Does California Have The Political Will To Fix The Housing Crisis? Probably Not
May 17, 2018

Does California Have The Political Will To Fix The Housing Crisis? Probably Not

What are San Diego's hottest amenities for tech, life sciences and law tenants? Find out at San Diego Workplace of the Future on June 14.

San Diego County will need 171,000 new residential units by 2029, or 17,000/year until then, to keep up with projected demand. Unless there is unexpected, radical change in the political and regulatory environment locally and at the state level, that isn't going to happen, Building Industry Association of San Diego County President and CEO Borrel Winckle said.

"It will take bold action by bold politicians to turn the ship around," Winckle said. "It has to come locally, because Sacramento cannot be expected to lead us out of this mess. So far, the best helpful action has been…

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Murphy Development Starts Work On Last Building At Siempre Viva Business Park

Murphy Development recently broke ground on Building 17 of its Siempre Viva Business Park in Otay Mesa. The 79K SF structure at 8500 Kerns St. will complete the 2.1M SF business park.

The neighboring Building 18, the penultimate project at Siempre Viva, was completed in late 2016. The 122K SF building at 2600 Melksee St. is partially leased by Mainfreight USA. Building 17 will feature a 28-foot clear height, 2,000 amps of…

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Developers, Attorneys Tackle The Most-Asked Questions About The Opportunity Zones Program

Since the passage of the Opportunity Zone provision in January, commercial real estate developers, business owners and investors have been digging up information on how to incorporate the program into future investments and scouring the designated distressed neighborhoods for investment opportunities. 

Established by the Tax Cut and Jobs Act, the Opportunity Zone program aims to give investors an incentive to put money into an Opportunity Fund that then invests in low-income neighborhoods, according to the census, as designated by the governor of each state. 

Bisnow spoke to Manhattan Beach, California-based Kosmont Cos. CEO Larry Kosmont and Kosmont Cos. Chief Operating Officer Carolyn Petty, who have spent years working with municipalities, and Cox, Castle & Nicholson's Erik Loomis, a partner and tax attorney. They tackled some of the most-asked questions about the Opportunity Fund program and how this provision could work.

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For The First Time In 80 Years, A Ryan Is Not Part Of Ryan Cos.' Executive Leadership

Historic changes are afoot at Ryan Cos. Longtime CEO Pat Ryan is stepping down June 1 to become chairman of the company's board of directors. Brian Murray, Ryan Cos.' chief financial officer and chief operating officer since 2009, will succeed him. It is the first time in Ryan Cos.' 80-year history the company's executive masthead will not include a member of the Ryan family. To hear Murray tell it, the change is mainly a formality.

“We knew Pat would eventually transition to chair the board. We didn't know it would happen in 2018,” Murray said.

It is part of a broader push to change the makeup of Ryan Cos.

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This Private Equity Vet Has Been A WW2 Secret Agent, Is Standing For Congress And Fancies A Run For President

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In a 30-year career he ran Merrill Lynch's European real estate investment before starting his own pan-European opportunity fund business, Peakside Capital, which managed around €1.8B of assets when he stepped back from the helm in 2015. 

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This is the real estate story behind the joining together in holy matrimony of Prince Harry of Wales and America's Meghan Markle. The properties are both modern and ancient, and the bit that Ms. Markle is marrying into is worth more than $1.4B.

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