Daily Business Report: Wednesday, Nov. 17, 2021
Northrop Grumman announces team for NASA’s
next-generation Lunar Terrain Vehicle
Northrop Grumman Corporation is teaming up with AVL, Intuitive Machines, Lunar Outpost, and Michelin to design a Lunar Terrain Vehicle to transport NASA’s Artemis astronauts around the lunar surface.
This team provides multi-disciplinary expertise that is ready to deliver an innovative solution to NASA for lunar surface mobility.
“Together with our teammates, we will provide NASA with an agile and affordable vehicle design to greatly enhance human and robotic exploration of the lunar surface to further enable a sustainable human presence on the Moon and, ultimately, Mars,” said Steve Krein, vice president, civil and commercial space, tactical space systems division, Northrop Grumman.
TOP PHOTO: The Northrop Grumman-led team will provide NASA with an affordable and sustainable vehicle design that will expand human and robotic exploration of the lunar surface. (Courtesy Northrop Grumman)
$1.2 trillion infrastructure bill could supercharge
San Diego’s envisioned rail expansion
San Diego has a rare opportunity, thanks to the $1.2 trillion infrastructure spending bill signed by President Joe Biden on Monday.
Over the past three years, top transportation officials for the region have drafted a $160 billion blueprint that would, among other things, expand transit, improve cross-border goods movement and relocate train tracks threatened by coastal erosion.
If San Diego voters approve a half-cent sales tax hike on the November 2022 ballot, the region would be well positioned to compete for billions of dollars in federal grant money under the Infrastructure Investment and Jobs Act.
However, without the local matching funds, officials fear they could miss out on a once-in-a-lifetime opportunity.
San Diego investment firm acquires apartment
buildings in University Heights and Normal Heights
San Diego-based investment firm TGP Ventures has acquired apartment buildings in University Heights and Normal Heights for a combined price of $4.2 million. The seller was a private local investor, who executed a 1031 exchange and purchased a multifamily property in Denver.
The University Heights apartments are located at 4059 Louisiana St. and contain six two-bedroom units. They were originally constructed in 1987.
The Normal Heighs apartments are located at 4539 36th St. The two-story building was originally constructed in 1976. It contains six one-bedroom apartments and one three-bedroom apartment.
CBRE’s John Newton represented the seller.
U.S. Chamber of Commerce awards
North San Diego Business
Chamber with 5-Star accreditation
The U.S. Chamber of Commerce has awarded North San Diego Business Chamber its 5-Star Accreditation designation for its sound policies, effective organizational procedures and positive impact on the community.
“North San Diego Business Chamber receiving this accreditation is truly an acknowledgement of their excellent work,” said Raymond P. Towle, U.S. Chamber vice president of federation relations and Institute for Organization Management. “Accredited chambers are recognized for their ability to serve as a resource to their region’s businesses while maintaining transparent governance practices, sound financial controls, safe work environments, effective communications, and value in programming. They are commended for their continued advocacy of free enterprise and for this tremendous accomplishment.”
“There are only six accredited chambers in the state of California with ours being the only organization in San Diego County to receive this accreditation,” said Debra Rosen, president and CEO of the North San Diego Business Chamber. “Without our valued members and sound policies, this renewal of the accreditation would not have been possible.”
Cal State San Marcos closer to
$60 million for science complex
Cal State San Marcos has moved a big step closer to securing nearly $60 million to build a major science and engineering complex to help the university train workers in a region teeming with such STEM-oriented companies as ViaSat, Genentech, and Thermo Fisher Scientific. Pending approval by the state Legislature, plans call for a two-wing building that might be expanded; the campus says it will try to raise about $20 million in private donations to enlarge the wings.
The new building “could take us to an entirely different level in the next phase of who we are,” said Ellen Neufeldt, who began serving as the school’s fourth president in July 2019.
County awarded grant for bicycle
and pedestrian safety program
The County Health & Human Services Agency, Department of Homeless Solutions and Equitable Communities has received a $125,000 grant from the California Office of Traffic Safety (OTS) to improve the safety of bicyclists, pedestrians and scooter riders.
Grant funds will pay for a comprehensive safety program that will teach valuable skills for all types of road users.
The services, which will run through Sept. 30, 2022, will be provided by Circulate San Diego.
This safety campaign aligns with Live Well San Diego, the county’s vision for healthy, safe and thriving residents and communities.
Sanford Burnham Prebys professors
among world’s most highly cited researchers
Two researchers from Sanford Burnham Prebys have been included on Clarivate’s 2021 Highly Cited Researchers list, a ranking of influential researchers around the world based on the number of times their work has been cited in peer-reviewed publications over the last decade.
Jerold Chun, M.D. —Unraveling the mysteries of the brain
Jerold Chun’s discoveries have shaped our understanding of the brain. His group was the first in the world to identify genetic mosaicism and somatic gene recombination in the human brain, helping shed light on what causes Alzheimer’s disease and how it may be treated with existing drugs that can block the creation of gene variants. His ongoing work on the brains of people with Down syndrome is also helping to reveal why these people invariably get Alzheimer’s later in life.
Randal J. Kaufman, Ph.D. — Discovering how proteins fold
Randal J Kaufman has a legacy of scientific contribution that extends across academia and industry alike. His landmark studies in the 1980’s contributed to the discovery of the unfolded protein response, a ubiquitous cellular stress response that occurs when misfolded proteins accumulate in cells. This response has been associated with an enormous array of human disease, including cancer, neurological, metabolic, genetic and inflammatory disorders, as well as the symptoms associated with aging.
Qualcomm sets new growth target:
from $100B today to $700B in next decade
Qualcomm Inc. said Tuesday that it expects its chipset business to grow from $100 billion today to $700 billion in the next decade as more devices become connected.
“Qualcomm is at the beginning of one of the largest opportunities in its history, enabling a world where everyone and everything is intelligently connected,” said Cristiano Amon, president and CEO. “Qualcomm is uniquely positioned to grow across multiple industries in addition to handsets, with a rapidly diversifying business that is not defined by any one single industry or customer.”
Marcus & Millichap arranges loan
for purchase of Elan Village
Marcus & Millichap Capital Corp. has arranged $19.5 million in financing for the acquisition of Elan Village North in Oceanside by a private investor. The 10-year fixed loan has a 30-year-term. Elan Village North is located at 854 Vine St.
Chad O’Connor, executive managing director, capital markets, in Marcus & Millichap’s San Diego Del Mar office, exclusively financed the deal for the private investor.
The units come with newly remodeled kitchens, private balconies, and a spa and pool for tenant-use.
County receives grant for child
safety seat education program
The County Health and Human Services Agency (HHSA) has received a state grant to educate parents and caregivers on how to properly secure children in a safety seat.
The $249,999 grant from the California Office of Traffic Safety (OTS) will pay for a variety of community outreach events, education classes and training on the installation and use of child safety seats. The program runs through September 2022.
This safety campaign aligns with Live Well San Diego, the county’s vision for healthy, safe and thriving residents and communities.
Funding for this program was provided by a grant from the California Office of Traffic Safety, through the National Highway Traffic Safety Administration.
S.D. Women’s Foundation launches
the A.J. Frank Fund
The San Diego Women’s Foundation (SDWF) is launching the A.J. Frank Fund in recognition of a legacy gift left by a recently departed member, A.J. Frank. As chair of the Collaboration Committee, a SDWF Legacy Circle member, and a past SDWF president, Frank worked tirelessly to make a positive impact in the San Diego region and truly believed in the power of collective philanthropy to change lives.
Before her passing, Frank was working on a partnership with the Latina Giving Circle to support racial equity work in the San Diego community.
In honor of her desire to deepen these relationships, the first project of the A.J. Frank Fund will be to extend an SDWF membership to each organization the foundation awards a grant to moving forward, from both the central SDWF grants pool as well as any additional work funded through the collaboration initiatives.
Coronado Historical Association receives
major gift from local philanthropists
Philanthropists Don and Leslie Budinger have completed a major gift which began in 1999 and has now culminated in the transfer of title to the landmark building at 1100 Orange Ave. to the Coronado Historical Association (CHA). By completing the transfer of title of the property, Mr. and Mrs. Budinger, longtime supporters, were able to realize their vision of sustaining CHA and ensuring its role as Coronado’s archivist and historian for the community, well into the future.
The Budingers’ association with CHA began in 1999 when the couple bought the historic former bank building, restored it, and then entrusted it to the care of the Coronado Historical Association, entering into a 30-year lease-gift agreement. Under this agreement, title would be transferred to CHA at the earlier of the Budingers’ deaths or expiration of the 30-year lease.
City of Vista allocates $2.7 million
for COVID-19 Grant Program
The City of Vista has allocated $2.7 million to fund a Small Business COVID-19 Grant Program that will be administered by the Vista Chamber.
The Grant Program is created to provide flexible grant assistance to small Vista businesses that have experienced economic hardship due to the COVID-19 pandemic. Grant funds will be awarded to for-profit businesses who qualify for funding based on select criteria and can demonstrate financial loss through a Profit and Loss Statement or can document how their proposed prospective activities will assist them in recovering from the impacts of the COVID-19 Pandemic. Applicants must meet qualifications to be considered for emergency grant funds.
Escondido Creek Conservancy gets
grant for Boulder Outlook project
The Escondido Creek Conservancy was recently awarded a $75,000 conditional matching grant from the Gerald T. & Inez Grant Parker Foundation to support the renovation of a building on the Mountain Meadow Preserve
The building, named Boulder Outlook, will become the conservancy’s home for land conservation activities, including volunteer training and educational seminars. First, the nonprofit must reach its goal of raising $75,000 by Jan. 15 to ensure the full grant from the Parker Foundation.
