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The Current

  • ‘Higher-income buyers are still very active’ as San Diego leads U.S. in home price gains for 4th month

    ‘Higher-income buyers are still very active’ as San Diego leads U.S. in home price gains for 4th month,Phillip Molnar

    San Diego had the fastest rising home prices in the nation for a fourth month — an increase of nearly double the U.S. average. The San Diego metropolitan area’s annual home price increased 11.1 percent annually in March, according to the S&P Case-Shiller Indices report released Tuesday. It was follo

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  • Chula Vista’s latest home project has homes starting at $550K. It’s also close to a landfill.

    Chula Vista’s latest home project has homes starting at $550K. It’s also close to a landfill.,Phillip Molnar

    Chula Vista’s latest residential development, which has some of the lowest prices for new homes in the region, was only possible after a zoning change.There are 718 homes at Sunbow, a new project from Miami-based Lennar in Chula Vista’s Otay Ranch. It is a mix of townhouses and condos, ranging from

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  • The high-flying Dow Jones stock index: Good or bad for California?

    The high-flying Dow Jones stock index: Good or bad for California?,Jonathan Lansner

    The stock market’s venerable yardstick, the Dow Jones Industrial Average, recently made history — crossing 40,000 for the first time.Yes, this milestone set on May 16, is only a brief emotional victory for shareholders. Yet it can be seen as a historical milepost for the broader business climate, es

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  • 18 things all HOA members should know

    18 things all HOA members should know,Kelly G. Richardson

    One in a series of columns on boards, homeowners, managers, vendors and HOA lawyers.HOA living involves a trade-off of independence in exchange for the benefits the HOA provides. Someone unwilling to trust others to make decisions and who must personally make all decisions is probably not cut out fo

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  • San Diego’s life science industry has a new challenge: Too much space

    San Diego’s life science industry has a new challenge: Too much space,Natallie Rocha

    San Diego’s world-renowned life science cluster broke a new record at the start of the year: The vacancy rate for lab and office spaces hit 14 percent — an all-time high.Three years ago, businesses were fighting for space in San Diego’s main life science hubs like Sorrento Valley, La Jolla and Del M

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  • Fashion Valley mall to replace JCPenney with 850 apartments

    Fashion Valley mall to replace JCPenney with 850 apartments,Jennifer Van Grove

    One of San Diego’s flagship shopping destinations is stepping into the next generation of retail with plans to remake an anchor space into an upscale apartment community.Simon Property Group announced earlier this week that it will redo the west end of Fashion Valley with 850 luxury residential unit

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  • Did San Diego City Council make the right call increasing developer fees?

    Did San Diego City Council make the right call increasing developer fees?,Phillip Molnar

    The San Diego City Council recently voted to raise developer fees to cover additional city workers, new technology and other efforts.Critics argued the fees would only make housing less affordable and complained permitting has long delays, as well as suggesting the increased fees should come with in

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  • San Diego council members agree to move forward with affordable housing plans on former luxury hotel site

    San Diego council members agree to move forward with affordable housing plans on former luxury hotel site,Lori Weisberg

    San Diego’s elected leaders agreed Wednesday that the city should move toward securing a formal agreement with local developer Chelsea Investment Corp. to build more than 400 units of affordable housing on an East Village block once destined for a luxury hotel.Members of the City Council’s Economic

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  • San Diego will sublet space in Mission Valley as part of plan to vacate downtown operations building

    San Diego will sublet space in Mission Valley as part of plan to vacate downtown operations building,Jennifer Van Grove

    Eager to exit its failing downtown operations building, the city of San Diego has agreed to lease the entirety of an empty office building in Mission Valley and will move a portion of its development services department to the facility later this year.Monday, San Diego City Councilmembers voted 8-1

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  • 13 things all HOA directors should know

    13 things all HOA directors should know,Kelly G. Richardson

    This is the first of five installments that will address boards, homeowners, managers, vendors and HOA lawyers.Governance1. HOA governance is a team sport. It’s different from our career jobs because the board legally controls the HOA, not the president. The president is not the boss but mainly is t

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  • Plan to build hundreds of low-income housing units on former Ritz-Carlton site in downtown San Diego reaches critical milestone

    Plan to build hundreds of low-income housing units on former Ritz-Carlton site in downtown San Diego reaches critical milestone,Lori Weisberg

    An ambitious plan by a local affordable housing developer to build more than 400 low-income units in downtown San Diego has reached a key milestone that will allow the city to start negotiating terms for redeveloping a site once intended for a five-star Ritz-Carlton hotel.The city’s Economic Develop

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  • A Modernist Gem In Pasadena, $2.6M

    A Modernist Gem In Pasadena, $2.6M,Philip Ferrato

    If you’re looking for a 3-bed, 2.5-bath house with flexible multi-level spaces, beautiful details set in a sophisticated design language that reaches back to the glory days of Modernism in Los Angeles, look no further than this exceptional property from Corsini Stark Architects. Known as the Callow

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  • Jason Hughes, broker in 101 Ash St. deal, wins bid to stop his license from being revoked

    Jason Hughes, broker in 101 Ash St. deal, wins bid to stop his license from being revoked,Jeff McDonald

    A Superior Court judge has blocked the California Department of Real Estate from revoking the license of the broker who advised San Diego city officials to lease a downtown high-rise, then pocketed millions from the deal.Real estate adviser Jason Hughes won a stay of that planned penalty at a hearin

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  • Why so many people have stopped buying vacation rental homes in San Diego

    Why so many people have stopped buying vacation rental homes in San Diego,Phillip Molnar

    Interest rates and home prices are so high in San Diego that even vacation rental buyers have fled.Mortgages for second homes in San Diego metro, typically a good indicator of vacation rental purchases, were down 45 percent in 2023, said a new study from real estate website Redfin and data analytics

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  • Where in California have wages trailed rent hikes the most?

    Where in California have wages trailed rent hikes the most?,Jonathan Lansner

    The pain: Rent hikes outpaced pay raises in 44 of 50 big U.S. metropolitan areas during the past four years — and in four of six metros from California in this study.The source: My trusty spreadsheet reviewed Zillow’s analysis of the growth in rents vs. increases in average hourly earnings between 2

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  • Did HOA board go through the correct process to change rules?

    Did HOA board go through the correct process to change rules?,Kelly G. Richardson

    Q: If the board decides to change any rules shouldn’t those rule changes be placed on the open general session board meeting agenda for discussion and vote of the board members before being sent out for the 28-day comment period? Is it a violation to make this decision in executive session, without

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  • Construction paused on mega Riverwalk project in Mission Valley

    Construction paused on mega Riverwalk project in Mission Valley,Jennifer Van Grove

    The cacophony of construction activity at the sprawling Riverwalk project site that follows Friars Road just west of Fashion Valley mall has been replaced with nothingness as the promise of nearly a thousand homes is suspended until market conditions improve.After completing $90 million worth of inf

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  • A John Maniscalco House In Eureka Heights, $7M

    A John Maniscalco House In Eureka Heights, $7M,Philip Ferrato

    Known for his sleekly Modernist style (inflected with a dash of Italian Rationalism from the 1930s) John Maniscalco has become one of the Bay Area’s most in-demand architects. His eponymous firm has created beautifully conceived and detailed residences from the Peninsula to Marin County, the Wine Co

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  • Report: 80 percent of low-income San Diegans spending more than half their income on rent

    Report: 80 percent of low-income San Diegans spending more than half their income on rent,Phillip Molnar

    The vast majority of low-income renters in San Diego County are spending more than half of their income on rent, said a new study. San Diego’s Affordable Housing Needs Report, released Thursday by the nonprofit California Housing Partnership, gave the region poor marks across the board for everythin

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  • An entire California town is for sale – again. This time for $6.6M

    An entire California town is for sale – again. This time for $6.6M,Phillip Molnar

    Nearly all of Campo has been for sale since 2019 — without a buyer in sight. Now, a new real estate team has taken over the task of selling almost the entire unincorporated community, which is a little more than an hour from San Diego. The sale would include 28 buildings, a mix of former Army barrac

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