Pacific Coast Business Times: Housing solution key to strong Central Coast economy

Santa Barbara, California – Published 10/28/2016
By Alex Kacik

The only sustainable way to foster long-term economic growth is by building more housing, said Chris Thornberg, founding partner of Beacon Economics.

“If you want Ventura to grow faster, if you want Santa Barbara to grow faster, you have to start with a conversation about housing,” Thornberg told about 300 people at Fess Parker’s Doubletree Resort in Santa Barbara at the ninth annual Radius Real Estate and Economic Forecast on Oct. 25. “As far as housing, we have a big problem.”

It’s a problem that will persist barring a major shift in policy, he said.

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Santa Barbara News-Press: Economist: Housing shortage slows growth in Santa Barbara

Santa Barbara, California – Published 10/26/2016
Santa Barbara News-Press
By Emily Leslie, News-Press Staff Writer
2016 Radius Forecast Keynote Speaker, Economist Christopher Thornberg of Beacon Economics
Dr. Christopher Thornberg, founding partner of Beacon Economics, delivers the keynote speech at the ninth annual Radius Real Estate and Economic Forecast on Tuesday at Fess Parker’s Doubletree Resort. NIK BLASKOVICH/NEWS-PRESS

One of the nation’s leading economists, Dr. Christopher Thornberg, zoomed in on Santa Barbara’s housing crisis while delivering the keynote speech at the ninth annual Radius Real Estate and Economic Forecast on Tuesday morning.

To promote economic growth, Californians ought to focus more on the housing shortage than the state’s perceived unfriendly business climate and question the state’s tax structure more than its high rates, said Dr. Thornberg, founding partner of Los Angeles-based Beacon Economics, during his address at Fess Parker’s Doubletree Resort.

The “miserabilism” that Wall Street, the media, and even the presidential candidates perpetuate on a national level, he said, is an effort to convince the public that “things are bad when in reality, they’re not.”

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Noozhawk: Economist Offers Rosy Outlook Despite Gloomy National Mood

At Radius Economic Forecast in Santa Barbara, Christopher Thornberg says country continues to have bright near-term economic future

Santa Barbara, California – Published 10/25/2016
By Sam Goldman
Economist Christopher Thornberg
Christopher Thornberg speaks during Tuesday’s Radius Real Estate and Economic Forecast in Santa Barbara. (Sam Goldman / Noozhawk photo)

“Miserabilism” — having or promoting a miserable or overly negative view of things — was the way economist Christopher Thornbergdiagnosed the country’s mood on Tuesday at the Radius Real Estate and Economic Forecast in Santa Barbara.

Economic conditions in the United States, California and locally are overall much better than one may think, Thornberg said — if only the right issues were discussed and the right statistics examined.

Thornberg was the keynote speaker at the ninth-annual forecast, put on by Radius Commercial Real Estate & Investmentsat the Fess Parker, a Doubletree by Hilton Resort.

The frequent media commentator and former advisor to the state’s Controllerand Treasuryoffices is a founding partner of Los Angeles-based research and consulting firm Beacon Economics, and an adjunct professor at UC Riverside, where he directs the university’s Center for Economic Forecasting and Development.

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Radius: REI center sells amid peak demand for elusive Santa Barbara real estate

Santa Barbara, California – Released 4/6/2015
By Radius Commercial Real Estate & Investments
REI building in downtown Santa Barbara

The transaction, on the heels of a record shattering 2014, marks the largest sale of retail property in downtown Santa Barbara since 2002. “The interest in this asset was as intense as I’ve ever seen,” said Austin Herlihy, Senior Vice President of Radius Commercial Real Estate & Investments who brokered the deal along with his partner Steve Brown.

Another prime Santa Barbara commercial property has been snatched up after generating a frenzy of interest from potential domestic and international buyers.

The high profile center located at State Street and Highway 101—anchored by outdoor gear retailer REI—closed escrow on March 31st and was purchased by an undisclosed U.S. LLC.

The property had been listed at $21,950,000 and traded “within 3-4% of asking price to an out- of-town buyer,” according to lead broker Austin Herlihy of Radius Commercial Real Estate Investments who was not at liberty to discuss the final terms. He said the deal represents the largest sale of pure retail property in downtown Santa Barbara since 721 State Street sold in May, 2002 for roughly $44.9 million.

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Noozhawk: Tenant Chosen for Elephant Bar Restaurant Space at Santa Barbara Airport

The Airport Commission approves a deal with High Sierra Grill House; the City Council will have the final say Feb. 10

Santa Barbara, California – Published 1/29/2015
By Gina Potthoff, Noozhawk Staff Writer
High Sierra Grill

If the Santa Barbara City Council approves next month, High Sierra Grill House will open in the former Elephant Bar Restaurant space at the Santa Barbara Airport, possibly as soon as August. (Contributed photo).

A new restaurant — with a new vibe and owners familiar with its predecessor — is set to open in the old Elephant Bar Restaurant at the Santa Barbara Airport.

Three longtime restaurateurs and friends with Santa Barbara ties want to lease the large restaurant location at 521 Firestone Road from the Santa Barbara Airport, which owns the property that has been vacant since August 2013 when the Elephant Bar closed its flagship after 30 years.

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