Daily Business Report-Dec. 1, 2017
The Konyn Ranch
Touchstone Acquires Former Dairy
Property for Residential Development
in Valley Center
Touchstone Communities has acquired 75 acres of former agricultural land in Valley Center for the development of a new mixed-use residential community, known as Park Circle.
Located at the northwest corner of Valley Center Road and Mira de Valle, the property was previously operated as the Konyn Dairy. Touchstone acquired the land from the Konyn Family for $6 million.
Key amenities of the master-planned community will include a retail town center featuring restaurants, shops, and community space, a large central park with events stage, sports courts, fire pits, and gathering places, a clubhouse and recreation center with pools, fitness room, and event spaces, a community garden, over four miles of trails, and neighborhood parks.
“The property was a long-time family owned asset that was ripe for repositioning since the dairy industry has faced regulatory headwinds in San Diego County for several years,” said Terry Jackson of Cushman & Wakefield, which represented both parties in the sale.
“In realizing their dairy operation would not continue, the Konyns hoped that their beloved Valley Center property would be developed and woven into the Valley Center community fabric that they have been so closely aligned with for decades, a shared goal that Touchstone Communities also intends to fulfill,” Jackson added.
Port of San Diego Awarded $4.8 Million
for Chula Vista Bayfront Project
The Port of San Diego has been awarded $4.8 million from the California Natural Resources Agency for its Sweetwater Bicycle Path and Promenade project, a component of the Port’s Chula Vista Bayfront development. The Sweetwater Bicycle Path and Promenade project will consist of a three-quarter mile Class I bike path and pedestrian walkway linking the regional Bayshore Bikeway to waterfront amenities and future development sites on the Chula Vista Bayfront. The proposed budget for the Sweetwater Bicycle Path and Promenade project is $5.63 million.
Construction on the Sweetwater Bicycle Path and Promenade project is anticipated to begin in 2019 with completion in 2020.
Former Mission Valley Motel to Become
Rental Apartments for Homeless Veterans
A former motel near Mission Valley will be rehabilitated and converted into 84 new affordable rental apartments for homeless veterans, with supportive services provided on-site through a San Diego Housing Commission (SDHC) partnership development known as Zephyr, which celebrated its groundbreaking on Thursday.
SDHC is partnering with the developer, Affirmed Housing Group, on the rehabilitation and reconfiguration of the former motel located just north of Interstate 8 at 4370 Alvarado Canyon Road, within walking distance to the Grantville Station trolley and bus stops, as well as nearby shopping and medical centers.
Through Housing First-San Diego, SDHC’s action plan, SDHC awarded a $3 million loan toward the Zephyr development and 84 federal rental housing vouchers that will help formerly homeless veterans pay their rent at Zephyr. The total development cost of the project is $27.2 million.
CBRE Unveils Fancy New Office
At University Towne Centre
CBRE announced the opening of its new office on the third floor of Westfield UTC’s newly expanded and renovated shopping center. Located at the intersection of La Jolla Village Drive and Genesee Avenue, the new space has a core focus on hospitality and includes a concierge staff and valet service.
The new space is part of CBRE’s global Workplace360 initiative, the company’s approach to workplace strategy designed to promote flexibility, mobility and productivity through technology-enabled, 100 percent-free address and paperless offices. The 33,000-square-foot office joins more than 50 other offices around the world, including CBRE’s offices in downtown San Diego and Carlsbad.
All employees are equipped with a laptop, and all work stations include dual monitors, phone extension mobility and electronic sit/stand desk options. The office has Liquid Galaxy, a state-of-the-art presentation technology, that uses sophisticated mapping data to give panoramic, comprehensive property and market tours, complete with 3D building images and street views, to clients from the comfort of the office.
With no assigned desks and a variety of collaborative workspaces, CBRE employees can choose to work at a desk, in a team huddle room or in the ”Heart,” an entry, gathering and social space which features a nine-screen media wall where employees are encouraged to meet and work in a café-like setting.
Westfield has spent approximately $600 million on the current expansion of the UTC shopping center, which does not include the cost of the future residential portion, which has broken ground and is expected to be completed in winter 2019. The expansion phase of construction added approximately 251,000 square feet of retail and dining space. The center will also be home to a bimodal transit center for buses and the planned mid-county trolley extension.
Donald and Ellie Knauss Pledge $20 Million
Toward USD School of Business Complex
University of San Diego board chairman Donald Knauss and his wife Ellie Knauss have pledged $20 million to launch the final planning and construction of a new USD School of Business Complex.
USD President James T. Harris III announced the leadership gift on Thursday. He noted that the gift is the largest donation ever received by USD’s School of Business.
The new School of Businesswill be located adjacent to Olin Hall, the current home of the School of Business, which will be renovated following construction of the new building to create a consolidated business school complex. The new building will be named for Don and Ellie Knauss.
The Knausses’ gift will be leveraged to raise additional funds and financial resources for the complex, which will expand the School of Business footprint at USD from the existing 48,000 square feet to more than 120,000 square feet. The project is expected to cost approximately $67 million and be completed in 2022.
Donald Knauss joined the USD Board of Trustees in 2008 while serving as chairman and chief executive officer of The Clorox Corporation. He retired in 2015 after serving as executive chairman of the board from November 2014 until July 2015.
ASID Designer Showcase Coming
Back After 16-Year Hiatus
The San Diego chapter of the American Society of Interior Designers (ASID) and Rady Children’s Hospital Auxiliary will re-introduce the ASID Designer Showcase to San Diego County next spring after a 16-year hiatus.
The ASID Designer Showcase 2018 is an iconic 5,400-square-foot, Georgian/Colonial-style estate located at 1901 Monterey St., Coronado. The home was designed and built in 1929 by Ione Gilfillan Brown. The stately home, which features six bedrooms, five and a half baths and a carriage house, will be completely renovated and redesigned by 18 teams of professional designers.
The public can get a sneak peek before renovation commences at a Empty House Party, on Saturday, Jan. 20, from 3 to 6 p.m
“Our objective is to promote excellence in interior design and enhance the public’s awareness of the profession,” said co-chair Janine Thierry Brown, ASID, a past president of the San Diego chapter. “This showcase is a wonderful opportunity for people to get design inspiration and enjoy an entertaining outing with friends, while giving to a great cause.”
“Rady Children’s Hospital Auxiliary is pleased to be the fundraising beneficiary of the ASID Designer Showcase 2018,” said Deborah Oliver, vice president, Fund Development, Rady Children’s Hospital Auxiliary. “The funds raised will support the auxiliary’s Endowment for Neuroscience at Rady Children’s Institute for Genomic Medicine. The endowment has the potential to make a profound impact on health care for children now and into the future,” she noted.
Cubic to Support Army Training
Under Potential $975M Contract
Cubic’s global defense segment has landed a spot on a potential five-year, $975 million contract vehicle for training, communications and technical support to various U.S. Army mission training complexes.
Dave Buss, president of Cubic Global Defense, said in a statement published Thursday the company seeks to leverage its NextTraining strategy to integrate live, virtual, constructive and gaming simulations to aid the Army’s home station training efforts.
CGD is one of three awardees on the Army’s Mission Training Complex Capabilities Support contract. The MTCCS program runs through Nov. 14, 2022, and covers training support for Army services component commands, corps, brigades, divisions and below levels.
The Army Contracting Command manages the indefinite-delivery/indefinite-quantity contract.
Dennis Probst Hired as VP of Development
for San Diego County Regional Airport Authority
Dennis Probst has been hired as vice president of development for the San Diego County Regional Airport Authority. He starts on Monday.
Probst comes to the Airport Authority from the Metropolitan Airports Commission (MAC) in Minnesota, where he was chief operating officer. The MAC owns and operates the Minneapolis-St. Paul International Airport and six smaller general aviation airports within the Minneapolis-St. Paul metro area.
Probst takes over for Jeffrey Woodson, who is retiring after serving as a vice president at the Airport Authority for 15 years.
“We are excited to welcome Dennis to the Airport Authority, where he will play a pivotal role in the future development of San Diego International Airport,” said Kim Becker, the Airport Authority’s President/CEO.
Two initial goals will be to shepherd to completion the international arrivals hall and the Terminal 2 Parking Plaza, both currently under construction. Probst will also help oversee the continuing refinement of the Airport Development Plan, which envisions the replacement of Terminal 1, in addition to other improvements.
Probst started at the MAC in 1997 as a building construction manager. At that time, the organization was kicking off the $3.2 billion MSP 2010: Building a Better Airport development program.