IN THIS ISSUE:
UPCOMING EVENTS:
May 2008 >
Fire Station 2
to Break Ground
June 2008 >
Campus El Segundo
Developers to Begin
Construction on Six-Story
Office Building
POLL:
What is your favorite aspect of doing business in El Segundo?
The El Segundo Generating Station will provide the most power of any of the seven facilities recently contracted by Southern California Edison to help the regional grid.
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A MESSAGE FROM THE MAYOR
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As the days get longer and the weather warms up, El Segundo's business prospects continue to brighten. This spring, our city is in the midst of one of its most productive periods ever because of the magnitude of our exciting new developments and projects either just completed or ready to break ground.
Since our last eNewsletter, the City has celebrated the opening of the 14-acre Edge at the Campus El Segundo office park and completion of the Douglas Street Gap Closure (a project that even predates my tenure on the Council...).
We're pleased to announce that Southern California Edison has just-inked a 10-year contract with NRG Energy, Inc. that will allow the El Segundo Generating Station to modernize and in the process shore up much-needed electric power for the regional grid--and provide a steady revenue stream for our city in the future. And by mid-year, we expect to break ground on a new state-of-the-art fire station, a plan that has been in the works for over 20 years.
Thomas Properties Group will begin building a six-story office building at Campus El Segundo in the coming months, while downtown El Segundo-based developer Pacsan Management Group will break ground on the largest mixed-use office complex ever west of Sepulveda Boulevard.
These and a number of smaller, but significant, projects are more evidence that El Segundo has become the commercial hotspot not just in the South Bay but, arguably, in the entire L.A. county.
While we are happy about our growth, at the same time we are also sensitive to our surroundings and to our planet. The commercial developments mentioned and our new fire station are set to achieve LEED certification for environmentally responsible construction. Meanwhile, we hope BT America's innovative solar panel project at its El Segundo headquarters will spur similar efforts in our city and across the region.
Earlier in the year, El Segundo formed an Environmental Committee that will spearhead our city's commitment to green initiatives. On a related note, we have taken a leadership role with the cooperation of a number of regional water agencies in order to conserve water now that supplies are down significantly and prices are up. El Segundo is proud to be the only city in California where most of the water used is reclaimed.
Meanwhile, please keep our city in mind if your firm is looking for a new environment. We really are "the city that invests in you." Our capable staff will quickly help acclimate you to the county's first winner of "the most business-friendly city" Eddy award. You can also learn more about us by logging onto: http://www.elsegundobusiness.com
Sincerely,
Mayor Kelly McDowell
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DOUGLAS STREET FINALLY GOES THROUGH
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The much anticipated project to connect Douglas Street--a vital thoroughfare between Aviation and Sepulveda boulevards--through to Rosecrans Avenue is finally complete and the City held its grand opening ceremony on Friday, March 7. The festivities included a procession of antique cars (courtesy of our own Automobile Driving Museum) ushering in the new throughway. The new underpass provides 1,100 feet of new four-lane roadway under the existing railroad and Metro Green Line station to connect the two dead ends of Douglas between Park Place and Alaska Avenue. Also included: a transit transfer station at the north end of the site.
This project, along with the long-awaited conversion of Nash and Douglas streets to two-way thoroughfares, will help alleviate traffic flow in the busy Rosecrans Corridor and provide new development and job opportunities for the entire region.
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BIG PLANS ON CAMPUS
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In the next few months, Campus El Segundo developer Thomas Properties Group, Inc. will begin construction of a 225,000 square foot, six-story building on spec due for completion by late 2009 or early 2010. Among other potential tenants, TPG is currently in negotiations with a major four-star, business-class hotel that would come with a 70,000 square foot fitness facility and full-service restaurant.
The structure is just one component of the ambitious 46.5 acre Campus site--a master planned project consisting of a mix of state-of-the-art hospitality, retail, office and recreation space. The development will incorporate distinctive architecture, lushly landscaped walkways and boulevards, shimmering waterscapes and inviting public spaces.
On February 14, Mar Ventures held the grand opening for its just completed 14-acre office park aptly titled The Edge at Campus El Segundo. The project, located on the north end of the Campus site, combines 200,000 square feet of office space with 20,000 square feet of support retail. The privately owned commercial buildings are available for purchase with qualified buyers able to obtain 90 percent financing. Buildings range from 1,500 to 20,000 square feet. The layout for the project follows the prescribed design guidelines for Campus El Segundo, incorporating lushly landscaped walkways, distinctive architecture and open public areas.
The tenant list includes Xerox Federal Credit Union, Scottrade, Z Pizza, Subway, Noah's Bagels, Kaya Sushi and Starbucks.
Meanwhile in the coming months, the City of El Segundo begins construction on the long-awaited Fire Station #2 on a one-acre parcel at Campus El Segundo (donated by Thomas Properties Group), that will replace the decades-old structure on El Segundo Boulevard. The $7.8 million, two-story facility will include a training room, back up emergency operations center, meeting and office space, lobby area, recreation room, support rooms, restrooms, storage space, dining room, kitchen area, workshop and physical fitness room. It will also meet all the necessary disability, essential facility and building codes. The second floor will provide living space for 10 personnel per 48-hour shift.
The design incorporates traditional El Segundo elements such as brick, and includes environmentally-friendly provisions like solar paneling. Fire Station 2 is expected to be completed by summer 2009.
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A SUNNY OUTLOOK FOR BRITISH TELECOM
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On February 8, BT British Telecom welcomed Britain's HRH Price Andrew, The Duke of York, to its North American corporate headquarters in El Segundo to celebrate the groundbreaking of a solar power project, which, when completed, will be among the largest of its type in Southern California.
Once the system becomes fully operational by late this summer, BT expects to reduce carbon emissions by 642,000 pounds (more than 290 metric tons) annually as well as decrease its overall power costs for the site in future years. According to Environmental Protection Agency figures, the reduction in carbon footprint is equivalent to powering more than 150 average-sized California homes for 12 months. The system has qualified for rebates under the California Solar Initiative.
BT's solar power system is designed to maximize energy production, with the vast majority of the system's approximately 2,000 solar modules mounted on top of a state-of-the-art, elevated single-axis tracking system.
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POWER PLANT GETS EDISON GO-AHEAD
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Southern California Edison (SCE) has inked a 10-year power purchase agreement with El Segundo power plant owner NRG Energy, Inc. to provide 550 megawatts of additional power at the beachside generating station, it was announced on March 7.
The high-efficiency, gas-fueled facility is expected to be online by June 1, 2011 and provide power for about 400,000 homes, helping shore up reserve energy throughout the basin during peak usage periods when blackouts or brownouts have occurred in recent years.
The new generating units--which will replace two retired stacks that are being demolished--will utilize an environmentally-friendly air cooling system.
The system will reportedly burn 30 percent less natural gas, with lower emissions and greenhouse gases as well as reduced potable water usage.
It will also start up quickly, reaching up to 60 percent capacity in just 10 minutes and full capacity in an hour or less.
While providing a new source of electricity in a region that badly needs it, the plant will also generate anywhere from $3-$6 million in annual utility user tax revenue for the City of El Segundo.
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STAY IN THE KNOW
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The popular "News Links" feature, which debuted on our website www.elsegundobusiness.com last fall, continues to be a valuable one-stop resource for locating important news items about business in El Segundo.
From the latest aerospace contract details to Wall Street earnings and landmark commercial deals, News Links is a quick and convenient way to stay up-to-date and in-the-know on El Segundo.
The public is also invited to post its own News Links to be included on www.elsegundobusiness.com (subject to approval).
The section also conveniently includes RSS capabilities to add to your RSS or SML reader or as a feed to your own website.
So when a new article is posted, you or your audience will be automatically notified.
Check it out today and be sure to send us feedback to tell us what you think at: feedback@elsegundobusiness.com
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POLL: What is your favorite aspect of doing business in El Segundo?
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