Socal Multiunit Real Estate

GREEN WALLS KEEP MULTIUNIT PROPERTIES COOLER

GREEN WALLS KEEP PROPERTIES COOLER

By Jodi Summers

We discussed green roofs, now let’s cover green walls. Covered in vegetation, green walls can be 25% cooler than regular building walls in summer, remove air pollutants, and they look great.

Historically speaking, green walls aren’t exactly a new idea: The Romans planted grape vines along building walls, resulting in faster growing and sweeter grapes for wine. The structures are also prevalent in Europe, where modern-day green roofs first took off.

What the ancient Romans devised is now be adapted for 21^st century applications. Steven Peck, president of Green Roofs for Healthy Cities, a Toronto industry association, observes that interest in green walls is growing, estimating that green roof installations have increased at about 30 percent a year over five years.

Locally, the Rainbow Apartments off San Julian Street in the heart of skid row has a 34-foot-long vegetable wall filled with strawberries, tomatoes, basil and other herbs and vegetables. Residents of this step up housing facility are surprised at how the garden has united them.

“It brings us together as a group, kind of like therapy, to see something growing and flourishing,” Jannie Burrows said.

The wall was installed with the assistance Urban Farming, as part of the nonprofit’s Food Chain project. Urban Farming also erected “edible” walls at the Los Angeles Regional Foodbank, the Miguel Contreras Learning Center and the Weingart Centidenter.

The Food Chain project, said Urban Farming founder Taja Sevelle, enables residents in some of the city’s poorest areas to grow food in underused spaces at a time when food prices are soaring. The walls, she said, “get people to think outside the box. You can plant food in so many different places.”

In the corporate world, PNC Financial Services Group Inc. recently installed a 2,400 square feet green wall on one side of its headquarters in Pittsburgh. It’s the size of two tennis courts and features more than 15,000 ferns, sedums, brass buttons and other plants that create a swirling pattern of varying hues of green above the company’s logo. They are divided among hundreds of 2-by-2-foot aluminum panels that were anchored onto the building’s frame after part of the granite facade was removed.

“We think it’s the right thing to do for our community, for our customers and our shareholders,” said Gary Saulson, head of corporate real estate for PNC. “We wanted to add greenery to an area that didn’t have any. … We really view the green wall as public art.”

Green Living Technologies LLC, of Rochester, N.Y., designed the wall at PNC. The company has also installed walls in New York City, Los Angeles, Chicago and Seattle.

PNC bills its green wall as the largest in North America. On average green walls cost about $100 to $125 a square foot.

The Pittsburgh wall requires only 15 minutes a week of watering during peak growing season — less in winter — provided through the building’s plumbing system.

For non-edible green walls, according to Joanne Westphal, a landscape architecture professor at Michigan State University and part of the school’s Green Roof Research Program, the biggest benefit to green walls is their ability to help cool buildings through shading. They also help capture rainwater and release it more slowly into the atmosphere and stormwater systems. Additionally, green walls can offset the carbon output of one person a day.

http://www.agreenroof.com

http://www.greenroofs.org

http://www.socalgreenrealestateblog.com/?p=514

http://www.google.com/hostednews/ap/slideshow/ALeqM5hKS7UwnC8nR6j4kYQLu6m1X7nBbQD9B9DRK00?index=0

http://www.google.com/hostednews/ap/article/ALeqM5hKS7UwnC8nR6j4kYQLu6m1X7nBbQD9B9DRK00

http://www.insideurbangreen.org/green-wall/

http://www.edgelosangeles.com/index.php?ch=style&sc=home&sc2=&sc3=&id=97540

http://articles.latimes.com/2008/aug/14/local/me-garden14

http://arkitipintel.com/wp-content/uploads/2009/06/amelia_b_lima-green_wall.jpg

SEE…DOE…HUD…DOT…EPA…NGA… IS BIG BROTHER WATCHING? SOCIALIZING URBAN DEVELOPMENT IN THE UNITED STATES

By Jodi Summers

Loyal readers of this blog are well aware that the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Transportation (DOT) are working together in hopes of helping American families gain better access to affordable housing, more transportation options, and lower transportation costs by creating affordable, sustainable communities.

Taking further steps in that direction, more government agencies are getting involved to attempt to make our new millennium existence easier all around. The U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) have formed the State Energy Efficiency (SEE) Action Network to help states achieve the maximum cost-effective energy efficiency improvements possible in offices, buildings, industries and homes by 2020.

SEE…DOE…HUD…DOT…EPA…that’s a lot of government agencies making sure cities develop in the “proper” manner…socialized urban growth.

But, oops we wander, back to SEE…under the oversight of the EPA and the DOE, SEE will work with representatives from state and municipal governments, business leaders, public utility commissioners and others to make life in this country of energy efficiency for all.

The group plans to work from the framework set by the National Action Plan for Energy

Efficiency Vision for 2025, which was laid out in 2006…only the new goal is to make it a 2020 initiative…following the model set forth by California. You know AB 32 - California’s landmark 2006 global warming initiative.

(Not only has AB 32 been adopted by the Obama Administration, the International Code Council announced the state’s newly adopted Green Building Standards Code will serve as a foundation for commercial buildings worldwide AND California participated in the launch of China’s first GHG emissions registry. When his term comes to an end in November, Arnold Schwarzenegger should follow in the steps of former Vice President Al Gore in becoming a champion for energy programs that influence national and international policies…perhaps even work warmly with Mayor Antonio Villaraigosa on Los Angeles’ 30/10 initiative…ah but we dream….)

SEE will offer technical assistance, and help with specific policy and program issues to advance energy efficiency efforts. Efforts may include financing solutions, residential efficiency programs and improving availability of energy usage information, etc…

Already the DOE and EPA have a request list that includes 32 state public utility commissions wanting assistance with energy efficiency programs.

SEE…DOE…HUD…DOT…EPA…and don’t forget the NGA…the National Governors Association is another national agency championing states with energy efficiency efforts.

Earlier this year, the National Governors Association Center for Best Practices selected six states - Colorado, Hawaii, Massachusetts, North Carolina, Utah and Wisconsin - to participate in the organization’s Policy Academy on State Building Efficiency Retrofit Programs.

The academy, funded by the DOE (you remember them, working with DOT among other liaisons…), is designed to help states develop strategies and action plans to improve the energy efficiency of existing building and reduce costs and emissions.

SEE…DOE…HUD…DOT…EPA…NGA… is Big Brother is watching?

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http://www.businessgreen.com/business-green/news/2257243/agencies-action-buildings

http://www.socalgreenrealestateblog.com/?p=691

http://www.socalindustrialrealestateblog.com/?p=434

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http://management.energy.gov/images/New_DOE_Seal_Color_042808.png

THE GREENEST GOLF COURSE GETS AUDUBON CERTIFICATION

By Jodi Summers

Who has a great voice, umpteen million dollars, their own golf course and is socially conscious? Justin Timberlake, mega successful solo artist and all around good guy has opened up the nation’s first eco-friendly golf course in Memphis, Tennessee.

Originally called Woodstock Hills, the golf course is said to be the first place golf-enthusiast and former member of ‘NSYNC learned to hit a golf ball. He saved the golf course from becoming a multiunit development project.

“…Last year we found out they were going to auction it off and turn it into a development,” Justin revealed. “So we thought it was such a landmark for the community, we’d scoop it and save it. And we did. We were able to before it was auctioned off.”

A couple of decades and $16 million later, the newly renamed Mirimichi Golf Course is the “greenest” golfing destination in the U.S….

“I’m excited about every aspect of the course,” Justin confessed. “We basically created a whole new course. It’s a completely different track and doesn’t look anything like what it did. It’s exciting. There’s literally a creek around the whole course. We’ve dug 7 new lakes—the construction we’ve done lengthened the course by almost 1000 yards. We’ll have a great first tee program for kids and families. We’ll have a 9-hole executive course, but it’s really to use for the first tee program out there. We’ll have junior tournaments to get more young people into the game. I like the values the game teaches like honesty, patience, focus, and tenacity. Also, it’s close to my house. And my parents had their wedding reception there.”

The Mirimichi Golf Course is the first project in the U.S. to receive the Audubon International’s Classic Sanctuary certification.The course features irrigation systems that maximize the use of rainwater, native landscaping and solar-powered electric golf carts.

“I love my new course Mirimichi,” Justin confessed. “I love it for so many reasons. I feel like we did something great for the community. And we ended up doing something great for the world—a lot of people will pay attention to how eco-friendly this establishment is and I hope it will make some waves.”

When asked about who his idea golf foursome would be, Justin confided,” Bobby Jones because he never took a dollar for the game and always loved the purity of the game. Tiger Woods because he’s without a doubt the best golfer of all time. And has taken every dollar for the game! And my dad because he taught me how to play. He’s my favorite person to play golf with.”

http://www.justintimberlake.com/news/a_quick_9_with_jt_a_golf_qa

http://earth911.com/blog/2009/07/23/justin-timberlake-opens-first-eco-friendly-golf-course/

http://allfunmusik.files.wordpress.com/2007/06/justin_timberlake_01.jpg

http://www.wreg.com/media/photo/2009-07/48038279.jpg

http://ontheredcarpet.typepad.com/.a/6a010536c12963970b0115723cb64c970b-pi

http://media.commercialappeal.com/mca/content/img/photos/2009/07/25/22mirimichi1.jpeg

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

http://laist.com/attachments/la_zach/villaraigosa-oath-inaug.jpg

http://www.socalgreenrealestateblog.com/wp-content/uploads/2008/05/subwaymayor-760786.jpg

http://www.socalmultiunitrealestateblog.com/?p=720

http://www.inhabitat.com/wp-content/uploads/rogers1.jpg

http://franchise.business-opportunities.biz/wp-content/uploads/2008/02/economic-downturn.jpg

GLOBAL EDGE TOP 10 BUSINESS DESTINATIONS

GLOBAL EDGE TOP 10 BUSINESS DESTINATIONS

edited by Jodi Summers

Global Property Guide has put together a list of the most attractive

property investment destinations across the world. Their research team

has ranked 77 of the world’s largest cities according to the average

gross rental yields.

The top 10 destinations are dominated by Asian cities, with Jakarta,

Kuala Lumpur and Manila all making the list.

http://www.globaledge.co.uk/news/top-10-best-investment-destinations-35909

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.

**

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

http://www.north-cyprus-properties.com/places/malibu-beach/photos/Malibu-Beach-(01).jpg

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

http://pics2.city-data.com/city/maps/fr2937.png

6 units - $998,000 - PRICES HAVE COME DOWN IN SANTA MONICA

Jodi Summers

Sotheby’s International Realty

310. 392.1211

jodi@jodisummers.com

6 units - $998,000 - PRICES HAVE COME DOWN IN SANTA MONICA

Actual Net Operating Income - $51,496.80

1835 20th St, Santa Monica, CA 90404

1835 20th St, Santa Monica, CA 90404

* Price: $998,000

* Property Type: Multifamily

* Price/Unit: $166,333.33

* No. Units: 6

* Building Size: 3,038 SF

* Year Built: 1960

* No. Stories: 2

* Lot Size: 5,676 SF

* Parking Ratio: 1 / 1,000 SF

* Cap Rate: 5.16%

* Gross Rent Multiplier: 12.83

* Actual Net Operating Income $51,496.80

Highlights

* Rare Santa Monica Investment Opportunity

* 2 Blocks from Santa Monica College

* 6 Parking Spaces

* Easy Management in a Traditionally Strong Rental Demand Area

* Over 20% Upside in Rents

* Perfect for Owner/User or Investor

Description

If you’re looking for location and future cash flow, take a look at PRICED TO SELL! ALL CASH OFFERS PREFERRED! four (4) two bedroom + one bathroom unit & two (2) single units conveniently located near Santa Monica College.

Unit Mix

Description No. Units Avg. Mo. Rent

2 bed + 1 bath 4 $1,195

Studio 2 $ 850

Location

Close to Santa Monica College @ 20th + Delaware

Is this the kind of property you’re looking for?

Do let us know how we can move forward together in meeting your real estate goals 310.392.1211 or jodi@jodisummers.com.

It’s my hope, that over the course of the year, you would be comfortable referring one person to me. I’m building a referral-based business and your recommendation will make the world a better place.

Best….

Jodi Summers

The SoCal Investment Real Estate Group

Sotheby’s International Realty

310. 392.1211

jodi@jodisummers.com

www.SantaMonicaPropertyBlog.com

www.SoCalMultiUnitRealEstateBlog.com

LICENSE # - 01343854

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It isn’t what you have, or who you are, or where you are, or what you are doing that makes you happy or unhappy. It is what you think about. - Dale Carnegie

p.s. This is not intended as a solicitation if your property is already listed with another agent.

URGENT! CONTACT YOUR CONGRESSMAN TO AVOID COMMERCIAL REAL ESTATE TAX HIKES

Action to Oppose More Than Doubling of Taxes on Real Estate Carried Interests

Edited by Jodi Summers

In early December, Congressman Charles Rangel Ways, chairman of the Ways and Means Committee of the House of Representatives, introduced the “Tax Extenders Act of 2009″ (H.R. 4213). Wrapped in this legislation package is a proposal that would more than double the taxes on carried interest received by general partners in real estate partnerships. Under this legislation, carried interest would no longer be taxed as capital gains at 15 percent, but as ordinary income at rates as high as almost 35 percent…making everyone’s investment real estate holdings a lot less sexy.

Kick us while we’re down. Those investing in commercial real estate are already feeling economic distress because of the decline of property values and the lack of loans available. The proposed legislation would more than double the taxes imposed on many real estate entrepreneurs.

If H.R. 4123 enacted into law, this proposal could be the largest modification to the taxation of real estate since the Tax Reform Act of 1986.

This bill was past stealthfully, proposed on December 7^th, it bypassed the customary legislative process, bypassing the House Ways and Means Committee, and going directly to the House floor for a vote on December 9, reducing meaningful opportunities to amend the bill.

Safeguard your real estate assets; communicate with your Congressional Representatives and Senators! Let them know that this tax increase on carried interest will further damage the commercial real estate industry and undermine efforts in their own communities to spur job growth and economic recovery.

http://www.capwiz.com/naiop/issues/alert/?alertid=14439831&type=CO has letters ready to go to your congressmen.

Save your assets and contact them.

**

http://www.capwiz.com/naiop/issues/alert/?alertid=14439831&type=CO

http://www.ysop.org/images/Capitol.jpg

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.

LOS ANGELES HAS MORE PEOPLE THAN MICHIGAN

State Population Estimates

The Economic Data Global Express offers statistics from the California Department of Finance (DoF) report on 2008 population for the state and its counties and the U.S. Census Bureau estimates as of July 1, 2008 for the states. Comparisons of the two are interesting.

The DoF reported that California added 435,905 residents between 2007 and 2008, pushing the July 1 population count to 38,148,493 persons. The Census Bureau estimated that the state added 379,132 residents over that time frame and placed the July 1, 2008 count at 36,756,666 persons.

If it were a separate state, Los Angeles County (July 1, 2008 estimate of 10,347,437 according to DoF) would rank 8th in the nation, ahead of Michigan (July 1, 2008 population 10,003,422). (Jack Kyser)

PR: http://www.census.gov/

http://laedc.org/eedge/index.html#2