Panel Discusses Local Redevelopment Challenges
When it comes to redevelopment, San Diego is one tough town to do business with.
This is according to a panel of experts who expressed their views during the "Urban Redevelopment Outlook" presentation that was hosted by SDSU's Corky McMillin Center for Real Estate on May 29, 2013. The event was attended by approximately 140 real estate professionals, SDSU students, faculty and staff.
When Governor Jerry Brown shut down all of California's redevelopment agencies on February 1, 2012, San Diego's agency was one of the most active in the state, said Janet Weinrick, who headed the San Diego Redevelopment Commission at the time. Since then, says Weinrick, the only major redevelopment projects were those that had enforceable contracts that existed prior to that date.
Weinrick, who served as moderator of the event, turned over the discussion to the panelists who provided additional information on the challenges of redevelopment in the San Diego region. The panelists for this event were Perry Dealy, president and CEO of Dealy Development, SDSU alumnus Jeff Graham ('98. M.B.A.) president of the non-profit Civic San Diego, and Reginald Jones, president and CEO of the Jacobs Center for Neighborhood Innovation.
The panel discussed how redevelopment in San Diego had been hampered by complexity, lawsuits and bureaucracy that creates less incentive for developers to move forward with projects. Jones advocated "cutting through the red tape to make redevelopment look more attractive" and Graham spoke about how developers need to build projects that are appealing to 20 – 30-year-olds to make them pay off.
The panel session concluded that in order for viable redevelopment to take hold in San Diego, the state and city government must find ways to make projects more valuable for quality developers.