California State Government and Public Real Estate News

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Mayor Edwin M. Lee today presented his proposed May 1st budget for the City’s four enterprise Departments (the Airport, Municipal Transportation Agency, Port, and Public Utilities Commission) as well as eight self-funded departments (Board of Appeals, Building Inspection, Child Support Services, Environment, Law Library, Library, Rent Arbitration Board, and Retirement System), as well as support for the San Francisco Unified School District, totaling $6.8 billion over Fiscal Years 2016-17 and 2017-18
BRIDGE Housing and The John Stewart Company (JSCo) have been selected through the City’s competitive Request for Proposals process to develop 182 apartments for low- to middle-income residents at 88 Broadway.
The Board of Directors of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) voted last Friday to support a $1.3 billion proposal by California Assembly members to create affordable housing programs
On April 28th Santa Cruz County Supervisor John Leopold and Reverend James Lapp of St. Stephen’s Lutheran Church joined other county leaders to celebrate the groundbreaking of St. Stephens Senior Housing, an affordable rental community being developed by MidPen Housing in partnership with St. Steven’s Lutheran Church. The ceremony begins at 12:00 p.m. at 2500 Soquel Avenue in Santa Cruz
Washington, D.C. – (RealEstateRama) — About 50 SILVAR members joined over 2,000 California REALTORS® in Sacramento on Wednesday for the annual California Association of REALTORS® (C.A.R.) Legislative Day, the one day each year that the state’s REALTORS® meet with their legislators and discuss real estate-related policies and issues.
Earlier today, the California Reinvestment Coalition called on the Department of Housing and Urban Development (HUD) to impose a moratorium on any additional reverse mortgage foreclosures by CIT Group and its subsidiary, Financial Freedom. The call for a moratorium is based in part on new data (see fact sheet here) that CRC obtained from HUD, indicating that Financial Freedom/CIT Group’s share of reverse mortgage foreclosures (39%) since April 2009 is more than two times greater than the company’s estimated market share (17%).
Mayor Edwin M. Lee today announced backfilling Federal cuts to maintain the City’s current funding levels for HIV/AIDS prevention and health services to protect essential services to the City’s most vulnerable. The funding will maintain primary care services and critical support services for San Franciscans living with HIV/AIDS, including hospice, treatment adherence, case management and housing.
Hanley Investment Group, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Executive Vice President Eric Wohl completed the sale of the Gateway @ Cedros, a rare trophy coastal retail center in Solana Beach, Calif. The sale price was $6.725 million, representing $837 per square foot.
U.S. Representative Ed Royce (R-Calif.) made remarks on the floor of the House of Representatives in support of H.R. 2901, the Flood Insurance Market Parity and Modernization Act
Opened in August 2013, the 73,767-square-foot, LEED® Platinum Science Complex offers optimal learning environments for the Physical Sciences, Life Sciences and Family & Consumer Studies programs while integrating sustainable technology that sets new benchmarks for energy efficiency.
Congressman John Garamendi (D-Fairfield, Davis, Yuba City, CA), the Ranking Member of the Transportation and Infrastructure Subcommittee on the Coast Guard and Maritime Transportation, convened his Maritime Advisory Committee at the California Maritime Academy in Vallejo. More than 50 people participated in the discussion, representing state and federal agencies, maritime businesses, and labor union
Statewide pending home sales in California decreased in March on an annual basis for the third straight month, reflecting high demand for a dearth of homes available for sale on the market, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today
“In an attempt to inform residents in two of our public housing communities about an exciting job opportunities program that SHRA has created, we distributed approximately 480 flyers that contained wording we thought would be helpful to residents looking for employment. We couldn’t have been more wrong in our approach to communicate our message. Our flyer offended some residents who felt disrespected and stereotyped and we are sorry,” said SHRA Executive Director La Shelle Dozier.
With runoff from spring storms boosting reservoir levels, the Department of Water Resources (DWR) today increased its water delivery estimate for most recipients to 60 percent of requests for the calendar year.
International award-winning firm KTGY Architecture + Planning is pleased to announce that Timber in Newark, Calif., built by visionary California homebuilder Trumark Homes and designed by KTGY, received top honors at the 2016 Building Industry Association (BIA) Bay Area Excellence in Home Building Awards earlier this month. Timber received the “Multi-Product Community of the Year” Award and “Best Architectural Design – Multi-Family” Award. The community also received an award for “Best Signage
WASHINGTON, D.C. – (RealEstateRama) — A Long Beach accountant awaiting trial for embezzling money from a county foster home has been indicted on similar charges involving another foster home, the Los Angeles County District Attorney’s Office announced today.
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that President Ed Hanley and Senior Vice President Kevin Fryman represented the buyer and seller in the sale of Stevenson Ranch Plaza in Santa Clarita, a 97% occupied, 187,035-square-foot Ralphs grocery-anchored shopping center located in the Los Angeles metro area. The sale price was $72.5 million.
Attorney General Kamala D. Harris today announced her support for the Homeowner Survivor Bill of Rights, California Senate Bill 1150, legislation authored by Senators Mark Leno (D-San Francisco) and Cathleen Galgiani (D-Stockton). The proposed bill would require companies that collect payments from borrowers—mortgage loan servicers— to communicate with the widowed spouses and survivors of homeowners to ensure that survivors receive accurate information about assuming responsibility for a mortgage and avoiding foreclosure. This legislation builds on Attorney General Harris’ work in 2011, when she secured $20 billion in relief for California homeowners
Two men were convicted and sentenced today for cutting down a tree which housed migratory and protected birds. Stephen John Esser, 47, Dana Point, and David Roger Stanley, 41, Downey, each pleaded guilty to one misdemeanor count of unlawful possession and destruction of bird nests/eggs, and one misdemeanor count of unlawful taking of migratory nongame birds. They were each sentenced to three years of informal probation, ordered to serve 120 hours of community service in lieu of 15 days in jail, and both defendants were ordered to pay $14,000 in fines and restitution.
The Department of Justice and the U.S. Environmental Protection Agency (EPA) today announced that a group of 66 companies have agreed to clean up contaminated groundwater at the Omega Chemical Corporation Superfund Site in Whittier, California.  The settlement requires the companies to spend an estimated $70 million to install wells and operate a groundwater treatment system.  In addition, the parties will reimburse EPA $8 million and the California Department of Toxic Substances Control $70,000 toward costs incurred in those agencies’ past cleanup actions at the site
Brown Directs Nation’s Fourth Largest Home Lender to Suspend Foreclosures Until It Proves It Is Complying with the Law

LOS ANGELES, CA – September 27, 2012 – (RealEstateRama) — Attorney General Edmund G. Brown Jr. today directed Ally Financial, Inc., formerly known as GMAC, to prove immediately that it is complying with state law or, if it cannot, to cease and desist from foreclosing on California homes. Sothebys more »

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