Thread: California in building boom

Orange County developer bringing 1,620 new homes to Corona



The Bedford project in South Corona will include a community center and 10 acres of retail, office, entertainment, lodging and other commercial businesses in the Bedford Marketplace.

A freeway interchange will also be built to access the development.

By JONATHAN LANSNER | jlansner@scng.com | Orange County Register
PUBLISHED: July 13, 2018 at 2:00 pm | UPDATED: July 13, 2018 at 2:00 pm

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https://www.ocregister.com/2018/07/1...mes-to-corona/

Southern California builders selling new homes at fastest pace in 9 years

CoreLogic data shows 18,117 new residences sold in the 12 months ended in May across the four counties covered by the Southern California News Group...

Chula Vista approves second bayfront development agreement


​Gustavo Solis Contact Reporter


Chula Vista gets two fire engines, $3 million for affordable housing and future hotel tax revenues.

Developers get to build luxury high-rise condos, a hotel, and office space in the bayfront.

In a nutshell, that’s the development agreement that Chula Vista’s City Council passed unanimously Tuesday evening.

Mayor Mary Casillas Salas noted the city isn’t offering any public subsidies and is receiving a lot of public benefits.

“This is really a remarkable project that, from the inception of it, is really adding so much to the city,” she said before Tuesday’s vote.

The development agreement covers a 33-acre site that is estimated to take 20 years to complete. The developers plan to divide the 33 acres into subdivisions and build from there.

Once done, it is expected to bring 1,500 residential units, 15,000 square feet of retail space, a 250-room hotel, and 420,000 square feet of office and commercial space to the bayfront.

The first part of the project will be five acres of mixed-use retail and residential development. City staff are currently reviewing the design plan.
Part of the development agreement stipulates that they must begin construction before 2023.
This is the first development project in the bayfront to come before the City Council since the council approved a development plan and revenue-sharing agreement for a $1 billion hotel and convention center.
That project is expected to be a catalyst for future redevelopment of Chula Vista’s bayfront.
Elected officials anticipate development along the bayfront will generate much-needed tax revenues for San Diego County’s second-largest city.
Currently, only 2.3 percent of the city’s general fund revenue comes from hotel taxes. Because of rising pension costs, the city is looking at growing deficits in the coming years.
During Tuesday’s presentation, the developers showed a video depicting a three-dimensional rendering of their proposed community.
“The new community shall be named Amara Bay, which means eternal or immortal in the Indian language,” said a male voice while describing the “extraordinary new luxury community.”
The western portion of the development will be made up of seven residential condo towers that owners will be able to use as short-term rentals, providing more tax revenue to the city. The eastern half will have office, retail and hotel space that, along with construction, is anticipated to generate 7,000 jobs.
During the presentation, one Chula Vista resident worried what impact high-rises would have on his view, breeze, and property value.
The developers said they’ve looked at heights, setbacks, and building orientation to ensure views to the bay are preserved for each building and the general public.
Mayor Salas was so confident of the project that she guaranteed the concerned resident’s property wouldn’t lose value.
“I can guarantee that your property value is actually going to go up,” she said.

http://www.sandiegouniontribune.com/...718-story.html

San Diego County doubles hotel rooms under construction — 3,400

Lori Weisberg
Coming off an already record-setting 2017, hotel development throughout California so far this year shows no signs of slowing, even as construction costs continue to climb. There are currently 183 hotels accounting for nearly 26,000 rooms under construction up and down the state — a more than 40...

The San Diego Union-Tribune

Three housing developments, totaling nearly 4,000 homes, approved by supervisors

Three housing projects seeking amendments to the county's General Plan were approved Wednesday by the county's Board of Supervisors during a virtually ...

7/26/18

Does Orange County need 72 more hotels?

30-07-2018 09:30 via Orange County Register


Orange County got a trio of new hotels so far this year with 72 more in the works.

And Orange County isn’t alone.
Regionally, 11 hotels just opened and 472 are in some stage of development, according to Atlas Hospitality’s first-half summary of the hotel construction scene.

http://www.newslocker.com/en-us/regi...2-more-hotels/

7 new student housing projects within a mile of Sacramento State


REAL ESTATE NEWS
Commuter college no more? Here comes housing for 4,000 students near Sacramento State

10:38 AM

Building a vast new city on LA's northern edges . . .

Los Angeles Times-Aug 26, 2018
Tejon Ranch, a 270,000-acre plot, is one of the last frontiers of relatively ... Valencia and, most recently, Newhall Ranch, a 21,500-home project ...

San Diego
Mission Valley getting 840 more apartments — at Town and Country resort

http://www.sandiegouniontribune.com/...927-story.html

Supervisors OK 2100-Home Newland Sierra Development in North County

Times of San Diego