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Category Archive: ‘La Jolla’

$1B Mid-Coast Trolley Extension

More on the Blue Line trolley extension:

On September 14, 2016, the top transit official in the United States committed $1 billion toward building the San Diego region’s newest trolley line, signing an agreement that will provide 50 percent of the funds to extend the popular transit service for 11-miles from Old Town to UC San Diego and the University City community.

The largest public transit project in the history of the San Diego region, the Mid-Coast Trolley Extension will extend the existing Blue Line, building nine new stops along the north coast of San Diego, including near Mission Beach, Pacific Beach, the VA Medical Center, the UC San Diego campus, and the dense residential and commercial areas along Genesee Avenue.

“The Mid-Coast Trolley will bring fast, reliable transit to the places where it’s most needed, including our largest research university and biggest employment center,” SANDAG Chair and San Diego County Board of Supervisors Chair Ron Roberts said. “At the same time, it is an outstanding example of our ability to leverage the region’s local TransNet dollars to bring in outside money to complete major transportation projects.”

The San Diego region was able to garner the 50 percent match for the Mid-Coast Trolley in large part because it has a dedicated local source of funding that provided the other 50 percent match for the project. Revenues from TransNet, the countywide half-cent sales tax for transportation, are covering half of the $2.1 billion total project cost.

“FTA is proud to partner with San Diego to bring new transit options to this growing region,” said FTA Acting Administrator Carolyn Flowers. “With the population along the Mid-Coast corridor expected to grow nearly 20 percent in the coming decades, this Trolley extension will offer a much-needed alternative to traffic congestion in the years ahead.”

A ceremonial signing of the Full Funding Grant Agreement – dedicating approximately $1 billion to the project over the course of 10 years subject to annual Congressional approval – took place on the campus of UC San Diego, at a location where the future Pepper Canyon Trolley station will be built. As part of the ceremony, Flowers handed Roberts a symbolic $1 billion check. Metropolitan Transit System (MTS) Board Chair Harry Mathis, UC San Diego Vice Chancellor Gary Matthews, and Cynthia Abair, Acting Director of VA San Diego Health Care System, also spoke during the ceremony.

Pre-construction activities for the project – primarily the relocation of underground utilities out of the project alignment – are already underway. Primary construction is expected to begin this October, with service anticipated to start in 2021.

Once the extension is built, transit riders will enjoy a one-seat ride (no transfers) from San Ysidro to University City. Planners estimate that the project will provide more than 20,000 new transit trips every weekday.

The construction of the Mid-Coast project is expected to produce more than 14,000 new local jobs. Even after the construction is over, the Mid-Coast project will have an estimated $116 million of annual economic impact on the region by reducing congestion, reducing parking needs, and increasing access to jobs. The Mid-Coast corridor supports more than 325,000 jobs. The two ends of the route – Downtown San Diego and University City – account for nearly half of that total.

For more information, visit KeepSanDiegoMoving.com/MidCoast

My tour of the area:

The official, professional flyover tour:

Posted by on Sep 9, 2017 in Bubbleinfo TV, Jim's Take on the Market, La Jolla, Local Flavor, Local Government, The Future | 6 comments

Windansea 4-Plex

Two new listings in La Jolla in two days!

The fourplex is 313-319 Nautilus, which is just seven doors up from the world-famous Windansea Beach.  They are similar 1-bedroom units, built in 1951 and recently renovated.  The rents range from $2,000 to $2,195 per month on annual leases.

It’s not even a 3 cap, so investors would have to appreciate the land value and proximity to the beach to make it worth it for them.  But there has been so much development nearby, we think the eventual buyer will tear it down and build new.

List price is $2,350,000, which is the appraised value.

Here is the property manager’s interior tour:

Beautiful remodeled one bedroom cottage steps to beach in best area of Windansea. Designer upgrades include tiled bath and kitchen- new fixtures, cabinets, counters and new stove, fridge, microwave and dishwasher plus all new flooring. This immaculate cottage is bright and sunny and comes with a Garage included. The unit has high open beam ceilings.

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Posted by on Jul 1, 2017 in Jim's Take on the Market, La Jolla, Real Estate Investing, Thinking of Building?, Thinking of Buying?, Why You Should List With Jim | 0 comments

La Jolla Open House

Glad to be back home Saturday in my favorite town of all-time, La Jolla, CA.  Please join me 1-3pm Saturday for open house at 3340 Caminito Vasto!





Zillow is supposed to be auto-uploading every listing with 60 minutes, but here we are eight hours after MLS input and my listing is still not on Zillow.  Hmmm.

Here is the red team’s link instead:

https://www.redfin.com/CA/San-Diego/3340-Caminito-Vasto-92037/home/4883947

You may have seen that they announced today that they are going public, and those who bet the farm will be amply rewarded, not because they provide a better service, but because they offer the sexiest disruptor.

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Posted by on Jun 30, 2017 in Jim's Take on the Market, La Jolla, Listing Agent Practices, North County Coastal, Open House | 2 comments