Daily Business Report: March 1, 2024
Viasat’s new UAV terminal takes flight
in powerline inspection demonstration
Viasat, a global leader in satellite communications, has successfully demonstrated the capabilities of its Velaris connectivity solution for Uncrewed Aerial Vehicles (UAVs), following a recent power utilities assessment using a small, lightweight terminal developed by its partner, UAV connectivity platform provider Gotonomi.
Powerlines are notoriously difficult to assess due to their installations, which span large distances in remote locations and include pylon heights ranging from 80 to 200ft. UAVs offer several benefits in comparison to traditional monitoring and inspection tools, such as faster arrival at a scene and unique vantage points from the sky. The addition of satcom technology simplifies the required communications infrastructure and allows a UAV to be operated remotely from a command post, with the ability to stream more extensive data and insights in real-time.
Photo: Viasat’s new UAV terminal readies for flight in powerline inspection demonstration. (Credit: Viasat)
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Why would a top Democratic candidate for
U.S. Senate buy ads promoting a Republican candidate?
California used to have a reasonable workable primary system, until politicos started messing with it. Democratic majorities in the Legislature move the state’s primary elections to March instead of June. Then Republicans got voters to approve a measure that changed the primary from a closed system — voters participating within their parties – to an open top-two system in which all candidates appear on the same ballot and the top two finishers qualify for the November ballot, regardless of party.
Clever campaign strategists game the top-two system by trying to get the weakest would-be opponents on the November ballot. Then you see something like this: a leading Democratic candidate for U.S. Senate (Adam Schiff) spending heavily on ads that promote Republican Steve Garvey, the former Dodger and Padres hitter, in hopes he rather one of the other Democratic candidates in the race finishes in second place.
Click here to read CalMatters’ Dan Walter’s commentary on how the changed primary system has reduced voter participation instead of improving voter turnout.
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New Lemon Grove housing project nears completion
Construction on Kelvin, a 66-unit contemporary mixed-use community at 7950 Broadway in Lemon Grove, is nearing completion, bringing much needed housing to a rapidly growing San Diego County neighborhood. Owned and developed by LLJ Ventures and Citymark Development, the project is now under management by San Diego-based Sunrise Management – with pre-leasing underway. Slated for completion the first week of March, move-ins begin on March 16.
In addition to 4,043 square feet of first level commercial space, Kelvin is comprised of studio, one- and two-bedroom homes ranging from 523 to 1,058 square feet. The five-story building is at the corner of Broadway and Grove Street.
Monthly rents will range from $1,950 to $3,600.
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San Diego’s Tower 16 Capital Partners acquires
Reno, Nevada multi-family property for $43 million
San Diego-based Tower 16 Capital Partners has acquired The Deco at Victorian Square, a 209-unit multifamily property located in Reno, Nevada. The project was built in 2021 and acquired for $43 million.
Since its founding in 2017, Tower 16 has made similar moves in markets throughout the West, acquiring nearly 7,000 units representing assets of over $1 billion in Southern California, Las Vegas, Phoenix, Tucson, Albuquerque and Denver, according to Tyler Pruett, co-founder of Tower 16. He said the company is aggressively targeting other new construction assets in varying stages of completion/lease-up as well as value-add opportunities in the Southwest.
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San Diego Brewers Guild launches Capital of Craft Podcast
San Diego Brewers Guild, a nonprofit organization that promotes local small businesses and entrepreneurs of craft beer, has launched The Capital of Craft Podcast. Episodes are released every other Wednesday, and they are hosted by Brewers Guild Executive Director Erik Fowler and Beer Media Co.’s Jeff Fox. Listeners can find the podcast on the Brewers Guild’s YouTube page, Apple Podcasts, Spotify, Amazon Music, and more. Episodes are roughly 30 minutes in length.
March 6 – Meet the 2024 Guild President Jake Nunes
Nunes has more than 20 years of experience in the local craft beer industry and is a Certified Cicerone, a certification for skilled beer professionals that is often referred to as the equivalent for sommeliers of wine. Nunes is the director of hospitality for Modern Times Beer.
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USD names Kimya Massey the executive director of athletics
The University of San Diego welcomes Kimya Massey as associate vice president and executive director of athletics. Massey, who takes over for Interim Director of Athletics and Vice President for Operations and Chief Operating Officer Ky Snyder, comes to the University of San Diego from Oregon State University in Corvallis, Ore., where he currently serves as deputy athletic Ddrector and chief operating officer, a position he’s held since December of 2021.
At Oregon State, Massey oversaw athletic department capital projects and event management, including the successful completion of the Reser Stadium project, valued at $161 million overall.
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North Island Credit Union launches charitable foundation
North Island Credit Union announced that it has launched the North Island Credit Union Foundation to lead its community outreach and support programs, which have totaled more than $2.5 million over the last five years. A non-profit charitable corporation, the Foundation will focus on partnering with local grassroots organizations and educational institutions through grants, sponsorships, in-kind support and volunteer participation.
Carvana opens newest car vending machine in San Diego
Carvana, an industry pioneer for buying and selling used cars online, debuted its newest Car Vending Machine in San Diego. The state-of-the-art steel and glass structure stands an impressive six stories tall along I-8 in Mission Valley and has a 19-vehicle capacity. Customers can enjoy the convenience of picking up their vehicle at the San Diego Car Vending Machine or having it delivered to their home.
Rapport Therapeutics appoints chief people officer
San Diego- and Boston-based Rapport Therapeutics Inc., a clinical-stage biotechnology company leveraging the science of receptor-associated proteins (RAPs) to advance precision neuromedicines, announced the appointment of Kathy Wilkinson as chief people officer. With over 20 years of experience, Wilkinson comes to Rapport from 2seventy bio, where she was chief people officer. The 250-person company was spun out from bluebird bio, where she served in a variety of human resource roles.
Save Our Heritage Organisation presented with Governor’s Historic Preservation Award
San Diego’s Save Our Heritage Organisation is one of six recipients of the Governor’s Historic Preservation Award presented by the California State Parks’ Office of Historic Preservation. An award ceremony recognized projects representing exemplary achievements for preserving California’s richly diverse heritage through increased public awareness, appreciation, and support for historic preservation.
Casa Florencia apartments in San Diego sold for $5.3 million
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Casa Florencia, a 12-unit apartment property located in San Diego. The asset was sold for $5.3 million. Casa Florencia is located at 1433 Thomas Ave. Built in 1972, the property has nine one-bedroom/one bath, one two-bedroom/one-bath and two two-bedroom/two-bath apartments.
The La Jolla Concours d’Elegance returns April 19-21
The La Jolla Concours d’Elegance is set to return to the shores of La Jolla from Friday, April 19 to Sunday, April 21. Now in its 18th year, the Concours looks back on its remarkable journey from a modest local car show to an internationally recognized automotive event. It began as a dream in 2003, conceptualized by three La Jolla business owners, Michel Ullman, Terry Underwood, and Yvette Marcum. Their initial discussion at Georges at The Cove laid the foundation for an event that would showcase the beauty of La Jolla.
City of San Diego receives $1 million-plus energy award
The Department of Energy announced that the City of San Diego has received over $1 million from its Energy Efficiency and Conservation Block Grant Program to run an appliance and home electrification rebates program prioritizing low-to-moderate income, Justice40 households in the area. Not only will this program help households afford upgrades that will save energy and money, it can also share lessons learned and data to inform the California Energy Commission’s upcoming implementation of the Home Energy Rebates Programs.
Realtors group hosts Business Beyond Borders on March 5
The Greater San Diego Association of Realtors is hosting its annual Business Beyond Borders event March 5 from 4:30 to 7 p.m. at Joya Kitchen, 10275 Science Center Drive, San Diego 92121. Real estate professionals will learn about cross-border real estate in the Cali-Baja region, covering everything from practicing real estate on both sides of the border to diversifying their portfolio with potential international buyers.
National University board member selected as one of San Diego’s Cool Women
National University announced that Kim Folsom, a member of its Board of Trustees, has been selected as one of San Diego’s Cool Women of 2024. Folsom founded Founders First Capital Partners in San Diego in 2015 to provide a small-business growth accelerator and revenue-based venture fund focused on helping underserved small businesses achieve exponential growth and success as employers in their communities. She serves as treasurer of the NU Board of Trustees.
Credit Union to sponsor 2024 San Diego Festival of Science and Engineering
San Diego County Credit Union will sponsor the 2024 San Diego Festival of Science and Engineering March 2 at 11 a.m. at Snapdragon Stadium. The educational event will engage kids and families by encompassing a variety of activities that support STEAM (science, technology, engineering, art and math) learning. The festival is the largest event of its kind in Southern California and is free and open to the public. Local businesses and organizations will provide fun and interactive STEAM activities for kids. For more information, visit lovestemsd.org.
