How A San Diego Construction Project Dealt With Ballooning Costs
February 21, 2019

How A San Diego Construction Project Dealt With Ballooning Costs

Construction cost increases have been unrelenting in recent years, including in San Diego, posing a major challenge to getting new developments done and forcing contractors to cope.

Recently C.W. Driver Cos. completed the Mission Hills‐Hillcrest Harley & Bessie Knox Public Library at 215 West Washington St. in San Diego, which includes a 15K SF library and 30K SF of underground parking.  The library incorporates both traditional Craftsman and…

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Stopped In Its Tracks: Trump Administration To Cancel $1B For California's Bullet Train

President Donald Trump may have pulled the brakes on the state's costly bullet train plans. 

Uncertainty has surrounded California's high-speed rail network, and now the Trump administration said it intends to terminate a $928M federal grant to the California High-Speed Rail Authority agency for a $77B bullet train that would have connected Los Angeles to San Francisco.

In a separate statement, the U.S. Department of Transportation announced it is exploring legal options for California to pay back $2.5B in federal funds already spent toward the project.

“[Federal Rail Authority] has determined the CHSRA has materially failed to comply with terms of the agreements and has failed to make reasonable progress on the project,” the Transportation Department letter read. The letters come a couple of days after…

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Bisnow Wants Your Insight On California's Troubled High-Speed Rail Plan

California's plans for a high-speed rail project have spiraled downward since Gov. Gavin Newsom said last week that he planned to focus construction on the Central Valley. Though Newsom later clarified that he still planned the parts of the project that extended to Los Angeles and the Bay Area to be built later, the federal response has been swift. The U.S. Department of Transportation announced Tuesday that it planned to pull nearly $1B from the project and would seek ways to get back $2.5B already spent on the project.

Bisnow wants to know what you think. Was high-speed rail doomed from the beginning? Does the loss of federal funding mean it now has no chance of completion? What does this mean for the areas that were counting on high-speed rail stops nearby?

Take this survey and let us know your thoughts.

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More San Diego Spec Industrial Planned To Meet The Market's Intense Appetite

Ryan Cos. and DWS Group are preparing to break ground on Vantage Point, a 530K SF spec industrial property in Poway next to the 303K SF building Ryan Cos. built last year and fully leased. Industrial is in high demand in an…

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EXCLUSIVE: SoftBank Vision Fund Investment Director Justin Wilson On The Future Of Real Estate Disruption

No company in the world may be having a bigger impact on real estate right now than SoftBank.

The Japanese telecom giant has made a series of massive bets on companies that are disrupting the sector, via its tech-focused $100B Vision Fund, and using its own balance sheet. The aim of its founder, Masayoshi Son, is to invest in companies and technologies that will change the world, and property and construction are playing a huge part in this.

Bisnow caught up with SoftBank Vision Fund Investment Director Justin Wilson to discuss the fund's investment thesis, the sectors and technologies it is looking at as most resilient in a downturn, and why it doesn't really matter that companies like WeWork are taking big losses now. 

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PropTech Costs Are Down, Effectiveness Is Up And It's Changing The Outlook For CRE

For years, experimenting with technology in commercial real estate was costly, time-consuming and, worst of all, often produced little benefit. But industry experts believe that has finally started to change.

Now that tech startups in the industry are beginning to mature and evolve, costs have come down and landlords and developers are working out how to aggregate data at scale, a shift is taking place.

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What The World's Biggest PropTech Investors Want From Startups

PropTech had a big year in 2018, with investment in the sector just shy of $20B, a 38% increase on 2017, according to Venture Scanner.

What is getting investors in the sector excited right now, and where is the sector headed? Bisnow asked three of the world's biggest PropTech investors what they are looking for from startups and their key trends for 2019. 

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Q&A With Clint Roberts, Chairman Of New Multifamily Equity Exchange Platform

soon-to-be-launched platform looks to exchange multifamily property information between real estate investors and brokers.

U.S. Apartment Equity Exchange Inc. is a specialized marketplace aiming to allow for more specific search options than other platforms, and promising confidentiality of property information.    

River Oaks Equity Partners founder and Managing Partner Clint Roberts will serve as chairman of the board of directors for the USAEX. Roberts conducted a Q&A with Bisnow to explain the USAEX platform in-depth. 

Read the full story here.

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