SAN DIEGO | Boom Rundown, Vol. 2

[Nerv]

Yeah. Again I'm interested if the project I posted on is dead or not. I know a third tower is long dead.

If I remember correctly both Hyatt and Marriott proposed new towers. Marriott was told no and the Hyatt got a green light to build their second way back when.

The project above wasn't a tower but adding some size able meeting room space. It sounded like it was a go if Marriott wanted to build it since I saw nothing of it as "pending any approval" so I assumed it was good there.

I'm guessing it might be a money issue at the time or just waiting for the right time in the economy to build it? Either way, the project remains silent so is it dead, dead or new library slightly dead (which we all know finally did get built.)


I talked with comic con organizers back in 2010 or 2011 and they were excited about it back then but I hadn't thought to bring it up since I even forgot about it.

This is one of those smaller projects that could be a big benefit to larger trade shows like comic con. The size of those meeting rooms would be like adding two more Ballroom 20's to the convention center. It would be nice if this was just being delayed for money/economy reasons and not shelved completely.

[Bertrice]

China camp building is fenced off.Also noticed a few smaller construction projects/fenced lots in L.I.

[Nerv]

Is this the most current rendering of the project or has it been updated?

[tyleraf]

No nerv, that is the most recent. I'm glad to see fat city getting started it will add some much needed density to that part of Little Italy.

[Erip]

Finally, this project is about to get some movement! I was worried that since Graham Downes was the developer, his death would have put an end to it. Goodbye Mandarin House, hello Mandarin Haus
http://eater.cc/1gyKZQy

[TransAustin]

Originally Posted by Erip

Finally, this project is about to get some movement! I was worried that since Graham Downes was the developer, his death would have put an end to it. Goodbye Mandarin House, hello Mandarin Haus
http://eater.cc/1gyKZQy

:/ Having mixed feelings about that one.

[spoonman]

It must be pick on Chinese restaurants week. First China Camp, now Mandarin House. At least it's not Imperial House, and there is another location of Mandarin House in La Jolla.

[tyleraf]

Good news! Lane Field is scheduled to break ground on March 1st. Hughes Marino - Downtown Dirt Q3 2013

[Derek]

It's about damn time...


I'll believe it when I see it.



What the hell is the status on the NBC project???

[tyleraf]

The coastal commission sued Manchester construction is scheduled to start at the earliest in 2015. http://www.utsandiego.com/news/2013/Jan/28/navy-broadway-complex-coastal-commission-sue/

[Derek]

Really? That is so depressing.

[spoonman]

La Jolla Commons 3 is going to break ground soon on an office tower, for an early 2015 completion. This takes the corner spot at La Jolla Village/Judicial, which most recently was to be a hotel.

I don't have a height for the tower, but it looks like the other 2 on the site.

Hines seems very aggressive to develop this site. In looking at the old renderings with the condo-hotel towers, I can't help but wonder if they will use the remaining land next to the parking structure for a hotel/condo tower.

Story

http://www.hughesmarino.com/hughes-marino-blog/building-up-in-utc/



Old Rendering

[Nerv]

I wasn't a big fan of how La Jolla Commons tower 2 looks. Not horrible, just very,very plain and shorter than expected.

La Jolla Commons tower 3 does look a little bit better it seems. It's still just a box but it's a little better looking box.

There's also another project scheduled to be built in the same time frame, La Jolla Centre 3. It's 14 stories so expect around 200+ feet in height.

http://www.irvinecompanyoffice.com/view/...y-towne-centre-3/la-jolla-centre-iii-241




If they both get going as expected you'll see them completed by 2015.

[Nerv]

I say "if" too because the market probably only needs one tower right now, not two. So if no one blinks and we get two towers built in 2015 the market will likely be over built. Not unusual though...

[Nerv]

Also moving right along with construction is UC Jacobs Medical Center in La Jolla due to open in 2016.






It's part of San Diego's recent flurry of hospital expansions and new construction although this baby will be state of the art. Here's the webcam if you want to follow the construction:

http://oxblue.com/open/JacobsMedicalCenter

[Prahaboheme]

Originally Posted by Nerv

Is this the most current rendering of the project or has it been updated?

I really like this project. It will have a nice visual impact at this intersection and will hopefully go a long way to making this a more pedestrian friendly stretch of sidewalk.

[Chapelo]

I work for the firm that's leasing La Jolla Commons II, we begin move-in in February of 2014. Our real estate group said we may taking space in Tower 3, as we have filled up Tower 2.

[spoonman]

Originally Posted by Chapelo

I work for the firm that's leasing La Jolla Commons II, we begin move-in in February of 2014. Our real estate group said we may taking space in Tower 3, as we have filled up Tower 2.

That's good news for the project.

Is there still a dirt hole near the parking garage? In looking at maps and pictures, I wonder if a hotel could fit there?

[Chapelo]

Originally Posted by spoonman

That's good news for the project.

Is there still a dirt hole near the parking garage? In looking at maps and pictures, I wonder if a hotel could fit there?

It was landscaped and is now a little "park", they also expanded the parking garage slightly. Of course, they could always remove the park later if needed.

You can see it in the lower right.

[SDfan]

SD development is building up, not out
By SAMANTHA HENRY, The Daily Transcript
Wednesday, October 23, 2013
http://www.sddt.com/RealEstate/article.c...ment+is+building+up+not+out#.UmhgWvmKK3g

Once-overlooked properties are now the center of the action as developers build up instead of out. Properties that were overlooked in the 1970s, ’80s and ’90s may have been passed over because they were too difficult, too small, opposed by neighbors or had entitlement or hazardous waste issues, said Gary London, president of The London Group Realty Advisors. The focus has shifted back to those properties for good reason, he said.“The development industry that preceded the Great Recession doesn’t exist anymore,” London said. “Those guys that built … homes mostly are gone. Those who are left are building sort of their own suburban infill projects.

“The people that are really at the center of where the action is are the people … who are taking a look at these properties that were once overlooked, and they said to accommodate the population and the growth that’s projected for San Diego … we have to look at these properties again and we have to figure out new, innovative ways to develop them. And that means what has happened since the Great Recession is a certain renaissance of new companies filled with people with new skills and new kinds of ambitions.”Panelists discussed projects in the works that seek to accommodate those needs at an event Wednesday hosted by San Diego State University’s Corky McMillin Center for Real Estate.

Robert Little, vice president of development for Kilroy Realty, explained how its One Paseo project in Carmel Valley will serve the marketplace, which is looking for collaborative-lifestyle-driven workplaces with an emphasis on LEED and sustainability. One Paseo is on 23 acres and is designed to have three land uses: retail, office and residential.
The design features a Main Street environment with residential and a cinema over the shops on Main Street. Little said the project creates an “authentic heart of the community,” which he said is lacking in that area. Discretionary income leaves the area because there aren’t enough amenities there, Little said. He added that he believes the combined uses will benefit each other.

The project has faced some controversy with residents in the area opposing it, claiming it will increase traffic. Little said it adds trips to the system but in a mixed-use format, which ebbs and flows differently than a single-use property. Little said that through the process the company tried to improve and rethink the plan to address concerned citizens, but “you can never make everybody happy.” The tension from any project comes from the change it creates, London said. From a market perspective, London said the project is a “no-brainer” and may serve as a model for allowing people to live, work and shop in a community.

Richard Paul Buss, president of OliverMcMillan, also faces residents’ complaints with a property in Hazard Center in Mission Valley. The property was built in the 1980s and is “ripe for a re-do,” Buss said. The project is designed to have more than 450 residential units in row homes and two tall residential buildings. “This kind of infill is good for our city. That doesn’t mean it’s easily accepted by those in low-rise condos,” Buss said. The project is waiting for a tunnel to be built under the trolley pass to access Fashion Valley, Buss said, and doesn’t expect to break ground for two to three years due to marketplace issues, adding that the primary issue is that approvals are tight.

Marco Sessa, senior vice president of Sudberry Properties, said the company’s Civita project in Mission Valley has 1,500 units in various phases of development. The project looks to satisfy those who want the orderly nature of a master plan but the urban feel, Sessa said. Younger people want to live in urban, not suburban, areas, Buss said.
Two large groups of buyers and tenants at Civita are 25- to 35-year-olds with kids younger than 5, and a 55-and-older group. Similarly, Little said, One Paseo hopes to provide more housing and price point options to those who don’t live in Carmel Valley because of the cost. He said there are many locals who “love the idea of downtown” and the walkability aspect, but don’t want to leave their community or network to move to downtown. Mixed use can become “mixed-up use” when too much is stacked in one area, Buss said. London added that the goal is to create a community where the uses complement each other.

London said some of the richest people he knows are people who never sell. Sessa said Sudberry plans to own its rental projects indefinitely. Little said One Paseo maximized its flexibility to be sold off in pieces, but there is a long-term hold strategy and intent to hold all pieces. Buss said the company intends to hold about half of the project."

Interesting note on the Hazard Towers.