Socal Multiunit Real Estate

MAYOR VILLARAIGOSA’S 30/10 INITIATIVE WILL BRING MORE HOUSING OPPORTUNITIES TO LOS ANGELES

By Jodi Summers

What causes the most pollution in Los Angeles? Vehichles. How do we solve that issue? Better mass transit. Mayor Antonio Villaraigosa’s latest solution for greening Los Angeles is the 30/10 initiative - the mass transit financing method that the mayor proposed to the federal government so that Los Angeles can build their 30-year mass transit model in 10 years’ time.

Montiel believes that the 30/10 initiative can transform public housing by creating projects such as Jordan Downs, a 700-unit, 103-building public housing apartment complex in Watts, and one of 14 sites citywide that have potential for improvement through transit-oriented and vertical development.

The 30/10 proposal would allow Metro to construct the full Westside extension, but also two easterly extensions of the Gold Line, two new branches for the Green Line, several busways in San Fernando Valley, a link along I-405, and new light rail lines downtown, along Crenshaw Boulevard, to Santa Monica, and via the West Santa Ana branch corridor. The West Santa Ana branch corridor would be served by commuter rail. All by 2020. Green multiunit complexes would dot the new transportation lines.

“We are trying to define density not as a bad word, but as a word that can have elegance to it, and be green, and be smart,” the mayor said. “Yet the city needs to change even more, and the 30/10 plan is one of the routes to that change.”

The 30/10 proposal that went to Washington looks something like this:

o Current long-range transportation plan assumes $18.3 billion in transit expenditures over 30 years. 65% of funds would come from Measure R, with 23% from New Starts and 12% from other sources.

o The 30/10 Initiative would allow total expenditures to be reduced to $14.7 billion because of avoided inflation, since projects would be completed in ten years, twenty years ahead of schedule. More cost savings could also be possible because of a cheaper construction market.

o Of that $14.7 billion, $5.8 billion is expected to be available from existing sources, with around $8.8 billion still necessary, which could be provided through a loan from the federal government.

o Measure R would then pay back its $8.8 billion in debts for projects completed between 2010 and 2020 with $10.4 billion in tax revenue received between 2020 and 2040.

In Washington, Mayor Villiarigosa got support Oregon Democratic Representative Peter DeFazio, who chairs the House Subcommittee on Highways and Transit. California Democratic Senator Barbara Boxer also supports the effort. Secretary of Transportation Ray LaHood signaled that he was open to the opportunity in a meeting in Los Angeles

“Four years ago, when I talked about the subway to the sea, people laughed,”

Villaraigosa recalls. “But we are going to build it. All of these transit plans will happen.”

Initiatives like the 30/10 plan are part of a way of thinking that cities must pursue in order to remain successful, the mayor concludes. “Continue to think through what cities need to do to be more sustainable, to develop their assets, and to leverage the many important components of what a livable city should be like.”

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http://www.laedc.org/businessscan/index.html

http://www.globest.com/newspics/la_urbanmarketplacepanel.jpg

http://www.thetransportpolitic.com/2010/03/01/how-feasible-is-antonio-villaraigosas-3010-gambit-for-los-angeles-transit/

http://la.streetsblog.org/2010/04/22/3010-survives-the-metro-board-of-directors/

http://articles.latimes.com/2010/feb/26/opinion/la-oe-rutten27-2010feb27

http://www.globest.com/news/1622_1622/losangeles/184054-1.html

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MALIBU GOES GREEN UNDER PRESSURE

MALIBU GOES GREEN UNDER PRESSURE

By Jodi Summers

Malibu should be ashamed of itself, acting like conservation is not for the wealthy. Santa Monica has been heavily into the green movement for years – aiming to become a net zero city, Our mother city, Los Angeles, is very motivated to become one of the greenest cities. Meantime the gilded village of Malibu is only turning green because of upcoming deadlines for compliance with state-mandated sustainable development standards.

Under pressure by state mandates, Malibu is finally getting around to developing a sustainable development program. This comes more than a year after the City of L.A.’s green building ordinance to reduce the City’s carbon emissions by more than 80,000 tons by 2012. Motivated only by state regulation, Malibu is planning to require larger projects to be LEED certified. Money is green; Malibu will get the hang of it.

Grudgingly, in late summer, Malibu began to comply with mandated standards addressing water use for landscape irrigation. Additionally the fabled city on PCH will comply with other statewide requirements, such as weather-proofing, formaldehyde content in wood products, air conditioning refrigerants, and outside air ventilation, not to mention finally getting collection areas for recyclables. (Hello! If that’s an issue for you guys, just bring in some homeless, and they’ll recycle for you.)

As Malibu has been so late to get on board the green bandwagon, the city is panicking about meeting residential construction standards effective Jan. 1, 2011, benchmarks that are already in place in neighboring Santa Monica, Beverly Hills, West Hollywood and Los Angeles.

The January 2011 requirements call for sediment and runoff protection from construction sites; diversion of at least 50% of construction waste; low or no use of volatile organic compounds such as indoor adhesives, paints and coatings; low formaldehyde indoor finish materials.

Looking further forward, as of July 1, 2011, residential construction projects will be required to be more water efficient – insisting on a 20 percent reduction in indoor water use.

Not to be berated for being totally arrogant and antiquated, Malibu does already have mandates in place for water conservation landscaping – though some city residents are insisting that is not enforced.

“I think our biggest problem is water in Malibu,” planning Commissioner Regan Schaar noted, more than a year after Governor Arnold Schwarzenegger declared a statewide drought. “The issue of people submitting plans [development applications] without any landscaping plans is a way for them to get around the issue. We need to put landscaping plans in place and make sure they’re low water usage.”

Malibu has been an ostrich, hiding its proverbial head in the sand while other local cities have been proactive on conservation measures. Lifestyles of the rich and infamous.

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http://www.malibutimes.com/articles/2009/06/10/news/news3.txt

http://pleinlesyeux2.ifrance.com/ocean/inside%20out,%20baja%20malibu.jpg

http://www.socalgreenrealestateblog.com/?p=75

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http://www.triyoga.com/Galleries/images/malibu_point1.jpg

http://www.parks.ca.gov/pages/835/images/malibu_sportfishing_pier_sign.jpg

http://www.beaumondevillas.com/images/cities-malibu.jpg

http://www.imagekandi.com/photo/images/Malibu-Beach-Houses.jpg

http://www.destination360.com/north-america/us/california/images/s/malibu-beaches.jpg

http://www.city-data.com/picfilesv/picv7812.php

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REGISTER YOUR CELL PHONE ON THE DO NOT CALL LIST

REGISTER YOUR CELL PHONE ON THE DO NOT CALL LIST

By Jodi Summers

Cell Phone Numbers Go Public this month….meaning cell phone numbers are being released to telemarketing companies and you will start to receive annoying sales calls on your cell phone…and YOU WILL BE CHARGED FOR THESE CALLS.

To prevent this, call the National DO NOT CALL list number from you cell phone. That number is - 888-382-1222.

Registering will block your number for five (5) years.

FYI - You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.

CALIFORNIA’S GREENEST CITIES

CALIFORNIA’S GREENEST CITIES

IT’S A BIG-TIME BUYER’S MARKET FOR SANTA MONICA MULTIUNIT REAL ESTATE

IT’S A BIG-TIME BUYER’S MARKET FOR SANTA MONICA MULTIUNIT REAL ESTATE

by Jodi Summers

If you’ve been thinking about buying multiunits in Santa Monica, now is the time. It is a buyer’s market and there are great deals to be had.

Check out this two-year market snapshot showing the trends of Supply vs. Demand chart for residential income properties in Santa Monica. Notice that the number of multiunit properties for sale has dropped by 6% - there are now 58 multiunit properties on the market, while sales remain flat – three multiunit buildings sold in Santa Monica in September.

The government, in the form of Fannie Mae and Freddie Mac, now hold $194.62 billion of mortgages, all of which are backed by multifamily or healthcare properties, and mortgage pools guaranteed by the two hold another $157.25 billion of loans, for a total of $351.87 billion of mortgages.

When you add the mortgages held by federal, state and local governments to the agencies’ total, the volume of loans held by governments and their agencies balloons to $517.3 billion, a full 15% of the entire commercial mortgage universe. Scary thoughts for Halloween month.

Has your real estate market stabilized? Email jodi@jodisummers.com to receive a free market report for your LA county neighborhood.

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http://www.clarusresource.com/

IF YOU WANT A HOME THAT ALLOWS AN ACTIVE LIFESTYLE, CHECK OUT WALKSCORE.COM

IF YOU WANT A HOME THAT ALLOWS AN ACTIVE LIFESTYLE, CHECK OUT WALKSCORE.COM

by Jodi Summers

We love a city like Santa Monica because there is so much to do. If you are looking for a vibrant location to live with lots to do within walking distance? Then be sure to check out http://www.walkscore.com/

Walk Score http://www.walkscore.com/ helps people find houses and apartments in walkable neighborhoods. Walk Score shows you a map of what’s nearby and calculates a Walk Score for any property. Living in a walkable neighborhood is good for the environment and good for your health.

Walk Score looks at the distance to walkable locations near an address, calculates a score for each location, and combines all of the scores into a single measurement. Lerner said research shows that the average person is willing to walk less than a quarter mile to destinations they visit frequently, such as a grocery store.

A Walk Score of 25 or less means you’ll probably need to get in the car to take care of the smallest errand, while a Walk Score in the 90 to 100 range indicates a “walker’s paradise” where just about everything is in walking distance and many residents get by without owning a car.

WHAT WE SPEND ON HOUSING AND TRANSPORTATION

By Jodi Summers

Secretary Shaun Donovan U.S. Department of Housing and Urban Development recently presented a report called “Livable Communities, Transit Oriented Development, and Incorporating Green Building Practices into Federal Housing and Transportation Policy” to the Subcommittee on Transportation, Housing and Urban Development, and Related Agencies Committee on Appropriations United States House of Representatives. We thought you’d enjoy these statistics that were presented by Secretary Donovan:

“The average American household now spends 34 percent of their annual budget on housing and 18 percent on transportation - the combined total of 52 percent of their budgets wrapped up in these two largest expenses. For low-income working families, the impact is more serious - with transportation representing almost a third of their costs. The extremes can be eye-opening - the average Houston-area household spends over $11,000 per year on transportation. For these families, the expense of transportation poses a particular burden, inhibiting wealth creation, hindering home ownership and pushing family budgets closer to the brink. In some metropolitan areas, working families are spending more on transportation than on housing. The recent housing downturn has shown that auto-dependent houses are more vulnerable to price devaluation, as homes in distant neighborhoods declined in value more than regional averages, while some centrally-located homes held or increased their value. For lower-income households who hold much of their savings in their home equity, these declines can seriously undermine or eliminate their tenuous financial security. While housing costs in distant suburban locations may be lower, transportation costs are higher, and the combination of housing and transportation costs now averages 57 percent of income for working families in metropolitan areas.

http://www.hud.gov/offices/cir/test090318.cfm

http://www.inman.com/news/2009/03/19/partnership-targets-affordability-transportation

LIVE GREEN –> IDEAS TO GREEN YOUR PROPERTIES

Edited by Jodi Summers

1. Double-Paned Windows

According to the Department of Energy, the typical U.S. family spends $1,300 a year on home energy bills. Double-paned windows are up to 40 percent more energy-efficient than standard windows, and allow you to save from 10 to 25 percent off your heating or cooling bill, on top of saving five tons of carbon dioxide emissions per household per year.

2. Caulking and Storm Panels

Double-paned windows are expensive, and it could take decades for their savings to counterbalance their cost. To improve insulation without switching windows, seal up any leaks or gaps around doors and windows with caulking and weather stripping, then add a storm panel to your single-pane window to increase energy efficiency for far less money than double-paned windows.

3. Plant Trees

On top of soaking up carbon dioxide, trees that surround your house can provide hading in the summertime, keeping your property cooler and requiring less energy-intensive air conditioning.

4. Swap Your A/C for a Ceiling Fan

Ceiling fans are remarkably effective in cooling and use far less energy than air conditioning. If you still need a little A/C, consider running it on low, and using ceiling fans to effectively circulate the cool air.

5. Get Your Ducts in a Row

Faulty duct work can cause serious, life-threatening carbon monoxide problems in the home. Check your ducts for air leaks. Look for sections that should be joined but have separated, and then look for obvious holes. If you use tape to seal your ducts, experts suggest using mastic, butyl tape, foil tape, or other heat-approved tapes (look for tape with the Underwriters Laboratories logo). A well-sealed vapor barrier on the outside of the insulation on cooling ducts prevents moisture buildup.

6. Be Reasonable with the Thermostat

No reason to be uncomfortable in your home to save energy or reduce emissions, but try to keep it as warm as you can stand it in the summer, and turn it down to 68 or below in the winter.

7. Change Your Bulbs

Electricity is the largest source of U.S. carbon emissions, using about 38 percent. A switch to compact fluorescent lights (CFLs) or light-emitting diodes (LEDs) can reduce emissions and energy use drastically. Keep in mind, CFLs still contain mercury; LEDs are considered the best bet.

8. Turn Off and Unplug

Research conducted by the DOE shows that in the average American home, 75 percent of the electricity used to power home electronics is consumed while the products are turned off. Unplugging seldom used appliances could shave up to $10 off your monthly electricity bill.

9. Reach for the Energy Stars

There’s an ENERGY STAR version of almost every appliance these days from a computer to a refridgerator. According to the Environmental Protection Agency (EPA), by choosing their ENERGY STAR-qualified products, consumers can cut energy use by 30 percent, a savings of about $450 each year.

10. Switch to Solar or Wind Power Without Buying Your Own System

According to the DOE, at least 50 percent of customers have the option to purchase renewable electricity directly from their power supplier. Such power is sometimes referred to as “green power” or “clean power,” and costs an average of $1.25/month extra.

11. Shower Efficiently

With our new tiered water rates, it’s wise to be conscious about how much time, and water, you’re spending in the shower. A one- or two-minute reduction in shower time can save up to 700 gallons of water per month.

12. Use the Cold Water

If your shower takes awhile to heat up, catch the cold water in a bucket and use it to water your garden or lawn.

13. Go Native

Using native plants in landscaping can reduce residential water use by 20 to 50 percent.

14. Green Paints, Materials, and Accessories

According to the California Air Resources Board, indoor air quality in the state is worse than outdoor air quality, thanks to the toxins in paint, wood finishes, carpet, adhesives, and solvents. Air quality in new and recently renovated homes can be up to 10 times more polluted than outdoor air quality. To cut down on indoor toxins, opt for Green Seal certified paints and solvent-free adhesives.

15. Displace Water

Put a plastic bottle or a plastic bag weighted with pebbles and filled with water in your toilet tank. Displacing water in this manner saves five to 10 gallons of water a day. That’s up to 300 gallons a month, even more for large families.

16. Seal Your House

Visit the DOE’s Energy Efficiency and Renewable Energy site for a printable home energy audit, check your home for cracks, and have adequate installation installed.

28. Keep Your Garden Green

It might surprise you to learn that homeowners actually use 10 times more pesticides and fertilizers per acre than farmers, on average; 67 million pounds of the stuff are applied on lawns each year. Opt for native plants, safer pesticides, and compost for fertilizer instead.

www.realtor.com

www.dinnergarden.org/victoryGardens.html

THE GEOGRAPHY OF JOBS

By Jodi Summers

According to this exploding Geography of Jobs map - http://tipstrategies.com/archive/geography-of-jobs/-

Southern California reached its peak in 2^nd quarter 2005, hit parity 3^rd quarter 2007 and then began our great economic slide…

Check it out:

October 2007

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April 2005

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March 2009

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Let’s hope we go green in more ways than one.

THE LOS ANGELES CLEAN TECH CORRIDOR WILL MAKE L.A. THE LEADER IN GREEN TECHNOLOGY

By Jodi Summers

Mayor Antonio Villaraigosa and the Community Redevelopment Agency (CRA/LA) hope to transform L.A. into ‘the global capital of clean technology.” The goal is to transform the manufacturing corridor east of downtown into the center of green innovation. The mayor and his team are marketing this industrial parcel, dubbed the CleanTech Manufacturing Center, as a green business incubator, the way Silicon Valley hatched technology.

“We will make clean tech as synonymous with LA as motion pictures,” Mayor Villaraigosa boldly declared. “We will make LA the capital of green technology … and transform the city into a laboratory for green development.”

The CleanTech Corridor city planners envision spans 2,236 acres — about 10% railroad-owned — east of Alameda Street, and is accessible by the Metro Gold Line. It begins at a swath of land straddling the L.A. River, near Los Angeles State Historic Park (the former Cornfield), that Councilman Ed Reyes hopes to transform into a neighborhood where bicycles and pedestrians would rule and carbon emissions would be cut by 35%. Then it runs south through the site of a future Department of Water and Power research center into the Artists-in-Residence district, which stretches from Alameda to the river and from 1st Street to south of 7th Street. The vacant CleanTech Manufacturing site at Santa Fe Avenue and 15th Street, just south of the 10 Freeway, forms the corridor’s southern anchor.

“…The City is standing with the world-class academic institutions of Los Angeles and our dynamic business community to stake a claim as a global leader in the clean and green technologies that will drive the 21st century economy,” the mayor pronounced. “From R&D to manufacturing to design, this partnership taps into the creative assets and innovative spirit of our City to foster new industry and spur job growth.”

Of course, there are no local funds to make this conversion happen, so the city of Los Angeles will be calling for private investment and money from state and federal sources,

Last fall, CRA officials and the mayor’s business team began courting clean technology companies — talking up the purchasing power of the city’s public utilities, as well as the array of federal, state and city tax incentives available to business.

More than 100 companies, from solar and electric car manufacturers to a garment recycling business, expressed interest in the CleanTech site, which the city purchased from the state last April for $14 million.

“The Los Angeles Business Council believes that attracting green-tech companies will be a prime economic driver for the region,” said Los Angeles Business Council President Mary Leslie. “We were proud to launch the website CleanTechLA.org at our Sustainability Summit last year and look forward to continuing our partnership with the consortium to build a vibrant green economy in Los Angeles.”

For capitalist development, the Los Angeles Times reports that the most intensive push has been for an Italian rail manufacturer, AnsaldoBreda, which is angling for a $300-million rail car construction contract with the Metropolitan Transportation Authority. If it secures the contract, AnsaldoBreda has promised to build a $70-million manufacturing plant. The contract is controversial because some MTA officials have been unhappy with the company’s performance in meeting rail car contract specifications in the past, but the company has several political insiders in town pushing this deal, said to be Los Angeles County Federation of Labor lobbyist Chris Lehane, and the green building company Shangri-LA Construction, founded by prominent Democratic contributor and Villaraigosa donor Steven Bing.

More altruistically, farther north in the corridor, a DWP research center focusing on renewable energy, climate change and water intended to attract companies that want to work with area universities.

Dubbed CleanTech Los Angeles, the city is seeking to create a research alliance (not unlike the Department of Energy’s Commercial Building Energy Alliances) involving local area educational institutions, with major roles being played by the California Institute of Technology, University of California Los Angeles and the University of Southern California, among others.

“I’ve often said that Los Angeles may have the best collection of intellectual talent of any county in the nation. I believe it’s important to invest our intellectual capital in programs that enhance the quality of life for all of our citizens” noted University of Southern California President Steven Sample. “USC is delighted to partner with our colleagues in higher education, and with our friends from the public sector and from private business, to help make Los Angeles the greenest city in America.”

“Broader recognition of Los Angeles as a global regional center of science and engineering research and clean technology development bodes well for its economic competitiveness in a rapidly changing world,” added Dr. Jean-Lou Chameau, President of the California Institute of Technology.

The cluster of laboratories would be housed in an old transformer warehouse overlooking the river on the DWP’s Main Street site, and the DWP recently secured a private donation that will allow the department to perform a $4.5-million “green retrofit” of the building.

Among the projects planned: development of aerospace technology with Caltech and NASA’s Jet Propulsion Laboratory that would help the DWP better measure snowpack in the Eastern Sierra and dust in the Owens Valley.

 In the basement of the DWP building, UCLA would build a wind tunnel testing facility. Meanwhile, USC is exploring the site as a home for a research institute that would study how to make data centers more energy efficient.

“The city really provides a platform to have a lot of technologies tested,” said John X. Chen, the DWP’s executive director of customer service and water conservation. He said the city will be spending billions of dollars trying to reach the mayor’s renewable energy goals. For those reasons, he argued that when competing for grants, “We will be very, very competitive against anybody out there.”

And, you can’t have business without housing nearby. At the northern end of the corridor, the Cornfield/Arroyo Seco specific plan area spans more than 600 acres — from Los Angeles State Historic Park, across the river into Lincoln Heights. It will be one of those picture pretty pedestrian- and cyclist-centered neighborhood

The city would also place special restrictions on developers within a mile of the river, requiring open space and measures to reduce carbon emissions in the neighborhood.

FYI…The L.A. Times notes that the CleanTech corridor is a critical component of the mayor’s “green jobs” agenda as he eyes a probable run for governor in 2010. And it could be a test of his pledge to transform Los Angeles into “the greenest and cleanest big city in the nation,” drawing more than a third of its electrical power from renewable sources by 2020.

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http://www.latimes.com/news/local/la-me-clean-tech28-2009apr28,0,669366,print.story

http://www.ioe.ucla.edu/news/article.asp?parentid=3347

http://www.today.ucla.edu/portal/ut/la-to-become-the-capital-of-green-88893.aspx

http://cleantechlosangeles.org/

http://www.lachamber.com/clientuploads/EWE_committee/RFI_FINAL_9_16_2008.pdf

http://www.zimbio.com/pictures/hoDaoA3nwB-/Mayor+Antonio+Villaraigosa+Votes+Election/jvGcHFcTcLF/Antonio+Villaraigosa