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Thursday, Jun 8, 2023

The EastLake Co. President Adds New Title

The EastLake Co. President Bill Ostrem is now chairman emeritus of the University of San Diego’s Burnham-Moores Center for Real Estate.

Ostrem received the new title for his continuing support and contributions to the school, including service as chairman of its residential real estate committee of the policy advisory board for several years.

The school says Ostrem has provided guidance to university staff and aided in the development of curriculum, conferences and student career programs.

In addition, he serves within numerous industry, community and service organizations, including the American Heart Association’s San Diego division, South County Economic Development Commission and EastLake Education Foundation.

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The EastLake Co. is developer of Chula Vista’s EastLake community.

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Solar Power Project Completed:
New Jersey-based WorldWater & Solar Technologies completed the installation of a 1.1 megawatt solar power system for the Valley Center Municipal Water District in Valley Center.

The system was financed by Solar Power Partners of Mill Valley, which will serve as owner and operator and provide 2.1 million kilowatt hours per year of electricity for the district.

The project, completed for an undisclosed price, is part of a power purchase agreement and took three years to build.

The district will purchase power from Solar Power Partners for 25 years.

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Green Upgrades:
Burger Construction recently completed environment-friendly tenant improvements for the offices of San Diego-based Tucker Sadler Architects at Wells Fargo Plaza downtown. The Solana Beach general contractor met LEED standards set by the U.S. Green Building Council.

The improvements designed by Tucker Sadler for 12,000 square feet of space include upgrades to the lobby, conference rooms, office space, libraries and reception area.

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Award-Winning Work:
California Construction magazine gave its Project of the Year award to the San Diego division of PCL Construction for its downtown Balboa Theatre rehabilitation.

The 1924 theater underwent a multiyear, $26.5 million refurbishment before opening in January 2008.

The Centre City Development Corp., the city agency that oversees downtown redevelopment projects, acquired Balboa Theatre in 1985 for $1.9 million.

PCL raked in three awards from California Construction, including two in the performing arts, and restoration categories.

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New Year, New Name:
The National Association of Industrial and Office Properties is now NAIOP Commercial Real Estate Development Association.

The San Diego chapter of NAIOP announced the change Jan. 5.

The moniker expands the trade asso & #173;cia & #173;tion from just industrial and office properties to all categories of commercial real estate.

The local chapter has 540 members.

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Construction Declines:
Construction activity has plummeted to its lowest level since 1995, according to the Architecture Billing Index from the American Institute of Architects.

The AIA estimates a nine- to 12-month period between architectural billing and construction spending.

The institute predicts lower spending on construction from August through November.

Send real estate, construction, design and urban planning news to Michelle Mowad at mmowad@sdbj.com.


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