Daily Business Report-Jan. 10, 2014
The Jamul Indian Village released this rendering of the proposed $360 million ‘Hollywood Casino Jamul.’
Jamul Indian Tribe Announces Start of Construction
Activities for Proposed $360 Million Casino in Jamul
Despite widespread opposition from the local community and county Supervisor Dianne Jacob, the Jamul Indian Village and its development partner today announced the launch of construction activities for a proposed $360 million casino in Jamul. The announcement for the “Hollywood Casino Jamul” was made in a press release by the Indian tribe, which said the project would include a three-story gaming and entertainment center of about 200,000 square feet and featuring more than 1,700 slot machines, 50 table games, “multiple restaurants, bars and lounges” and an enclosed below-grade parking structure with more than 1,900 spaces. The tribe’s development partner is a subsidiary of Penn National Gaming Inc.
Jacob and community residents have long opposed the proposed casino, claiming it is not suitable for the Jamul community and would create dangerous traffic conditions.
The Indian tribe said it has made significant changes to the design of the facility to incorporate local community input, including significantly reducing its height and footprint. It said the planned development will now include water and wastewater reclamation facilities, addressing on-site fire protection measures.
“We are very excited that our long-time dream will finally become a reality,” said Raymond Hunter, chairman of the Jamul Indian Village of California. “We have worked tirelessly for well over a decade listening to the voices of the community, addressing concerns, and ultimately developing a project that blends seamlessly into the region, while creating approximately 2,500 much needed construction and permanent jobs in our region.”
The start of construction-related activities follows the recent review and approval by the California Department of Transportation (Caltrans) of the project’s Transportation Management Plan and issuance of an Encroachment Permit to the Tribe to minimize any traffic impact on SR-94 during the building phase of the project, according to the tribe.
San Diego Beats State in Hiring Growth
Hiring and paychecks grew among San Diego’s small businesses at a faster clip than they did statewide at the end of the year, according to leading online payment company, SurePayroll. Thanks in part to the region’s strong tech and biotech industries, hiring rose 0.8 percent in the San Diego metro area from December 2012, and the average paycheck increased 0.6 percent from the same month last year. Meanwhile, California’s hiring dropped 1.2 percent year over year, with paychecks going down 0.6 percent, and nationwide hiring dipped 1.7 percent in December 2013 vs. a year ago, and paychecks shrank 0.3 percent.
Researchers Develop Technique for Identifying
Patients Who Are at High Risk of Heart Attack
A new “fluid biopsy” technique that could identify patients at high risk of a heart attack by identifying specific cells as markers in the bloodstream has been developed by a group of researchers at The Scripps Research Institute. The technique, which is described in the latest edition of IOP Publishing’s journal Physical Biology, works by identifying circulating endothelial cells (CECs) and has been successful in distinguishing patients undergoing treatment for a recent heart attack with a healthy control group.
The researchers believe the technique can now be tested on patients who exhibit symptoms but are yet to experience a heart attack. Currently, there is no predictive test for a heart attack—at least not of satisfying accuracy.
“The goal of this paper was to establish evidence that these circulating endothelial cells can be detected reliably in patients following a heart attack and do not exist in healthy controls—which we have achieved,” said TSRI Associate Professor Peter Kuhn, who led the study.
Energy Efficient Home Open for Public Tours in San Carlos
San Diego residents can tour a 1950s tract-style San Carlos house to see how it was transformed into an energy-efficient home during an open house from 10 a.m. to 1 p.m. on Saturday, Jan. 18, at 6407 Lake Atlin Ave. The free home tour is sponsored by the nonprofit California Center for Sustainable Energy that helps homeowners save energy through the statewide Energy Upgrade California Home Upgrade initiative. Visitors will meet the owners to hear about the advantages of installing upgrades and learn from energy efficiency experts how they can make their homes more comfortable, safer and energy efficient.
“Before the upgrades were installed, you could feel the cold air against the walls, and we would run the heater all night but our house would not stay warm,” said homeowner Wendy Rademaker. “Immediately after adding insulation and the other upgrades, the temperature in the house was stable and comfortable.”
For more information on the home tours, contact Bob Coleman at CCSE at (858) 737-1583 or visit www.energycenter/homeupgrade.
Governor Touts Budget Proposal in Swing Through San Diego
Gov. Jerry Brown said Thursday in San Diego that California’s finances are healthy, but long-term liabilities require a prudent state budget in the upcoming fiscal year, City News Service reports. Brown spoke at a news conference on the day he released his $155 billion proposed budget for 2014-15. An improving economy will allow the state to pay down debt and put some money into reserve accounts, which would be used in years when volatile capital gains tax revenues come up short, the governor said.
“Some people would say let’s go on a spending binge, but I say it’s time for wisdom and prudence,” Brown said. “Pay down our debt, put it in a rainy day fund, and be prepared for the next downturn.”
California has about $355 billion in long-term liabilities, including $217.8 billion in unfunded pension costs to retired state employees and $64.6 billion in deferred maintenance, according to data provided by the governor’s office.
Managing Partner Named at Lavine Lofgren Firm
Larry Campbell, a partner with Lavine, Lofgren, Morris & Engelberg LLP since 2008, has been named managing partner, effective this month. Campbell specializes in the area of tax and consulting with clients in the hospitality, real estate, and professional services industries. Lavine, Lofgren, Morris & Engelberg is the largest independent tax and accounting firm in San Diego. The firm specializes in the sectors of manufacturing, distribution, high technology, real estate, construction, sports and entertainment, hospitality, and professional services.
Director of Marketing Hired for Fashion Valley
Christopher Lane has been named the new director of marketing and business development for Simon Property Group’s Fashion Valley. Lane is responsible for marketing, events, local media relations and business development efforts. He also will act as a liaison for various community organizations. Lane has been with Simon Property Group for four and a half years, beginning as a marketing assistant at Santa Rosa Plaza in the Bay Area, then moving into the assistant director of marketing and business development at Stanford Shopping Center, also in the Bay Area. Most recently, he held the director of marketing and business development position at Anchorage 5th Avenue Mall, in Anchorage, Alaska.
Design Ideas Seminars for Homeowners
Jackson Design & Remodeling is offering free Design Ideas seminars, developed for those who are considering major home remodeling projects. The seminars educate homeowners as they learn about the remodeling process and explore innovative design ideas. Attendees will hear from Jackson Design’s CEO, Todd Jackson, and have the opportunity to talk with JDR’s interior designers and architects. The seminars are held at Jackson Design and Remodeling’s Design Center and showroom at 4797 Mercury St., San Diego. Complimentary lunch will be served. To reserve a seat, call (619) 442-6125.
All seminars are from 10 a.m. to 1 p.m. on Jan. 18, Feb. 22, March 22, April 26 and May 17.
North Park Apartments Sold
The Felton Street Apartments, an eight-unit apartment complex in North Park, has been sold for $960,000. Jack Nooren of NAI San Diego represented the sellers, Soloman & Atsede Desta. The property was purchased by Real Asymmetry LLC. Located just off El Cajon Blvd. at 4270 Felton St., the complex consists of 5,224 square feet. Amenities include garages, on-site parking, laundry facilities and a fenced courtyard.
Sea Breeze Condos Sell for $5.2 Million
CARLSBAD — Sea Breeze, a 12-unit condominium development at 3150 Ocean St. in Carlsbad, has been sold for $5.2 million to Global Integrity Realty. Universe Holdings is general partner and Henry Manoucheri is chairman and CEO.
The property consists of spacious two-bedroom, one-bedroom, and junior one-bedroom flats, all of which feature a large private patio or balcony overlooking the ocean.
The project was 100 percent occupied at the time of sale. Built in 1982 on a 15,894-square-foot beachfront parcel, the gated property is comprised of two three-story buildings totaling 10,232 square feet.
Philip Buckley of CBRE San Diego represented the seller, Holualoa Companies. The buyer was not represented.