Daily Business Report-Dec. 13, 2013
Rendering of the Famosa Townhomes that are planned for a site at Voltaire and Catalina in Point Loma.
Point Loma to Get Townhome Development
Famosa Townhomes planned for the peninsula
Veritas Urban Properties has broken ground on The Famosa Townhomes, a mixed-use townhome development at Voltaire and Catalina streets in Point Loma. The project, which features nine for-sale units and a pedestrian-oriented retail component, is the second local urban community to be built by Veritas since the company’s founding in 2011.
The Famosa Townhomes is expected to revitalize an existing 13,000-square-foot vacant parcel on the northwest corner of Voltaire and Catalina streets. The site has been vacant and a community eyesore for 17 years.
Brothers Russ and Scott Murfey, founders and principals of Veritas, pinpointed it as an ideal location for urban infill residential with street-level retail to engage and enhance the neighborhood.
The project was approved unanimously by the San Diego Planning Commission in May 2013.
Named after the nearby Famosa ecological preserve, The Famosa Townhomes offers three-story row-style homes which flank a private drive located off the alley. Set above two-car garages, there is a mix between three-bedroom/two-bath units and two-bedroom/three-bath units, all with balconies and some with rooftop view decks. All units are equipped with solar for energy and cost savings.
The anticipated completion date for The Famosa Townhomes is fall 2014, with sales prices anticipated to start in the mid-$400,000 range.
Real Estate Firm Closes Loans on Five Projects
Real Estate Capital Advisors, a San Diego-based commercial real estate financing firm, announces it has closed five loan transactions totaling $11,828,680 for multi-family and commercial real estate properties throughout San Diego County.
Real Estate Capital Advisors arranged a five-year, $4,425,000 loan for the cash-out refinance of a five-story, 28,130-square-foot, mixed-use building with 15 residential units and three retail spaces in San Diego. “The borrower built the project and held most of the units during the economic downturn,” said Marc Iacono, president of Real Estate Capital Advisors.
The agency also arranged a 10-year, $3,700,000 conventional loan for the refinance of a 70,224-square-foot, free-standing industrial building in Carlsbad; a five-year, $1,155,000 conventional loan for the purchase of a 16-unit apartment complex in Fallbrook; a 10-year, $1,300,000 conventional loan for the cash-out refinance of a seven-property investor residential portfolio in San Diego; and a 20-year fixed-rate, $1,248,680 loan for the purchase of a of 7,700-square-foot medical office building in La Mesa.
Governor’s Office Holds Tax Credit Workshop (Correction)
The Governor’s Office of Business and Economic Development (GO-Biz) will be conducting a public workshop on the proposed draft regulations for the California Competes Tax Credit program, an income tax credit available to businesses that want to relocate or stay and grow in California. At the Dec. 17 workshop, GO-Biz will provide an overview of the enacting legislation, discuss the proposed draft regulations, and welcome feedback from the community. The workshop will be held from 10 a.m. to noon at the Corporate Ed Center at San Diego City College, 1551 C St.
Momentum Building for Covered California Online Enrollment
To date, 403,000 Californians have completed their applications for health insurance online, and state online health insurance exchange officials said a majority of applicants said the process has been easy, KPBS reports. Peter V. Lee, Covered California’s executive director, said last week alone, 50,000 people went all the way to the end and chose a plan. “That’s 15 times the rate of enrollment we were seeing when we opened our doors in October,” Lee said. “And the momentum is not stopping — it’s building.”
Open enrollment in Covered California for 2014 runs through the end of March.
Toni Atkins in Running for Assembly Speaker
Assemblywoman Toni Atkins, of San Diego, is among the growing candidate field for Assembly speaker, the U-T San Diego reported today.
The current speaker, Assemblyman John Perez of Los Angeles, signaled that he plans to step down this summer. He is termed out and running for controller. Atkins and Perez are both Democrats. Atkins may have a leg up in that she is currently second in command and has made no secret that she wants the job. But there are reports that a number of Democrats, including some freshmen, are eyeing the post. Democrats will meet in a closed caucus to select the speaker. Their choice would then have to be approved by a majority vote of the full Assembly, which Democrats control. No date has been set.
Atkins, a former member of the San Diego City Council, was elected to the Assembly in 2010 and re-elected last year. Her district stretches along the coast from the Mexican border to Solana Beach.
Cal State San Marcos to Open New Nursing Clinic
OCEANSIDE — The California State University San Marcos School of Nursing will celebrate the opening of its new nursing clinic in Oceanside on Monday at 10 a.m. with a ceremonial blessing and ribbon cutting. St. Anne’s Episcopal Church has donated use of a 1,600-square-foot house, located at 1002 South Coast Highway, to the university’s Student Healthcare Project, which also operates two other free clinics in Ocean Beach. The Student Healthcare Project provides nursing undergraduate and graduate students hands-on experiences in the community that train them in delivering primary care services. The student-run clinics provide hygienic care products and over-the-counter medications to clients. Under the supervision of nursing faculty and a medical director, students also help provide basic wound care, health care screenings, social service referrals and discount prescriptions for generic drugs.
Calbiotech Acquires Moduline Systems
San Diego-based life sciences company Calbiotech has acquired Moduline Systems, a microplate dispensing and vial filling equipment manufacturer in Grass Valley. Moduline Systems will become a business unit of Calbiotech, which made the acquisition in an effort to grow the business and expand product offerings. Calbiotech custom develops and manufactures immunoassay products used by reference labs, universities and research centers around the world. Moduline Systems has been a partner of Calbiotech since 1998, working on laboratory automation systems. Calbiotech and Moduline Systems will operate independently.
Qualcomm Announces New Snapdragon Microchip
Qualcomm Inc. has announced that it is entering the world of 64-bit processing with the introduction of its Snapdragon 410 cellphone microchip. The chip is considered particularly suitable for the Chinese market, with features that include fast 4G LTE data delivery. The company plans to produce samples of the Snapdragon 410 in the first half of 2014 and expects the chip to be in commercial devices during the second half of the year.
Sapphire Energy and Phillips 66 Work to Commercialize Green Crude
Sapphire Energy Inc., a world leader in algae-based Green Crude oil production, and Phillips 66, an integrated energy manufacturing and logistics company, announced a strategic joint development agreement. The agreement is aimed at taking production of algae crude closer toward commercialization. The companies will work together to collect and analyze data with the ultimate goal of completing the fuel certifications necessary to ready Sapphire Energy’s Green Crude for wide-scale oil refining.
Exploring the Link Between Brain Trauma and PTSD
A team of scientists led by researchers from the UC San Diego School of Medicine and the Veterans Affairs San Diego Healthcare System have recently released the results of a novel study of U.S. Marines investigating the association between traumatic brain injury (TBI) and the risk of post-traumatic stress disorder (PTSD) over time. The team reports that TBIs suffered during active-duty deployments to Iraq and Afghanistan were the greatest predictor for subsequent PTSD, but found pre-deployment PTSD symptoms and high combat intensity were also significant factors.
SDSU: Transforming Lives Through Campus Arts
Dani Bedau has a vision for the future of the arts at San Diego State University: that every student who attends has an exceptional experience with the arts on campus. When she starts her new role as the chair of the campus arts visibility initiative in January, she aims to make that vision a reality.
“Whether it’s as an audience member, in the classroom or on stage, I want every student to be influenced and changed by the arts,” said Bedau, a playwright and director who has taught at SDSU for eight years.
The arts visibility initiative, which will officially launch in the spring, aims to increase student, faculty and staff awareness of arts events and opportunities at SDSU; to increase attendance at arts events; to integrate and expand arts events and arts practices into the curriculum and to increase arts making opportunities. It is part of SDSU’s strategic plan, Building on Excellence.
“We are in the process of building a culture of arts on this campus,” said Joyce Gattas, dean of the College of Professional Studies and Fine Arts. “Through the strategic planning process it became clear that raising the profile of the artistic endeavors on campus was a priority and we are so grateful to have the support of President Hirshman and the campus partners who are helping to make the initiative possible.”
A committee made up of faculty, staff and students from departments all across campus have been working together since August to plan the launch of the initiative.
Studio 2055 Hires Graphic Designer
CARLSBAD — Graphic designer Taylor Schultz has joined the creative staff of Studio 2055 following a summer internship. He graduated from the Rochester Institute of Technology in New York in May, with a degree in graphic design. After his three-month internship, Taylor was invited to join the staff as a junior graphic designer.
Penelope Quintana Reappointed to Science Panel
Penelope Quintana, 54, of San Diego, has been reappointed to the California Scientific Guidance Panel by Gov. Brown. Quintana has held multiple positions at the San Diego State University Graduate School of Public Health since 1995, including associate professor, graduate adviser for the global Doctor of Philosophy and Master of Public Health degree programs and assistant professor. She was an assistant professor at the University of British Columbia from 1992 to 1994 and staff scientist at the Lawrence Berkeley National Laboratory Indoor Environment Program from 1991 to 1992. Quintana was a research associate at the University of California, Berkeley from 1985 to 1990 and an industrial hygiene trainee at the Naval Ocean Systems Center, San Diego in 1984. the position does not require Senate confirmation and there is no compensation. Quintana is a Democrat.
CCIM Announces Election of 2014 Board
The San Diego chapter of CCIM, an international commercial real estate association, announced its roster of newly elected 2014 board members, including 2014 President Peter Carr, first vice president, San Diego Private Banking Group, California Bank & Trust.
In addition to Carr, elected officers include: Jessie Rich-Greer, with The Greer Group, vice president–president elect; Michael Habib, with Coldwell Banker Commercial, secretary; and Robert Teglia, with Newmark, Grubb, Knight, Frank, treasurer. Immediate Past President Lauri Hines will continue as an honorary board member and has been elected to the CCIM Institute board of directors for 2014. Karen MacLeod continues on the board and will serve as the 2014 regional vice president for CCIM National Region Two.
Bob Lehman Selected to Head Gay Men’s Chorus
Bob Lehman has been selected as the new president of the San Diego Gay Men’s Chorus board of directors. He will succeed current president Cheri Curtis when her term expires at the end of December. “I love this chorus and the members who have made it what it is today,” said Lehman. “There are few groups anywhere that have the type of strong bond we enjoy and a mission that is so important to our community.”
Lehman, a baritone, is currently director of marketing and was previously director of membership for the chorus. He has been involved with SDGMC for nearly 15 years as a donor and more recently as a singer.
Lehman first moved to San Diego in 1984 as a member of the U.S. Marine Corps stationed at Camp Pendleton. A combat veteran, Lehman has been highly decorated both for his service to his country and to the LGBT community including extensive work for the rights of gay service members and as a champion for marriage equality in California.
SDGMC also selected its board officers including Caron Woodward, vice president; Rob Miketa, secretary; and Joe Florence, treasurer.