Mayor Lee and Supervisor Campos Introduce Legislation Allowing Development Funds to Benefit Local Neighborhoods
Mayor Edwin M. Lee today announced legislation co-sponsored with Supervisor David Campos that will allow fees from residential developments of 25 units or less to remain in the neighborhood where the new development is built. The fees will be allocated to purchase buildings where long-term tenants are at risk of being evicted due to market pressures and then make those units permanently affordable housing.
A man was charged with trespassing yesterday after jumping into the ocean and a pool from private property in Laguna and Newport Beach and posting videos of the incidents on YouTube. Anthony Booth Armer, 28, Laguna Niguel, is charged with two misdemeanor counts of unauthorized entry of a dwelling and one misdemeanor count of trespassing with intent to interfere with business. His arraignment date and time are to be determined.
Flood and fire officials from the California Department of Water Resources (DWR), CAL FIRE and the National Weather Service (NWS) warn that weather and land conditions across California increase the potential for flash flooding during the rainy season now under way. Five years of drought conditions have exacerbated wildfires across the state. Rain is beginning to fall on fire burn scars, making these areas prone to sudden erosion along roads and through neighborhoods.
Mayor Edwin M. Lee today announced a groundbreaking new housing development in the Excelsior District that will create 50% of the units as new permanently rent-controlled with just cause eviction protections and the remaining 50% of the units permanently set aside as affordable housing for low, moderate and middle income households. The development is entirely privately financed
SACRAMENTO, Calif. - (RealEstateRama) -- The California State Historical Resources Commission (Commission) will consider 24 nominations for federal historic designation and one nomination for...
Amid declining affordability and tight housing supply, California pending home sales rise in September
California pending home sales improved from the previous month and year, however, overall market conditions appear to be slowing down and closed transactions plateauing, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm is marketing for sale a rare fee-simple ground-lease opportunity on South Lake Avenue in Pasadena, Calif. The offering, which is currently unpriced, is for the fee-simple land underlying The Shops on Lake Avenue retail and parking and is shadow-anchored by Macy’s.
Rep. Norma J. Torres (D-Pomona) was awarded the National Association of Home Builders’ (NAHB) Defender of Housing Award at a reception hosted by the Building Industry Association of California Baldy View Chapter this Thursday at the Doubletree Hotel in Ontario.
ROEM Development Corporation celebrated the groundbreaking of Evelyn Family Apartments on Wednesday, October 19. Located at the southwest intersection of East Evelyn Avenue and South Bernardo Avenue in the City of Mountain View, Evelyn Family Apartments will be an affordable multifamily apartment community on a 1.93 acre site. The development will offer studio, one, two and three-bedroom apartments to families making up to 60 percent of the Santa Clara County Area Median Income.
California existing home sales ticked up in September on a year-to-year basis for the first time in seven months as a shortage of homes available for sale continues to hold back the market, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm is marketing for sale a newly-constructed two-tenant retail building occupied by WSS (Warehouse Shoe Sale) and Krispy Kreme Doughnuts, located at the signalized intersection of Vineyard Avenue and Riverpark Boulevard in Oxnard, Calif
New ROEM $27 Million Transit-Oriented, Sustainable Apartments Celebrate Grand Opening in Baldwin Park
On Thursday, October 13, 2016, the City of Baldwin Park and ROEM Corporation celebrated the grand opening of Metro Village. Located at the northeast corner of Ramona Boulevard and Maine Avenue, Metro Village is a new construction, mixed-use, affordable multifamily apartment community on a 1.01-acre site. Metro Village offers one, two, and three-bedroom apartments affordable to families making 60 percent or less of the Los Angeles County Area Median Income and 5,500 square feet of commerce retail space.
Capital Pacific, a leading retail investment brokerage firm, recently brokered the sale of a 1,776 square foot Starbucks drive-thru in Greensboro, NC. This was the second time that Joe Caccamo of Capital Pacific has sold the asset. He first sold it in 2006 on behalf of the original developer. The property just sold again for $1,784,879 to a California-based investor.
The Insurance Institute for Business & Home Safety (IBHS), the California Fair Plan Association, AonBenfield Company and Renaissance Re sponsored a California Executive Summit on Wildland Fire October 5-6 in Los Angeles.
U.S. Representative Ed Royce (R-Fullerton), Chairman of the House Foreign Affairs Committee, convened a round table discussion with local business leaders from the Asian American community. The group spoke about federal issues of concern to small business owners including tax reform, trade agreements, access to capital, regulatory relief, and infrastructure investment
Local government continues lining up behind Congressman Issa’s bill that would allow communities the ability to implement oversight of sober living facilities. The Orange County Board of Supervisors now becomes the second local government in our district to announce it’s support of the Safe Recovery and Community Empowerment Act (H.R. 6070). The City of San Clemente previously endorsed the legislation earlier in September.
Hanley Investment Group Negotiates Sale of Multi-Tenant Retail Pad, Shadow-Anchored by New Walmart Supercenter...
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm represented the buyer and seller in the off-market sale of a 13,940-square-foot multi-tenant retail pad, shadow-anchored by a new Walmart Supercenter at 13325 Main Street in Hesperia, Calif. The sale price was $8.5 million, yielding a cap rate of 5.33 percent. The transaction represents a record-low cap rate for a fully-leased multi-tenant retail pad over 10,000 square feet in the Inland Empire since 2008, according to CoStar.
Hanley Investment Group Completes Sale of Rare Single-Tenant Enterprise Rent-A-Car in Redlands at 5.5%...
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Senior Vice President Jeremy McChesney completed the sale of a rare single-tenant absolute net-leased Enterprise Rent-A-Car property in Redlands, Calif. The purchase price was $1,520,000, which represented a cap rate of 5.55% and $626 per square foot
Congresswoman Susan A. Davis (D-San Diego) and Veterans Village of San Diego (VVSD) announced over $1.4 million in federal grants to help homeless veterans in San Diego. Vietnam Veterans of San Diego will receive the grant money to further their efforts to get homeless veterans off the streets and into financial stability.
When talking about housing in California, compromise is sometimes the last word that comes to mind. A forum held last Thursday in Sacramento was designed to start moving toward that goal