News
Coming Soon to the CBD
December 11, 2012
| Bisnow's first event in San Diego could really only have one topic: The Future of Downtown. The local execs on our panel will certainly influence that, but so will the government—the other dance partner in PPPs. Here's coverage, with video from our friends at Allen Matkins. |
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| Allen Matkins partner Dana Schiffman peppered our panelists with questions: What projects might be happening in the next 12 to 36 months? Where will capital be available? Where has lending yet to emerge? What will be the new model for public-private partnerships post-RDAs? |
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| Douglas Wilson Cos chairman Doug Wilson says if you knew the CCDC handbook you could implement it, but this is new, uncharted territory. Until developers know what public-private partnerships and capital structures look like in the future, they'll have to be creative and entrepreneurial when working through those issues. But he does see a reemergence of capital. Video. |
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| To OliverMcMillan SVP Jim Reynolds, it feels like 2006—there's no standing inventory of previously built condos and most of the major parcels are spoken for. Land values have doubled in the past six months. Developers haven?t been able to justify building high-rises, but with everything full and rents going up, he expects to see some new projects in downtown San Diego. Video. |
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| Dealy Development CEO Perry Dealy is seeing demand start to build up slowly, carefully, and in strategic locations; project economics are the trigger. With hotel RevPAR improving, a number of projects are in the pipeline—he's involved with four himself and knows of several more getting under way within two years, once funding is available. Video. |
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| According to Cushman & Wakefield's Bill Shrader, a switch flipped in retail over the past nine months. Tenants were back in the market and deals were happening—not so much soft goods retailers as the bars and restaurants that help to support the big projects coming into the East Village. It's still a bit sketchy because there isn't the critical mass yet, but that's going to come. Video. |
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| I.D.E.A. Partners principal Pete Garcia says what downtown needs is an 800-pound gorilla anchor tenant in the tech sector, which ?will make a statement that downtown is where it's at.? (Did he say gorilla or googlerilla?) He notes San Diego is in an international competition for talent to drive prosperity, and it starts by having place-making that attracts highly educated, creative people. Video. |
