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Category Archive: ‘Local Flavor’

Nordstrom Project Approved

caruso

From the UT:

http://www.sandiegouniontribune.com/news/2015/aug/25/plan-for-carlsbad-strawberry-fields-plan-draws/

A costly, well-organized campaign to build a Nordstrom-anchored shopping, entertainment and open-space destination on the shore of a Carlsbad lagoon ended with the City Council’s unanimous approval late Tuesday night.

“This project is compatible with my vision and my values,” said Councilwoman Lorraine Wood before the vote. “A true leader makes a decision based on what they feel is right.”

Several hundred people attended the Carlsbad City Council meeting, where more than 130 residents spoke before the council voted to approve the Caruso Affiliated-backed citizen initiative without changes. The only other choices for the council were to call a special election or take 30 days more to study the plan.

“You have my word that we will surpass your wildest expectations,” Rick Caruso, founder and CEO of the company, told the council as he explained his Agua Hedionda South Shore Specific Plan, also called the 85/15 plan, and presented a short video.

Carlsbad is the third Southern California city this year to see a citizen-led initiative backed by private financing power its way around the municipal development review process. The Carson City Council unanimously approved an initiative in April to allow construction of a stadium to be shared by the San Diego Chargers and Oakland Raiders, and Inglewood approved a similar one in hopes of getting the St. Louis Rams.

Caruso’s initiative has been a polarizing issue for many in Carlsbad. Some speakers Tuesday said it would be wonderful, “a crown jewel for the community” and “an incredible gift,” while others said it would bring much more traffic and pollution, that the publicity campaign was deceptive because it emphasized open space and not the shopping center, and that many people were misled to sign the petition in support of the initiative.

The Los Angeles-based developer and his staff have spent more than three years in Carlsbad, meeting with residents and business owners and hosting bus trips to his shopping center The Grove in Los Angeles. Caruso built a strong following for the project, and many of those residents came out in support of it Tuesday night.

Read full article here:

http://www.sandiegouniontribune.com/news/2015/aug/25/plan-for-carlsbad-strawberry-fields-plan-draws/

Posted by on Aug 26, 2015 in Carlsbad, Jim's Take on the Market, Local Flavor, Local Government | 10 comments

Video on 85/15

2015-08-21 12.09.03

There have been other projects in Carlsbad that faced an uproar.  This time the complaints have ranged from gnatcatchers, to Indian remains, to increased traffic, to competition for mom-and-pop store owners.

Whatever the gripe, those who oppose had better get to a city council member or two by Tuesday, or it’s going to be over.  The city council has been mum about their votes, but they have been cushy with the developer for three years.

Posted by on Aug 22, 2015 in Carlsbad, Jim's Take on the Market, Local Flavor | 7 comments

Caruso and the City Council

 

85-15 plan

The developer of the 85/15 plan (that hopes to bring a Nordstrom-anchored shopping center to Carlsbad) is using a new angle to get project approval – read the VOSD story, click HERE for link.

An excerpt:

One of the country’s largest mall developers, Caruso Affiliated, is pushing through a plan for a shopping center near coastal wetlands in Carlsbad using a novel method that could allow it to bypass many of the state’s environmental protection rules.

A California Supreme Court decision last August ruled that if a project gets enough signatures to put it on the ballot, a city council can approve it without going to voters and without a California Environmental Quality Act review, the state’s landmark environmental law that sets mandates for big projects to disclose their environmental impacts and reduce as many of them as possible. Two proposed football stadiums in Inglewood and Carson used voter initiatives to leapfrog CEQA, and Caruso is trying to make it happen for the first time locally.

Caruso only needed to collect 15 percent of registered Carlsbad voters’ signatures to qualify the measure for a vote – it submitted twice the number of signatures they needed in early July – and now it only needs to lobby the City Council for the three votes necessary to pass the measure in the next Council meeting on Aug. 25.

Read full story HERE.

What will the Carlsbad City Council do?  They’re not saying publically, but opponents think there are conflicts:

Posted by on Aug 11, 2015 in Carlsbad, Jim's Take on the Market, Local Flavor, Local Government | 4 comments

San Diego is Eighth Hottest Market

downtown-san-diego

We finally edged ahead of Detroit. From HW – link HERE

Whether to buy or sell may not be clear following recent housing indicators, which offered contradictory points of view. But Jonathan Smoke, chief economist at realtor.com, says the residential real estate market continued to show strong signs of health in July.

According to realtor.com’s ‘Advance Read of July Trends,’ which draws on residential inventory and demand trends over the first three weeks of the month, the prevailing positive price trend continues with the national median list price increasing to $234,000, up 7% year-over-year and 1% over June. Median days on market increased to 69 days, down 7% year over year, but up 5% month over month.

“It’s typical to see a slackening in the pace of market activity during this time of year, due to back to school and the dog days of summer,” Smoke said. “Increasing median days-on-market suggests the market is finding more of a balance, but demand is still strong. This bodes well for more moderate price appreciation in the months ahead.”

“We have reviewed the data and taking into account less than perfect seasonal adjustment techniques at a very seasonal time for housing and the differing baseline metrics used in the various indicators, we’re comfortable that the market remains strong despite of these recent mixed signals,” stated Smoke.

The 20 hottest markets in the country in July, ranked by number of views per listing on realtor.com and the median age of inventory in each market, follow.

hottest markets

Posted by on Aug 4, 2015 in Jim's Take on the Market, Local Flavor | 4 comments

85/15

85-15-Plan

There has been vocal opposition to the Nordstrom development proposed for Carlsbad, and it’s only right that people have a chance to review the project.  Here is your chance:

A group supporting a proposal to create a 26-acre development near Agua Hedionda Lagoon is inviting Carlsbad residents to learn more.

Open space tours will be held July 18, Aug. 1 and Aug. 15 from 10 a.m. to 1 p.m. so that attendees can learn more about the “85/15 Plan.”

Onsite transportation, food and drinks will be provided.

Tours start at the Carlsbad Strawberry Company parking lot, located at 1050 Cannon Road.  Interested attendees can sign up at  www.openspacetherightway.com/tours/.

85-15 plan

Posted by on Jul 17, 2015 in Carlsbad, Local Flavor, Local Government | 6 comments

California Home Sales in May

The state is cooking! She brings up a good point – it might be hotter if there was more to sell:

California home sales softened in May, but the housing market momentum continued to be solid as the spring home-buying season marked higher year-over-year home sales and prices for the fourth straight month, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

Highlights

  • Home sales rose above the 400,000 mark in May for the second straight month since October 2013 and were the second highest level in nearly two years. Closed escrow sales of existing detached homes in California totaled a seasonally adjusted annualized rate of 423,360 units in May.
  • The May figure was down 1.1 percent from the revised 427,880 homes sold in April, slightly below the long-run April-to-May average sales increase of 0.6%.
  • Home sales were up 8.9 percent from a revised 388,690 in May a year ago though, and the statewide sales figure so far has outpaced last year by more than 5 percent.
  • CKC.A.R. President Chris Kutzkey commented, “The spring home-buying season continues to be strong, especially in areas where insufficient housing supply is less of an issue. With mortgage interest rates edging up recently and an imminent increase in rates by the Federal Reserve, housing affordability concerns will be heightened but may also prompt prospective buyers to feel a sense of urgency to enter the market.”
  • The median price of an existing, single-family detached California home edged up in May from both the previous month and year for the fourth consecutive month. The median home price was up 0.8 percent from $481,880 in April to $485,830 in May, the highest level since November 2007.
  • May’s median price was 4.4 percent higher than the revised $465,470 recorded in May 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.
  • While sales continued to improve from last year at the state level, the number of active listings dipped slightly from the previous year, keeping the supply of homes on the market flat. The May Unsold Inventory Index was unchanged from the 3.5 months reported in April.

http://www.car.org/newsstand/newsreleases/2015releases/may2015sales

Posted by on Jun 19, 2015 in Local Flavor, Market Buzz, Market Conditions, Monthly Sales Count | 0 comments

Upcoming Local Events

Two local events coming up this weekend:

cmf

Saturday, June 20th

The Carlsbad Music Festival kicks of the summer with its third annual free Village Music Walk, featuring dozens of musicians performing over 60 sets during a 6 hour celebration of adventurous music.

An extension of the August Carlsbad Music Festival, the Village Music Walk is an all- ages, free of charge, community event that features a wide array of music performed in outdoor and indoor spaces throughout the historic Village of Carlsbad. The unique performance venues range from public parks and art galleries, to local music stores and even a 19th century chapel.

Drawing annual crowds of over 4000 community members and cultural tourists, the Village Music Walk runs from 4-10pm with 20-minute sets starting every half hour. With multiple performance options to choose from at any time, attendees of the Village Walk are invited to create their own concert journey through the Village.

http://carlsbadmusicfestival.org/events/

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beer

The San Diego International Beer Festival had over 10,000 people last year, and two of their sessions are already sold out this year:

June 19-21. 
2260 Jimmy Durante Blvd., Del Mar 92014. With more than 400 beers from around the world to choose from, beer aficionados will enjoy hard-to-find specialty craft brews alongside favorites from the local brewing scene. Specialty vendors will be selling a variety of accessories and gifts for the beer lover. With a stage featuring everything from home brewing advice to educational demos to food pairings presented by Venissimo Cheese and The Lost Abbey, you won’t want to miss out.

http://sandiegobeerfestival.com/

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The Carlsbad Concerts in the Park series begin on Friday, June 26th:

http://www.carlsbadca.gov/services/depts/arts/events/tgif/schedule.asp

Posted by on Jun 16, 2015 in Jim's Take on the Market, Local Flavor | 0 comments