Smart development along stretch of I-5

first_imgBURBANK – Long overlooked and neglected, a 30-mile stretch along the Golden State Freeway is now turning heads for its sizzling, economic development potential. The I-5 corridor, spanning from Glendale through Santa Clarita, could become the region’s promised land – sculpted into a vibrant cluster of biomedical, entertainment, technology and business service sectors, San Fernando Valley officials say. And key to broadened economic prosperity in the region will be creating a collaborative and comprehensive strategic plan targeting the corridor for smart development, according to a report released today by the Mulholland Institute, a San Fernando Valley-based public policy center. “It’s the only place where we have available land left,” said Bruce Ackerman, president of the Economic Alliance of the San Fernando Valley, a sponsor of the report. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.“It’s begging to have revitalization. It’s begging to have attention paid to it.” Economists and officials from jurisdictions along the corridor are scheduled today to strategize on plans to help the area achieve its potential. First step While the economic impact of better, coordinated strategies for development along the corridor is unknown, officials said the area is already booming. From 2001 to 2005, payrolls in the corridor grew 26 percent and the average salary for workers along the corridor rose 20 percent – both nearly twice the increases seen statewide and in Los Angeles County. With a 9.2 percent office vacancy rate and 1.6percent industrial vacancy rate in Los Angeles County, there’s a crying need to develop land, said Jack Kyser, chief economist for the Los Angeles County Economic Development Corp. And for Los Angeles residents, that could mean good-paying jobs are on the way. “People will say it should be used for retail,” said Kyser. “No. You need to put it to use as it will create good, quality jobs.” Already, the freeway corridor has seen job growth expand about 5percent from 2001 to ’05 – while job growth rose just 1.8percent in California during the same period, according to the Mulholland Institute report. But that could be boosted even further by coordinated development of the corridor, which today has seen piecemeal planning as landowners have come and gone and some sites – such as gravel pits – have been abandoned and never redeveloped. The corridor needs an overarching vision to best develop it for businesses and neighbors, said Daniel Blake, director of the San Fernando Valley Economic Research Center at California State University, Northridge. “We want to channel it to a direction that’s good for the Valley and the people – as well as Los Angeles,” said Blake. “This is a first step to bringing it to the surface, getting it on people’s radars and taking an inventory of what’s out there.” The study notes that Santa Clarita, at the north end of the corridor study area, has a vision for industrial and commercial growth – and a well-developed entertainment cluster that could complement the regional entertainment cluster at the other end in Burbank and Glendale. Renaissance coming Meanwhile, it notes that the east San Fernando Valley – in between Santa Clarita and Burbank/Glendale – offers complementary opportunities for economic expansion of both entertainment and technology industries. And it adds that with a less than 2percent industrial vacancy rate, the East Valley will experience a renaissance as much of its current heavy industry becomes obsolete and its mining and landfill activities phase out over the next three years. The study also recommends expanding housing along the corridor, with a focus on increasing moderately affordable units and expanding investment in transit. It recommends boosting capacity on the I-5 and other regional highways by adding high-occupancy-vehicle lanes and high-occupancy toll lanes. And it calls for more rail and dedicated busways. It also calls for toll alternatives for trucks and commercial traffic on roads. The freeway corridor gets heavy truck traffic to the ports of Los Angeles and Long Beach, which annually handle more than $290billion in cargo. Half of that cargo heads out of state, leaving the region by train, according to the report. The corridor study emerged out of an earlier report from the Mulholland Institute. The institute studied the corridor for five years, with the help of experts, community leaders and more than 1,000 volunteers. Although over the years community leaders have commented on visions for the area, today will mark the first time they all have gathered together to collaborate, said Bob Scott, project director for the Mulholland Institute. “It hasn’t happened until now,” said Scott. “It sounds simple, but it has not been happening.”, 818-713-3746 — INTERSTATE 5 STRATEGIES EMPLOYMENT: Promote key assets including diverse work force; research and development, scientific and medical institutions; good movement capabilities; Long Beach and Los Angeles ports. INDUSTRY: Identify and track key industry clusters. RECRUITMENT: Implement a targeted campaign to recruit businesses to complement existing industries along the I-5 corridor including entertainment, technology, aerospace and business services. TRANSPORTATION: Pursue rail-based strategies for freight. PARTNERSHIPS: Undertake collaborative special redevelopment initiatives and partnerships. DIALOGUE: Conduct meetings with community groups and chambers of commerce on identifying, retaining and expanding key companies. NORTH AND EAST VALLEY STRATEGIES LAND USE: Develop new sites and redevelop existing properties into modern industrial space for expansion of key employers. REDEVELOPMENT: Identify and assemble large redevelopment sites for a variety of new uses. INCENTIVES: Offer incentives such as business-license-tax waivers and special districts. LOCATION: Identify and evaluate town center development sites. SOURCES: Mulholland Institute, Valley Economic Alliance160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

Irish exploration firm lists on JSE’s AltX

first_img“The approval by the JSE of our dual listing marks an important step in the company’s development and supports our strategy to be a significant African mineral exploration and development company,” Kibo Mining CEO Noel O’Keefe said in a statement last week. The dual listing also frees capital to consolidate the company’s position in the industry by acquisition of other potential mineral assets. South African individuals will be able to acquire Kibo shares on the JSE, without restriction. Consequently, the purchase of Kibo shares by a South African individual would not affect their R2-million offshore investment allowance. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material Listing on the AltX, a separate board of the JSE that focuses on quality, high-growth companies, also raises the profile of Kibo Mining, while providing the company with an additional market through which its projects can be funded and developed. Offshore allowancecenter_img 30 May 2011 Kibo, which has its primary listing on the London Stock Exchange’s Alternative Investment Market (AIM), focuses on gold and nickel projects in Tanzania. Irish mineral exploration and development company Kibo Mining plc has secured a secondary listing on the JSE’s AltX board. Through a strategic investment in Mzuri Gold, Kibo has access to one of the largest mineral right portfolios in Tanzania, both in the established and gold-prolific Lake Victoria Goldfields and in the newly emerging goldfields of eastern Tanzania between the towns of Morogoro, Dodoma and Handeni.last_img read more

Mayor: ‘Reduced capacity Stadio Meazza’

first_imgMayor of Milan Giuseppe Sala urges Inter and Milan to work with the local authorities, as a “reduced capacity Stadio Meazza would be a good solution.” The two clubs presented their ambitious plans to knock down the current Stadio Giuseppe Meazza and construct a new joint arena next to it, essentially where the car park of the stadium now stands. A vote in the local council backed plans to revamp the San Siro area of the city, but shot down attempts to eliminate the Stadio Meazza entirely. “The best solution for San Siro would be a combined solution, so a commercial space for development, but also a reduced capacity arena of use to the city,” declared Mayor Sala. “We need to understand if it is financially viable, but it would be the best thing for the city, seeing as football in Milan isn’t just Serie A, but also women’s football and youth teams. “In that sense, a reduced capacity Stadio Meazza would be a good solution. I don’t know if it’s possible, but I ask the clubs to make a serious effort to find a new life for San Siro.” This doesn’t mean Inter and Milan can’t build a whole new stadium, but the existing Stadio Meazza would need to remain in some way or another. That would force a radical rethink of the architectural plans presented so far. It’d also increase the costs, as knocking down the stadium would be in the region of €45m, whereas repurposing it would cost €200-250m. Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: read more



a month agoSouthampton defender Maya Yoshida: I think we missed a huge opportunity

first_imgAbout the authorPaul VegasShare the loveHave your say Southampton defender Maya Yoshida: I think we missed a huge opportunityby Paul Vegasa month agoSend to a friendShare the loveSouthampton defender Maya Yoshida felt they missed a huge opportunity to capitalise on a ten-man Spurs after the 2-1 defeat at Tottenham Hotspur Stadium.Saints found themselves on level terms after Danny Ings pounced on a Hugo Lloris mistake to equalise against a Spurs side who were down to ten men from the 31st minute.But the hosts soon went back in front, and Saints were unable to break them down for a second time after the interval, with Yoshida denied by a stunning Lloris save from the pick of the chances.“I think we missed a huge opportunity to win against a big team today,” the defender said.“Obviously it’s a huge disappointment for myself, but if we have the chance we have to take it, otherwise it will get more difficult.“After Aurier was sent off, we were too passive. We have to be much more aggressive, and after we conceded the second goal in a sloppy way, it became more difficult for us.“In the second half, we needed more creativity in the attacking third. They defended very well, but for myself, I needed to score from the corner kick.“Again, there was an opportunity and we couldn’t take it. Now it’s a really difficult situation for ourselves, but we cannot look behind us too much.“It’s another important game against Chelsea next week, so we’ll focus on that and keep going.” last_img read more

CMHC looks to Airbnb in bid to boost withering supply of affordable

first_imgOTTAWA – Canada’s housing agency is looking to an unlikely ally in a bid to boost the stock of affordable rental housing: Airbnb.The head of the Canada Mortgage and Housing Corp., says he believes short-term rental companies like Airbnb and Vacation Rental By Owner (VRBO) could help increase the rental supply in the country and, in turn, possibly reduce rents.The government’s upcoming national housing strategy will have a heavy focus on increasing the supply of affordable housing options, including rental units and Airbnb alone offers the potential for tens of thousands of units.CMHC chief executive Evan Siddall said his agency recently approached Airbnb, the largest such service in Canada, to see if there are ways to turn those short-term rentals into apartments available to locals to rent for longer terms. He cautioned that it was still early days with a lot of details yet to work out.“I think VRBO and Airbnb should get ahead of this, because they could be giving us some social utility by helping us spawn supply,” Siddall said in a recent interview with The Canadian Press.Lindsey Scully, a spokeswoman for Airbnb, said the company is speaking with potential partners about ways to “create economic opportunity for everyday people.”“We take the issue of affordable housing seriously and that is why we are collaborating with communities and organizations across Canada, sharing comprehensive data and detailed information about our community,” she said.The supply of purpose-built rental units in the country has been on a decades-long decline as developers build more condominiums than apartments.As a result, the rental vacancy rate in 2016 was 3.7 per cent nationwide, CMHC research shows, a number that glosses over acute shortages in some cities. Vancouver, Victoria, and Kelowna, for instance, all had vacancy rates under one per cent in 2016, meaning there were limited options for renters and the conditions in place to push rents higher as demand outstripped supply.The shortage is equally acute in the secondary rental market that has sprung up over the last eight years as condominium owners rent out their units to make a profit. A CMHC survey of 22 cities showed vacancy rates in these condominiums ranged from a low of 0.3 per cent in Vancouver to a high of 6.8 per cent in Edmonton.Into this mix enter home-sharing services and concerns that they have further eroded the supply of rental units.Airbnb says its hosts typically share their homes on average up to 60 nights per year, earning themselves about $4,000 — figures that the company suggests aren’t high enough to support the idea that it is squeezing units out of the long-term rental market.In a study published this summer, a McGill University research team estimated that Airbnb hosts have removed about 13,700 units from rental markets in Montreal, Toronto and Vancouver, or about two per cent of the total housing stock.The authors argued that services like Airbnb would pull more long-term rentals off the market as home and condo owners see more money to be made through short-term rentals.“We’re not even close to the situation where there’s enough supply of rental housing to meet demand and when you’re in those very, very constrained situations, then even just a couple thousand units getting pulled off the market by Airbnb can have a really major impact on prices,” said lead researcher David Wachsmuth.To keep those units in the rental market, governments have to create incentives where few currently exist, said said Wachsmuth, an assistant professor of urban planning.last_img read more

Oil surges and loonie rises but markets muted on new NAFTA deal

first_imgShares of Canada’s largest auto parts company, Magna International Inc., closed up 2.2 percent at $69.36, while Linamar Corp. was up 6.3 percent to $63.26 and Martinrea International Inc. was up 10.5 percent to $14.57.U.S. President Donald Trump had threatened to impose punishing auto tariffs on Canada if it didn’t reach a deal to replace the North American Free Trade Agreement.As a side deal to the new pact, called U.S.-Mexico-Canada Trade Agreement, or USMCA, the Trump administration has agreed to exempt Canada if the United States imposes 25 percent tariffs on imported vehicles and auto parts.Excluding energy, the TSX likely fell as information technology led sectors on the downside with BlackBerry shares falling 5.1 percent. “It’s got to be good news for just about everybody but it is a bit of a muted response,” Michael Currie, vice-president and investment adviser at TD Wealth, said of the reaction to the new U.S.-Mexico-Canada Agreement.The energy sector led the market, rising two percent on the back of a 38-per-cent increase in MEG Energy Corp. shares following a hostile takeover offer by Husky Energy Inc. valued at $6.4 billion, including the assumption of $3.1 billion in debt.On top of that, reports have suggested LNG Canada, an estimated $40-billion gas liquefaction plant and pipeline that was delayed in 2016, could be officially sanctioned shortly.“We haven’t seen many deals out of the energy patch of this size in quite a while,” Currie said in an interview.Crude prices gained almost three percent Monday with the November crude contract up US$2.05 to US$75.30 per barrel.“If you are in the oilpatch you couldn’t ask for a better day.” TORONTO, O.N. – The price of oil hit a four-year high and the Canadian dollar rose to its highest level since May on Monday, but the reaction in North American markets to a tentative trade deal to replace NAFTA was pretty subdued.After rising sharply in early trading, markets ended the day moderately higher mainly due to the performance of the important energy sector in Canada and of General Electric Co. in the U.S.The S&P/TSX composite index hit a high of 16,193.06 but closed up just 31.29 points to 16,104.43.center_img The loonie was trading at an average of 78.11 cents US, up from an average of 77.25 cents US on Friday. That’s the highest level since May 22.The increase is directly attributable to the trade deal involving Canada, the United States and Mexico, said Currie, who noted that bank economists are predicting the loonie could head to the 80-cent range.Removing the trade uncertainty likely also means the Bank of Canada will increase its interest rate by 0.25 percentage.“It looks like full steam ahead for a rate hike this month and that pushes up the Canadian dollar too.”Meanwhile, in New York, the Dow Jones industrial average was up 192.90 points to 26,651.21. The S&P 500 index was up 10.61 points at 2,924.59, while the Nasdaq composite was down 9.05 points to 8,037.30.The November natural gas contract was up 8.6 cents at US$3.09 per million BTU’s.The December gold contract was down US$4.50 at US$1,191.70 an ounce and the December copper contract was down 1.75 cents at US$2.79 a pound.By Ross MarowitsTHE CANADIAN PRESSlast_img read more

Woman alleges cops didnt help after she was molested in Maha

first_imgMumbai: A 24-year-old woman has claimed she was groped by an unknown person at suburban Bandra railway station on Wednesday night and alleged that police personnel who were informed about the incident did not help.Tweeting about her ordeal, the woman said. “Today I was groaped at Bandra station, I shouted, when I seen the cops, i read to them and told the cops l what had happened, they made me run here and there. The man got away…@Ourbandra @MumbaiPolice.” Also Read – Uddhav bats for ‘Sena CM’Her tweet, which appeared on Wednesday night, added, “I even told him pointed out that he man is there, I called up 100. They just asked what happened, and then cut the call, we’ll see what we can do. There was no assurance @CPMumbaiPolice @MumbaiPolice @bandrabuzz.” “After more than half hr, after going home I got a call from the police station, saying I’m here, and I don’t see that man. I don’t blame the officer that called me. I blame those 2 cops who didn’t help me. @MumbaiPolice @CPMumbaiPolice @bandrabuzz,” she said in her tweet. Following the tweet, police registered a molestation case and an official Friday said CCTV footage of the area was being checked to nab the accused.last_img read more

Uri a very special film for me Vicky

first_imgMumbai: Actor Vicky Kaushal says Uri: The Surgical Strike will always remain close to his heart. “Uri… is a very special film for me and our idea was to give tribute to the Indian armed forces. The soldiers give up their today for our tomorrow and no words can signify or repay the sacrifices they make for our country,” said Vicky. “The way audiences have resonated with the emotion of patriotism, valour and sacrifices of our armed forces has been amazing. As artists, that is the biggest takeaway for us,” added the actor, who was seen as Major Vihaan Singh Shergill in the film. Directed by Aditya Dhar, gritty drama, which traces events of the 2016 Uri attack and its aftermath, also features Yami Gautam.last_img read more

ZEE shares plummet 10 on new stake sale reports

first_imgNew Delhi: Shares of Zee Entertainment Enterprises Ltd (ZEEL) plunged 10 per cent Wednesday amid concerns over stake sale by its promoters. The scrip tumbled 9.72 per cent to close at Rs 333.30 on the BSE. During the day, it dived 12.66 per cent to Rs 322.45.On the NSE, shares plunged 10.05 per cent to close at Rs 332.05. In terms of traded volume, 30.75 lakh shares were traded on the BSE, while over 6 crore shares were traded on the NSE during the day. Also Read – Commercial vehicle sales to remain subdued in current fiscal: Icra”The Subhash Chandra led Zee Entertainment Limited fell today for the fifth day in a row as speculations are ripe that the stake sale process is undergoing some hindrance. But the panic bitten stock is in no mood to turnaround despite the company’s clarification that the process is at an advanced stage and making steady progress,” said Umesh Mehta, head of research, Samco Securities. In five days, the scrip has tumbled 22.89 per cent on the BSE. Meanwhile, ZEEL Wednesday said its board will consider standalone and consolidated results for fiscal 2018-19 on May 27, scotching “market rumours” that raised concerns about audit of the company’s financial statements. Also Read – Ashok Leyland stock tanks over 5 pc as co plans to suspend production for up to 15 daysThe company said, in a regulatory filing, it has been informed that “there are certain rumours floating in the market raising concerns about audit of the financial statements of the company for the fiscal year ended March 31, 2019.” “We deny the above rumours floating in the market relating to audit of the financial statements of the company,” it said. In a separate filing, the company said it was not in a position to provide any comment or clarification regarding the stake sale process by its promoters, Essel Group. On Tuesday, Essel promoters had said its stake sale process in ZEEL is at an advanced stage. Last year in November, the promoters had stated that they planned to divest up to 50 per cent of their stake in ZEEL to a strategic partner.last_img read more