Daily Business Report-Dec. 5, 2017
The IDEA1 building during the last phase of construction. (Photo courtesy of I.D.E.A. Partners)
Grand Party Set for Grand Opening
of Landmark IDEA1 Community
IDEA1, a new mixed-use community designed to provide the opportunity to live, work, collaborate and create in one place, will host its grand opening event on Thursday in the heart of the I.D.E.A. District Downtown.
The 7 to 9 p.m. event at 895 Park Blvd. is open to the public and costs $10 with all proceeds going to Urban Discovery Academy, a free-public charter school serving Transitional Kindergarten through 8th grade students.
The event is designed to showcase the unique design features and experiences of the project with food and drink tastings, special performances, live music, art installations and more.
“We are thrilled to finally open this unique project to the public so that they can experience IDEA1 the way it is meant to be experienced,” said David Malmuth of I.D.E.A. Partners.
Added Malmuth partner Pete Garcia, “The grand opening will be the perfect way to participate in the activated spaces including The Hub, penthouse units, exercise room, rooftop clubhouse, water tower spa, IDEA Box and more.”
The IDEA1 Grand Opening will include:
Food samples from Brian’s 24, BESHOCK Ramen, The Corner Drafthouse, Lola 55, Park & Rec, Renegade, Waypoint Public and Searsucker; two complimentary drinks including hand-crafted cocktails by Snake Oil Cocktail Company; beer from Half Door Brewing and Young Hickory; and a selection of red and white wine; three educational experiences in the “IDEA Box,” an accessible think space that also doubles as a 10’ x 17’ projection screen; chef demo; whiskey tasting and donuts on the rooftop amenity deck.
Brittany Segal, a San Diego artist, will take over the largest penthouse for an artist showcase. Tours of IDEA1will be offered.
With a total of 295 apartment homes, 5,000 square feet of restaurant space, and 7,700 square feet of creative office space on the street level and a variety of common areas, IDEA1 is designed to help grow a community of entrepreneurs and fuel change makers, visionaries and professionals, according to I.D.E.A. Partners.
Three UC San Diego Professors Named
Recipients of 2018 Breakthrough Prize
Two full-time University of California San Diego faculty members and a plant biologist at Salk Institute for Biological Studies are recipients of the 2018 Breakthrough Prize in Life Sciences.
The honorees are UC San Diego faculty members Don Cleveland, who studies fundamental cellular mechanisms in the search for new treatments for diseases like amyotrophic lateral sclerosis, and James McKernan, a mathematician who investigates algebraic geometry and multivariate polynomials, along with Joanne Chory, a plant biologist at Salk Institute for Biological Studies and adjunct professor in the Division of Biological Sciences at UC San Diego.
The Breakthrough Prize is a set of international awards bestowed in three categories. The awards were founded by Sergey Brin, Anne Wojcicki, Mark Zuckerberg, Priscilla Chan, Yuri Milner, Julia Milner, Jack Ma and Cathy Zhang.
Each will receive a cash award of $3 million.
Don Cleveland, chair of the Department of Cellular and Molecular Medicine at UC San Diego School of Medicine, as well as a member of the Ludwig Institute for Cancer Research, San Diego, was awarded a 2018 prize in life sciences for his work “elucidating the molecular pathogenesis of a type of inherited ALS, including the role of glia in neurodegeneration, and for establishing antisense oligonucleotide therapy in animal models of ALS and Huntington’s disease.”
James McKernan is a Professor Above Scale and Charles Lee Powell Endowed Chair in Mathematics II at UC San Diego. He is being awarded the 2018 Breakthrough Prize in mathematics “for transformational contributions to birational algebraic geometry, especially to the minimal model program in all dimensions.”
Joanne Chory, a professor and director of the Plant Molecular and Cellular Biology Laboratory at Salk Institute and a Howard Hughes Medical Institute investigator, was awarded a prize in life sciences “for discovering how plants optimize their growth, development, and cellular structure to transform sunlight into chemical energy.”
Riverdale Shopping Center Sold for $10.1 Million
The Riverdale Shopping Center, a neighborhood retail center in the Mission Gorge area of San Diego, has been sold for $10.1 million to San Diego-based Becker Properties LLC. The seller was McKinney Survivor’s Trust.
Built in 1980, Riverdale Shopping Center is located at 10320-10370 Friars Road. The single-level CVS-anchored retail center was 100 percent leased at the time of sale and includes tenants Black Angus, and Armstrong Nursery.
CBRE represented the seller.
San Diego Hardware Celebrates 125th
Year With a Party for the Public
San Diego Hardware, one of the oldest family-owned businesses in San Diego, is celebrating its 125th birthday with a party for the public on Dec. 8 and 9. The event will commence with a ceremony, an official proclamation from the mayor’s office, a reveal of the identity of the mystery “Hardware Lady” model shown in the store’s original advertisement, and a preview of the store’s new e-commerce websites.
The public will be treated to food and anniversary specials and can enter to win prizes and gifts up to $1,500, as well as meet experts from the different hardware brands. Guests can also pose for photos with the “Hardware Lady,” a recreation of the original advertisement and look-alike model.
San Diego Hardware was first incorporated on Dec. 8, 1892. The store is the oldest business in the city still owned by its founding family, one of the founding members of the Chamber of Commerce.
The public events are Friday, Dec. 8 and Saturday, Dec. 9 from 8:30 a.m. to 5 p.m. at 5710 Kearny Villa Road in San Diego.
First Concrete Poured on
New Span Over Interstate 5
The first concrete was poured Thursday evening on the Gilman Drive Bridge, an iconic new crossing that will soon gracefully span Interstate 5 just north of the La Jolla Village Drive interchange. The new bridge will provide a much-needed connection between Gilman Drive on UC San Diego’s west campus and Medical Center Drive on the east campus. The first concrete pour will form the distinctive arches of the bridge’s design.
The construction of this $20.6 million project is a joint effort between San SANDAG, UC San Diego, and the California Department of Transportation. It is funded through a combination of local and private funding sources, including approximately $15.3 million from TransNet, the regional half-cent sales tax for transportation administered by SANDAG.
Concurrent with this project, SANDAG is designing and constructing the Mid-Coast Trolley project, an 11-mile extension of the San Diego Trolley Blue Line that will run north along I-5 from Old Town to UC San Diego and University City.
The Gilman Drive Bridge will help ease traffic flow by allowing travelers to go from one side of campus to the other without using already congested roads such as La Jolla Village Drive and Genesee Avenue.
Construction on the Gilman Drive Bridge is anticipated to be completed in 2019.
Stefanie Warren Reappointed to Regional Water Quality Control Board
Dentons, the global law firm, announced that San Diego commercial litigation counsel Stefanie Warren has been reappointed to the San Diego Regional Water Quality Control Board by Gov. Jerry Brown, a position she has held since 2013.
Warren’s practice focuses on complex environmental regulatory structures, federal and state government investigations, and resolution litigation in court and before administrative tribunals. Prior to joining Dentons, she served as a law clerk to the Honorable Irma E. Gonzalez of the US District Court for the Southern District of California. Warren earned her JD from Emory University School of Law, cum laude. She also holds a BA from Emory University, magna cum laude.