Daily Business Report-March 10, 2014
Rendering of the Downtown Central Courthouse
Groundbreaking Today for New 22-Story
Central Courthouse in Downtown San Diego
A groundbreaking ceremony is scheduled today to commemorate the start of construction of the new Central Courthouse for the San Diego County Superior Court. The ceremony will include remarks from California Chief Justice Tani G. Cantil-Sakauye, San Diego Presiding Judge David J. Danielsen and county Supervisor Greg Cox.
Officials said the building — the largest new courthouse in the state’s court construction program — will consolidate multiple facilities in the Downtown metropolitan area, including the County Courthouse, the Family Courthouse and the Madge Bradley Courthouse, which are seriously overcrowded, unsafe, and inadequate for modern court operations.
The new courthouse will provide a consolidated facility for criminal, civil, probate, family court and small claims services.
The 22-story building will include 71 courtrooms in 704,000 square feet and feature significant improvements in security, with a secure vehicle sally port for the transportation of in-custody defendants, as well as better safety and improved access and efficiency for county residents.
The new facility, which utilizes sunlight to optimize interior lighting, will feature a three-story lobby atrium. It will connect to the nearby Hall of Justice, which will continue to be used for civil cases, via a pedestrian bridge.
The new courthouse is funded by Senate Bill 1407, using trial court user fees. Completion is scheduled for fall 2016.
County Home Sales Rise in February
Sales of previously owned homes throughout San Diego County rose in February and prices continued to stabilize, according to new housing statistics from the Greater San Diego Association of Realtors.
Sales of single-family homes increased 8 percent in February, but were still about 12 percent lower than February 2013. Condominium and townhome sales were up nearly 6 percent from the previous month, but also were lower than a year ago.
The median price of existing single-family homes stood at $470,000 last month — down slightly from January, but 15 percent higher than February 2013. For condos and townhomes, the median price in February was hovering at about $300,000, which is nearly 20 percent higher than a year ago.
“As we would expect to see following a seasonally-slow January, home sales started to pick up in February,” said Leslie Kilpatrick, SDAR president. “I’m hoping and anticipating we will see For Sale signs blossom as we head into spring.”
In February, the areas with the most sales of single-family homes Encanto, Spring Valley, Fallbrook, Ramona and El Cajon. The most expensive San Diego County listing sold last month: A three-bedroom, three-bath, 1,840-square-foot home in Del Mar that sold for $7.5 million.
Funds for San Ysidro Port of Entry Expansion
Included in Budget Proposal for Fiscal 2015
An expansion described as the single most important construction project in the San Diego region was included in President Barack Obama’s budget for fiscal year 2015 — $216 million to fund Phase II of the San Ysidro Port of Entry expansion. Congress must approve the request through the appropriations process.
Members of the San Diego congressional delegation — Reps. Scott Peters, Susan Davis and Juan Vargas — along with Sen. Barbara Boxer and Sen. Dianne Feinstein, have pledged to work with others on Capitol Hill to get the funding approved.
An estimated 50,000 cars move northbound through the port of entry from Tijuana into San Ysidro every day. The project involving construction on both the U.S. and Mexico sides of the border crossing will help ease traffic between San Diego County and Tijuana. Mexico completed its side of the border project in 2012.
ResMed Founder to Speak at March 27 Program
Dr. Peter Farrell, founder and executive chairman of ResMed, will be guest speaker at the San Diego Employers Association’s Strategic Leadership Series program March 27 from 11:15 a.m. to 1 p.m. at Admiral Baker Clubhouse, 2400 Admiral Baker Road, Building 3604, San Diego. Farrell is expected to talk about what he calls the Five Elements of Leadership, among other topics. Farrell founded ResMed, a medical device company, in 1989. It has evolved from a six-person staff to 4,500 employees globally.
Registration costs is $49 for SDEA members and $59 for nonmembers and includes lunch and networking. To register, call (858) 505-0024 or email email@example.com.
Lodging Industry Forecast Forum
R. A. Rauch & Associates will conduct a lodging industry forecast forum on March 13 from 8 to 10 a.m. at the Hilton Garden Inn, San Diego/Del Mar, 3939 Ocean Bluff Ave., San Diego.
Tony Young Out as CEO of the Local Red Cross
Former Councilman Tony Young’s tenure as CEO of the San Diego/Imperial Counties chapter of the American Red Cross is over after a little more than a year, the agency announced Friday.
The Red Cross would not reveal why Young — who stepped down as City Council president at the end of 2012 — was no longer with the relief organization.
“Like many organizations the Red Cross considers personnel matters private and we do not comment on the reasons why someone has left the organization,” the agency said in a statement. “Mr. Young has been the regional chapter CEO for approximately 14 months. We thank him for his service to the Red Cross and wish him well in his future endeavors.”
The chief operating officer will manage day-to-day operations while the Red Cross forms a search committee to select a new chapter head.
Young was elected to the City Council in a January 2005 special election to replace the late Charles Lewis. He became council president in 2010 and implemented the panel’s bipartisan working model, which has been continued by his successor in the leadership role, Todd Gloria.
Young’s City Council seat was eventually filled by Myrtle Cole. Young remains co-chairman of Mayor Kevin Faulconer’s transition team, according to mayoral spokesman Matt Awbrey.
Mission Federal Credit Union Names New V.P. of Community Relations
Angela Lasagna, is the new vice president of community relations and external relations for Mission Federal Credit Union. Lasagna is responsible for developing and implementing a strategic community and media relations plan. She has almost 18 years of banking experience, seven with the Navy Federal Credit Union as the Southwest regional marketing manager. Prior to that, Lasagna, was the marketing officer for California Bank and Trust. She
received a bachelor’s degree from San Diego State and obtained training from the American Bankers Association.
She has won numerous rewards for her rebranding work and marketing campaigns. Lasagna serves on several boards including Rady’s Children Hospital Credit Union for Kids, Make a Wish Foundation Fashion for Passion and the Temecula Valley Balloon & Wine Festival.
CBRE San Diego Hires V.P. in Downtown Office
CBRE San Diego has hired Erik Parker as a vice president in the Downtown San Diego office where he will specialize in industrial leasing and sales throughout South County. Prior to joining CBRE, Parker was an industrial property specialist with Cassidy Turley in San Diego where he handled development projects for Master Development Corp., Kearny Real Estate and Venture Corp., as well as institutional leasing assignments for Clarion Partners and Rexford Industrial.
Parker has more than 13 years of marketing experience. He holds a bachelor’s degree from Humboldt State University.
Barney & Barney Announces Promotions
Barney & Barney announced the promotion of five senior executives to principals of the firm. The new principals are Sara Bennett, an executive in the Property & Casualty Group in San Diego; Nicole Mehrara, an executive in the Employee Benefits practice in San Diego; John Whalley and David Nava, executives in the firm’s Employee Benefits practice in Orange County; and Sean Reddy, an executive in the Property & Casualty Group in Orange County.
Barney & Barney now has 43 active principals in its offices in San Diego, Orange County, Oakland and San Francisco.
Sara Bennett joined Barney & Barney’s Property & Casualty division in 2003 and specializes in workers compensation and risk management. She has 11 years of experience. Bennett earned a bachelor’s degree from the University San Diego. She is a board member and committee chair for the San Diego Women’s Foundation, and was previously the chair of Barney & Barney;s B&B GROW – an internal women’s initiative.
Nicole Mehrara joined Barney & Barney in 2008 in the Employee Benefits division and specializes in employee benefit needs for small businesses with an emphasis on life science and technology companies. She received a bachelor’s degree from the University of San Diego.