The military would probably give it up if someone paid for a replacement elsewhere. I'll suggest Ramona. Maybe switch with Brown Field? Unfortunately the November vote cut-of the airport authority's ability to even discuss such options!

^Yeah, it looks like the plan now is to make SDIA workable "for the next 15-20 years" according to what I've read.

Off topic, but does anyone know what the deal is with the two Marriott properties in the Gaslamp?

I hope they don't. One of the reason our infrastructure is so stretched is the services are stretched all the way up to Black Mountain Ranch, RB, Otay, Etc...

That parking lot is owned by Bosa. They are making a lot more money as a parking lot than they would as a building right now.

+/- 200 parking spots @ $20 per day = $4000 per day X 24 working days per month = $96,000 per month.

12 months @ $96,000 per month = $1,152,000 per year.

At an 8 CAP, it would be worth $14.4 million.

Bassam is gone.

I agree. I hear people quote it all of the time. I want to see it is black and white.

If that was really the case, why hasn't any new tower even approached that height yet? No one is pushing past 420'. They could squeeze a few more floors in, especially along the water.

Nobody is building a 500' tower in the South Bay anytime soon. They can't even get the current midrises financed.

Developer of condos may ask city for loan




By Tanya Sierra
UNION-TRIBUNE STAFF WRITER
April 6, 2007

NATIONAL CITY – The Australian development company that promised two years ago to build a 21-story luxury condominium project in National City is now considering asking city officials to lend the firm up to $2 million.

Executives of Constellation Property Group won't discuss why they need a loan, but city officials said the company's financial partner – Phoenix Realty Group – wants to pull its money out of the project. Representatives at Phoenix Realty acknowledged they are partners with Constellation but would not discuss whether they are withdrawing from the project because they are still negotiating.
Securing financial backing has become a challenge in San Diego County since the housing market softened, Constellation's development director, Wayne Hann, said last month.

Officials are counting on the Constellation project – a four-story development named Centro and the high-rise Revolution/Lumina – to jump-start redevelopment in a city struggling with poverty, crime and a run-down business corridor. Revolution was one of the first high-rise condo proposals in National City and is among four planned for National City Boulevard.

City officials should view the Constellation loan as an investment, said Brad Raulston, the city's redevelopment director.

“It's tied to construction and it's a short-term loan,” Raulston said. “They're not asking for a subsidy. This is a good risk or investment for us to take.”

The loan would be no more than $2 million, would come from the city's redevelopment budget, and would be used to help Constellation buy out Phoenix Realty's stake in the deal, Raulston said.

The redevelopment agency budget, about $28 million a year, is separate from the city's general fund. Its revenue is mostly from the property tax increment and grants. Redevelopment money can be used on projects that revitalize the community within the redevelopment zone and also on administrative costs associated with the projects.

Constellation is still working out financial details and has not formally requested a loan from National City. However, city officials have met in closed session to discuss it. Mayor Ron Morrison expects Constellation to make the request within the next month.

Morrison said he believes the project is worth a loan.

“They have really stuck with it,” Morrison said. “Some (developers) come in and everything is a demand and if they don't get what they want, they pack up and leave. They have been very above board on all of this.”

Constellation arrived in San Diego about three years ago but didn't approach National City until a year later.

The company has built about 10,000 condominiums in Australia. It is developing two residential projects in San Diego, one in Texas and one in Arizona. It recently pulled out of a project in Las Vegas.

The National City development includes three phases. The first is the Centro building, followed by two Revolution/Lumina buildings. One of the Revolution/Lumina buildings will be a high-rise that would include 150 condominiums and 130 hotel rooms. The other will house mostly commercial and retail space, meeting areas, a spa and a fitness center.

“We see National City as a great submarket,” Hann said last month.

Constellation targets urban, undiscovered areas where local government is eager to redevelop, said Eugene Marchese, the company's managing director.

The company's Web site describes the Centro project as “upbeat, urbane, unfettered – at the heart of a burgeoning community close to all amenities.”

Hann said last month that the company is hoping to cater to buyers from Mexico who want to be close to the border. This week, though, he said the group is not marketing to anyone until it gets all funding in place.

In 2005, Constellation launched a marketing campaign to promote the National City project.

The company opened a sales office on National City Boulevard and hosted a launch party for the project at downtown San Diego's Hotel Solamar that featured Australian food, live music and models of the National City project.

The company placed ads in magazines and on billboards and began taking reservations through its Web site.

After Constellation resolves its financial situation, it expects to break ground this year.

“Our goal is to announce the commencement of a construction date for the Centro project over the next two months,” Hann said.

Electra is 480' and 43 floors

or Brown Field, my dad works out at Donovan and once the 905's conversion into an interstate is complete it will only take about 15 minutes (traffic pending) to get there from downtown...the drive actually isnt too bad at all...but instead of the runway running east-west like it does, it would probablly need to be reconfigured to north-south due to the mountainous terrain...just my 2 cents;)

the only problem with that is the Tijuana airport...

good point with the switching thing:tup:

Anyone reading this thread is encouraged to join in, even if they do not already have an account at SkyscraperPage. Just create a log-in and discuss with us what you know about current and future activity in San Diego. Don't be a lurker:lurk:

i remember when i first joined there was only like 4 of us...now theres about 8...its nice:)






(talk about a LONG Pads game...a win is a win though;))

When was that?

August 06...there were only like 4 or 5 of us that were on here like everyday

BTW, not to toot my own horn, but does anyone remember me saying that no good could come from that airport vote? I hate being so darned right all the time! hahahaha

Even if the airport authority hadn't neutered itself, who thinks the city has the inclination, brainpower, and/or resources to pull off moving Miramar and building an airport in its place? If building only an airport is too difficult, how the hell would this city build and airport AND a Marine air station?

oh my...2,800+ posts in 9 months! I only have 280 or so since November 05! gesh!

But admittedly I am often elsewhere online. My alma mater is DI and talking college sports is fun. I actually help moderate another board if you believe that?

yeah, if they had brain power...



hey E, who is the person in your avatar? ive always been curious...

i have free time...

and yes i believe it:)

good luck with your sports though!

The basketball team needs a new coach, but at least the football program beat SDSU this past season... even though they are DIAA vs DIA!!! I've actually lost some interest in the program b/c of the conference basketball plays in and the admin not responding to a long over due need to get a new coach. oh well.

Why, that is my future wife (as soon as I break the good news to my current wife), the beautiful, effervescent, and delightful Mélissa Theuriau. She is without a doubt, the World's most beautiful journalist.

http://www.youtube.com/watch?v=jXl_eV8D5oc

http://www.youtube.com/watch?v=YWHvD-7anMc

Let's all take a stroll down Mélissa Lane...

http://www.melissa-theuriau.fr/forum...1_3_186111.jpg

http://www.melissa-theuriau.fr/forum..._1_6_14512.jpg

http://www.melissa-theuriau.fr/forum..._1_6_15683.jpg

http://www.melissa-theuriau.fr/forum..._1_1_36032.jpg

http://www.melissa-theuriau.fr/forum..._1_1_19623.jpg


:worship: :worship: :worship: :worship: