California State Government and Public Real Estate News

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SILVAR’s fifth Certified International Property Specialist (CIPS) Institute at SILVAR took place this week with 17 students registered. The students, many of whom are SILVAR members, hail from the San Francisco Bay Area and Canada, and from different cultural backgrounds. Many are well-traveled and eager to learn more about the international real estate market and how to grow their global business.
Building on April’s gain, California pending home sales continued to rebound on a year-to-year basis, as listings increased, primarily in seven of nine Bay Area counties, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today
With the goal of getting San Diego’s fair share in federal homeless dollars, Mayor Kevin L. Faulconer and City Councilmember Todd Gloria today praised the U.S. Department of Housing and Urban Development (HUD) for moving forward with its commitment to reopen the comment period this summer regarding the decades-old federal funding formula for homeless services and realign it to more accurately reflect the realities facing American cities today.
Late yesterday evening, U.S. Congressman Scott Peters (CA-52) spoke with Secretary of Housing and Urban Development Julián Castro about progress on updating the Continuum of Care formula that determines how federal homelessness funding is allocated. Secretary Castro indicated that the Department of Housing and Urban Development (HUD) will put forward a proposal in mid-July that goes beyond Rep. Peters’ initial request of reopening the public comment period on the existing formula. Stressing the need for a long term solution, HUD will be seeking comments on specific approaches to modernize the formula.
With the near completion of 200 new, affordable housing homes, the $46 million Charlotte Park Apartments in San Jose, Calif., is a great example of ROEM’s expertise in building a high quality affordable residential rental community located within a market-rate development. In this case, ROEM Corp. satisfied most of the affordable housing requirement of the Hitachi master-planned community, with ROEM Builders, Inc., acting as both general contractor and construction manager.
A homeless man was sentenced today to four years in state prison for stealing a custom made tricycle for a teen with cerebral palsy, the Los Angeles County District Attorney’s Office announced.
Statewide median home price continues to climb; above $500,000 for second straight month - Existing, single-family home sales totaled 410,090 in May on a seasonally adjusted annualized rate, up 0.6 percent from April and down 3.2 percent from May 2015.
U.S. Representative Ed Royce (R-Calif.), a senior member of the House Financial Services Committee, released the following statement after the Federal Housing Finance Agency (FHFA) Office of Inspector General (OIG) issued a report on the increased budget for Fannie Mae's office relocation
The House of Representative today passed an amendment offered by Congressman McClintock to forbid scarce defense dollars from being spent to fund Green Energy Executive Orders. The amendment was adopted to the 2017 Defense Appropriations Bill. The Congressman's remarks in support of the amendment are attached
Congresswoman Julia Brownley (D - Westlake Village) is pleased to announce that the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Veterans Affairs (VA) awarded $113,700 to the City of San Buenaventura and the City of Oxnard to help homeless veterans transition into safe and affordable housing. The award will support 13 new housing vouchers that provide rental assistance for homeless veterans and will include access to supportive services
With the Skyline Hills Branch Library under construction behind them, Mayor Kevin L. Faulconer was joined today by several City Councilmembers as he signed the Fiscal Year 2017 Budget – a balanced budget that marks a doubling of infrastructure funding and near-tripling of streets funding since Faulconer took office
Rep. Pete Aguilar announced that the Housing Authority of the County of San Bernardino (HACSB) was awarded a $409,800 grant by the U.S. Department of Housing and Urban Development (HUD) and the United States Department of Veterans Affairs (VA) through the Veterans Affairs Supportive Housing (HUD-VASH) program. With this additional grant funding, HACSB now has the ability to subsidize housing for 457 veterans
Representative Scott Peters (CA-52) was informed by Julián Castro, Secretary of the Department of Housing and Urban Development (HUD), that HUD is reopening the public comment period on the formula that determines federal homelessness funding no later than June 21st.
Environment California Research & Policy Center will deploy hundreds of door-knockers this summer as part of a multi-million-dollar effort to educate Americans about the possibility of 100 percent clean, renewable energy.
Global real estate investment company Kennedy Wilson has represented the seller in the approximately $37 million sale of the San Fernando Building in the Old Bank District section of the Historic Core in Downtown Los Angeles. Originally built in 1907 as one of the city’s most coveted office buildings, the approximately 89,500-square-foot building was remodeled in 2000 to accommodate 70 large, loft-style multifamily units in addition to approximately 11,500 square feet of ground floor retail and restaurant space. The seller was Los Angeles-based Gilmore Associates and the buyer is MWest Holdings.
Current renters value homeownership and want to buy a home but many are encountering affordability and financial obstacles that prevent them from buying, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 Renter Survey.”
IRVINE, CALIF. – (RealEstateRama) — International award-winning firm KTGY Architecture + Planning today unveiled the design for Vintage Real Estate’s retailer expansion at SouthBay Pavilion, a 1.2 million-square-foot enclosed shopping center in Carson, California.
CBRE Executive Vice President Philip D. Voorhees and Jimmy Slusher announced today that the National Retail Investment Group – West (NRIG-West) team completed the sale of The Terrace, a two-level, 39,634-square-foot shopping center with structured parking in the city of Newbury Park, Calif. Leased to a complementary mix of 12 restaurant, retail and athletic-focused uses, tenants at The Terrace include: Orangetheory Fitness, Hot Yoga 1000, Road Runner Sports, Bottle and Pint, and others.
Rep. Karen Bass (D-Calif.) made the following statement after this morning’s announcement by the U.S. Department of Housing and Urban Development (HUD) that South Los Angeles won a federal Promise Zone designation in the third round of the competition. The announcement, held at Los Angeles Trade Technical College (LATTC), was made by HUD Deputy Secretary Nani Coloretti was attended by elected officials who represent the area, community partners working in South Los Angeles, and residents - including students from the Coalition for Responsible Community Development’s YouthBuild Charter Academy, one of SLATE-Z’s partner schools
Congresswoman Lucille Roybal-Allard (CA-40) was at Los Angeles Trade Technical College to celebrate the announcement that the U.S. Department of Housing and Urban Development (HUD) has designated South Los Angeles as a Promise Zone. The designation means that the federal government will help South LA leaders implement a comprehensive strategy to create jobs and educational opportunities, reduce violent crime, and strengthen the local economy.
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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