robust system to produce the valuable therapeutics found in the cannabis plant,” said Anthony Farina, chief scientific officer.
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Philanthropist T. Denny Sanford Visits Brooklyn
School to Celebrate Sanford Harmony Program
Philanthropist T. Denny Sanford visited a school in Brooklyn on Wednesday — P.S. 282 — where the Sanford Harmony social emotional learning program is being used to help students increase communication, collaboration and accept differences. The program, based on the vision of Sanford, is now reaching more than 200,000 students in New York City and more than 1 million nationwide.
Sanford was joined at the school by representatives of the program’s national expansion effort, which is led by the San Diego-based National University System. The private, nonprofit System is advancing the program in collaboration with regional universities, such as Long Island University which oversees the expansion in the Northeast region of the United States. Read more…
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SDSU Student Research Symposium
Returns Friday and Saturday
The best and brightest San Diego State University students will present their original research at the 11th annual Student Research Symposium on Friday and Saturday in the Conrad Prebys Aztec Student Union.
The SRS serves as a public forum for SDSU students to present their original research, scholarship or creative activities in a variety of disciplines such as health nutrition, clinical sciences, biology, mathematics, humanities, business, public administration, engineering and computer science. The symposium will also showcase students’ visual and performing arts pieces. Presentations, including oral, poster, exhibit or performance, are organized by academic disciplines with divisions for undergraduate, graduate and doctoral students.
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SDSU Professor’s Mural
Welcomes Airport Visitors
Visitors to San Diego International Airport may notice a new artistic addition to the scenic airfield by the bay — a mural by Eva Struble, associate professor of painting and printmaking at San Diego State University. Stretching 144-feet-wide and 6-feet-tall, the mural is a combination of Struble’s previous works with an added digital component.
The piece, printed on vinyl and attached to aluminum sheeting, also incorporates scenes of endangered local plants and animals.
“The project taught me a different type of ideation,” said Struble. “I needed to imagine the project from a moving vehicle, from a plane taxiing in the distance, and also on a human scale.”
The art installation is located on Admiral Boland Way, between Sassafras and Palm Streets.
This is not the first time the airport has called on an SDSU professor to curate artwork. The airport art exhibition, “Point of Entry,” which ran through late 2017, was curated by faculty member Norma Iglesias-Prieto and featured the work of Professor Matthew Higgins.
The mural, which will remain on display until January 2019, is a part of the airport’s Temporary Exhibition Program.
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UC San Diego to Launch Data Science Institute
UC San Diego on Friday will officially launch the Halicioğlu Data Science Institute, a new entity on campus financed by a $75 million gift last spring from computer science alumnus Taner Halicioğlu. The interdisciplinary institute will train data scientists and develop new methods to make sense of data, which has transformed every aspect of our daily lives.
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Personnel Announcements
Stefano Molea Named Partner at The Law Office of David P. Shapiro
Stefano L. Molea has joined The Law Office of David P. Shapiro as partner. Before becoming a partner, Molea trained with prominent criminal defense lawyers in San Diego County.
He received his Bachelor of Arts degree in Philosophy with magna cum laude honors from the University of Redlands. Molea’s path to success continued when he graduated in the top eight percent of his class with magna cum laude honors from Thomas Jefferson School of Law. Molea moved from Italy to the U.S. when he was 10 years old, thus making him fluent in both English and Italian.
Molea has received several awards: Rising Star by Super Lawyers for the years 2016, 2017 and 2018; one of the Top 40 Criminal Defense Lawyers Under 40 in California for 2016 and 2018; voted Best of the Bar for Criminal Defense in 2016 by the San Diego Business Journal.
Molea serves on the board of directors for the San Diego Criminal Defense Bar Association, is a member of the California Public Defenders Association, California Attorneys for Criminal Justice and the National College for DUI Defense.
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San Diego Community College District
Celebrating Women’s History Month
San Diego City, Mesa, and Miramar colleges, along with San Diego Continuing Education, are celebrating Women’s History Month in March with an array of discussions, exhibits, films, and more that cover topics from poetry to women’s rights.
All events are free and open to the public. Click here for the schedule.
