City Municipal Code Revisions Aim To Create Greater Housing Affordability
Irvine Company (ICO) LSD PO 12400
July 6, 2017

City Municipal Code Revisions Aim To Create Greater Housing Affordability

The only way to make housing more affordable is to build more housing, so the City of San Diego is implementing strategies to encourage developers to build more affordable housing and housing that is affordable for a larger portion of the rental population, according to Elsye Lowe, deputy director of the project submittal and management division of the City of San Diego Development Services Department.

San Diego developers delivered 3,100 multifamily units in 2016 and another 5,800 units under construction are slated for delivery in 2017, but the majority of new apartments are luxury product and only affordable for the top 15% of renters, according…

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Swinerton Builders (7.6.17) SD 10912
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Multifamily Financing Tough In The West, But Not Impossible, Experts Say

Financing a multifamily project in the West certainly is not getting any easier. Developers are walking away from projects that do not pencil due to strict housing regulations, difficulty getting a loan and increased costs.

Developers are having a tougher time getting sufficient financing because lenders are providing construction loans at or below 60% loan-to-cost, according to Essex Property Trust Chief Financial Officer Angela Kleiman. In the previous cycle, construction loans went as high as…

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Bisnow (Ascent2017-1) PO 201
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San Diego Regional Projects Make Big Splash At PCBC Gold Nugget Awards

San Diego County projects garnered four grand and 17 merit Gold Nugget Awards, which were presented at the black-tie Gold Nugget Awards gala, the grand finale of the 54th annual PCBC builders show (formerly the Pacific Coast Builders Conference) at the San Diego Convention Center last week, the San Diego Union-Tribune reports. The 2017 Golden Nugget Awards competition had 630 entries in 48 categories.

Lofty Coffee Co. café

Naylor Construction won a Grand Award for commercial rehabilitation of the Lofty Coffee Co. café at 444 West Cedar St. in Little Italy, which was developed by Eric Meyers and designed by Edinger Architects. Juror comments: “This project was the…

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Terramar Retail Centers Selling Leases On Seaport Village And The Headquarters

Locally based Terramar Retail Centers, which holds Port of San Diego leases for Seaport Village and The Headquarters, is marketing the remaining 35 years on its 40-year lease on The Headquarters, and its remaining lease on Seaport Village, which will expire…

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Barbershops Are Back And Bucking Retail Trends

While soft goods retailers are shuttering stores in record numbers, a cultural resurgence of men's grooming, estimated to reach $26B by 2020, has barbers, brokers and landlords lining up to get their cut.

“You don't just look better — you feel better too,” said Carlos Aguilar, a 28-year-old restaurant manager in Houston. He has a standing appointment with his barber every two weeks, spending about $60 and 45 minutes each visit. “It's something special. I know when I go on a Thursday afternoon it's going to be a good weekend. You're ready.”

Aguilar is part of a trend sweeping the U.S. (and world). 

“For landlords, it's a no-brainer. They want to fill these retail vacancies with new concepts,” Cushman & Wakefield Vice President of Retail Research Garrick Brown said. “One of the bright spots for retail has been health and beauty."

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Real Estate Is Helping Europe Cope With Its Mass Refugee Intake

The massive influx of refugees into Europe in the past two years has created challenges for societies across the continent — and real estate is at the front lines.

A handful of real estate projects and companies across Europe are looking to shelter and integrate refugees into communities. They range from the small and esoteric to large household names — one is backed by KKR and Morgan Stanley. They face huge challenges: entrenched views on migrants, a lack of existing structures and, most of all, the acute difficulties in building low-cost real estate.

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