Arent Fox Bay Area Land News - July 12, 2016
News you can 'dig' covering national, California, Bay Area, San Francisco, South Bay, Peninsula, and East Bay headlines.
Global/US/California/Bay Area News
SFGate
Brexit vote roils London real estate market
The market has been inflated for years by economic growth and speculation, including by foreign investors looking for a piece of the wealth and stability of London. Now Britain's vote to leave the EU has raised concerns about an economic downturn as well as the possibility that some companies might have to move business to mainland Europe to retain access to the EU's single market.
To read the full article, click here.
San Francisco Chronicle
Bay Area property tax assessments on a roll
Thanks mainly to rising property values and new construction, county assessment rolls — and therefore property tax revenue — have risen 6 to 9 percent in most Bay Area counties this year.
To read the full article, click here.
San Francisco Business Times
Editorial: Blaming tech industry for housing woes misses the point
Far from seeking to lower the volume on such demonization, as one might expect responsible public officials to do, there is as of this week an attempt instead to codify it into law.
To read the full article, click here.
Bisnow
3 ways tech will inadvertently impact commercial real estate
Technology has turned the commercial real estate industry on its ear. Though many perceive it to be the harbinger of death—particularly where retail is concerned—no single change has had a greater impact on the use of and investment in commercial real estate than technology.
To read the full article, click here.
San Francisco Chronicle
Sound Off: Brexit potential affect on Bay Area real estate
Britain’s decision to leave the European Union (a.k.a Brexit) has affected many assets like government bonds, gold and the stock market. But for us here in the Bay Area, the most important question is what will be Brexit’s effect on Bay Area real estate prices.
To read the full article, click here.
San Francisco Business Times
Why almost 90% of Bay Area tech workers polled plan to leave their jobs
High cost of living and constrained housing supply in the Bay Area may heighten the appeal of cities like Seattle, Portland, Austin or Madison, Wisc., all of which rank in the top 10 best-paying cities for software engineers.
To read the full article, click here.
Curbed LA
Developer of South LA’s 'wildly-out-of-character' high-rise hit with lawsuit
The suit asks the judge for an injunction to halt the tower's construction, arguing it violates the city charter and the California Environmental Quality Act, which requires cities to assess and mitigate a development's impact on the surrounding area, including on traffic and transportation.
To read the full article, click here.
San Francisco Business Times
Tired of BART hassles? Check out this new water taxi commute
Late last year, Tideline put a survey on their website to gauge interest in a possible commuter route from the East Bay to San Francisco. The response was overwhelming.
To read the full article, click here.
San Francisco Business Times
Lyft debuts new high-end rides for business users
This isn't the first time Lyft has attempted a premium service model. Its first iteration of Lyft Plus, a feature that connects riders with SUVs with six seats, was marketed as a luxury service, but never caught on.
To read the full article, click here.
San Francisco News
San Francisco Chronicle
More tech workers driving solo after SF cuts shuttle stops
The large buses that shuttle technology employees between San Francisco and their Silicon Valley workplaces have become a political flash point. Bowing to residents’ outcries, San Francisco recently cut the number of places that buses can stop in the Mission District and other popular neighborhoods.
To read the full article, click here.
San Francisco Business Times
Build Inc.'s founder dishes on why new development actually helps S.F.
BUILD is one of San Francisco’s multi-family housing developers. From its launch in 2004, the company has been guided by the idea that smart development can be a catalyst for positive urban change.
To read the full article, click here.
San Francisco Business Times
With headquarters lease expiring, will Charles Schwab stay in San Francisco?
Charles Schwab said it wants to stay in its current location and will definitely remain headquartered in the Bay Area, but it is now considering other options outside the city amid San Francisco's pricey office market.
To read the full article, click here.
San Francisco Business Times
Proposed office space cap exemption for Hunters Point gets enough signatures for ballot
The supporters of the Jobs, Housing and Parks NOW initiative said they had submitted 17,691 signatures to the San Francisco Department of Elections to allow voters to decide whether to exempt the former Navy base from the original cap, dubbed Proposition M, in a bid to attract larger employers and make it a more competitive site.
To read the full article, click here.
San Francisco Chronicle
SF Tennis Club, developer reach deal on site development
The developer of the San Francisco Tennis Club property South of Market has agreed to build 12 new underground tennis courts and invest money into public recreation facilities in a last-minute deal with club members to prevent a ballot fight in November.
To read the full article, click here.
South Bay News
San Jose Mercury News
Santa Clara County: Property values continue to soar
About half of the $31 billion increase in value came from properties changing hands, and the resulting reassessment. About $7 billion came from new construction, with 85 percent of that being commercial and industrial development.
To read the full article, click here.
Peninsula News
The Almanac
Menlo Park: Study on displacement of residents raises eyebrows
The displacement study was informational only, and won't have legal grounding to affect the city's approval for Facebook's project.
To read the full article, click here.
San Jose Mercury News
Hills at Vallco: Cupertino preview gives details of green roof
Questions from the community regarding the green roof spanned from water use, its landscaping, its amenities and how the project would hold up to an earthquake. Attendees were curious about the logistics behind the roof.
To read the full article, click here.
The Almanac
Menlo Park says 'no thanks' to state affordable housing bill
Menlo Park "agrees that California is facing a housing affordability crisis; however, this is not the solution."
To read the full article, click here.
Mountain View Voice
Mayor pitches plan for alternate rent control measure
The special meeting is scheduled for 7:30 p.m. on July 14 at the Second Stage theater at the Mountain View Center for Performing Arts at 500 Castro St.
To read the full article, click here.
The Almanac
Atherton council: Lewis and Wiest say they will run for re-election
Both candidates say they are in the middle of several significant projects in Atherton, including a new civic center, that they want to see through completion.
To read the full article, click here.
Palo Alto Online
To get more affordable housing, Palo Alto may charge developers stiff fees
In their latest attempt to address the city's worsening housing crisis, Palo Alto officials are preparing to sharply raise -- and in some cases, triple -- the fees that developers are required to contribute to the city's affordable-housing program.
To read the full article, click here.
The Almanac
Menlo Park: Planning Commission met last night on general plan
Talks about possible general plan changes that could shape how Menlo Park's eastern side develops between now and 2040 are scheduled for much of the evening tonight (July 11).
To read the full article, click here.
East Bay News
San Francisco Business Times
Oakland, taking page from S.F., moves ahead on regulating Airbnb
Citing the increase in tourism and major conventions coming to Oakland in recent years, as well as the strain on the city's affordable housing stock, City Council members are directing the Planning and Building Department and the City Planning Commission to bring an ordinance forward within six months to regulate and tax the use of short-term rental platforms.
To read the full article, click here.
San Francisco Business Times
Map: Oakland's tower pipeline booms with 4,500 units planned
Residential towers haven't been completed in Oakland since 2008, when 100 Grand Ave was built, and the high cost of labor and requirement of more expensive materials such as concrete makes highrises pricier than mid-rise projects, which can be built with mostly wood.
To read the full article, click here.
San Francisco Chronicle
Berkeley’s approval of demolition increases worries over rent
A soon-to-be demolished apartment building in Berkeley has become a lightning rod for debate over skyrocketing rents in the area, as some residents worry that bulldozing rent-controlled units will make the neighborhood even less affordable.
To read the full article, click here.