Today on the Southern California Real Estate Report we talk about the Hines development project that is going to transform the Riverwalk golf club and area around Mission Valley.The development will be a mix of office, a hotel, apartments, retail and open space. Link to development page (https://riverwalksd.com/)Article referenced for this podcast: https://www.sdbj.com/featured/epic-riverwalk-project-kicks-off-in-mission-valley/

Today on the Southern California Real Estate Report we talk about how a office developer Longfellow is partnering with celebrity chief Richard Blais to add a culinary experience to the Sorento Valley office submarket.The restaurant will be named California English and will serve up English style food with a California flare.The hope is that the addition of a modern, sit-down, restaurant will bring life to the office project and make people travel to the Sorento area for the experience of eating there. Article referenced for this podcast: https://www.sandiegouniontribune.com/business/story/2022-09-29/why-celebrity-chef-richard-blais-is-opening-restaurants-in-sorrento-mesa

Today on the Sothern California Real Estate Report we talk about the luxury home market.-The luxury home market sales are down-The change shows a weakening in the market- San Diego had the 4th highest drop in luxury sales from June to August, according to the Union Tribune article Below is the article referenced for this podcast.https://www.sandiegouniontribune.com/metering/dss/amp-subscriptions.html?a=login&rId=amp-frSsmQjy4a7QAYuKn5gHpQ&return=https%3A%2F%2Fcdn.ampproject.org%2Fv0%2Famp-login-done-0.1.html%3Furl%3Dhttps%253A%252F%252Fwww.sandiegouniontribune.com%252Fbusiness%252Fstory%252F2022-09-22%252Fhigh-end-real-estate-slumps-san-diego-luxury-home-sales-plummet%253F_amp%253Dtrue (https://www.sandiegouniontribune.com/metering/dss/amp-subscriptions.html?a=login&rId=amp-frSsmQjy4a7QAYuKn5gHpQ&return=https%3A%2F%2Fcdn.ampproject.org%2Fv0%2Famp-login-done-0.1.html%3Furl%3Dhttps%253A%252F%252Fwww.sandiegouniontribune.com%252Fbusiness%252Fstory%252F2022-09-22%252Fhigh-end-real-estate-slumps-san-diego-luxury-home-sales-plummet%253F_amp%253Dtrue)

Today on the Southern California Real Estate Report we talk about the Sports Arena redevelopment project. After many months and much deliberation the project know as Midway Rising will redevelop the Sports Arena. The development offers a significant amount of affordable housing units, more than the other developers, which was why the City Council liked the plans over the others. The project will also offer a 200 room hotel, market rate units, open space and a 16,000 seat arena. For more information check out the link below: https://www.californiaconstructionnews.com/2022/09/12/san-diego-expected-to-approve-midway-rising-to-develop-sports-arena-site/

Today on the Sothern California Real Estate Report we talk about parking.How important is it that parking is offered at properties?Will lack of parking drive, pun intended, people to take more public transportation?Will developers build more housing units if they don't need to fulfill a parking requirement?We talk about this questions and more in this weeks podcast.Article reference for this podcast:https://www.sandiegouniontribune.com/columnists/story/2022-09-02/column-parking-no-longer-will-be-required-for-homes-businesses-in-much-of-california

Today on the Southern California Real Estate Report we talk about the new apartment building, called The Lindley, that is currently being developed by Toll Brothers and PGIM Partner.The project is a 37-story, 422-unit luxury apartment complexDesigned by Joseph Wong Design AssociatesIt will be LEED certified Gold article referenced:https://www.multihousingnews.com/toll-brothers-pgim-partner-on-san-diego-development/

Today on the Southern California Real Estate Report we talk about the rising interest rate environment and how home prices are declining.The housing market is still heated, but the air is being let out of the balloon a bit and we think its a good thing.Homes are staying on the market longer, price reductions are happening and people are less willing to overpay for housing.Todays article that was referenced is:https://www.lajollalight.com/news/story/2021-09-22/san-diego-county-median-home-price-drops-for-second-month-in-a-row-to-725-000

Today on the Southern California Real Estate Report we look at the neighborhood of Mira Mesa. Mira Mesa hasn’t always had the best reputation… in fact in the 1970’s it was criticized for its urban sprawl.Today Mira Mesa is getting a planning facelift.The City of San Diego is hoping that updating the city plan will take Mira Mesa from a suburban neighborhood to a more urban one. Article referenced: https://www.sandiegouniontribune.com/columnists/story/2022-08-10/column-mira-mesas-planned-makeover-rejects-communitys-history-thankfully

Today on the Southern California Real Estate Report we talk about two recreation style project happening in North County San Diego.One is a surf lagoon and resort the other is a mountain biking parking that is part of Veterans Memorial Park.The two projects offer more attractions to San Diego and more outdoor fun.Articles referenced are the following:Oceanside approves artificial surf lagoon resort for old drive-in theater property - The San Diego Union-Tribune (sandiegouniontribune.com) (https://www.sandiegouniontribune.com/communities/north-county/oceanside/story/2022-07-26/surfing-lagoon-project-goes-to-oceanside-planning-commission)https://www.sandiegouniontribune.com/communities/north-county/carlsbad/story/2021-02-28/bike-track-approved-with-veterans-memorial-park-plan

Today on the Southern California Real Estate Report we talk about the new office campus that Apple is moving into in Rancho Bernardo.Apple is already in this sub market and believes that many of the high level talent the will work for the company will also be interest in living in the area. Apple has been in San Diego for over 10 years, however the move to this campus office space is showing a real commitment to the San Diego area.Below is the article we referenced for this podcast https://www.sandiegouniontribune.com/business/story/2022-07-26/apple-expands-san-diego-footprint-with-purchase-of-67-acre-campus-for-445m (https://www.sandiegouniontribune.com/business/story/2022-07-26/apple-expands-san-diego-footprint-with-purchase-of-67-acre-campus-for-445m)