Today on the Southern California Real Estate Report we talk candidly about the year its been for Real Estate and we talk about what we think top stories will be for next year.Bob and Danielle would like to thank all our listers and hope everyone a happy and health holiday season.We will get back to giving you the latest and greatest of Real Estate news starting in January 2022.

Today on the Southern California Real Estate Report we talk about two top Multifamily Real Estate deals.The $97 million dollar acquisition of Latitude33 in Escondido by Ascenda Capital and the California Municipal Finance Authority&The $71.55 million dollar acquisition of 4th & J apartment complex in downtown San Diego by Vesity Investments.Latitude has a total of 198 units the price about $490,000 per unit and will be converted to middle-income housing.4th & J has a total of 168 units plus nearly 1,200 feet of retail space and is on a ground lease.Hirsh. (2021, December 1). Apartments repositioned for middle-income renters following big deal in northern San Diego suburb. CoStar News. Published.Hirsh. (2021b, November 11). Downtown San Diego Apartment property trades amid rising regional demand. CoStar News.

Today on the Southern California Real Estate Report we talk about a new micro apartment building set to open soon in San Diego. The neighborhood these apartments are located is Birdland off the 163 freeway. The building will have 90 units ranging from 300 to 450 square feet. They will be priced between $1,600 and $2,000. We talk about the logistics of turning a office building into apartments and if this area is a good place to have these small units.

Today on the Southern California Real Estate Report we talk about the new trolley line that will connect Mission Valley to the UTC and Sorrento Valley.The new line is said to be more integrated into the surrounding development and because of that and because of transit oriented development, the hope is the community access and usability will help San Diego's car reliant population feel more open to using public transportation.Garrick, D. (2021, November 16). New trolley line set up for success. Union Tribune .

Today on the Southern California Real Estate Report we familiarize ourselves with affordable lodging.A newly approved hotel on Harbor Island by Sunroad Enterprises has an affordable lodging issue.But what is affordable lodging?We look at this project as a jumping off point to be understand a very complex, and might we say, confusing component of hotel development.The article linked below does a better job of explaining what affordable lodging is and now it came about:https://www.sandiegouniontribune.com/business/tourism/sdut-low-cost-lodging-mandated-california-coast-2015aug08-story.htmlThe gist is that everyone has the right to beach access and lodging near the coast and California Coastal Commission is trying to make sure that happens with affordable lodging. Article referenced for this article:https://www.sandiegouniontribune.com/business/story/2021-11-09/port-clears-way-for-construction-of-160m-hotel-on-harbor-island-but-will-it-have

Today on the Southern California Real Estate Report we talk about third quarter multi-family rents in San Diego. Is rent growth slowing down? We talk about what we have seem in the market as multi-family property managers and how that compares to the newest Co-Star Report.

Today on the Southern California Real Estate Report we talk about the dinning structures on San Diego's streets.So called streetside dinning was one of the only good things to come out of the pandemic . It allowed restaurants to survive by giving more or any outside dinning options to their patrons.The new program known as Spaces as Places will give restaurants the choice to keep their outdoor spaces with a fee and with proper safety measures.Learn more about this program and how we think the City of San Diego and restaurants patrons will benefit from keeping outdoor dinning alive on our San Diego streets.

Today on the Southern California Real Estate Report the battle continues for the title of Developers on the Sports Arena Center located in Point Loma. Toll Brothers vs Brookfield, its anyone's guess who the City of San Diego will choose to take on this momentous project.But wait! There is more... the doors are open for someone else to take the title. Will an underdog sweep in and present the winning bid? Affordable Housing will be the make or break component to each developers projects. We will see who can add more affordable units and who's design wins over the City of San Diego.

Today on the Southern California Real Estate Report we get into some new proposed changes to the current ADU (accessory dwelling unit) code. Councilmember Sean Elo-Rivera proposes changes that will make it harder for home owners and Real Estate investors to develop ADUs and rent them out. ADU's have been praised for allowing residential home owners the ability to add an extra unit(s) to their properties in a simple and streamlined way. The idea is to increase housing and help our housing crisis.

Today on the Southern California Real Estate Report we explore the melodrama which has become the City's purchase of 101 Ash Street. Search warrants were executed at Cisterrra Development, Hughes Marino offices and the home of Jason Hughes, who was the broker on the deal of the Ash Street building.Jason Hughes profited almost $10 million dollars from the deal that turned out to be one of the worst Real Estate deals San Diego has ever seen.It has cost the City over $60 million on lease payments for a building that can not be occupied because of asbestos.Asbestos should have been a major factor in the due diligence and purchase of the building in the first place.Furthermore, the allegations are that Jason Hughes was not forthcoming on his involvement as a dual agent between the City of San Diego and Cisterra Development.