Setai San Diego Announces Executive Team
 

Setai San Diego Announces Executive Team
Team Will Lead Opening of Luxury Downtown San Diego Hotel Later This Year
Last update: 3:49 p.m. EDT Oct. 7, 2008

SAN DIEGO, Oct 07, 2008 (BUSINESS WIRE) -- Setai San Diego, a premier 184-room luxury hotel located in downtown San Diego, has announced the executive team to oversee the opening and operations of the $150 million property. As previously announced, Craig Waterman will lead the team as general manager. Joining him is Director of Sales and Marketing Tohnia Miller, Hotel Manager Steve Gomez, Spa Director Michelle Frye and Executive Chef Anthony Calamari. Setai San Diego will open in late 2008 and includes a 5,500 square-foot spa, 20,000 square-feet of event space, a restaurant, pool deck and lounge, and the most exclusive three-story penthouse on the West Coast.
Waterman, a 22-year veteran of the luxury hotel industry, will oversee all daily operations for the entire property and ensure the needs of every guest are anticipated and met. Most recently, he served as general manager at the Four-Diamond Water Color Inn & Resort in Santa Rosa Beach, Florida. Previously, he was general manager at the famous Miami Shore Club.
Collaborating closely with Waterman is Tohnia Miller, director of sales and marketing. In her role, Miller manages all sales and marketing initiatives and oversees group business reservations for the 20,000 square-feet of event space. Setai San Diego's meeting space includes the Grand Setai Ballroom, seven conference rooms, a private screening room and a recording studio. Miller served as general manager of the Mosiac Hotel in Beverly Hills and was responsible for overseeing all sales and marketing efforts. She brings over 20 years in the hospitality industry.
Steve Gomez, Setai San Diego's hotel manager will oversee the daily management of the hotel. He will work closely with hotel staff to ensure exceptional customer service. Prior to joining the Setai San Diego team, Gomez was assistant general manager at the prestigious Rancho Bernardo Inn. Before that he was director of room operations at the Pebble Beach Resort in Monterey, California.
As spa director, Michelle Frye worked hand in hand with the spa team to develop unique services for SPA SETAI. Treatments have been created with Indian, Japanese and Southeast Asian influences. Frye has served eight years in the spa field and 17 years in the hospitality industry. Previously, she was spa director at the Pacific Waters Spa at the Hyatt Regency Huntington Beach Resort and Spa. Frye also served as assistant spa director at the Grand Hyatt Kauai Resort & Spa.
With 12 years of culinary experience, Anthony Calamari brings his training in French and Californian cuisine to the hotel's food and beverage program. After earning his culinary degree at Tante Maria's Cooking School, Calamari traveled abroad to Europe where he cultivated his unique style and flavor. Most recently he was the Executive Chef at Cielo Restaurant at the Ventana Inn & Spa, Big Sur, California, which was included in Conde Nast Traveler's "Hot List" 2006.
Rounding out the executive team are Director of Finance Joe Harvey and Director of Human Resources Mike Nowland.
The Setai San Diego will offer ultra-chic, world-class amenities, sophisticated design and a luxurious destination for discerning travelers. For further information on Setai San Diego please visit www.setaisandiego.com or call 619.513.3000.
SOURCE: Setai San Diego
Bailey Gardiner for Setai San Diego
Carrie Shields, 619-295-8232 ext. 108

Copyright Business Wire 2008

Filing Amended In Broadway Complex Case
 

10News San Diego:
If you have been following the North Broadway Complex story, you will find this latest court filing of interest. Attorney Corey Briggs is amending an earlier filing he made. A court hearing on this amended complaint is scheduled for October 27.
If you open up this document, you will see how two of the additional claims relate directly to the story the 10News I-Team broke.
The claims refer to the fault in the proposed development area that has never been addressed by CCDC nor the developer. As the I-Team found, there is an active fault cutting into the property from the bay.

http://www.10news.com/news/17725627/detail.html

I think the precense of a fault is being over-inflated. If one is there, build a stronger building. It's not unheard of... the UC Berkeley plans to rebuild their stadium atop one. At teh end of the day, it should not stop the project.

Can't say I'm surprised by this:

http://www.signonsandiego.com/news/m...6fountain.html

Apparently Cosmopolitan Square was not worth $65 million
 

High-rise proposal near Petco goes bust

By Mike Freeman
UNION-TRIBUNE STAFF WRITER
October 18, 2008

The developers of Cosmopolitan Square, a proposed 39-story hotel/condo project overlooking Petco Park, failed in a last-minute bid to find new financing and lost the full-block site to foreclosure.

At an auction Thursday, senior lender SDG-Left Field took control of the undeveloped downtown block at J Street and Seventh, Eighth and Island avenues to satisfy $20.6 million in debt and penalties.

Although home foreclosures have surged locally in the past two years, it remains unusual for a commercial project to fall into foreclosure. But some real estate experts are watching to see how much of a strain the credit crisis puts on commercial real estate owners – particularly those who bought buildings at sky-high prices during the boom.

In 2005, San Diego-based Simplon Ballpark LLC bought the Cosmopolitan Square site for $25.5 million. Initially, it got land-use approval for a 334-unit condo tower.

As the housing market crumbled, Simplon pivoted to propose an upscale Mondrian Hotel for two-thirds of the high-rise, with the remainder being very high-end condos. The project also included a new city fire station.

Armed with appraisals estimating the property value at more than $65 million, Simplon racked up nearly $40 million in debt. But the company fell behind on loan payments and filed for Chapter 11 bankruptcy reorganization in March to avoid foreclosure.

Simplon also filed for bankruptcy on two other partial blocks it owned downtown – one at State and Ash streets in Little Italy and another at 17th and G streets. The State and Ash site was lost to foreclosure in July. The 17th and G bankruptcy is ongoing.
Simplon officials did not return a phone call and an e-mail seeking comment.

The company, which previously developed Radisson hotels in San Diego and National City, worked for months with a handful of lenders in hopes of securing a bridge loan that would pay off SDG-Left Field and other loan holders.

The bankruptcy has been messy, particularly in the past two weeks. As negotiations with potential lenders dragged on, a bankruptcy court judge gave Simplon until Oct. 6 to secure a loan or face foreclosure. SDG-Left Field agreed to delay the auction until Oct. 11, when one lender looked like it might fund a $33 million bridge loan.

When that deal fell apart, a junior debtor on the project filed for bankruptcy in hopes of preventing SDG-Left Field from foreclosing. The junior debtor is an entity linked to Scripps Investment and Loan in La Jolla. It originally lent Simplon $13.5 million and is likely owed more with unpaid interest and penalties.

On Wednesday, a bankruptcy court judge said SDG-Left Field could go ahead with foreclosure despite the Scripps entity bankruptcy.

SDG-Left Field is controlled by Steve Black of Cisterra Development, a major office developer in San Diego. Cisterra recently built DiamondView Tower, a 15-story high-rise a few blocks from the Cosmopolitan Square site.

Cisterra sold DiamondView to a German real estate company recently for $161 million.

Last year, SDG-Left Field bought the original $15 million senior debt on the Cosmopolitan Square property from Liberty Bankers Insurance of Oklahoma. David Dick, an attorney for SDG-Left Field, declined to say how much Liberty was paid for the note.

The site is not for sale today, Dick said.

“It is a very well-located piece of real estate,” he said. “While we were ready and willing to be paid off . . . we are very happy to own it. It's a great piece of real estate.”

Even though Cisterra is primarily an office developer, it's too early to say whether it will seek city permission to change the use from the current hotel/condo approvals. Dick acknowledged that an office building also would be difficult to move forward in today's credit market.

Mike Freeman: (760) 476-8209; mike.freeman@uniontrib.com

Woot!!

I sure hope whatever goes up instead is something big and dense that fully utilizes the lot. These large lots need to be fully taken advantage of looking well into the future and I think the CCDC needs to regulate on that.

Speaking of large lots does anyone know who owns the land on the lot between 8th & 9th north of C? I looked at the CCDC's website and couldn't find any projects listed there. With Vantage Pointe getting ready for completion and 1050 B Street's crane up and running it seems like that area will be getting busier and busier over the next few years.

16th & Market is looking pretty good :)

I recall that the downtown community plan depicts a park on that block; occupying about one-half the lot on the C Street side.

Pics? :)

I was driving at the time...but I do have this pic of Vantage Point in the skyline. :)

http://photos-c.ak.facebook.com/phot...241770_818.jpg

and another of the El Prado Bridge
http://photos-h.ak.facebook.com/phot...41775_2632.jpg

:)

Also, do you guys know of any orphanages in San Diego?

My organization wants to hold a holiday drive collecting toys, clothes, food, money, etc and donate it to an orphanage here in San Diego. Usually we go to one in TJ but this time they want to go to one in the city. But I can't find one...

Too bad for cosmo square.

It will be great to get another office tower in the hood thought

CCDC BOARD GRANTS CONCEPT DESIGN APPROVAL FOR NAVY BROADWAY COMPLEX PARK (Columbia/Marina)

The Board approved the concept design for Navy Broadway Complex (NBC) Park, which will be located on the western half of the block bounded by Broadway, Harbor Drive , Pacific Highway and the extension of E Street. The 1.9 acre park site adjoins the proposed Manchester Pacific Gateway, LLC development as part of the overall Navy Broadway Complex development. In developing the concept design, CCDC and the design team incorporated feedback from both the community outreach process specific to the park and community workshops facilitated as part of the larger Navy Broadway Complex project, the subject of an agreement between the City of San Diego and the United States Navy. The NBC Park design was incorporated into the Superseding Master Plan for the Navy Broadway Complex and found to be consistent with the Development Agreement in July 2007. Minor modifications to the NBC Park design, as found in the Superseding Master Plan, are proposed to conform to the recently modified North Embarcadero Visionary Plan. In addition, the park will implement a number of the recommendations of the Downtown Community Plan and result in additional open space for downtown. (Vote 4-0 with Directors Brown and Shaw excused and Director LeSar not present for vote.) To read the complete staff report here is the report.

http://www.ccdc.com/events/resources...%20-%20NBC.pdf

Well, at least here's some good news.

Footbridge to Petco Park under construction
By Jeanette Steele
UNION-TRIBUNE STAFF WRITER
3:16 p.m. October 23, 2008

Construction crews are boring the first holes for a landmark $26.8 million downtown San Diego footbridge, in part so that Padres fans can cross safely to their cars from nearby Petco Park.

At a groundbreaking ceremony Thursday, Mayor Jerry Sanders lauded the start of the sometimes-controversial Harbor Drive project while defending its cost and importance. The project's price has ballooned from an estimated $12.8 million in 2005 at a time of tight city budgets and new revenue shortfalls.

The southwest side of the bridge connects to a 2,000-spot parking garage and a Hilton hotel that will open in December.

But the northeast side will now lead only to an empty parking lot instead of the luxury Marriott hotel once envisioned – though property owner JMI Realty, Padres owner John Moores' development company, is looking for a new hotelier after Marriott dropped out.

Sanders said the city's $11.1 million contribution was worthwhile because San Diego needed a bridge if it wanted to reopen the Park Boulevard pedestrian crossing that was closed for the ballpark. Also, the money is coming from downtown redevelopment taxes, which can't be used elsewhere in San Diego.

“The project had to move forward,” Sanders said after the ceremony. “And the fact that the community wanted an iconic structure, and we worked with them, I think it makes it a good use of money.”

Here's how the funding breaks down:

* $11.1 million from the city's downtown redevelopment district

* $6 million from a grant tied to a 2006 transportation state bond

* $4.9 million from Moores' company

* $2.8 million from the Federal Highway Administration

* $2 million from a state transportation program

http://www.signonsandiego.com/news/m...3bridge123.jpg
http://www.signonsandiego.com/news/m...n23bridge.html

When will the bridge be completed? Sometime during baseball season next year, I hope.

The bridge is a wonderful investment in downtown. I am looking forward to seeing in progress over the next few months. Hooray for decision makers and others that made it happen.

Winter 2009

Woot!