Treasure Island IRFD Issues Tax Allocation Bonds
September 22, 2022
KMA recently assisted the City and County of San Francisco in what may be the first ever issuance of tax allocation bonds by an IFD. The Infrastructure and Revitalization Financing District No. 1 (Treasure Island) issued bonds to finance infrastructure and affordable housing costs of associated with the redevelopment of Treasure Island. KMA prepared the fiscal consultant report for inclusion in the official statement, incorporating a review of assessed values and a projection of revenues available for payment of debt service
Land Use Economics Job Opportunity - Associate and Intern (Berkeley Office)
September 19, 2022
We are seeking qualified candidates to join our team in the Berkeley office at the Associate and Intern levels. The ideal candidate will be an enthusiastic team player with a keen interest in land use economics, strong analytical mind,proficiency in Excel, and who is ready to engage in all areas of our work.
A detailed description of the employment opportunites and how to apply can be viewed at the link below. No phone calls, please.
Officials Celebrate the Groundbreaking of Gaylord Pacific Resort and Convention Center in Chula Vista
July 27, 2022
On July 27th, 2022 the long-awaited groundbreaking of the Gaylord Pacific Resort and Convention Center, the centerpiece of the Chula Vista Bayfront (CVB) project, was celebrated. Officials from the City of Chula Vista (City), the San Diego Unified Port District (Port) along with Rida Development Corporation and Marriott International (and KMA's Paul Marra and Linnie Gavino) were on hand for the highly anticipated event.
East Village Quarter Development Project Approved by San Diego City Council
June 17, 2022
Keyser Marston was retained by the City of San Diego to provide a financial analysis of a proposed real estate transaction with the San Diego Padres for a $1.5 billion development plan, the “East Village Quarter” project. Proposed by a development team led by the Padres (along with Tishman Speyer and Ascendant Capital Partners), the transaction involves the sale of city-owned property and a negotiated Development Agreement.
Grand Opening of Fairview Heights in Inglewood, CA
May 5, 2022
By Kimberly Heaton
On April 12, 2022, City officials celebrated the grand opening of a new 101-unit affordable, supportive housing development in Inglewood, developed by two Los Angeles County non-profits: Linc Housing and National CORE. Keyser Marston was retained by the City of Inglewood to perform a financial gap analysis for the development, the primary purpose of the analysis was to quantify the warranted amount of City funds that were necessary to ensure the project was financially feasible.
Changes to Carlsbad Inclusionary Housing Ordinance Approved
March 28, 2022
The Carlsbad City Council approved increases to the City’s inclusionary housing in-lieu fees during its March 22, 2022 meeting.
CityLine Sunnyvale Enters Exciting Third Phase of Development
February 1, 2022
By Kimberly Heaton
A critical economic development goal for the City of Sunnyvale has been to create a dynamic downtown, a place for civic pride. This long awaited goal is finally being realized as the development of CityLine Sunnyvale is transforming the formerly distresed Sunnyvale Town Center into a vibrant transit-oriented, mixed-use development in the downtown core. Recent construction updates reveal the project keeps hitting exciting milestones. On Jan. 27, 2022 Sunnyvale city leaders joined developer STC Venture, a joint venture between Hunter Storm and Sares Regis Group of Northern California, to break ground on the project's third phase- Block 3.
Palm City Village – TOD with Affordable Housing Moving Forward in San Diego
October 20, 2021
On October 14, 2021, the Metropolitan Transit System (MTS) Board approved a 390-unit affordable housing complex to be built on a four-acre parking lot at the Palm City Trolley Station in South San Diego. The Board voted to enter into Disposition and Development Agreements (DDAs) with two co-developers, National Community Renaissance of California (National CORE) and Malick Infill Development (MID). National CORE is proposing a 288-unit affordable rental project and MID plans a 102-unit middle -income rental project. The Project, dubbed Palm City Village, is a transit-oriented development that will also include a child care facility and outdoor recreation space.
Encinitas Approves Updates to Inclusionary Housing Program
September 7, 2021
The City of Encinitas recently approved updates to its Inclusionary Housing Program, based on recommendations outlined in KMA’s analyses.
With Opening of Beachfront Resort, Oceanside's Tourism Bonafides are Solidified
May 28, 2021
By Kimberly Heaton
The Mission Pacific Hotel and The Seabird Resort officially opened in May 2021, putting a stamp on the City's reputation as a tourism destination. Originally referred to as the Oceanside Beachfront Resort, the two adjacent hotels were developed by S.D. Malkin Properties (Developer) and are operated by Joie de Vivre and Destination Hotels, respectively. After years of planning, construction, and Covid-19 delays, the hotels are now open and are the largest newly constructed oceanfront development on the San Diego County coast in fifty years.
San Diego’s Complete Communities Advances with City Council Approval
December 7, 2020
On November 9, 2020, the San Diego City Council approved two primary components of the Complete Communities program, a package of development incentives designed to strengthen community development and improve housing affordability and quality of life. Housing Solutions and Mobility Choices are complementary planning strategies designed to incentivize development near transit while connecting San Diegans to convenient and safe transit options. KMA was engaged to evaluate the financial feasibility and fiscal impacts of implementing the two components.
Imperial Beach – Opening of the Hampton Inn & Suites
August 5, 2020
The City of Imperial Beach welcomed a new hotel on June 15, 2020 as the greatly anticipated 100-room "Beach Modern" Hampton Inn opened on a prominent site on State Route 75 at the entrance to the City’s downtown and beachfront communities. The final phase of the 4.75-acre Breakwater Town Center, the four-story Hilton-branded hotel located at 771 Palm Avenue includes a pool, fitness and business centers, free wi-fi and a breakfast/lounge area.
Advised by KMA, Escondido Adopts a Community Facility District (CFD)
July 31, 2020
The City of Escondido, in an ongoing effort to address projected budget shortfalls, adopted a resolution to form a Citywide Services Community Facilities District (CFD) on May 13, 2020. The goal of the CFD is to ensure that new residential developments do not negatively impact the City's General Fund.
KMA's Julie Romey Joins CAL-ALHFA Board
June 22, 2020
Julie Romey, a Senior Principal in KMA's Los Angeles office, has joined the CAL-ALHFA Board of Directors. CAL-ALHFA (California Association of Local Housing Finance Authorities) is a non-profit organization with a broad based membership including both public and private agencies which develop, finance, and administer programs to address affordable housing throughout the State of California.
Vallco Town Center Wins Legal Battle
May 8, 2020
By Kimberly Heaton
On Wednesday May 6th, a Santa Clara Superior Judge upheld the City of Cupertino's September 2018 approval of the Vallco Town Center, concluding the project proposed by Sand Hill Property Company is in conformance with SB 35 guidelines and therefore eligible to proceed. SB 35 is part of a landmark package of housing bills enacted in 2017 to address the affordable housing shortage in California. SB 35 facilitates the expedited development of eligible projects, and the court ruling allows the redevelopment of the former Vallco Mall to move forward.
