Wednesday, March 28, 2007
Friday, March 23, 2007
News
Urban Land (Feb): 20-somethings changing China; workforce housing case studies; megaresorts; resorts; Atlantic City, NJ; golf courses as features of redevelopment; Olympic infrastructure; HI sustainable community development; U.S.-Mexico border as retail market; TOD -- Union Station, Denver, CO; FL resorts and development; regional spotlight on the Gulf Coast
San Diego Business Journal (3/12): condo-office tower with views into new stadium (Petco Park)
Nevada (Apr): Trump's Strip condo tower
New Orleans City Business (3/12): film industry problems over labor shortage in N.O.; NCAA basketball tournie in N.O.;
Los Angeles Business Journal (3/19): Hollywood parcel (corner of Sunset and Western) for sale
New Urban News (Mar): TOD Rockville Town Center, MD; smart growth market; compact growth; Ventura, CA; Texas A&M anchor for neighborhood development
M&C (Mar): auxiliary facilities (ergonomic conference rooms, conference-specific dining facilities, etc.) controlling conference center market; case studies of downtown revitalization (including L.A., Detroit, Albuquerque, N.O., and Kansas City and St. Louis, MO); destination guides on: Las Vegas and the Mid-Atlantic
World Waterpark (Mar): Waterville (Russia); Six Flags Great Escape (NY); Aqualand (Canary Islands); Huck's Harbor (IO)
Planning (Mar): feature on Montgomery County, MD; eminent domain and Kelo; TIF; smart growth; unified plan for N.O.
San Diego Business Journal (3/12): condo-office tower with views into new stadium (Petco Park)
Nevada (Apr): Trump's Strip condo tower
New Orleans City Business (3/12): film industry problems over labor shortage in N.O.; NCAA basketball tournie in N.O.;
Los Angeles Business Journal (3/19): Hollywood parcel (corner of Sunset and Western) for sale
New Urban News (Mar): TOD Rockville Town Center, MD; smart growth market; compact growth; Ventura, CA; Texas A&M anchor for neighborhood development
M&C (Mar): auxiliary facilities (ergonomic conference rooms, conference-specific dining facilities, etc.) controlling conference center market; case studies of downtown revitalization (including L.A., Detroit, Albuquerque, N.O., and Kansas City and St. Louis, MO); destination guides on: Las Vegas and the Mid-Atlantic
World Waterpark (Mar): Waterville (Russia); Six Flags Great Escape (NY); Aqualand (Canary Islands); Huck's Harbor (IO)
Planning (Mar): feature on Montgomery County, MD; eminent domain and Kelo; TIF; smart growth; unified plan for N.O.
Wednesday, March 21, 2007
New Books
Some new titles are in and will be online soon--
Tourism in National Parks:
Growth and Convergence in Metro America; Paths and Pitfalls -- older retail districts:
Planning reform; Tomorrow's cities:
Adventure tourism:
Making places:
Main street developments:
Parks:
Tourism in National Parks:
Growth and Convergence in Metro America; Paths and Pitfalls -- older retail districts:
Planning reform; Tomorrow's cities:
Adventure tourism:
Making places:
Main street developments:
Parks:
Indian gaming
From Reznet News 3/21/2007
Gaming Games
Associated Press story by Felicia Fonseca
"ALBUQUERQUE, N.M. — Navajo Nation Council delegates are threatening to amend tribal laws to set up another way to establish gaming if the tribe's executive branch fails to deliver a comprehensive gaming plan to the council.
Forty-eight of the council's 88 delegates signed a letter Thursday and delivered it to President Joe Shirley Jr. It gives the president two months to present a plan and a timeline, which delegates say they've been waiting years for." ...
"The council met in a special session Thursday in Window Rock, Ariz., to consider overriding two presidential vetoes that kept the To'hajiilee and Shiprock chapters in New Mexico from establishing local gaming boards. The measures failed 46-35 and 43-39, respectively." ...
"The tribal council voted in January to approve gaming boards for the Shiprock and To'hajiilee chapters, a day after it overrode a presidential veto aimed at stopping the Tse' Daa' Kaan Chapter in northwestern New Mexico from developing its own gaming board. The Navajo Nation Gaming Ordinance of 2001 allows individual chapter houses to pursue gaming, but that law was approved before the tribe signed compacts with Arizona and New Mexico.
The ordinance also makes it impossible for multiple gaming enterprises to obtain the licenses needed to operate, Navajo Attorney General Louis Denetsosie and chief legislative counsel Raymond Etcitty said in a joint opinion released Thursday.
They warned delegates about approving any more local gaming enterprises because they said those violate gaming compacts with Arizona and New Mexico, a point Shirley repeatedly has emphasized.
Shirley also has stressed that local gaming boards would hurt the tribe's ability to maximize revenue." ....
"The tribal council approved the central Navajo Nation Gaming Enterprise last September to oversee and manage any casinos that might be built on Navajo land in the future. The appointment of the members and a chief executive officer are pending background checks, which Shirley said could be complete this month." ....
Gaming Games
Catawbas Lose Court Ruling
By The Associated Press
"COLUMBIA, S.C. — The Catawba Indian Nation's push to expand its gambling business took a hit Monday when the South Carolina Supreme Court ruled that a state ban on video poker also applies to its only federally recognized tribe.
The Catawbas argued their 1993 land deal with the state allowed them to use the video poker machines, which were outlawed statewide in 2000, on their reservation.
The state contends that the land deal means the tribe's reservation falls under state, not federal, gambling laws. State Attorney General Henry McMaster, who appealed a lower court's decision in favor of the tribe, said the higher court made "a sound decision." ....
"The tribe has said it doesn't necessarily want to put video gambling machines on its reservation in northwest South Carolina. But the Catawbas had hoped to use a favorable court ruling as a bargaining chip to build a high-stakes bingo parlor south of Columbia along Interstate 95.
The Catawbas say a new bingo parlor is critical to their future. The tribe's York County bingo hall began losing money after the state lottery started in 2002, they say. The Catawbas were forced to shut down the operation and have since sold the hall and the surrounding property near the North Carolina line." ...
for complete articles see: http://www.reznetnews.org/news/070320_navajo_gaming/
Gaming Games
Associated Press story by Felicia Fonseca
"ALBUQUERQUE, N.M. — Navajo Nation Council delegates are threatening to amend tribal laws to set up another way to establish gaming if the tribe's executive branch fails to deliver a comprehensive gaming plan to the council.
Forty-eight of the council's 88 delegates signed a letter Thursday and delivered it to President Joe Shirley Jr. It gives the president two months to present a plan and a timeline, which delegates say they've been waiting years for." ...
"The council met in a special session Thursday in Window Rock, Ariz., to consider overriding two presidential vetoes that kept the To'hajiilee and Shiprock chapters in New Mexico from establishing local gaming boards. The measures failed 46-35 and 43-39, respectively." ...
"The tribal council voted in January to approve gaming boards for the Shiprock and To'hajiilee chapters, a day after it overrode a presidential veto aimed at stopping the Tse' Daa' Kaan Chapter in northwestern New Mexico from developing its own gaming board. The Navajo Nation Gaming Ordinance of 2001 allows individual chapter houses to pursue gaming, but that law was approved before the tribe signed compacts with Arizona and New Mexico.
The ordinance also makes it impossible for multiple gaming enterprises to obtain the licenses needed to operate, Navajo Attorney General Louis Denetsosie and chief legislative counsel Raymond Etcitty said in a joint opinion released Thursday.
They warned delegates about approving any more local gaming enterprises because they said those violate gaming compacts with Arizona and New Mexico, a point Shirley repeatedly has emphasized.
Shirley also has stressed that local gaming boards would hurt the tribe's ability to maximize revenue." ....
"The tribal council approved the central Navajo Nation Gaming Enterprise last September to oversee and manage any casinos that might be built on Navajo land in the future. The appointment of the members and a chief executive officer are pending background checks, which Shirley said could be complete this month." ....
Gaming Games
Catawbas Lose Court Ruling
By The Associated Press
"COLUMBIA, S.C. — The Catawba Indian Nation's push to expand its gambling business took a hit Monday when the South Carolina Supreme Court ruled that a state ban on video poker also applies to its only federally recognized tribe.
The Catawbas argued their 1993 land deal with the state allowed them to use the video poker machines, which were outlawed statewide in 2000, on their reservation.
The state contends that the land deal means the tribe's reservation falls under state, not federal, gambling laws. State Attorney General Henry McMaster, who appealed a lower court's decision in favor of the tribe, said the higher court made "a sound decision." ....
"The tribe has said it doesn't necessarily want to put video gambling machines on its reservation in northwest South Carolina. But the Catawbas had hoped to use a favorable court ruling as a bargaining chip to build a high-stakes bingo parlor south of Columbia along Interstate 95.
The Catawbas say a new bingo parlor is critical to their future. The tribe's York County bingo hall began losing money after the state lottery started in 2002, they say. The Catawbas were forced to shut down the operation and have since sold the hall and the surrounding property near the North Carolina line." ...
for complete articles see: http://www.reznetnews.org/news/070320_navajo_gaming/
Grand Canyon Skywalk pre-opening
From the Arizona Republic/Reznet News 3/21/2007
Leap of Faith
AP Photo/The Arizona Republic, Rob Schumacher
Hualapai tribal members make the ceremonial first walk on Grand Canyon Skywalk.
Associated story by Chris Kahn
"HUALAPAI INDIAN RESERVATION, Ariz. — Walking gingerly across the translucent surface, visitors hear the glass layers creak. Far below, directly underfoot, they see the Colorado River as a pea-green ribbon." ...
"The Hualapai Indian tribe invited Aldrin, fellow former astronaut John Herrington and others to the unveiling of the horseshoe-shaped deck Tuesday in advance of a public opening planned for March 28."....
"The massive deck is anchored deep into a limestone cliff. As people walk across it, the glass layers creak and the deck wobbles almost imperceptibly. When the wind blows, only the most daring visitors resist grabbing the steel rail to steady their knees." ....
"Tour packages with deck access will range in price from $49.95 to $199. The deck, which juts 70 feet beyond the canyon's edge, will accommodate up to 120 guests at a time and offer a bone-chilling vantage point more than twice as high as the world's tallest buildings.
Architect Mark Johnson said the Skywalk can support the weight of a few hundred people and will withstand wind up to 100 mph. The observation deck has a 3-inch-thick glass bottom and has been equipped with shock absorbers to keep it from bouncing like a diving board as people walk on it.
Tribal leaders are betting people will flock here, braving the rugged terrain — including a twisty ride through unpaved roads — to walk its transparent surface. The tribe expects Skywalk to become the centerpiece of a budding tourism industry that includes helicopter tours, river rafting, a cowboy town and a museum of Native American replica homes.
Robert Bravo Jr., operations manager of the Hualapai tourist attractions called Grand Canyon West, said he hopes the Skywalk will double tourist traffic to the reservation to about 600,000 visitors this year and 1 million tourists later." ....
"Construction crews spent two years building the walkway. They drilled steel anchors 46 feet into the limestone rim to hold the deck in place. Earlier this month, they welded the Skywalk to the anchors after pushing it past the edge using four tractor trailers and an elaborate system of pulleys.
The Hualapai (pronounced WALL-uh-pie) allowed Las Vegas developer David Jin to build the Skywalk. Jin fronted the money to build the $30 million structure and will give it to the Hualapai in exchange for a share of the profits, the tribe said.
"The terms are confidential, but David will profit for the next 25 years from the Skywalk," said Steve Beattie, chief financial officer of the Grand Canyon Resort Corp., which oversees the tribe's tourist businesses." ...
For full article see: http://www.reznetnews.org/news/070321_skywalk/
Leap of Faith
AP Photo/The Arizona Republic, Rob Schumacher
Hualapai tribal members make the ceremonial first walk on Grand Canyon Skywalk.
Associated story by Chris Kahn
"HUALAPAI INDIAN RESERVATION, Ariz. — Walking gingerly across the translucent surface, visitors hear the glass layers creak. Far below, directly underfoot, they see the Colorado River as a pea-green ribbon." ...
"The Hualapai Indian tribe invited Aldrin, fellow former astronaut John Herrington and others to the unveiling of the horseshoe-shaped deck Tuesday in advance of a public opening planned for March 28."....
"The massive deck is anchored deep into a limestone cliff. As people walk across it, the glass layers creak and the deck wobbles almost imperceptibly. When the wind blows, only the most daring visitors resist grabbing the steel rail to steady their knees." ....
"Tour packages with deck access will range in price from $49.95 to $199. The deck, which juts 70 feet beyond the canyon's edge, will accommodate up to 120 guests at a time and offer a bone-chilling vantage point more than twice as high as the world's tallest buildings.
Architect Mark Johnson said the Skywalk can support the weight of a few hundred people and will withstand wind up to 100 mph. The observation deck has a 3-inch-thick glass bottom and has been equipped with shock absorbers to keep it from bouncing like a diving board as people walk on it.
Tribal leaders are betting people will flock here, braving the rugged terrain — including a twisty ride through unpaved roads — to walk its transparent surface. The tribe expects Skywalk to become the centerpiece of a budding tourism industry that includes helicopter tours, river rafting, a cowboy town and a museum of Native American replica homes.
Robert Bravo Jr., operations manager of the Hualapai tourist attractions called Grand Canyon West, said he hopes the Skywalk will double tourist traffic to the reservation to about 600,000 visitors this year and 1 million tourists later." ....
"Construction crews spent two years building the walkway. They drilled steel anchors 46 feet into the limestone rim to hold the deck in place. Earlier this month, they welded the Skywalk to the anchors after pushing it past the edge using four tractor trailers and an elaborate system of pulleys.
The Hualapai (pronounced WALL-uh-pie) allowed Las Vegas developer David Jin to build the Skywalk. Jin fronted the money to build the $30 million structure and will give it to the Hualapai in exchange for a share of the profits, the tribe said.
"The terms are confidential, but David will profit for the next 25 years from the Skywalk," said Steve Beattie, chief financial officer of the Grand Canyon Resort Corp., which oversees the tribe's tourist businesses." ...
For full article see: http://www.reznetnews.org/news/070321_skywalk/
Tuesday, March 20, 2007
Monday, March 19, 2007
ERA in Idaho news
Jack Haeseler draws your attention to ERA (spelled incorrectly) in the press.....
from the Idaho Business Review 3/19/2007
Nampa unveils big plan for downtown redevelopment
Posted: Monday, March 19, 2007
"It is, to say the least, an ambitious set of goals. The City of Nampa has formally announced its plans for downtown redevelopment.
Many of the projects already were publicly discussed as part of an urban-renewal plan Nampa finalized in December. But this is the first time the scope of the project has been made public." ...
"The phased plan for downtown Nampa, according to a statement from the city, calls for a 90,000-square-foot urban park with ice rink and concert area, a new library of 80,000 square feet, a public-safety / police building of 60,000 square feet, a new City Hall of 120,000 square feet, and an entertainment district. The entertainment district would consist of restaurants, a cinema, retail and office space, lodging, and owner-occupied and rental housing.
Nampa officials said the plan aims to create a new Nampa city center where people can work at well-paying jobs, live and recreate." ...
"In April and May, the city plans to circulate requests for qualifications from interested developers, according to the city-issued statement. After the requests are reviewed and scored, the city plans to develop a short list. In August, the city aims to release a request for proposals (RFP) and work toward selecting a developer for a 2008 construction start." ...
"The first phase of construction, from 2008 to 2010, encompasses $111,142,250 of development – including the library and police buildings, the park and $63 million in private development. The private development would include residential and commercial space, and four public parking structures in the downtown core.
The second phase, 2010-12, calls for $121,113, 250 in development, according to the city. It encompasses a new city hall and urban cinema project, two more parking structures, and $81 million in residential and commercial space.
Nampa officials said in the statement that private development dollars will help pay for the urban park and city hall projects.
More than $190,024,500 of private development would be reserved for future phases, and more than $422,280,000 of development would occur downtown between next year and 2018, the city said.
A steering committee of Nampa community members began planning a revitalized downtown in 2002, and adopted a Central Nampa Revitalization Blueprint in 2004. The Central Nampa Development Commission last year finalized the plan with help from consultants Steinback Public Private Real Estate, Economic Research Associates and the Carter Burgess urban design and planning firm.
Vallivue School District in late January sued Nampa over its urban renewal district and plan. Property taxes generated after improvements within an urban renewal district are usually collected by the district rather than by public agencies, such as school district." ....
For the complete story see: http://www.idahobusiness.net/archive.htm/2007/03/19/Nampa-unveils-big-plan-for-downtown-redevelopment
from the Idaho Business Review 3/19/2007
Nampa unveils big plan for downtown redevelopment
Posted: Monday, March 19, 2007
"It is, to say the least, an ambitious set of goals. The City of Nampa has formally announced its plans for downtown redevelopment.
Many of the projects already were publicly discussed as part of an urban-renewal plan Nampa finalized in December. But this is the first time the scope of the project has been made public." ...
"The phased plan for downtown Nampa, according to a statement from the city, calls for a 90,000-square-foot urban park with ice rink and concert area, a new library of 80,000 square feet, a public-safety / police building of 60,000 square feet, a new City Hall of 120,000 square feet, and an entertainment district. The entertainment district would consist of restaurants, a cinema, retail and office space, lodging, and owner-occupied and rental housing.
Nampa officials said the plan aims to create a new Nampa city center where people can work at well-paying jobs, live and recreate." ...
"In April and May, the city plans to circulate requests for qualifications from interested developers, according to the city-issued statement. After the requests are reviewed and scored, the city plans to develop a short list. In August, the city aims to release a request for proposals (RFP) and work toward selecting a developer for a 2008 construction start." ...
"The first phase of construction, from 2008 to 2010, encompasses $111,142,250 of development – including the library and police buildings, the park and $63 million in private development. The private development would include residential and commercial space, and four public parking structures in the downtown core.
The second phase, 2010-12, calls for $121,113, 250 in development, according to the city. It encompasses a new city hall and urban cinema project, two more parking structures, and $81 million in residential and commercial space.
Nampa officials said in the statement that private development dollars will help pay for the urban park and city hall projects.
More than $190,024,500 of private development would be reserved for future phases, and more than $422,280,000 of development would occur downtown between next year and 2018, the city said.
A steering committee of Nampa community members began planning a revitalized downtown in 2002, and adopted a Central Nampa Revitalization Blueprint in 2004. The Central Nampa Development Commission last year finalized the plan with help from consultants Steinback Public Private Real Estate, Economic Research Associates and the Carter Burgess urban design and planning firm.
Vallivue School District in late January sued Nampa over its urban renewal district and plan. Property taxes generated after improvements within an urban renewal district are usually collected by the district rather than by public agencies, such as school district." ....
For the complete story see: http://www.idahobusiness.net/archive.htm/2007/03/19/Nampa-unveils-big-plan-for-downtown-redevelopment
Saturday, March 17, 2007
News O'the World
Fortune (3/19): Tunica, MS gaming and redevelopment; Abu Dhabi the richest city in the world
Shopping Center Business (Mar): Spokane, WA mixed-use retail redevelopment; college-town retail and mixed-use developments
American Indian Report (Mar): tribal touirsm industry
The Economist (3/17): New Orleans recovery; Olympic costs in London
National Real Estate Investor (Mar): Baton Rouge mixed-use development surge; luxury senior housing; Asian REITs; city feature on Cleveland, OH
Business Week (3/26): Indian gaming expansion and its detractors
Kiplinger CA (3/7): Ontario, CA's new arena
Tourist Attractions and Parks (Feb/Mar): large park report on live shows; museum as a host of "edutainment;" Noah's Ark (WI Dells); food service -- aquariums and theme parks
CP&DR (Mar): TOD Union City; Dixon Downs horse race track going to voters in April
Retail Traffic (Mar): Simon buying Mills; brief bio of Chicago's The Metropolis development; special feature collection on mixed-use; area features on NC and SC; malls and teen curfews
IGWB (Mar): Machester regional casino expecting huge returns; table games drive Macau gaming market; study commissioned by CA shows 1:33 Californians have gambling problem
Street and Smith's Sports Business Journal (3/5): MLB ticket sales may set another record; Neon Garage NASCAR speedway attraction opening in Las Vegas; WUSA (US women's pro soccer league) is reborn with 8 teams; NJ Devils close to closing a $120 million loan deal for its arena schelduled to open later in 2007
New Orleans City Business (3/5): LA ports booming; airport incentives
Orange County Business Journal (3/5): twin condo towers proposed for One Broadway Plaza
Orange County Business Journal (3/12): condos and retail booming in Garden Grove; first Santa Ana office-condo conversion planned; 3-base (Barksdale, LA; Langley, VA; and Bolling, DC) deal for Air Force housing
Los Angeles Business Journal (3/12): Disney cruises; San Pedro push for waterfront revitalization; L.A. Co. Museum of Art upgrading and renewing its digs
California Real Estate Journal (3/12): advertising special feature on Ontario, CA especially on their new arena; San Diego selling city-owned parcels; makeover of the Beverly Connection mall planned; L.A. Live feature; Ontario, CA winery becoming mixed-use development; Hollywood's Fox Theater sold
Shopping Center Business (Mar): Spokane, WA mixed-use retail redevelopment; college-town retail and mixed-use developments
American Indian Report (Mar): tribal touirsm industry
The Economist (3/17): New Orleans recovery; Olympic costs in London
National Real Estate Investor (Mar): Baton Rouge mixed-use development surge; luxury senior housing; Asian REITs; city feature on Cleveland, OH
Business Week (3/26): Indian gaming expansion and its detractors
Kiplinger CA (3/7): Ontario, CA's new arena
Tourist Attractions and Parks (Feb/Mar): large park report on live shows; museum as a host of "edutainment;" Noah's Ark (WI Dells); food service -- aquariums and theme parks
CP&DR (Mar): TOD Union City; Dixon Downs horse race track going to voters in April
Retail Traffic (Mar): Simon buying Mills; brief bio of Chicago's The Metropolis development; special feature collection on mixed-use; area features on NC and SC; malls and teen curfews
IGWB (Mar): Machester regional casino expecting huge returns; table games drive Macau gaming market; study commissioned by CA shows 1:33 Californians have gambling problem
Street and Smith's Sports Business Journal (3/5): MLB ticket sales may set another record; Neon Garage NASCAR speedway attraction opening in Las Vegas; WUSA (US women's pro soccer league) is reborn with 8 teams; NJ Devils close to closing a $120 million loan deal for its arena schelduled to open later in 2007
New Orleans City Business (3/5): LA ports booming; airport incentives
Orange County Business Journal (3/5): twin condo towers proposed for One Broadway Plaza
Orange County Business Journal (3/12): condos and retail booming in Garden Grove; first Santa Ana office-condo conversion planned; 3-base (Barksdale, LA; Langley, VA; and Bolling, DC) deal for Air Force housing
Los Angeles Business Journal (3/12): Disney cruises; San Pedro push for waterfront revitalization; L.A. Co. Museum of Art upgrading and renewing its digs
California Real Estate Journal (3/12): advertising special feature on Ontario, CA especially on their new arena; San Diego selling city-owned parcels; makeover of the Beverly Connection mall planned; L.A. Live feature; Ontario, CA winery becoming mixed-use development; Hollywood's Fox Theater sold
Wednesday, March 14, 2007
Scottish tourism sees record numbers
from the Scotsman enews 3/14/2007
Historic day as sites pull in 3 million visitors
TIM CORNWELL ARTS CORRESPONDENT
".... paying visitor numbers at Historic Scotland's properties have risen across the board in the year 2006-7, the heritage agency said yesterday, breaking the three-million mark for the first time - a 6 per cent rise on the previous year.
Programmes such as the BBC's Restoration series may have helped put UK residents on the trail of Scotland's castles, abbeys and standing stones. But the increase may also reflect Historic Scotland's award-winning, two-week TV campaign last year to promote its annual "free weekend" and get visitors to try its properties for free. It was the first time it has run television adverts.
The growing number of Asian and eastern European visitors to Scotland are also affecting the figures, it is thought. They are now outnumbering the traditional American influx.
Last July, ten per cent of visitors to Edinburgh Castle were Asian, with 39 per cent from Europe, compared to 20 per cent from North America." ....
for complete story see: http://news.scotsman.com/scotland.cfm?id=398052007
Historic day as sites pull in 3 million visitors
TIM CORNWELL ARTS CORRESPONDENT
".... paying visitor numbers at Historic Scotland's properties have risen across the board in the year 2006-7, the heritage agency said yesterday, breaking the three-million mark for the first time - a 6 per cent rise on the previous year.
Programmes such as the BBC's Restoration series may have helped put UK residents on the trail of Scotland's castles, abbeys and standing stones. But the increase may also reflect Historic Scotland's award-winning, two-week TV campaign last year to promote its annual "free weekend" and get visitors to try its properties for free. It was the first time it has run television adverts.
The growing number of Asian and eastern European visitors to Scotland are also affecting the figures, it is thought. They are now outnumbering the traditional American influx.
Last July, ten per cent of visitors to Edinburgh Castle were Asian, with 39 per cent from Europe, compared to 20 per cent from North America." ....
for complete story see: http://news.scotsman.com/scotland.cfm?id=398052007
Penguins' new arena deal
From GlobeSt.com's enews 3/14/2007
Penguins Sign 30-Year, $290M Arena Deal
By Marita Thomas
"PITTSBURGH-Long-sought plans to keep the Pittsburgh Penguins hockey team here after the team’s lease at Mellon Arena expires this June have reached fruition. The deal calls for construction of a new arena along Centre and Fifth avenues, across from the existing one, at an estimated cost of $290 million. It is expected to open in time for the 2009-2010 season.
....
The Sports & Exhibition Authority, a joint Pittsburgh and Allegheny County agency, will own the arena, and the Penguins will operate it under a 29.5-year lease that begins when it opens. The team will pay SEA $4.2 million a year for 30 years, which includes $600,000 from parking lot revenues. It will seek to offset costs by obtaining naming rights.
.....
Don Barden, the Detroit owner of Majestic Star Casino LLC, which has obtained Pittsburgh’s sole gaming license, has agreed to pay $7.5 million a year. Another $7.5 million a year will come from the State Gaming Tourism and Economic Development Fund. " ...
for the complete story see: http://www.globest.com/news/862_862/pittsburgh/158862-1.html
Penguins Sign 30-Year, $290M Arena Deal
By Marita Thomas
"PITTSBURGH-Long-sought plans to keep the Pittsburgh Penguins hockey team here after the team’s lease at Mellon Arena expires this June have reached fruition. The deal calls for construction of a new arena along Centre and Fifth avenues, across from the existing one, at an estimated cost of $290 million. It is expected to open in time for the 2009-2010 season.
....
The Sports & Exhibition Authority, a joint Pittsburgh and Allegheny County agency, will own the arena, and the Penguins will operate it under a 29.5-year lease that begins when it opens. The team will pay SEA $4.2 million a year for 30 years, which includes $600,000 from parking lot revenues. It will seek to offset costs by obtaining naming rights.
.....
Don Barden, the Detroit owner of Majestic Star Casino LLC, which has obtained Pittsburgh’s sole gaming license, has agreed to pay $7.5 million a year. Another $7.5 million a year will come from the State Gaming Tourism and Economic Development Fund. " ...
for the complete story see: http://www.globest.com/news/862_862/pittsburgh/158862-1.html
Sunday, March 11, 2007
Mohegan Sun area property values soar
From Fort Wayne News-Sentinel 3/11/2007:
Property values near Mohegan Sun take off
DAVID FALCHEK
Scranton Times-Tribune
"WILKES-BARRE, Pa. - Don't blink when driving on Route 315 between Pittston and Plains Township. You might miss something.
In drawing gamblers since opening last year, Mohegan Sun at Pocono Downs has sucked traffic from exits off Interstate 81 through exits at Pittston and Plains townships and jump-started development and redevelopment on the state road.
Asking prices on some properties near the casino are close to $1 million per acre, making it some of the most expensive real estate in Northeastern Pennsylvania. As the weather warms and Mohegan continues in earnest on its $150 million slots hall and commercial complex, landowners and landlords in the area expect the nibbles they've been seeing to turn into bites.
In time, some businesses that now appear out of place, such as equipment dealers and an auto salvage yard, will likely be replaced.
"I keep telling my kids to look around here," said Charles Adonizio III, a real estate agent and property owner on the road.
"In two years, this will all look entirely different."
But the development of the strip is limited. A swath of the east side of Route 315 runs so close to Interstate 81 that it leaves no space for development. Other sections are burdened by rock outcroppings or owned by unlikely sellers, such as the Oblates of St. Joseph, a major landowner. Parts of the strip have few or even no services, lacking natural gas, sewer or storm drainage. Nevertheless, the speculation has begun.
In commercial real estate, implicit in the well-worn mantra "location, location, location," is "traffic, traffic, traffic." Longtime business owners on the road saw an immediate impact once the slots started humming and cars started passing.
According to the state Department of Transportation, average daily traffic on the route near Jumper Road was about 7,500 cars per day in 2006, the year Mohegan Sun purchased the Pocono Downs. That's expected to increase as Mohegan Sun expands, although PennDOT has no current figure, and the Mohegan Sun is working on a traffic study.
Property values, or at least asking prices, have soared." .....
For complete story see: http://www.fortwayne.com/mld/newssentinel/16879885.htm
Property values near Mohegan Sun take off
DAVID FALCHEK
Scranton Times-Tribune
"WILKES-BARRE, Pa. - Don't blink when driving on Route 315 between Pittston and Plains Township. You might miss something.
In drawing gamblers since opening last year, Mohegan Sun at Pocono Downs has sucked traffic from exits off Interstate 81 through exits at Pittston and Plains townships and jump-started development and redevelopment on the state road.
Asking prices on some properties near the casino are close to $1 million per acre, making it some of the most expensive real estate in Northeastern Pennsylvania. As the weather warms and Mohegan continues in earnest on its $150 million slots hall and commercial complex, landowners and landlords in the area expect the nibbles they've been seeing to turn into bites.
In time, some businesses that now appear out of place, such as equipment dealers and an auto salvage yard, will likely be replaced.
"I keep telling my kids to look around here," said Charles Adonizio III, a real estate agent and property owner on the road.
"In two years, this will all look entirely different."
But the development of the strip is limited. A swath of the east side of Route 315 runs so close to Interstate 81 that it leaves no space for development. Other sections are burdened by rock outcroppings or owned by unlikely sellers, such as the Oblates of St. Joseph, a major landowner. Parts of the strip have few or even no services, lacking natural gas, sewer or storm drainage. Nevertheless, the speculation has begun.
In commercial real estate, implicit in the well-worn mantra "location, location, location," is "traffic, traffic, traffic." Longtime business owners on the road saw an immediate impact once the slots started humming and cars started passing.
According to the state Department of Transportation, average daily traffic on the route near Jumper Road was about 7,500 cars per day in 2006, the year Mohegan Sun purchased the Pocono Downs. That's expected to increase as Mohegan Sun expands, although PennDOT has no current figure, and the Mohegan Sun is working on a traffic study.
Property values, or at least asking prices, have soared." .....
For complete story see: http://www.fortwayne.com/mld/newssentinel/16879885.htm
Grand Canyon Skywalk
From USA Today 3/8/2007:
Another wonder for Grand Canyon?
By Jayne Clark, USA TODAY
"GRAND CANYON WEST, Ariz. — An elderly spiritual leader shook a gourd rattle and sang prayers as dozens of news crews, some from as far away as Korea, jockeyed for position behind a cordon of yellow caution tape Wednesday. They were there to watch a 2-million-pound deck being inched into position off a limestone cliff 4,000 feet above the Grand Canyon floor." ...
For the full article see: http://www.usatoday.com/travel/news/2007-03-08-grand-canyon-skywalk_N.htm?csp=34
Another wonder for Grand Canyon?
By Jayne Clark, USA TODAY
"GRAND CANYON WEST, Ariz. — An elderly spiritual leader shook a gourd rattle and sang prayers as dozens of news crews, some from as far away as Korea, jockeyed for position behind a cordon of yellow caution tape Wednesday. They were there to watch a 2-million-pound deck being inched into position off a limestone cliff 4,000 feet above the Grand Canyon floor." ...
For the full article see: http://www.usatoday.com/travel/news/2007-03-08-grand-canyon-skywalk_N.htm?csp=34
In other news
Tradeshow Week (3/5): MGM/Boyd show 13% increase in 4th quarter gaming revenue and 8% in hotel revenue
Business Week (3/19): has a lengthy feature on the problems blocking growth in India
California Real Estate Journal (2/26): San Diego retail moving to mixed use and redevelopment over new centers; Sacramento brownfield; mixed-use golf housing in Brea, CA; L.A. retail adapting; Inland Empire retail; Sacramento retail; hotel forecast for 2007
Business Week (3/19): has a lengthy feature on the problems blocking growth in India
California Real Estate Journal (2/26): San Diego retail moving to mixed use and redevelopment over new centers; Sacramento brownfield; mixed-use golf housing in Brea, CA; L.A. retail adapting; Inland Empire retail; Sacramento retail; hotel forecast for 2007
The News Continues
Preservation (Mar/Apr): New Orleans urban renewal
World Waterpark (Feb): Wave-die Woergler Wasserwelt, Austria; Breakwater Beach, NJ; St. Mary's Aquatic Center, GA
Golf Industry Report (1st qtr): closures outpacing openings in 2006
California Real Estate Journal (3/5); college construction projects canceled; Grand Ave changes
Street and Smith's Business Journal (2/26); record number of new facilities; feature on Lawrence, KS; NCAA basketball
San Diego Business Journal (3/6): special feature on tourism; list of top hotels
World Waterpark (Feb): Wave-die Woergler Wasserwelt, Austria; Breakwater Beach, NJ; St. Mary's Aquatic Center, GA
Golf Industry Report (1st qtr): closures outpacing openings in 2006
California Real Estate Journal (3/5); college construction projects canceled; Grand Ave changes
Street and Smith's Business Journal (2/26); record number of new facilities; feature on Lawrence, KS; NCAA basketball
San Diego Business Journal (3/6): special feature on tourism; list of top hotels
Guess what? More news!
Indian Country Today (3/7); anti-casino suit denied (MI); NY gaming
Indian Country Today (2/14): San Manuel Band building retail center; plans for national portfolio for lending on large Native projects; gaming NY and AL
Los Angeles Business Journal (3/5): Pacific Design Center's new building
Street and Smith's Sports Business Journal (2/5): X Games; Yankees and Mets planning overseas moves; NJ new arena; retail sales for team merchandise
Street and Smith's Sports Business Journal (2/19): Braves planned sale; NASCAR Hall of Fame; country spotlight on Brazil
Street and Smith's Sports Business Journal (2/12/): in-depth on NASCAR
Los Angeles Times (2/11): Grand Canyon Skywalk
Western City (Feb): Riverside (CA) infrastructure improvement plan
New Orleans City Business (2/5); N.O. musicians and the economy; too many condos on market; infrastructure improvements to refineries
Indian Country Today (2/14): San Manuel Band building retail center; plans for national portfolio for lending on large Native projects; gaming NY and AL
Los Angeles Business Journal (3/5): Pacific Design Center's new building
Street and Smith's Sports Business Journal (2/5): X Games; Yankees and Mets planning overseas moves; NJ new arena; retail sales for team merchandise
Street and Smith's Sports Business Journal (2/19): Braves planned sale; NASCAR Hall of Fame; country spotlight on Brazil
Street and Smith's Sports Business Journal (2/12/): in-depth on NASCAR
Los Angeles Times (2/11): Grand Canyon Skywalk
Western City (Feb): Riverside (CA) infrastructure improvement plan
New Orleans City Business (2/5); N.O. musicians and the economy; too many condos on market; infrastructure improvements to refineries
Monday, March 5, 2007
Los Angeles Children's Museum
From this afternoon's SFBJ newsflash:
Children’s Museum Names CEO
By - 3/5/2007
San Fernando Valley Business Journal Staff
"Children’s Museum of Los Angeles has appointed Cecilia Aguilera Glassman as its CEO"....
Construction on the building, a 57,000-square foot facility in Hansen Dam, is due to be completed this summer."....
for complete story see: http://sfvbj.com/enews_article.asp?aID=04689689.1360433.1442740.405511.972535.582&aID2=110971&lid=16&sid=&cID=Z
Children’s Museum Names CEO
By - 3/5/2007
San Fernando Valley Business Journal Staff
"Children’s Museum of Los Angeles has appointed Cecilia Aguilera Glassman as its CEO"....
Construction on the building, a 57,000-square foot facility in Hansen Dam, is due to be completed this summer."....
for complete story see: http://sfvbj.com/enews_article.asp?aID=04689689.1360433.1442740.405511.972535.582&aID2=110971&lid=16&sid=&cID=Z
Disney World expansion plans
from LABJ's news flash 3/2/2007:
Disney Expanding Disney World
By ALLEN P. ROBERTS Jr.
"Walt Disney Co. is planning two expansions to its Walt Disney World theme park in Orlando, Fla., including a 900-acre luxury resort and a commercial district just outside the entrance, the company announced Friday.
Disney said the resort will be a Four Seasons hotel and will feature a golf course and vacation condos. Work on the resort should begin this year, with the hotel expected to open in 2010..."
"Disney also plans to build a pedestrian-friendly development with hotels, stores and restaurants on the resort property. The development, which will center on a retail village, will be built in phases over the next eight to 10 years...."
for complete article see: http://labusinessjournal.com/enews_article.asp?aID=27031031.5854961.1440582.101586.2510093.147&aID2=110805&lid=37&sid=&cID=Z
Disney Expanding Disney World
By ALLEN P. ROBERTS Jr.
"Walt Disney Co. is planning two expansions to its Walt Disney World theme park in Orlando, Fla., including a 900-acre luxury resort and a commercial district just outside the entrance, the company announced Friday.
Disney said the resort will be a Four Seasons hotel and will feature a golf course and vacation condos. Work on the resort should begin this year, with the hotel expected to open in 2010..."
"Disney also plans to build a pedestrian-friendly development with hotels, stores and restaurants on the resort property. The development, which will center on a retail village, will be built in phases over the next eight to 10 years...."
for complete article see: http://labusinessjournal.com/enews_article.asp?aID=27031031.5854961.1440582.101586.2510093.147&aID2=110805&lid=37&sid=&cID=Z
Sunday, March 4, 2007
More news
Funworld (Mar): Hersheypark adding world's larest play structure; Gatorland (Orlando) opening despiute fire damage; Legoland is rebuilding Las Vegas in Carlsbad; Nut Tree family park reopening; Bruce Lee theme park planned for Chunde near Hong Kong; Vancouver Aquarium expanding; Cold War museum planned for secret bunker in Germany; features on Kidzania fec in Monterrey, Mexico and Rainbow's End fec in New Zealand; Columbus Zoo director profiled; Circus World museum back from bankruptcy
Fortune (2/19): Midway Airport up for sale; online real estate valuation
Funworld (Feb): Civil Rights museum planned for donated Atlanta land; BRC selected to redsign the VA and LA State Capitol visitors centers; Astroland sold; Columbus Zoo to reopen waterpark in 2008; UAE developing world's largest indoor waterpark
National Real Estate Investor (Feb): senior housing developments; senior housing and college towns; city reviews of San Diego and Tokyo; new retail developments
Retail Traffic (Feb): Mills Corp buyout deal reaching deadline
California Real Estate Journal (2/20): major industrial development in Perris; Sacramento industrial real estate forecast
Los Angeles Business Journal (2/19): Grand Ave; L.A. Olympic preparation; American Golf as meeting planners; performing arts centers list
Los Angeles Business Journal (1/15): Washington Blvd. project and transit problems
Tradeshow Week (2/26): top domestic donations for corporate travel
Tradeshow Week (2/12); new resort with meeting space opening in 2008 in Chicago; Hyatt New Orleans reopens; Mexico market tradeshows
Tradeshow Week (2/19): tradeshow attendance up slightly in 4th quarter
Fortune (2/19): Midway Airport up for sale; online real estate valuation
Funworld (Feb): Civil Rights museum planned for donated Atlanta land; BRC selected to redsign the VA and LA State Capitol visitors centers; Astroland sold; Columbus Zoo to reopen waterpark in 2008; UAE developing world's largest indoor waterpark
National Real Estate Investor (Feb): senior housing developments; senior housing and college towns; city reviews of San Diego and Tokyo; new retail developments
Retail Traffic (Feb): Mills Corp buyout deal reaching deadline
California Real Estate Journal (2/20): major industrial development in Perris; Sacramento industrial real estate forecast
Los Angeles Business Journal (2/19): Grand Ave; L.A. Olympic preparation; American Golf as meeting planners; performing arts centers list
Los Angeles Business Journal (1/15): Washington Blvd. project and transit problems
Tradeshow Week (2/26): top domestic donations for corporate travel
Tradeshow Week (2/12); new resort with meeting space opening in 2008 in Chicago; Hyatt New Orleans reopens; Mexico market tradeshows
Tradeshow Week (2/19): tradeshow attendance up slightly in 4th quarter
News! Come and get your news....
Appraisal Journal (winter 2007): appraising residential real estate; liquidation valuation of transport corridors
Hotels (Feb): short feature on indoor waterparks; international trends-- highlighting Moscow; spa feature on W Retreat in the Maldives
California Planner (Jan-Feb): downtowns and form-based codes
Forbes (Feb 26): feature on Vernon, CA
CP&DR (Feb): UC's long-range planning
Golf Business and Real Estate (2/12): Could American Golf be planning to sell?
New Orleans City Business (2/12): feature on soaring apartment rents
Los Angeles Business Journal (2/12): special feature on adaptive reuse
New Orleans City Business (1/29): Mardi Gras attendance projections; Canal Street redevelopment; LA Children's Museum reopens; major demographic shifts post-Katrina
San Diego Business Journal (2/5): military's financial impact on SD estimated at $12 billion; expansion of Sycuan Indian casino; building boom downtown; financing options for Balboa Park
California Real Estate Journal (2/12): slow in area condo conversions and growth in apartment market
San Diego Business Journal (2/12): condo conversions slowing as sales slump; National City seek approval for Chargers' stadium
Shopping Centers Today (Feb): Chicago's American Girl Place moving to new digs at Watertower Place; Sunset and Vine BID created; Gulf Coast aiming at new urbanist redevelopment; sustainable/green development; Dublin's waterfront redevelopment
IGWB (Feb): suits threatening Hark Rock's sale to Seminoles; MGM expanding internationally in coalition with the Mashantucket Pequots by moving to develop in China; KS considering expanding gaming; feature on PA gaming; Harrah's buyout
San Fernando Valley Business Journal (2/19): commercial real estate feature (condo slowdown, Fashion Square redevelopment, affordable housing)
Hotels (Feb): short feature on indoor waterparks; international trends-- highlighting Moscow; spa feature on W Retreat in the Maldives
California Planner (Jan-Feb): downtowns and form-based codes
Forbes (Feb 26): feature on Vernon, CA
CP&DR (Feb): UC's long-range planning
Golf Business and Real Estate (2/12): Could American Golf be planning to sell?
New Orleans City Business (2/12): feature on soaring apartment rents
Los Angeles Business Journal (2/12): special feature on adaptive reuse
New Orleans City Business (1/29): Mardi Gras attendance projections; Canal Street redevelopment; LA Children's Museum reopens; major demographic shifts post-Katrina
San Diego Business Journal (2/5): military's financial impact on SD estimated at $12 billion; expansion of Sycuan Indian casino; building boom downtown; financing options for Balboa Park
California Real Estate Journal (2/12): slow in area condo conversions and growth in apartment market
San Diego Business Journal (2/12): condo conversions slowing as sales slump; National City seek approval for Chargers' stadium
Shopping Centers Today (Feb): Chicago's American Girl Place moving to new digs at Watertower Place; Sunset and Vine BID created; Gulf Coast aiming at new urbanist redevelopment; sustainable/green development; Dublin's waterfront redevelopment
IGWB (Feb): suits threatening Hark Rock's sale to Seminoles; MGM expanding internationally in coalition with the Mashantucket Pequots by moving to develop in China; KS considering expanding gaming; feature on PA gaming; Harrah's buyout
San Fernando Valley Business Journal (2/19): commercial real estate feature (condo slowdown, Fashion Square redevelopment, affordable housing)
Wednesday, February 14, 2007
Sacramento K Street deal in jeopardy
The Sacramento Bee reported today that the City of Sacramento is suing local developers to force them to adhere to a land swap deal in an effort to save the redevelopment plan for blighted K Street.
See the full story at:
http://www.sacbee.com/101/story/123228.html
See the full story at:
http://www.sacbee.com/101/story/123228.html
Grand Ave approval
Our Dave Wilcox was there for the glorious moment....
See the full article at: http://www.latimes.com/news/local/la-me-grand14feb14,0,5273884.story?coll=la-home-headlines
Grand Avenue project passes go
City and county OK the $2.05-billion plan to reshape downtown L.A.
By Cara Mia DiMassa and Jack Leonard
Times Staff Writers
February 14, 2007
"Despite criticism about tax breaks and land giveaways, the Los Angeles County Board of Supervisors and the Los Angeles City Council gave final approvals Tuesday to a sprawling mini-city atop Bunker Hill that will alter L.A.'s skyline and set a course for future development in downtown.
Elected officials and other backers of the Grand Avenue project described the vote as a turning point for Los Angeles, whose civic leaders have tried for decades without success to establish a central cultural hub downtown that would draw people from throughout the region."....
"The $2.05-billion Grand Avenue project would be the largest single development in downtown history, and would be built almost entirely on public land that would be leased for 99 years to mega-developer the Related Cos. It has few if any equals in the region, in part because of the complexity and scope of the private-public partnership."............
See the full article at: http://www.latimes.com/news/local/la-me-grand14feb14,0,5273884.story?coll=la-home-headlines
Grand Avenue project passes go
City and county OK the $2.05-billion plan to reshape downtown L.A.
By Cara Mia DiMassa and Jack Leonard
Times Staff Writers
February 14, 2007
"Despite criticism about tax breaks and land giveaways, the Los Angeles County Board of Supervisors and the Los Angeles City Council gave final approvals Tuesday to a sprawling mini-city atop Bunker Hill that will alter L.A.'s skyline and set a course for future development in downtown.
Elected officials and other backers of the Grand Avenue project described the vote as a turning point for Los Angeles, whose civic leaders have tried for decades without success to establish a central cultural hub downtown that would draw people from throughout the region."....
"The $2.05-billion Grand Avenue project would be the largest single development in downtown history, and would be built almost entirely on public land that would be leased for 99 years to mega-developer the Related Cos. It has few if any equals in the region, in part because of the complexity and scope of the private-public partnership."............
Tuesday, February 13, 2007
Grand Ave.... again
LABJ announced by breaking-newsfalsh this evening that the City Council and County Board of Supervisors have approved the $2 billion Grand Ave. project.
for the latest see: http://labusinessjournal.com/enews_article.asp?aID=07482545.3062429.1432990.1207422.3993512.834&aID2=110221&lid=34&sid=&cID=ZZZ
for the latest see: http://labusinessjournal.com/enews_article.asp?aID=07482545.3062429.1432990.1207422.3993512.834&aID2=110221&lid=34&sid=&cID=ZZZ
Saturday, February 10, 2007
2/10/2007 Misc. News
L.A. Times (2/6): new moves in Hollywood redevelopment -- CIM Group buys Seven Seas building on Hollywood Blvd. across from Hollywood and Highland. CIM plans proper historic renovations and reuse of the building as commercial and retail for the area including drugstores, boutiques, fitness centers, etc.
M&C (Feb): destination guides on UT, MO, and L.A.
Tradeshow Week (2/5): MGM Mirage and Macau; Las Vegas Sands and Asia development; Harrah's and Uruguay
Business Week (2/12): Twin Farms resort in VT
Shopping Center Business (Feb): Burbank Town Center
San Fernando Valley Business Journal (2/5): Sheraton Universal sold for $120 million to Lowe Enterprises
Los Angeles Business Journal (2/5): AEG and L.A. Live plans; American Golf is now offering tee time reservations online; L.A. hotel market strong based on sale of Hilton and Sheraton properties
M&C (Feb): destination guides on UT, MO, and L.A.
Tradeshow Week (2/5): MGM Mirage and Macau; Las Vegas Sands and Asia development; Harrah's and Uruguay
Business Week (2/12): Twin Farms resort in VT
Shopping Center Business (Feb): Burbank Town Center
San Fernando Valley Business Journal (2/5): Sheraton Universal sold for $120 million to Lowe Enterprises
Los Angeles Business Journal (2/5): AEG and L.A. Live plans; American Golf is now offering tee time reservations online; L.A. hotel market strong based on sale of Hilton and Sheraton properties
2/5/2007 San Diego military impact
The San Diego Business journal's news flash today is touting that the U.S. military, San Diego's largest employer, has a $12 billion impact on the economy.
See:
http://sdbj.com/enews_article.asp?aID=77935572.9391338.1427647.1656729.6837485.973&aID2=109810&lid=30&sid=&cID=Z
See:
http://sdbj.com/enews_article.asp?aID=77935572.9391338.1427647.1656729.6837485.973&aID2=109810&lid=30&sid=&cID=Z
2/4/2007 L.A. 2016 Olympic bid
a little more detail on the L.A. 2016 Olympic bid can be found at:
LABJ: http://labusinessjournal.com/enews_article.asp?aID=576886802.6888193.1422655.2703761.5583597.394&aID2=109426&lid=33&sid=&cID=Z
LABJ: http://labusinessjournal.com/enews_article.asp?aID=576886802.6888193.1422655.2703761.5583597.394&aID2=109426&lid=33&sid=&cID=Z
2/4/2007 West Van Nuys planning to secede????
West Van Nuys is making plans to secede from Van Nuys and join with the community of Lake Balboa.
see: http://www.dailynews.com/ci_5153914
see: http://www.dailynews.com/ci_5153914
2/4/2007 Grand Avenue
For those of you following the soap opera.... the CRA granted approval Friday to the Grand Avenue project.
See:
LABJ: http://labusinessjournal.com/enews_article.asp?aID=14720154.1918451.1427231.5432812.1436971.815&aID2=109778&lid=37&sid=&cID=Z
Los Angeles Downtown News:
http://www.ladowntownnews.com/articles/2007/02/05/news/news_briefs/at01.txt
Los Angeles Daily News:
http://www.dailynews.com/search/ci_5139949
Los Angeles Times:
http://www.latimes.com/news/local/la-me-grandave3feb03,1,2354762.story?coll=la-headlines-california
See:
LABJ: http://labusinessjournal.com/enews_article.asp?aID=14720154.1918451.1427231.5432812.1436971.815&aID2=109778&lid=37&sid=&cID=Z
Los Angeles Downtown News:
http://www.ladowntownnews.com/articles/2007/02/05/news/news_briefs/at01.txt
Los Angeles Daily News:
http://www.dailynews.com/search/ci_5139949
Los Angeles Times:
http://www.latimes.com/news/local/la-me-grandave3feb03,1,2354762.story?coll=la-headlines-california
2/4/2007 OC housing
The OC Business Journal reports that home prices in the County fell in December but that sales were up over November's totals.
see: http://www.ocbj.com/enews_article.asp?aID=37821774.2188784.1423643.96226202.1223486.526&aID2=109502&lid=30&sid=&cID=Z
see: http://www.ocbj.com/enews_article.asp?aID=37821774.2188784.1423643.96226202.1223486.526&aID2=109502&lid=30&sid=&cID=Z
2/3/2007
Tradeshow Week (1/15): Harrah's Entertainment sale
M&C (Jan): international focus on Vancouver; golf events; megaresorts; destination guides on: Long Beach, Bermuda, WI, NM, Switzerland
Tourist Attractions and Parks (Jan): large park report; La Vegas attractions; Scotty's Castle; mini golf case study on Summerland Miniature Golf
California Real Estate Journal (1/29): real estate development in Mexico (including Trump); Wal-Mart opposition
California Real Estate Journal (1/22): condo-hotels; Navy/Manchester complex; medical condos
New Orleans City Business (1/1): home values leveling off; New Orleans restaurants doing well
New Orleans City Business (1/15): NFL playoffs boom for N.O.
M&C (Jan): international focus on Vancouver; golf events; megaresorts; destination guides on: Long Beach, Bermuda, WI, NM, Switzerland
Tourist Attractions and Parks (Jan): large park report; La Vegas attractions; Scotty's Castle; mini golf case study on Summerland Miniature Golf
California Real Estate Journal (1/29): real estate development in Mexico (including Trump); Wal-Mart opposition
California Real Estate Journal (1/22): condo-hotels; Navy/Manchester complex; medical condos
New Orleans City Business (1/1): home values leveling off; New Orleans restaurants doing well
New Orleans City Business (1/15): NFL playoffs boom for N.O.
2/3/2007
California Real Estate Journal (2/5): eminent domain bills; Culver City/Washington Blvd. RFP issued; special feature on misc. area's office development
Los Angeles Business Journal (1/22): real estate quarterly feature including a table on the L.A. County office market
Orange County Business Journal (1/29): new Disney boss and possibilities of a third CA park
Los Angeles Business Journal (1/29): L.A. Olympic bid for 2016; people feature on founder of Chuck E. Cheese's new venture -- computer-games-themes restaurant
Street and Smiths Sports Business Journal (1/29): Super Bowl feature
Street and Smiths Sports Business Journal (1/8): Baseball Hall of Fame; Hiroshima stadium; regional feature on sports "across America" (includes Chicago, Miami, Raleigh)
Street and Smiths Sports Business Journal (1/22): Texas Rangers new suites; name change for Football Hall of Fame; sports and facilities in Sydney; Hispanic demographics
San Diego Business Journal (1/29): new plans for Balboa Park; plans for Pacific Gateway/Navy Yard complex
Indian Country Today (1/10): update on Skywalk Project; much on gaming-- Foxwoods sued, Mashantuckets Philadelphia slots, Spokane tentative deal, Osage opening new casino in OK
New Orleans City Business (1/8): Harrah's purchase may be nullified by suit
Business Week (2/5): piece on Disney under Iger including bits on the parks
Forbes (2/12): Jackson Hole ski resorts
Tradeshow Week (1/29): first tier destination cities
New Urban News (Jan-Feb): FEMA housing of post-Katrina Gulf Coast
World Waterpark (Jan): waterparks/ice rinks in the Midwest; Fort Rapids indoor waterpark (OH); Aqualandia park Benidorm, Spain
Urban Land (Jan): retail special issue; de-malling; redevelopment of medium-sized shopping centers; retail in China; inner-city retail; entertainment districts; walkable redevelopment; regional spotlight on AZ
Real Estate Southern California (Jan): L.A.'s downtown projects
Los Angeles Business Journal (1/22): real estate quarterly feature including a table on the L.A. County office market
Orange County Business Journal (1/29): new Disney boss and possibilities of a third CA park
Los Angeles Business Journal (1/29): L.A. Olympic bid for 2016; people feature on founder of Chuck E. Cheese's new venture -- computer-games-themes restaurant
Street and Smiths Sports Business Journal (1/29): Super Bowl feature
Street and Smiths Sports Business Journal (1/8): Baseball Hall of Fame; Hiroshima stadium; regional feature on sports "across America" (includes Chicago, Miami, Raleigh)
Street and Smiths Sports Business Journal (1/22): Texas Rangers new suites; name change for Football Hall of Fame; sports and facilities in Sydney; Hispanic demographics
San Diego Business Journal (1/29): new plans for Balboa Park; plans for Pacific Gateway/Navy Yard complex
Indian Country Today (1/10): update on Skywalk Project; much on gaming-- Foxwoods sued, Mashantuckets Philadelphia slots, Spokane tentative deal, Osage opening new casino in OK
New Orleans City Business (1/8): Harrah's purchase may be nullified by suit
Business Week (2/5): piece on Disney under Iger including bits on the parks
Forbes (2/12): Jackson Hole ski resorts
Tradeshow Week (1/29): first tier destination cities
New Urban News (Jan-Feb): FEMA housing of post-Katrina Gulf Coast
World Waterpark (Jan): waterparks/ice rinks in the Midwest; Fort Rapids indoor waterpark (OH); Aqualandia park Benidorm, Spain
Urban Land (Jan): retail special issue; de-malling; redevelopment of medium-sized shopping centers; retail in China; inner-city retail; entertainment districts; walkable redevelopment; regional spotlight on AZ
Real Estate Southern California (Jan): L.A.'s downtown projects
1/29/2007 Legoland has record 2006
Congrats to our friends at Legoland who hit 1.66 million in attendance last year!
see: http://www.signonsandiego.com/news/business/20070126-9999-1b26lego.html
see: http://www.signonsandiego.com/news/business/20070126-9999-1b26lego.html
1/27/2007
from the field:
Economic Development Quarterly (Feb): riverboat casinos
California Real Estate Journal (1/16): Sacramento Rail Yards; corporate housing showing significant growth; Napa Valley eco-hotel; complaints over night games' lights for LAUSD football games
National Real Estate Investor (Jan): Westfield buys Seattle mall for redevelopment; sports-condos on the rise; medical office space; Atlanta office development rising; Columbus' Nationawide Arena District; convention hotels, especially in smaller markets; commercial space appraisals; eminent domain in the elections
Journal of Sports Economics (Feb): baseball spring training attendance
Tradeshow Week (1/22): New Orleans Morial Center running well
American Indian Report (Jan): feature on the California Nations Indian Gaming Association
Hotels (Jan): Vietnam; Parisian ice "club"
Fortune (1/22): Nashville
Forbes (1/29): pricing for movie theater tickets
Retail Traffic (Jan): Eastern Europe retail development; New Orleans retail; Biloxi/Gulf Coast gaming; retail adaptive reuse
San Fernando Valley Business Journal (1/8): Burbank Airport Hilton Hotel and Convention Center being renovated
Shopping Centers Today (Dec): existing centers too expensive to buy so the move is on to build new; bowling night spots at shopping centers; Ron Jon Surf Shop debuting lifestlye brand; retail development being used as a revival technique for dormant areas (ie. Baltimore Harbor); auto centers; Pocono development; malls in Mexico; Manhattan retail; Philippines' new developments
Shopping Centers Today (Jan): mom-and-pop shops in malls; demographic data for mixed-use development; Milan
IGWB (Jan): new Singapore license; new codes for UK casinos; market study for casino on Cyprus; Seminoles buy FL Hard Rock casino; MGM deal for non-casino development in Dubai; Age of Aquarius resort opens in Laughlin; Puerto Rico domestic market for casinos
San Diego Business Journal (1/22): new city hall complex; rugby at Petco Park
Los Angeles Business Journal (1/15): Culver City/Washington Blvd "opportunity area" developments
Los Angeles Business Journal (2007 Lists): lists of top golf courses, hotels, and meeting facilities
Shopping Center Business (Jan): Muvico movie theaters
CP&DR (Jan): eminent domain; Natomas' problems with potential flooding; City of Concord trying to halt transfer of the Concord Naval Weapons Station to an environmental engineering firm; San Bernardino County redeveloping after fire storm; Wal-Mart loses in court to the City of America's Canyon; South Bay mixed-use centers; South Pasadena
Economic Development Quarterly (Feb): riverboat casinos
California Real Estate Journal (1/16): Sacramento Rail Yards; corporate housing showing significant growth; Napa Valley eco-hotel; complaints over night games' lights for LAUSD football games
National Real Estate Investor (Jan): Westfield buys Seattle mall for redevelopment; sports-condos on the rise; medical office space; Atlanta office development rising; Columbus' Nationawide Arena District; convention hotels, especially in smaller markets; commercial space appraisals; eminent domain in the elections
Journal of Sports Economics (Feb): baseball spring training attendance
Tradeshow Week (1/22): New Orleans Morial Center running well
American Indian Report (Jan): feature on the California Nations Indian Gaming Association
Hotels (Jan): Vietnam; Parisian ice "club"
Fortune (1/22): Nashville
Forbes (1/29): pricing for movie theater tickets
Retail Traffic (Jan): Eastern Europe retail development; New Orleans retail; Biloxi/Gulf Coast gaming; retail adaptive reuse
San Fernando Valley Business Journal (1/8): Burbank Airport Hilton Hotel and Convention Center being renovated
Shopping Centers Today (Dec): existing centers too expensive to buy so the move is on to build new; bowling night spots at shopping centers; Ron Jon Surf Shop debuting lifestlye brand; retail development being used as a revival technique for dormant areas (ie. Baltimore Harbor); auto centers; Pocono development; malls in Mexico; Manhattan retail; Philippines' new developments
Shopping Centers Today (Jan): mom-and-pop shops in malls; demographic data for mixed-use development; Milan
IGWB (Jan): new Singapore license; new codes for UK casinos; market study for casino on Cyprus; Seminoles buy FL Hard Rock casino; MGM deal for non-casino development in Dubai; Age of Aquarius resort opens in Laughlin; Puerto Rico domestic market for casinos
San Diego Business Journal (1/22): new city hall complex; rugby at Petco Park
Los Angeles Business Journal (1/15): Culver City/Washington Blvd "opportunity area" developments
Los Angeles Business Journal (2007 Lists): lists of top golf courses, hotels, and meeting facilities
Shopping Center Business (Jan): Muvico movie theaters
CP&DR (Jan): eminent domain; Natomas' problems with potential flooding; City of Concord trying to halt transfer of the Concord Naval Weapons Station to an environmental engineering firm; San Bernardino County redeveloping after fire storm; Wal-Mart loses in court to the City of America's Canyon; South Bay mixed-use centers; South Pasadena
1/22/2007 CA zoo news
from this morning's San Diego Business Journal's e-news flash:
Van Nuys Lawmaker Trumpets Wild Animal Park’s Elephant Pen
By CONNIE LEWIS - 1/22/2007
San Diego Business Journal Staff
"A state Assemblyman who is crafting a bill that would dictate how much space is needed for elephant enclosures at zoos across California, says the Wild Animal Park is on the right track, but the San Diego Zoo isn’t. At least not at present.
Lloyd Levine, D-Van Nuys, said he is still working on the details. But a bill he plans to propose likely would call for zoos, circuses and other organizations to keep no more than three elephants in 5-acre enclosures. For each additional elephant, the space requirement might be expanded by a half acre.
A similar proposal last year failed to pass out of an Assembly committee and Levine wasn’t sure why.
“Nobody told me,” he said. But that was before he visited the Balboa Park zoo and Escondido’s Wild Animal Park, which are operated by the San Diego Zoological Society, in the spring of 2006.
Based on what he saw at the Wild Animal Park, he came away with ideas for some exemptions on his bill’s space dictates.
At the center of an issue that animal rights groups are focusing on nationwide is the question of how much space is needed to contain giant pachyderms outside of their natural environment. Known to roam tens of miles a day in the wild, many elephants that are confined in zoos and circuses are severely limited in their movement, which animal rights advocates claim results in chronic, debilitating foot disease and joint problems.
The Wild Animal Park currently has nine African elephants confined in 3 acres and six Asian elephants in 2.5 acres. But Levine said he observed that through play and exercise prompted by their keepers, they walk about five miles daily.
“The people I’ve talked to who are experts on elephant behavior say they roam anywhere between five and 50 miles a day in the wild,” Levine said. “So I’d say five miles would be a minimum standard.”
Their area at the Wild Animal Park, which contains dirt and sand similar to their natural habitat, is “an acceptable substrate” superior to the concrete flooring in some zoo enclosures, he added.
The Wild Animal Park’s elephants also have a watering hole they can walk into that provides entertainment and relieves the pressure on their feet and joints.
“I was impressed,” Levine added.
The elephant enclosure at the zoo in Balboa Park is another story.
Christine Simmons, a spokeswoman for the San Diego Zoological Society, said the confine for three elephants at the Balboa Park zoo is currently 17,194 square feet in size.
In Defense of Animals, meanwhile, has listed both attractions on its 2006 list of “Ten Worst Zoos for Elephants.” The list was released earlier this month.
“For all its claims of being a world-class zoo, when it comes to elephants, the pachyderms are definitely given second-class treatment,” the San Rafael-based animal rights organization said.
Catherine Doyle, a spokeswoman for the group, said the zoo plans to expand its elephant exhibit to a “stingy” 2 acres. An acre contains 43,560 square feet.
Simmons said construction on the expansion will begin sometime next year, but the start date was undetermined. She also said plans have not been finalized on the amount of space it would contain, but that it would be more than 2 acres."....
Following the earlier lead of other zoos, including the Detroit Zoo, several zoos last year announced the closure of their elephant exhibits — the Lion Country Safari in Florida, the Philadelphia Zoo and the Gladys Porter Zoo in Texas. Two other zoos, New York’s Bronx Zoo and the Santa Barbara Zoo, announced the phase-out of their elephant exhibits, Doyle said.
Bob Rauch, a local hotel owner and professor at San Diego State University’s Hospitality and Tourism Management Program, said the deaths of the three elephants sent from San Diego to Chicago should not be blamed on the San Diego Zoological Society.
“I don’t feel you can lay blame on the sender,” Rauch said.
As to whether restrictions should be put on elephant enclosures at the San Diego Zoo and Wild Animal Park, Rauch said, “Both parks are phenomenal tourist attractions and they should have the ability to use their own discretion given their track record on animal safety.”
Carl Winston, director of SDSU’s hospitality and tourism program, said he doubted attendance at the Balboa Park zoo, which stood at about 3 million last year, would drop if the elephant exhibit were closed.
“With the exception of special exhibits like the pandas, people don’t plan visits to the zoo or to San Diego just to see one exhibit,” Winston said. “Attractions aren’t built around one animal and I’m not aware of elephants being a key driver of zoo attendance anywhere.
“But it’s a slippery slope. If you take away the elephants, what’s next, the monkeys, tigers and bears, and where does it stop?”............
for the complete article see: http://sdbj.com/article.asp?aID=109338&link=perm
1/17/2007 Petco Park refi
from this morning's San Diego Business Journal news flash:
City Council OKs Ballpark Refinancing
By - 1/17/2007
San Diego Business Journal Staff
"The San Diego City Council approved a refinancing of its high-interest bonds Jan. 16 for Petco Park through a private placement arranged with Bank of America.
The city had planned to refinance the 2002 bonds, which carry a 7.66 percent rate, since 2004. But revelations about non-disclosures of expenses related to its employee pension plan triggered federal investigations and delayed annual financial audits that prevented the city from tapping into the public bond markets.
Mayor Jerry Sanders said the proposed alternative to the public market refinancing will save the city about $3.7 million annually, or $93 million during the 25-year term.
When the original ballpark bonds were issued in February 2002, the entire issue of $169.7 million was sold to underwriter Merrill Lynch.
The bonds carried the higher interest rate because of outstanding litigation on the ballpark, and the uncertainty of the bonds’ tax-exempt status.
City debt officials said the par amount on the outstanding ballpark debt is about $156.4 million. Using an estimated interest rate between 4.78 percent and 5.23 percent, the total refunding would be $172 million. The exact rate and refunding amount won’t be known until the transaction is concluded, likely in February, according to a city report.".......
"The city has been trying to get audits for fiscal years 2003 to 2006 for more than two years.
Petco Park, opened in 2004, cost about $450 million, with about two-thirds of the cost coming from public funds, and the remainder from the San Diego Padres."
— Mike Allen
for the complete article see: http://sdbj.com/article.asp?aID=109221&link=perm
1/15/2007 --- San Diego Navy/Broadway complex
From today's San Diego Business Journal news flash:
Watchdog Groups Taking Last-Ditch Stand Against Broadway Complex
By PAT BRODERICK - 1/15/2007
San Diego Business Journal Staff
"When the Manchester Financial Group was awarded the plum of redeveloping the Navy Broadway Complex into a mixed-use waterfront attraction 10 months ago, one question persisted — would the $1.2 billion project be devoted more to commerce or the common good?
Now, the new year is under way, and the debate is heating up. One local watchdog group, the Center on Policy Initiatives, is calling for a full financial accounting before ground is broken.
Questioning the premise that the project will generate transient occupancy taxes for the city, CPI contends that there are no guarantees of that, especially if the expected new rooms turn out to be condotels — a sort of time-share variation. Instead, based on CPI’s number crunching, it claims that the project could end up costing the city up to $1.2 million more than it generates in general fund revenues each year.
“We need to do due diligence,” said Murtaza Baxamusa, CPI’s director of research and policy. “We cannot leave it to chance. $1.2 million might seem like a drop in the bucket, but it’s significant.”
Nancy Graham, president and chief operating officer of Centre City Development Corp., which oversees downtown redevelopment for the city, is baffled by that argument.
“The city gets nothing from the site now,” she said. “They should and will be getting revenue from the development there. I can’t see how it will cost the city more than it will receive.”
......
"As for a new fiscal analysis of the project, Graham said that CCDC is focused on design and whether or not plans meet the criteria of the 1992 development agreement between the city and the Navy."
...........
"Anchors Awry
Meanwhile, another local watchdog group, the San Diego Navy Broadway Complex Coalition, on Jan. 4 filed suit in district court against the U.S. Department of Defense, the Navy and the Manchester Pacific Gateway LLCcontending that the Navy failed to adequately address the environmental impact of the project.
The 15-acre site, at Broadway and North Harbor Drive, will include a new Navy headquarters, followed by Class A commercial and retail space, hotels, public attractions, parking and 5-plus acres of open space.
The coalition said it is concerned that the site might be prone to such hazards as earthquakes and terrorist attacks, and complain that the public has been largely shut out of the decision-making process."
....
"On Jan. 9, the San Diego City Council rejected an appeal by the coalition, asking for more environmental study of the project. The reasoning: All of the coalition’s concerns already have been taken into consideration, and will continue to be addressed.".........
"Papa Doug
All of this controversy has left “Papa Doug” Manchester, chairman of Manchester Financial Group, fuming.
“These are the same people that protested the Convention Center, the Hyatt expansion and the ballpark,” he said. “They are obstructionists who do not want anything built down there.”
Manchester dismissed the coalition’s comments about a lack of public input as “ludicrous,” noting that there had been numerous public hearings on the matter.
“That is the height of absurdity,” he said. “You have a piece of property sitting there on the western edge of our town, ugly Navy buildings. It’s like when we had tattoo parlors and girlie joints, where now we have the Hyatt and Marriott and a resurgence of downtown redevelopment.”
He also dismissed as “absolutely ludicrous” ongoing comments from opponents of his project that his financial support of Mayor Jerry Sanders’ ballot measure — to open up city services to outside competition — was designed to curry favor at City Hall.
Navy Blues
While the Navy is declining any formal comment on the lawsuit or CPI concerns, N. Scott Sutherland, spokesman for the Navy Region Southwest, commented, “We encourage the general public and organizations to come forward with their ideas on how we can make this project succeed. But as many analyses that can be shown in the negative, we expect that we can show positive outcomes as well.”
In November, the Navy signed a landmark 99-year lease with Manchester for the redevelopment, beating a Jan. 1 deadline that could have resulted in the complex being closed by the federal government.
But the project remains a work in progress, with the CCDC continuing to work with the Manchester team on design issues. The California Coastal Commission is expected to start reviewing the project during the week of Jan. 15, according to Manchester executive Perry Dealy.
Ground isn’t expected to be broken on the project until at least the end of 2007, he said."
For complete article see: http://sdbj.com/article.asp?aID=109146&link=perm
Watchdog Groups Taking Last-Ditch Stand Against Broadway Complex
By PAT BRODERICK - 1/15/2007
San Diego Business Journal Staff
"When the Manchester Financial Group was awarded the plum of redeveloping the Navy Broadway Complex into a mixed-use waterfront attraction 10 months ago, one question persisted — would the $1.2 billion project be devoted more to commerce or the common good?
Now, the new year is under way, and the debate is heating up. One local watchdog group, the Center on Policy Initiatives, is calling for a full financial accounting before ground is broken.
Questioning the premise that the project will generate transient occupancy taxes for the city, CPI contends that there are no guarantees of that, especially if the expected new rooms turn out to be condotels — a sort of time-share variation. Instead, based on CPI’s number crunching, it claims that the project could end up costing the city up to $1.2 million more than it generates in general fund revenues each year.
“We need to do due diligence,” said Murtaza Baxamusa, CPI’s director of research and policy. “We cannot leave it to chance. $1.2 million might seem like a drop in the bucket, but it’s significant.”
Nancy Graham, president and chief operating officer of Centre City Development Corp., which oversees downtown redevelopment for the city, is baffled by that argument.
“The city gets nothing from the site now,” she said. “They should and will be getting revenue from the development there. I can’t see how it will cost the city more than it will receive.”
......
"As for a new fiscal analysis of the project, Graham said that CCDC is focused on design and whether or not plans meet the criteria of the 1992 development agreement between the city and the Navy."
...........
"Anchors Awry
Meanwhile, another local watchdog group, the San Diego Navy Broadway Complex Coalition, on Jan. 4 filed suit in district court against the U.S. Department of Defense, the Navy and the Manchester Pacific Gateway LLCcontending that the Navy failed to adequately address the environmental impact of the project.
The 15-acre site, at Broadway and North Harbor Drive, will include a new Navy headquarters, followed by Class A commercial and retail space, hotels, public attractions, parking and 5-plus acres of open space.
The coalition said it is concerned that the site might be prone to such hazards as earthquakes and terrorist attacks, and complain that the public has been largely shut out of the decision-making process."
....
"On Jan. 9, the San Diego City Council rejected an appeal by the coalition, asking for more environmental study of the project. The reasoning: All of the coalition’s concerns already have been taken into consideration, and will continue to be addressed.".........
"Papa Doug
All of this controversy has left “Papa Doug” Manchester, chairman of Manchester Financial Group, fuming.
“These are the same people that protested the Convention Center, the Hyatt expansion and the ballpark,” he said. “They are obstructionists who do not want anything built down there.”
Manchester dismissed the coalition’s comments about a lack of public input as “ludicrous,” noting that there had been numerous public hearings on the matter.
“That is the height of absurdity,” he said. “You have a piece of property sitting there on the western edge of our town, ugly Navy buildings. It’s like when we had tattoo parlors and girlie joints, where now we have the Hyatt and Marriott and a resurgence of downtown redevelopment.”
He also dismissed as “absolutely ludicrous” ongoing comments from opponents of his project that his financial support of Mayor Jerry Sanders’ ballot measure — to open up city services to outside competition — was designed to curry favor at City Hall.
Navy Blues
While the Navy is declining any formal comment on the lawsuit or CPI concerns, N. Scott Sutherland, spokesman for the Navy Region Southwest, commented, “We encourage the general public and organizations to come forward with their ideas on how we can make this project succeed. But as many analyses that can be shown in the negative, we expect that we can show positive outcomes as well.”
In November, the Navy signed a landmark 99-year lease with Manchester for the redevelopment, beating a Jan. 1 deadline that could have resulted in the complex being closed by the federal government.
But the project remains a work in progress, with the CCDC continuing to work with the Manchester team on design issues. The California Coastal Commission is expected to start reviewing the project during the week of Jan. 15, according to Manchester executive Perry Dealy.
Ground isn’t expected to be broken on the project until at least the end of 2007, he said."
For complete article see: http://sdbj.com/article.asp?aID=109146&link=perm
1/12/2007 Magic Mt not part of 6 Flags sale
It's all over, but just so you know......
from Forbes online 1/12/2007:
Magic Mountain Spared in Six Flags Sale
By ALEX VEIGA 01.12.07, 10:59 AM ET
"The owner of Magic Mountain will continue operating the roller-coaster theme park and its adjacent Hurricane Harbor water park in Valencia, excluding the properties from a $312 million theme park sell-off.
The move by New York-based Six Flags Inc. (nyse: SIX - news - people ) ends months of speculation on the fate of Magic Mountain, which last year appeared like it might be among a several theme parks destined for the auction block.
Six Flags announced Thursday it would sell seven of its 30 North American parks in a bid to improve its debt-laden balance sheet.
Magic Mountain and Hurricane Harbor will remain open for business this year and beyond, the company said.
Last year, real estate developers offered to buy Magic Mountain in hopes of razing it, but Six Flags ruled out any buyers who did not plan to keep the park open.
Attendance at Magic Mountain fell 12 percent during the key June through December period last year compared with the same period in 2005.
The company has blamed that attendance drop in large part to uncertainty about the park's future."
For complete story see: http://www.forbes.com/feeds/ap/2007/01/12/ap3324690.html
From Reuters 1/11/2007:
Six Flags rises after parks sale news
Thu Jan 11, 2007 8:58 AM ET
"NEW YORK (Reuters) - Shares of Six Flags Inc. rose 5.9 percent to $5.75 in trading before the market opened on Thursday after the amusement park company said it will sell seven parks."
for complete article see: http://today.reuters.com/news/articleinvesting.aspx?type=hotStocksNews&storyID=2007-01-11T135830Z_01_N11395869_RTRUKOC_0_US-MARKETS-STOCKS-BEFORETHEBELL-six.xml
From the Houston Chronicle 1/12/2007
Jan. 12, 2007, 10:18AM
S&P Keeps Six Flags on Watch Negative
"NEW YORK — Standard & Poor's Ratings Services said Friday its ratings, including the 'B-' corporate credit rating, on amusement park operator Six Flags Inc. remains on CreditWatch with negative implications.
The CreditWatch update followed Six Flags' Thursday announcement it agreed to sell seven of its parks for $312 million.
New York-based regional theme park owner and operator Six Flags had $2.5 billion of debt and preferred stock outstanding as of Sept. 30. The company said Thursday it will use the cash proceeds of the sale, which is expected to be completed in March 2007, to reduce debt.
"We remain concerned that debt reduction from the proceeds of the transaction will not reduce pro forma debt leverage, which we see as high," said Standard & Poor's credit analyst Hal F. Diamond.
The ratings agency said it will reevaluate the company's business strategies, operating outlook and liquidity in light of plans for debt reduction."
for the complete article go to: http://www.chron.com/disp/story.mpl/ap/fn/4466382.html
from Forbes online 1/12/2007:
Magic Mountain Spared in Six Flags Sale
By ALEX VEIGA 01.12.07, 10:59 AM ET
"The owner of Magic Mountain will continue operating the roller-coaster theme park and its adjacent Hurricane Harbor water park in Valencia, excluding the properties from a $312 million theme park sell-off.
The move by New York-based Six Flags Inc. (nyse: SIX - news - people ) ends months of speculation on the fate of Magic Mountain, which last year appeared like it might be among a several theme parks destined for the auction block.
Six Flags announced Thursday it would sell seven of its 30 North American parks in a bid to improve its debt-laden balance sheet.
Magic Mountain and Hurricane Harbor will remain open for business this year and beyond, the company said.
Last year, real estate developers offered to buy Magic Mountain in hopes of razing it, but Six Flags ruled out any buyers who did not plan to keep the park open.
Attendance at Magic Mountain fell 12 percent during the key June through December period last year compared with the same period in 2005.
The company has blamed that attendance drop in large part to uncertainty about the park's future."
For complete story see: http://www.forbes.com/feeds/ap/2007/01/12/ap3324690.html
From Reuters 1/11/2007:
Six Flags rises after parks sale news
Thu Jan 11, 2007 8:58 AM ET
"NEW YORK (Reuters) - Shares of Six Flags Inc.
for complete article see: http://today.reuters.com/news/articleinvesting.aspx?type=hotStocksNews&storyID=2007-01-11T135830Z_01_N11395869_RTRUKOC_0_US-MARKETS-STOCKS-BEFORETHEBELL-six.xml
From the Houston Chronicle 1/12/2007
Jan. 12, 2007, 10:18AM
S&P Keeps Six Flags on Watch Negative
"NEW YORK — Standard & Poor's Ratings Services said Friday its ratings, including the 'B-' corporate credit rating, on amusement park operator Six Flags Inc. remains on CreditWatch with negative implications.
The CreditWatch update followed Six Flags' Thursday announcement it agreed to sell seven of its parks for $312 million.
New York-based regional theme park owner and operator Six Flags had $2.5 billion of debt and preferred stock outstanding as of Sept. 30. The company said Thursday it will use the cash proceeds of the sale, which is expected to be completed in March 2007, to reduce debt.
"We remain concerned that debt reduction from the proceeds of the transaction will not reduce pro forma debt leverage, which we see as high," said Standard & Poor's credit analyst Hal F. Diamond.
The ratings agency said it will reevaluate the company's business strategies, operating outlook and liquidity in light of plans for debt reduction."
for the complete article go to: http://www.chron.com/disp/story.mpl/ap/fn/4466382.html
1/12/2007
California Real Estate Journal (1/8): Broadreach Capital buys Sunset Millennium; Wal-Mart pharmacy pricing not expected to hurt CA drug stores; Universal expects no problems leasing its new development despite its studio layoffs
Los Angeles Business Journal (1/8): hotel media programming targeting HNW guests
San Diego Business Journal (1/8): maglev train service proposed for border to Ontario airport route
New Orleans City Business (12/25): the year-end wrap-up issue includes articles on the impact of the reopening of the Superdome, the return of the Saints, the continuing visitor dearth, and manufactured housing as the solution to affordable housing in the region, as well as a list/table of the N.O area tourist destinations
Funworld (Jan) includes short pieces on Branson opening a new $600 million attraction, Disneyworld testing hand-held games for in-park visitors; Holiday World's (Santa Claus, IN) expansion, and African Lion Safari Game Farm (Ontario, Canada); and features on Mats Wedin of Liseberg (Sweden) and Serge Naim of Compagnie des Alpes' leisure parks division and their plans for international expansion
Los Angeles Business Journal (1/8): hotel media programming targeting HNW guests
San Diego Business Journal (1/8): maglev train service proposed for border to Ontario airport route
New Orleans City Business (12/25): the year-end wrap-up issue includes articles on the impact of the reopening of the Superdome, the return of the Saints, the continuing visitor dearth, and manufactured housing as the solution to affordable housing in the region, as well as a list/table of the N.O area tourist destinations
Funworld (Jan) includes short pieces on Branson opening a new $600 million attraction, Disneyworld testing hand-held games for in-park visitors; Holiday World's (Santa Claus, IN) expansion, and African Lion Safari Game Farm (Ontario, Canada); and features on Mats Wedin of Liseberg (Sweden) and Serge Naim of Compagnie des Alpes' leisure parks division and their plans for international expansion
1/12/2007 REITs, NYC, L.A. contiue to grow
Mike Wright found a piece of interest to share in GlobeSt.com 1/9/2007 -- itals of particular note.... MAW .....
Lusk Center Chief Sees Steady Capital Flow
By Bob Howard
"LOS ANGELES-Real estate capital will head in new directions in 2007, according to one of the industry's longtime students of commercial real estate. Stan Ross, chairman of the board of the University of Southern California's Lusk Center for Real Estate, calls 2007 the “Year of Recycling” for real estate capital.
Ross explains that capital is not leaving property markets, but it is “being recycled into small equity funds, limited partnerships and alternative investments.” A good part of what's happening with capital this year is an outgrowth of last year's privatization push, in which some of the largest public REITs went private, according to Ross.
Ross cites New York and Los Angeles among the “leading metropolitan markets” where properties will continue to command top dollar. In addition to investing in traditional office, retail, industrial and hotel assets, investors are going to be taking a closer look at alternative investments including urban infill, adaptive reuse and multifamily-retail developments near inner city transit centers, Ross says.
Despite the disappearance of some of the largest REITs, the capital that was fueling their growth is still around and it wants to remain in real estate, according to Ross. He says that some investors who previously had been targeting public REITs “will shift to smaller private equity funds and hedge funds as well as limited partnerships, joint ventures and direct investments in niche properties.”
for the complete article see: http://www.globest.com/news/819_819/losangeles/151989-1.html?type=pf
Lusk Center Chief Sees Steady Capital Flow
By Bob Howard
"LOS ANGELES-Real estate capital will head in new directions in 2007, according to one of the industry's longtime students of commercial real estate. Stan Ross, chairman of the board of the University of Southern California's Lusk Center for Real Estate, calls 2007 the “Year of Recycling” for real estate capital.
Ross explains that capital is not leaving property markets, but it is “being recycled into small equity funds, limited partnerships and alternative investments.” A good part of what's happening with capital this year is an outgrowth of last year's privatization push, in which some of the largest public REITs went private, according to Ross.
Ross cites New York and Los Angeles among the “leading metropolitan markets” where properties will continue to command top dollar. In addition to investing in traditional office, retail, industrial and hotel assets, investors are going to be taking a closer look at alternative investments including urban infill, adaptive reuse and multifamily-retail developments near inner city transit centers, Ross says.
Despite the disappearance of some of the largest REITs, the capital that was fueling their growth is still around and it wants to remain in real estate, according to Ross. He says that some investors who previously had been targeting public REITs “will shift to smaller private equity funds and hedge funds as well as limited partnerships, joint ventures and direct investments in niche properties.”
for the complete article see: http://www.globest.com/news/819_819/losangeles/151989-1.html?type=pf
1/8/2006 Mesa Verde National Park expansion
from the 1/6/2007 Farmington (NM) Daily Times
National park could see growth
By Lisa Meerts The Daily Times
Farmington Daily Times
"MESA VERDE NATIONAL PARK — Land neighboring Mesa Verde National Park could one day be included within its boundaries, adding more cultural sites as well as a rare daisy to the park's already abundant treasures.
U.S. Sen. Wayne Allard, R.-Colo., introduced a bill on Thursday that calls for two parcels totaling more than 360 acres to be incorporated into Mesa Verde. The Henneman family owns 324 acres and the Mesa Verde Foundation owns another 37 acres. Both lots stretch north of the park along U.S. Highway 160.
Betty Janes, assistant superintendent at Mesa Verde, said the Henneman property may eventually include nature trails. She added land from the Mesa Verde Foundation could house a new museum and visitor's center.
"The idea is that when you come into Mesa Verde, you will be able to stop immediately and find out what there is to see and do," she said. "It's going to be really cool for people to be able to understand what the park is all about without driving 15 miles (into it)."
Mesa Verde, which celebrated its centennial in 2006, spans roughly 52,000 acres and includes some of the largest and best preserved cliff dwellings within the United States. Visitors drive 15 miles along a road that requires low-speed travel before they reach the visitor's center, built in the 1960s. There they can plan their tour of the park. The museum is located five miles further and was built in the 1920s.
Allard's bill is one of many steps needed to acquire the Mesa Verde Foundation land and construct new buildings, said Janes. She noted the park can only purchase the land after U.S. Congress extends the boundary. Once the National Park Service owns the land, it can acquire money for the museum. Janes said the museum is in the design phase and the park service expects to request funding in 2009.
The Henneman property, which includes many Native American resources, has been held within the family for more than three decades. Should it become part of Mesa Verde, it will add something entirely new — the Gray's Townsend Daisy.
"It's very unusual and we're very interested in helping preserve it," said Janes, who added the globally at-risk flower likes the chemical make-up of Mancos shale.
Jerry Henneman, whose family owns the 324 acres, described the land as a peninsula within Mesa Verde National Park. Its water line runs through the property as does wildlife, he said. "It's a natural fit for them."
...........
For the full article see: http://daily-times.com/news/ci_4961370
National park could see growth
By Lisa Meerts The Daily Times
Farmington Daily Times
"MESA VERDE NATIONAL PARK — Land neighboring Mesa Verde National Park could one day be included within its boundaries, adding more cultural sites as well as a rare daisy to the park's already abundant treasures.
U.S. Sen. Wayne Allard, R.-Colo., introduced a bill on Thursday that calls for two parcels totaling more than 360 acres to be incorporated into Mesa Verde. The Henneman family owns 324 acres and the Mesa Verde Foundation owns another 37 acres. Both lots stretch north of the park along U.S. Highway 160.
Betty Janes, assistant superintendent at Mesa Verde, said the Henneman property may eventually include nature trails. She added land from the Mesa Verde Foundation could house a new museum and visitor's center.
"The idea is that when you come into Mesa Verde, you will be able to stop immediately and find out what there is to see and do," she said. "It's going to be really cool for people to be able to understand what the park is all about without driving 15 miles (into it)."
Mesa Verde, which celebrated its centennial in 2006, spans roughly 52,000 acres and includes some of the largest and best preserved cliff dwellings within the United States. Visitors drive 15 miles along a road that requires low-speed travel before they reach the visitor's center, built in the 1960s. There they can plan their tour of the park. The museum is located five miles further and was built in the 1920s.
Allard's bill is one of many steps needed to acquire the Mesa Verde Foundation land and construct new buildings, said Janes. She noted the park can only purchase the land after U.S. Congress extends the boundary. Once the National Park Service owns the land, it can acquire money for the museum. Janes said the museum is in the design phase and the park service expects to request funding in 2009.
The Henneman property, which includes many Native American resources, has been held within the family for more than three decades. Should it become part of Mesa Verde, it will add something entirely new — the Gray's Townsend Daisy.
"It's very unusual and we're very interested in helping preserve it," said Janes, who added the globally at-risk flower likes the chemical make-up of Mancos shale.
Jerry Henneman, whose family owns the 324 acres, described the land as a peninsula within Mesa Verde National Park. Its water line runs through the property as does wildlife, he said. "It's a natural fit for them."
...........
For the full article see: http://daily-times.com/news/ci_4961370
1/8/2007 Mohegan Sun expansion announced
from the Akron Beacon Journal online -- 1/7/2007
Tribal casino announces $740 million expansion
Associated Press
"Mohegan Sun, already one of the world's largest casinos, has unveiled plans for an estimated $740 million expansion in Uncasville, Conn., that will include the return of poker and a new House of Blues music hall.
.....
Mohegan Sun, which has been celebrating its 10th anniversary, has about 10,000 employees and expects to add about another 2,000 in the next five years. The tribe's casino attracts 35,000 visitors daily and generates about $1.5 billion annually in revenue.
The expansion, known as ``Project Horizon,'' will include a 38-story, 1,000-room hotel slated to open in 2010. Inside will be a smaller, House of Blues-themed hotel. The House of Blues music hall, which will hold about 1,500 people, is scheduled to open in 2009. There will also be an adjoining restaurant and store.
The casino already has a 1,200-room hotel, but it is 93 percent full on an average night, meaning the casino has had trouble accommodating larger conventions because it can't guarantee hotel space.
The new hotel tower, which will also include a new spa, is set to open in 2010. Other elements of the project are expected to open sooner, spring of 2008, including more restaurants and shops, and a new Casino of the Wind, which will add 964 slot machines to the 6,000 the casino already has.
A new Casino of the Earth opening in the summer of 2007 will aim to draw Asian customers with table games and a Hong Kong street food outlet.
Casino officials are also hoping to bring in more young people by opening a 45-table poker room." .....
For the complete story see: http://www.ohio.com/mld/ohio/living/travel/16397533.htm
Tribal casino announces $740 million expansion
Associated Press
"Mohegan Sun, already one of the world's largest casinos, has unveiled plans for an estimated $740 million expansion in Uncasville, Conn., that will include the return of poker and a new House of Blues music hall.
.....
Mohegan Sun, which has been celebrating its 10th anniversary, has about 10,000 employees and expects to add about another 2,000 in the next five years. The tribe's casino attracts 35,000 visitors daily and generates about $1.5 billion annually in revenue.
The expansion, known as ``Project Horizon,'' will include a 38-story, 1,000-room hotel slated to open in 2010. Inside will be a smaller, House of Blues-themed hotel. The House of Blues music hall, which will hold about 1,500 people, is scheduled to open in 2009. There will also be an adjoining restaurant and store.
The casino already has a 1,200-room hotel, but it is 93 percent full on an average night, meaning the casino has had trouble accommodating larger conventions because it can't guarantee hotel space.
The new hotel tower, which will also include a new spa, is set to open in 2010. Other elements of the project are expected to open sooner, spring of 2008, including more restaurants and shops, and a new Casino of the Wind, which will add 964 slot machines to the 6,000 the casino already has.
A new Casino of the Earth opening in the summer of 2007 will aim to draw Asian customers with table games and a Hong Kong street food outlet.
Casino officials are also hoping to bring in more young people by opening a 45-table poker room." .....
For the complete story see: http://www.ohio.com/mld/ohio/living/travel/16397533.htm
1/7/2007 New museum for AR
from Arkansas Business' online newsletter January 5th --
U.S. Marshals Choose Fort Smith For Museum
By Arkansas Business Staff - 1/5/2007 9:54:46 AM
"The U.S. Marshals Service said Friday that it has selected Fort Smith as the host city for the agency's new museum.
Director John F. Clark made the announcement after receiving recommendations from a 10-person museum committee that has studied the issue for two years.
"This was a tough decision, as we were very pleased with the enthusiasm of both finalists," Clark said. "Now that we have selected Fort Smith, we are excited about this new opportunity to tell the story of the U.S. Marshals Service's 217-year history to the country."
Fort Smith was chosen over Staunton, Va. It will be home to a museum that will feature artifacts and special exhibits from America's oldest federal law enforcement agency. The museum also will serve as an educational center and will memorialize the Marshals Service's past, present and future law enforcement roles, the agency said."
........
for complete article see: http://arkansasbusiness.com/article.aspx?lID=87&sID=88&ms=89&cID=Z&aID=96655.93092.108781
U.S. Marshals Choose Fort Smith For Museum
By Arkansas Business Staff - 1/5/2007 9:54:46 AM
"The U.S. Marshals Service said Friday that it has selected Fort Smith as the host city for the agency's new museum.
Director John F. Clark made the announcement after receiving recommendations from a 10-person museum committee that has studied the issue for two years.
"This was a tough decision, as we were very pleased with the enthusiasm of both finalists," Clark said. "Now that we have selected Fort Smith, we are excited about this new opportunity to tell the story of the U.S. Marshals Service's 217-year history to the country."
Fort Smith was chosen over Staunton, Va. It will be home to a museum that will feature artifacts and special exhibits from America's oldest federal law enforcement agency. The museum also will serve as an educational center and will memorialize the Marshals Service's past, present and future law enforcement roles, the agency said."
........
for complete article see: http://arkansasbusiness.com/article.aspx?lID=87&sID=88&ms=89&cID=Z&aID=96655.93092.108781
1/7/2007
Nevada Magazine (Jan-Feb) includes a rather nice article with a directory-review of ski resorts in the Reno-Tahoe area
Indian Country Today (12/13) has pieces on the death of the off-reservation gaming bill in Congress; the defeat of the Narragansett casino referendum; the Heard Museum's plans for a satellite museum in Gilbert, AZ; the attendance flood that welcomed the opening of PA's first casino (in Wilkes-Barre); MT tribe's decision to not expand gaming compacts; the Pequots' bid for a casino in PA; problems with development of the Gun Lake (WA) casino
Indian Country Business 2007 -- includes a directory of all federally-recognized tribes
World Waterpark (Dec) has a feature on the Country Springs Hotel in Waukesha and its indoor waterpark
Street and Smith's Sports Business Journal (12/25) has a piece on college basketball programs upgrading their practice arenas; the year in sports review contains a list of new facilities, their teams, locations, and cost
New Orleans City Business (12/25) has pieces on the Saints becoming a "beacon of recovery;" the reopening of the Superdome; modular housing providing affordable housing for now in NO; airport incentives as an effort to get airlines to return to the market; continuing Katrina impacts on the tourist market with a detailed table on local attractions
San Diego Business Journal (1/1) covers plans for the Chargers to move elsewhere; and casino development projects
Street and Smith's Sports Business Journal (12/18) has pieces on the Cowboys' plans for field-level suites
Street and Smith's Sports Business Journal (12/11) has pieces on NFL owners putting up $300m for a NY stadium; the University of Louisville's plans for selling suites and tickets in its new arena; and lists of the top branding deals in sports and their costs
Indian Country Today (12/13) has pieces on the death of the off-reservation gaming bill in Congress; the defeat of the Narragansett casino referendum; the Heard Museum's plans for a satellite museum in Gilbert, AZ; the attendance flood that welcomed the opening of PA's first casino (in Wilkes-Barre); MT tribe's decision to not expand gaming compacts; the Pequots' bid for a casino in PA; problems with development of the Gun Lake (WA) casino
Indian Country Business 2007 -- includes a directory of all federally-recognized tribes
World Waterpark (Dec) has a feature on the Country Springs Hotel in Waukesha and its indoor waterpark
Street and Smith's Sports Business Journal (12/25) has a piece on college basketball programs upgrading their practice arenas; the year in sports review contains a list of new facilities, their teams, locations, and cost
New Orleans City Business (12/25) has pieces on the Saints becoming a "beacon of recovery;" the reopening of the Superdome; modular housing providing affordable housing for now in NO; airport incentives as an effort to get airlines to return to the market; continuing Katrina impacts on the tourist market with a detailed table on local attractions
San Diego Business Journal (1/1) covers plans for the Chargers to move elsewhere; and casino development projects
Street and Smith's Sports Business Journal (12/18) has pieces on the Cowboys' plans for field-level suites
Street and Smith's Sports Business Journal (12/11) has pieces on NFL owners putting up $300m for a NY stadium; the University of Louisville's plans for selling suites and tickets in its new arena; and lists of the top branding deals in sports and their costs
1/6/2007
NGF's Golf Industry Report (4th Quarter 2006) has previews of their "upbeat" outlook on the industry for 2007
IGWB (Dec) has features on NM as well as on Russia's impending restrictions on gaming; also pieces on the UK "super casino" selection process and a new Manchester casino from LCI, and bidding for Singapore casino lisence and funding for the City of Dreams casino in Macau
San Diego Business Journal (12/18) has a significant piece on space tourism
New Orleans City Business (12/4) has a piece on the city's hotel industry excitement over the Sugar Bowl, and a piece on the continuing negative impacts of Katrina on ecotourism businesses
New Orleans City Business (12/11) has an article on the City's junk bond rating
Retail Traffic (Dec) includes articles on: 9 states restricting eminent domain post-Kelo; movie theaters returning to America's malls; Wal-Mart opening its first Canadian supercenters; progress on Nut Tree Village's redevelopment; Mills Corp. being hit by another lawsuit; the coming death of music stores; mall blogs; and a special supplementary article on the rise of mixed-use development; the regional feature is on the Northeast and includes articles on Stamford, Boston, New Haven, northern NJ, large-scale retail developments, and grocery stores
Urban Land (Nov-Dec) has pieces on: New Orleans on the anniversary of Katrina; 10 design cities "to watch" (Atlanta, Chicago, L.A., Miami, Minneapolis, NYC, San Francisco, Seattle, Portland, OR, and Kansas City, MO; architectural design in China; high-density design in Europe; historic preservation and reuse of old movie theaters and restaurants; Coney Island's arty subway station; the Indian market; state restrictions on Kelo; with a regional spotlight on PA
IGWB (Dec) has features on NM as well as on Russia's impending restrictions on gaming; also pieces on the UK "super casino" selection process and a new Manchester casino from LCI, and bidding for Singapore casino lisence and funding for the City of Dreams casino in Macau
San Diego Business Journal (12/18) has a significant piece on space tourism
New Orleans City Business (12/4) has a piece on the city's hotel industry excitement over the Sugar Bowl, and a piece on the continuing negative impacts of Katrina on ecotourism businesses
New Orleans City Business (12/11) has an article on the City's junk bond rating
Retail Traffic (Dec) includes articles on: 9 states restricting eminent domain post-Kelo; movie theaters returning to America's malls; Wal-Mart opening its first Canadian supercenters; progress on Nut Tree Village's redevelopment; Mills Corp. being hit by another lawsuit; the coming death of music stores; mall blogs; and a special supplementary article on the rise of mixed-use development; the regional feature is on the Northeast and includes articles on Stamford, Boston, New Haven, northern NJ, large-scale retail developments, and grocery stores
Urban Land (Nov-Dec) has pieces on: New Orleans on the anniversary of Katrina; 10 design cities "to watch" (Atlanta, Chicago, L.A., Miami, Minneapolis, NYC, San Francisco, Seattle, Portland, OR, and Kansas City, MO; architectural design in China; high-density design in Europe; historic preservation and reuse of old movie theaters and restaurants; Coney Island's arty subway station; the Indian market; state restrictions on Kelo; with a regional spotlight on PA
1/5/2007
San Fernando Valley Business Journal (12/18): NBC Universal/Universal City is courting public support for its major development plans; Newhall Land is preparing to submit its EIR for the Landmark Village residential mixed-use development along the Santa Clarita River
Indian Country Today (12/20) has a piece on the Seminole purchase of Hard Rock Cafe; and another on tribal sovereignty protecting businesses from employee suits
New Orleans City Business (12/18) includes a list of shopping centers arranged by GLA including centers not yet reopened
California Real Estate Journal (12/26) has a piece on the pending San Diego General Plan; "The Legacy" park/mixed use development is underway at Tustin MCAS
California Real Estate Journal (1/2) includes a significant piece on Grand Avenue requesting parking and hotel tax breaks; has the development updates for the state regions (San Diego, OC, IE, L.A., Sacramento, SF)
Orange County Business Journal (12/18) has the 2007 "preview" of tourism for the area in 2007
Los Angeles Business Journal (12/18) has a wonderful piece on fashion-forward space suit designing for space tourists; a feature on Magic Mountain remaining open after 6 Flags canceled plans to sell off properties; a piece on area hotel remodeling to include spas; and a data-heavy article on L.A. home prices
California Real Estate Journal (12/18) Garden Grove developing a 520-acre entertainment resort district along Harbor Blvd between Chapman and the garden Grove Freeway; a piece on the L.A. CRA making "Hollywood Central Park" a "priority" in their development plans; Coachella Valley trying to balance tourism and affordable housing with the environment
Business Week (12/18) has a feature on the Russian economy
Business Week (12/25) has a brief bit on the installation of "personal shoppers" at the nation's major airports to help travelers select the perfect gifts from airport retail offerings
National Real Estate Investor (Dec) features the 2007 hotel forecast; has a piece on private equity firms snapping up golf courses and resorts; has a city review of the Twin Cites and and international review of Budapest
Forbes (12/11) has a real estate feature piece on dorms and college residence developments; and a piece on Montenegro as the new Mediterranean hot sport for real estate
Indian Country Today (12/20) has a piece on the Seminole purchase of Hard Rock Cafe; and another on tribal sovereignty protecting businesses from employee suits
New Orleans City Business (12/18) includes a list of shopping centers arranged by GLA including centers not yet reopened
California Real Estate Journal (12/26) has a piece on the pending San Diego General Plan; "The Legacy" park/mixed use development is underway at Tustin MCAS
California Real Estate Journal (1/2) includes a significant piece on Grand Avenue requesting parking and hotel tax breaks; has the development updates for the state regions (San Diego, OC, IE, L.A., Sacramento, SF)
Orange County Business Journal (12/18) has the 2007 "preview" of tourism for the area in 2007
Los Angeles Business Journal (12/18) has a wonderful piece on fashion-forward space suit designing for space tourists; a feature on Magic Mountain remaining open after 6 Flags canceled plans to sell off properties; a piece on area hotel remodeling to include spas; and a data-heavy article on L.A. home prices
California Real Estate Journal (12/18) Garden Grove developing a 520-acre entertainment resort district along Harbor Blvd between Chapman and the garden Grove Freeway; a piece on the L.A. CRA making "Hollywood Central Park" a "priority" in their development plans; Coachella Valley trying to balance tourism and affordable housing with the environment
Business Week (12/18) has a feature on the Russian economy
Business Week (12/25) has a brief bit on the installation of "personal shoppers" at the nation's major airports to help travelers select the perfect gifts from airport retail offerings
National Real Estate Investor (Dec) features the 2007 hotel forecast; has a piece on private equity firms snapping up golf courses and resorts; has a city review of the Twin Cites and and international review of Budapest
Forbes (12/11) has a real estate feature piece on dorms and college residence developments; and a piece on Montenegro as the new Mediterranean hot sport for real estate
1/5/2007 Sacramento Railyard
The saga continues in the 12/30/2006 Sacramento Bee:
Railyard deal pulls into station
The developer closes escrow, and the city takes historic depot.
By Mary Lynne Vellinga - Bee Staff Writer
Published 12:00 am PST Saturday, December 30, 2006
"After a week of tension and last minute hold-ups, Georgia developer Thomas Enterprises closed escrow Friday on the downtown Sacramento railyard -- birthplace of the transcontinental railroad and centerpiece of the city's history.
At the same time, the city of Sacramento took ownership of the train station on I Street, a key piece of the region's rail transportation system since 1926.
...........
Negotiations with Omaha, Neb.-based Union Pacific proved difficult and complex until the end. The deal, scheduled to close Thursday, was delayed after a last-minute dispute over who would pay to move an underground pipe.
Plans for the 240-acre property -- now a contaminated Superfund site -- include a new transportation complex, a railroad technology museum and public market inside the historic shop buildings, plus 10,000 housing units, stores, offices and hotels.
A Bass Pro fishing outlet has signed a letter of intent to be the first retail tenant.
....
Crucial to closing the deal was $55 million from the city of Sacramento. That money
bought the city immediate control of the depot and eight surrounding acres.
Once a fair price is determined through negotiation and possible arbitration, the city will apply any money left over from the depot purchase to another 24 acres it plans to buy for a transportation complex serving trains, buses and light rail.
In addition to the city money, Thomas received a loan for about $16 million from Union Pacific, according to documents filed with the Sacramento County Recorder.
Deborah Pacyna, a spokeswoman for Thomas Enterprises, said those two sums did not equal the entire purchase price, however.
She stressed that Thomas Enterprises has already spent about $40 million on the railyard deal in planning and legal expenses.
The company also has promised to finish the toxic cleanup begun by Union Pacific, a task expected to take about two years. Totah would not say how much the remaining cleanup is expected to cost.
Decades of uncontrolled dumping of diesel fuel, heavy oil, battery acid and other chemicals into the ground in the once-bustling industrial complex left extensive groundwater and soil contamination. The groundwater is being pumped out and cleaned -- a process that will take many years, but won't affect development.
....
Transfer of the railyard to a private developer is a historic step in the redevelopment of one of the largest urban "infill" sites in the nation.
The problem of how to get things moving at the dormant yard has vexed politicians for years. The last crews in the rail shops, once the city's largest employer, punched out in 1999.
....."
For the entire article see: http://www.sacbee.com/245/v-print/story/100556.html
Railyard deal pulls into station
The developer closes escrow, and the city takes historic depot.
By Mary Lynne Vellinga - Bee Staff Writer
Published 12:00 am PST Saturday, December 30, 2006
"After a week of tension and last minute hold-ups, Georgia developer Thomas Enterprises closed escrow Friday on the downtown Sacramento railyard -- birthplace of the transcontinental railroad and centerpiece of the city's history.
At the same time, the city of Sacramento took ownership of the train station on I Street, a key piece of the region's rail transportation system since 1926.
...........
Negotiations with Omaha, Neb.-based Union Pacific proved difficult and complex until the end. The deal, scheduled to close Thursday, was delayed after a last-minute dispute over who would pay to move an underground pipe.
Plans for the 240-acre property -- now a contaminated Superfund site -- include a new transportation complex, a railroad technology museum and public market inside the historic shop buildings, plus 10,000 housing units, stores, offices and hotels.
A Bass Pro fishing outlet has signed a letter of intent to be the first retail tenant.
....
Crucial to closing the deal was $55 million from the city of Sacramento. That money
bought the city immediate control of the depot and eight surrounding acres.
Once a fair price is determined through negotiation and possible arbitration, the city will apply any money left over from the depot purchase to another 24 acres it plans to buy for a transportation complex serving trains, buses and light rail.
In addition to the city money, Thomas received a loan for about $16 million from Union Pacific, according to documents filed with the Sacramento County Recorder.
Deborah Pacyna, a spokeswoman for Thomas Enterprises, said those two sums did not equal the entire purchase price, however.
She stressed that Thomas Enterprises has already spent about $40 million on the railyard deal in planning and legal expenses.
The company also has promised to finish the toxic cleanup begun by Union Pacific, a task expected to take about two years. Totah would not say how much the remaining cleanup is expected to cost.
Decades of uncontrolled dumping of diesel fuel, heavy oil, battery acid and other chemicals into the ground in the once-bustling industrial complex left extensive groundwater and soil contamination. The groundwater is being pumped out and cleaned -- a process that will take many years, but won't affect development.
....
Transfer of the railyard to a private developer is a historic step in the redevelopment of one of the largest urban "infill" sites in the nation.
The problem of how to get things moving at the dormant yard has vexed politicians for years. The last crews in the rail shops, once the city's largest employer, punched out in 1999.
....."
For the entire article see: http://www.sacbee.com/245/v-print/story/100556.html
1/4/2007 Seminole/Hard Rock
from the South Florida Sun-Sentinel (1/3/2006)
Developer sues Seminoles, accuses tribe of rigging sale of Hard Rock empire
By John Holland
South Florida Sun-Sentinel
January 3, 2007
"The Seminole Tribe cut a secret deal guaranteeing it would win control of the Hard Rock Cafe empire at the expense of shareholders and potential bidders, according to a lawsuit filed by a rival suitor.
The Cordish Co., which built the tribe's lucrative casinos in Hollywood and Tampa, accuses the Seminoles of orchestrating a bid-rigging scheme in the months before buying the Hard Rock trademark, memorabilia and most of its properties for $965 million. Baltimore-based Cordish claims it would have paid substantially more but was blocked from bidding because the tribe conspired with some Hard Rock executives to discourage competition and keep the price low. ........
The suit, filed Friday in Broward Circuit Court, seeks triple damages that would likely reach hundreds of millions of dollars if it is successful, based on financial projections of future profits announced at the time of the Dec. 7 sale.
When Rank Group LLC of London, which is not named as a defendant in the suit, announced the sale of its Hard Rock Cafe International to the Seminoles, both sides hailed the deal as historic. For the first time, an American Indian tribe was expanding boldly into the international financial arena.
But financial analysts quickly questioned the price, with many saying the Rank Group could have made as much as $100 million more. Since the sale was announced, Rank's stock price has fallen almost 15 percent, according to the lawsuit. .......
Cordish, which negotiated the initial Hard Rock and tribe partnership, stands to make at least $1.5 billion over the course of its various agreements with the Seminoles, which run between 10 and 15 years. The tribe's profits are expected to top $17 billion over that period, both sides have said.
But that hasn't translated into a happy relationship. There are three lawsuits, plus countersuits, pending in state and federal courts stemming from the partnership, including one by Donald Trump claiming Cordish Co. and others stole his idea of building a Seminole casino hotel.
The latest lawsuit involves Rank Group's attempts to sell its Hard Rock group and streamline the company, which has significant holdings in the United Kingdom. According to letters and other correspondence attached to the lawsuit, Cordish and Power Plant set out to buy Hard Rock in August 2005, only to be told by Rank executives it wasn't for sale. .....
for the entire article see: http://www.sun-sentinel.com/news/local/southflorida/sfl-sseminole03jan03,0,6467768.story?coll=sfla-news-front
Developer sues Seminoles, accuses tribe of rigging sale of Hard Rock empire
By John Holland
South Florida Sun-Sentinel
January 3, 2007
"The Seminole Tribe cut a secret deal guaranteeing it would win control of the Hard Rock Cafe empire at the expense of shareholders and potential bidders, according to a lawsuit filed by a rival suitor.
The Cordish Co., which built the tribe's lucrative casinos in Hollywood and Tampa, accuses the Seminoles of orchestrating a bid-rigging scheme in the months before buying the Hard Rock trademark, memorabilia and most of its properties for $965 million. Baltimore-based Cordish claims it would have paid substantially more but was blocked from bidding because the tribe conspired with some Hard Rock executives to discourage competition and keep the price low. ........
The suit, filed Friday in Broward Circuit Court, seeks triple damages that would likely reach hundreds of millions of dollars if it is successful, based on financial projections of future profits announced at the time of the Dec. 7 sale.
When Rank Group LLC of London, which is not named as a defendant in the suit, announced the sale of its Hard Rock Cafe International to the Seminoles, both sides hailed the deal as historic. For the first time, an American Indian tribe was expanding boldly into the international financial arena.
But financial analysts quickly questioned the price, with many saying the Rank Group could have made as much as $100 million more. Since the sale was announced, Rank's stock price has fallen almost 15 percent, according to the lawsuit. .......
Cordish, which negotiated the initial Hard Rock and tribe partnership, stands to make at least $1.5 billion over the course of its various agreements with the Seminoles, which run between 10 and 15 years. The tribe's profits are expected to top $17 billion over that period, both sides have said.
But that hasn't translated into a happy relationship. There are three lawsuits, plus countersuits, pending in state and federal courts stemming from the partnership, including one by Donald Trump claiming Cordish Co. and others stole his idea of building a Seminole casino hotel.
The latest lawsuit involves Rank Group's attempts to sell its Hard Rock group and streamline the company, which has significant holdings in the United Kingdom. According to letters and other correspondence attached to the lawsuit, Cordish and Power Plant set out to buy Hard Rock in August 2005, only to be told by Rank executives it wasn't for sale. .....
for the entire article see: http://www.sun-sentinel.com/news/local/southflorida/sfl-sseminole03jan03,0,6467768.story?coll=sfla-news-front
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