Arent Fox Bay Area Land News - December 6, 2016
News you can dig:
US/California/Bay Area News
San Francisco Business Times
High housing costs spark Bay Area economic cooldown
“The influx of highly educated professionals has been a primary driver of growth, but as the rising cost of living in the area chips away at wage advantages, net migration is expected to dramatically decline over the next few years,” Beacon Economics said.
To read the full article, click here.
San Francisco Chronicle
New California housing laws make granny units easier to build
The new laws won’t come close to filling the Bay Area’s housing needs. But they could create options for middle-income renters who don’t qualify for below-market-rate housing and can’t afford a market-rate apartment.
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San Francisco Business Times
Are private investments the best way to solve the Bay Area's infrastructure crisis?
California is plagued with energy, water and transportation infrastructure problems, and California Policy Center says private investments may be the solution.
To read the full article, click here. [subscription required]
San Francisco Chronicle
Bay Area home sales fall, but prices rise
The median price paid for all homes sold in the nine-county Bay Area in October was $675,000, according to a CoreLogic report released Wednesday. That was up 3.8 percent from the previous month and up 6.1 percent year over year. The data include new and existing homes and condos that closed in October.
To read the full article, click here.
San Francisco Business Times
Calif. changes rules for commercial property lease forms
All commercial property owners or lessors in California must change their lease forms and rental agreements to include new mandatory language and disclosures for leases that are executed on or after Jan. 1, 2017.
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San Francisco Chronicle
Editorial: Marijuana industry’s unseen workforce: the ‘trimmigrants’
Known as “trimmigrants” because they’ve immigrated from other countries, they belong to a global culture of marijuana, though in every country local customs obtain. In Mexico, pot is often called mota. In Jamaica, it’s ganja. In Europe, it’s usually mixed with tobacco. In Kolkata, formerly known as Calcutta, India, they smoke it in a clay pipe.
To read the full article, click here.
New York Times
Airbnb Ends Fight With New York City Over Fines
Airbnb on Friday agreed that it would drop the suit as long as New York City enforces the new law only against hosts and does not fine Airbnb. The settlement takes effect on Monday.
To read the full article, click here.
Curbed LA
LA Conservancy sues city over Frank Gehry’s Sunset Strip project
To make way for the new development, called 8150 Sunset, Gehry plans to demolish a Kurt Meyer-designed Chase bank building that the conservancy says, “exemplifies a transformative shift in bank design after World War II.”
To read the full article, click here.
San Francisco News
San Francisco Business Times
New wave of tech leases boosts S.F. office market
The personal finance firm NerdWallet has subleased 150,000 square feet from Twitter Inc., after the struggling social media company vacated the space at 1355 Market St. starting in August.
To read the full article, click here.
San Francisco Business Times
VIDEO: New Warriors arena deal throws an alley-oop to tech
The franchise inked a multi-year, seven-figure deal with Accenture PLC to be the "official technology innovation partner," starting at Oracle Arena in Oakland and leading to Chase Center in San Francisco, which is expected to open in time for the tipoff of the 2019-20 season.
To read the full article, click here.
San Francisco Chronicle
SF supes panel OKs boosting tenants’ choice in Internet providers
“I don’t support backdoor ways to deny tenants access to service providers here in San Francisco,” Farrell said. “Our government should be doing everything in its power to increase Internet access across our city.”
To read the full article, click here.
SF Gate
S.F. lost almost $450 million in revenue last year thanks to Prop. 13
The study found that homeowners in affluent coastal cities, like San Francisco, save the most—both because of higher home appreciation and because residents in these areas tend to hold their houses for long periods of time, which brings on the most savings.
To read the full article, click here.
San Francisco Business Times
San Francisco gears up for final push to lure George Lucas museum
Both San Francisco and Los Angeles have until the next two weeks to submit a final offer to Lucas' museum team, which will in turn make a decision by January 6.
To read the full article, click here.
San Francisco Chronicle
Ed Lee hoping to cut some ribbons for legacy projects
If the stars line up, Mayor Ed Lee could break ground within months on the two signature projects for which he hopes to be remembered — the Warriors’ arena in Mission Bay and the Lucas Museum of Narrative Art on Treasure Island.
To read the full article, click here.
San Francisco Examiner
Mayor Lee expected to wait until January to appoint new supervisor
If the mayor waits until Jan. 8, whomever he appoints could serve a maximum of 10 years in office – the remainder of Wiener’s term plus two four-year terms – under city charter rules. Otherwise, the person would only be allowed to serve up to six years.
To read the full article, click here.
San Francisco Chronicle
Budget projections show deficits rising in S.F.
The booming center of tech and tourism isn’t quite so booming these days, and new budget projections show the city’s books over the next five years are out of whack to the tune of $848 million.
To read the full article, click here.
South Bay News
Mercury News
LinkedIn opens building company says is ‘net zero energy’
The 40,000-square-foot building generates renewable energy onsite to power all of its energy needs including light, heat, cooling and appliances. The building has 778 solar panels, 20 skylights, LEDs with sensors and 16 electric vehicle charging stations with cords long enough to reach adjacent parking spaces.
To read the full article, click here.
Silicon Valley Business Journal
What's the future of Cambrian Park Plaza? Developer submits preliminary plan
Weingarten's preferred redevelopment plan calls for up to 180,000 square feet for hotel or office space, 87,000 square feet of retail, around 222 apartments and townhomes, and a 100,000 square-foot assisted senior living home.
To read the full article, click here.
Peninsula News
Wall Street Journal
Facebook to Give $20 Million to Bay Area Community for Affordable Housing, Job Training
Facebook’s decision to begin funneling tens of millions of dollars to create housing in local communities underscores the growing pressure on these companies to help tackle housing affordability, an issue that also is beginning to make it difficult to recruit employees.
To read the full article, click here.
Mountain View Voice
Google veers from city's North Bayshore vision
A review of the city's precise plan on Tuesday, Nov. 29, left some council members second-guessing this vision and wondering if they were asking too much of one of the world's wealthiest companies.
To read the full article, click here.
Silicon Valley Business Journal
Palo Alto homeowners pay lowest effective property tax in state, report says
Californians originally passed Prop. 13 back in 1978 with a nearly two-third majority. The ballot initiative slashed property taxes for landowners by 57 percent and froze property tax value to the 1976 levels.
To read the full article, click here.
Palo Alto Online
Edgewood Plaza developer: City fines are not 'warranted'
A Nov. 21 letter from Sandhill Property Company's attorney to the city requests an independent hearing to challenge the "validity" and "legality" of the fines, as well as to seek relief for all payments that have already been made to the city.
To read the full article, click here.
San Francisco Business Times
Massive Burlingame office development proposed near SFO
Fox Bayshore Investments LLP, which owns six acres at 1300 Bayshore Highway, is seeking to redevelop the site of a former Hyatt Cinema that closed its doors back in 2007. The project – known as the SFO Technology Center – will consist of two mixed-use office buildings, one nine-story and one eight-story structure.
To read the full article, click here. [subscription required]
East Bay News
San Francisco Business Times
Emeryville's first hotel in decades opens
The $37 million Hyatt Place Hotel next to the Bay Street mall is Emeryville's first new hotel in years.
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San Francisco Business Times
Oakland fire underscores challenges in building code enforcement
It occurred at an electronic music party in a warehouse at 1305 31st Ave. that was zoned for industrial use. But multiple reports stated that residents were living in lofts and recreational vehicles within the building without proper residential permits. The building lacked sprinklers and had only two exits.
To read the full article, click here. [subscription required]