Daily Business Report-Oct. 11, 2018
Rendering of the center bar (now completed) at Viejas Casino & Resort. (Courtesy of iGroup Design)
Viejas Casino & Resort completes
seven-year expansion project
Viejas Casino & Resort announced the completion of its seven-year renovation and expansion. Since initiating the project in 2011, the Viejas tribe has constructed three hotel towers, redesigned the entire property, and launched a new and extensive center bar and high limit gaming area. The project completion follows closely behind the opening of Viejas Casino & Resort’s recently developed adult-only destination, Willows Hotel & Spa.
“Our new center bar, which is the biggest in the San Diego area, will be a popular meet up point in the casino. We’re looking forward to having our guests finally experience it,” said Robert Welch Jr., chairman of the Viejas Band of Kumeyaay Indians and Viejas Casino & Resort.
The new 1,900-square-foot, 360-degree center bar includes 50 seats with gaming machines at each seat, 18 65-inch televisions wrapping around the entire bar and caters to both small and large groups. The center bar has its own 24-hour sports bar-style food menu, and features an extensive alcohol list, with wine and beer on tap including the recently launched Viejas Golden Blonde, a blonde ale created in collaboration with Mission Brewery.
The 15,415-square-foot high limit gaming area includes more than 80 new slots and poker machines, and eight exclusive High Limit Tables games, created for those looking for an exclusive high-stakes wagering experience.
The third and most recently constructed hotel tower is home to Willows Hotel & Spa, which opened in February 2018. Willows Hotel & Spa has 159 VIP suites, luxury spa facilities, a fitness center, signature restaurants, including Locale Kitchen & Lounge, Ginger Noodle Bar and Daily Roast, as well as an expanded gaming space.
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New owners of Carlsbad Village
Lofts plan mixed-use development
Wermers Properties and R&V Management have completed the acquisition of Carlsbad Village Lofts, a property in Carlsbad with plans to develop a residential mixed-use community befitting of the upscale coastal city. Carlsbad Village Lofts is located west of the 5 Freeway on Carlsbad Village Drive. The project includes approximately 9,500 square feet of retail and 106 residential apartment units.
“Carlsbad Village Lofts contributes to the need for new housing and fresh retail in Carlsbad Village. As a Carlsbad resident myself, we understand and appreciate the city’s requirements,” said Austin Wermers, development manager for the project at Wermers Properties.
A few of the project’s key features and amenities may include new retail options, an entertainment club room and full fitness gym as well as landscaped private courtyards, a rooftop deck and a swimming pool and spa.
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Neurocrine Biosciences and Boston
biotech in research collaboration
San Diego-based Neurocrine Biosciences Inc. and Jnana Therapeutics Inc. of Boston have entered into a research collaboration aimed at discovering novel small molecule therapeutics for multiple targets for central nervous system disorders. The collaboration will leverage Jnana’s proprietary drug discovery platform across the solute carrier family of transporters and Neurocrine’s research and development expertise in central nervous system disorders to advance new medicines.
Under the terms of the agreement, Neurocrine and Jnana will work jointly to identify novel compounds, after which time Neurocrine will be responsible for further lead optimization, and the development and commercialization of any potential therapies arising from the collaboration. Neurocrine will also provide Jnana with one-time access to a subset of its compound library for Jnana to screen for hits on a select number of non-central nervous system targets. As part of the collaboration, Jnana will receive an up-front payment and committed research funding to support discovery efforts. In addition, Jnana is eligible to receive milestone payments and royalties based upon products resulting from this collaboration.
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Ligand Pharmaceuticals completes
acquisition of Vernalis plc
Ligand Pharmaceuticals Inc. in San Diego announced that its acquisition of Vernalis plc has successfully closed and Vernalis will now operate as a subsidiary of Ligand. Vernalis is a structure-based drug discovery biotechnology company with a broad pipeline of partnered programs and ongoing collaborations. In conjunction with this event, Ligand announced that its portfolio now contains more than 178 shots on goal.
Ligand made an offer to acquire Vernalis on Aug. 9 for approximately $43 million in cash.
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New solar projects to deliver renewable
energy to SDG&E customers
A newly built solar plant is providing clean, renewable energy to customers who signed up for San Diego Gas & Electric’s EcoChoice and EcoShare programs, the utility reported Wednesday. The new solar plant and two more that are in development will deliver a combined 42.4 megawatts (MW) of additional renewable energy to the San Diego region, enough to power about 31,800 homes.
The Midway Solar III project, owned by Greenbacker Renewable Energy Company, began delivering energy in September. The 20-MW solar power plant, which is located in the Imperial Valley, is the first to be built to serve customers enrolled in SDG&E’s EcoChoice program.
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USD lecture series Oct. 23 to explore
military impact on San Diego real estate
The Burnham-Moores Center for Real Estate at the USD School of Business will hosts its next lecture series program Oct. 23 on the topic, “The Military and its Impact on Real Estate in San Diego. Rear Adm. Yancy B. Lindsey, commander of Navy Region Southwest, will address the strategic importance of San Diego to the military, the economic impact of the military and land and space requirements of the military. He will also emphasize the urgent need of housing for its increasing number of service members.
Following Lindsey, a panel moderated by David Graham, deputy chief operating officer of neighborhood services of the city of San Diego, will discuss details related to real estate on local installations, including the Navy Pier, SPAWAR and more. Panelists include Lindsey; Christopher Pascale, senior vice president at CBRE; and Philip Rizzo, vice president for operations of Lincoln Military Housing.
General registration for the event, which includes breakfast, costs $90. The event will be held at The Alexandria at Torrey Pines, Illumina Theater, 10996 Torreyana Road, San Diego, CA 92121.
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More than 30,000 researchers and others
expected at Neuroscience 2018 in San Diego
More than 30,000 neuroscience researchers, clinicians, and advocates from around the world will convene in the San Diego Convention Center Nov. 3-7 for Neuroscience 2018 to explore and uncover the vast wonders of the brain. The annual meeting of the Society for Neuroscience, Neuroscience 2018, is the world’s largest source of emerging news and a global showcase of the latest developments in brain science.
The meeting will have a tremendous impact on the San Diego region, according to the San Diego Convention Center Corp., which estimates the meeting will generate close to $90 million in local business revenue. This is the seventh time SfN’s annual meeting will be held in San Diego, following the convention center’s expansion. It was first held in the city in 1973.
With nearly 14,000 scientific presentations, more than 500 exhibitors, and numerous workshops and networking events, Neuroscience 2018 showcases the incredible breadth of neuroscience and the tremendous impact brain research has on society’s health and well-being, while previewing the latest research innovations in the field.
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‘Pink Patch Project’ is deeply personal
for Cal State San Marcos police
University Police uniforms at Cal State San Marcos have a special touch of pink this month as officers participate in the Pink Patch Project, a nationwide effort to raise awareness in the fight against breast cancer.
“It’s a cause that is personally important to me,” said Lt. Philip Brust, who brought the initiative to the university three years ago. “Breast cancer is a terrible disease that destroys the lives of so many, and I am fully committed to finding a cure.”
Brust knows firsthand the devastating impact of breast cancer. A few years ago, he lost his mother, Dorothy, to breast cancer, and then shortly after, his sister, Kay, was diagnosed with the disease. And although his sister has been living cancer-free for four years now, the fear of the cancer returning, like it did for their mother, weighs heavily on the family.
Every year, more than 40,000 women and men die in the U.S. from breast cancer, and approximately one in eight women will be diagnosed with breast cancer in their lifetime.
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Personnel Announcements
Kay Grimes joins Davidson Communities as VP of operations
Building industry professional Kay Grimes has joined Davidson Communities as vice president of operations. Her responsibilities include budgeting, value engineering, operations management, process development, negotiations, product specifications, and consultant and contractor relations.
Grimes’ first assignment at Davidson is to assist with the final phase at The Estates at San Elijo Hills in San Marcos.
With 21 years of experience in the homebuilding business, Grimes has earned recognition for her high ethical standards, professionalism and productivity. She was named Industry Professional of the Year in 2013 by the San Diego Building Industry Association and was presented with the BIA’s Chairman’s Award for outstanding contribution to the industry in 2010 and 2014. Most recently she served as the co-chair of the 2018 ICON Awards, presented by the BIA to honor excellence and commitment of its membership.
Davidson Communities President Bill Davidson said Grimes opened 13 model complexes for her previous employer in an 18-month time period in 2017-2018.
Her record of achievement includes her recent honor as 2018 Volunteer of the Year for the San Diego/Desert chapter of the Crohn’s and Colitis Foundation. Her long-time involvement there includes multiple terms on the board of trustees and as board president. Through her participation in the Team Challenge half-marathon and triathlon programs, she has raised over $100,000 for the organization.
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Brown Law Group announces new
associates Jasmine Berndt and Sarah Abshear
Brown Law Group, a business litigation firm, has named Jasmine Berndt and Sarah B. Abshear as new associates in the San Diego law office.
Berndt’s practice focuses on employment law and related litigation at the state and federal level. She has experience drafting and arguing motions, negotiations, and litigating cases in both state and federal courts.
Prior to joining Brown Law Group, Berndt worked as an attorney with the Law Office of Michael S. Berg, where she represented criminally accused defendants at the trial level in both state and federal courts.
Berndt has helped individuals and corporate clients defend against criminal charges based on willful violations of insurance and safety regulations, fraud and other law violations. She served on the board of directors for the San Diego Criminal Defense Bar Association, and is a member of the Lawyers Club of San Diego and the San Diego Bar Association.
Abshear specializes in litigating employment and business cases for employers, including employee claims of wrongful termination, discrimination, harassment, retaliation, and wage and hour violations. She also works in the areas of breach of contract claims, class actions, and disputes with competitors or former employees. Her previous experience covers business and complex commercial litigation across multiple industries. She has experience with all stages of case development, from initial claim assessment to post-trial motions and appeals, in federal, California, and other state courts.
