Real estate tech firms target Montecito, Santa Barbara
The tri-county real estate tech scene is surging. A number of web-based brokerage firms are flooding the region, targeting the affluent neighborhoods of Montecito and Santa Barbara. They aim to disrupt the established order of the real estate market through features such as streamlined online platforms, lower commission rates and live video walkthroughs. Open Listings Read More →
Caruso’s Miramar hotel revival gets OK to begin construction
The controversial multimillion-dollar revival of the Miramar Hotel and Resort in Montecito is moving forward after the Montecito Water District allowed developer Rick Caruso to increase the size of the project’s water meters. The MWD initially denied the newest iteration of the long-debated Miramar project because of the district’s severe water shortage. The issue at Read More →
Santa Barbara County to regulate short-term rentals
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LTC Properties beats analyst projections
Westlake Village-based LTC Properties beat analyst projections of rental revenue and funds from operations per share in its fourth quarter earnings report. LTC is a real estate investment trust that buys facilities such as nursing homes. Investors in such companies often use funds from operations as a substitute for earnings per share because it takes depreciation Read More →
Downtown SLO development raises issue of building heights
The San Luis Obispo City Council gave a preliminary nod to the concept of a mixed-use development slated for the heart of downtown SLO. It was not a formal action, the developers were just looking for feedback prior to submitting a final project. While the development isn’t necessarily pivotal to SLO’s economic vitality, the conversation Read More →
Ventura County economy underperforming
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Oxnard food processor closing, tri-county farm workers laid off
Oxnard-based food processing company Coastal Green Vegetable Co. is closing after 27 years in business. Coastal Green contracts with growers of cauliflower, broccoli, peppers, kale, spinach and other produce, freezes the food and sends it to repackagers. Increasing costs have slimmed margins, President and General Manager James Pickworth said. About 34 full-time employees and 100 Read More →
