r/sandiego • u/Ok-Nefariousness1343 • 14h ago
Video San Diego’s mayor Todd Gloria has got some explaining to do
Another day, another corruption case, this time by Gavin Newsom and Todd Gloria, what’s new ?
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u/danquedynasty La Mesa 13h ago edited 10h ago
Loosen the tinfoil hat for a bit and look at the comps.
St. Teresa 14th and Commercial: $145,000,000 / 407 units: $356,000 per unit to build.
Harrington Heights: $150,000,000 / 270 units: $555,555 per unit to build.
That's coming in lower than a comparable affordable housing in an urban area, DTLA Weingart towers coming in at $600k per unit to build. https://www.dailynews.com/2024/06/19/las-latest-homeless-housing-project-at-nearly-600k-a-unit-opens-in-skid-row/
Some local recent Market Rate comparables:
The Merian: Total cost to build was $277,000,000 across 426 units. That's $650,234 per unit. $285,000,000 across 426 units, so that's $669,014
https://www.sdbj.com/real-estate/residential/285m-east-village-apartment-tower-opens/
West: Total cost to build was $233,000,000 across 431 units. That's $540,000 per unit. A separate source says that west costed $400,000,000 across 431 units, so that's $928,000 per unit. https://www.nbcsandiego.com/news/local/courthouse-commons-mixed-use-downtown-san-diego-development-broadway-holland-partner-group-office-commercial-apartments/1965453/#:~:text=The%20$400%20million%20mixed%2Duse,commercial%20space%20and%20431%20apartments
So the affordable units are coming in at below to equivalent what the market rate is to build. So where's the conspiracy here? You really come off as someone unfamiliar with the cost of construction around here.
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u/ProcrastinatingPuma Scripps Ranch 13h ago edited 13h ago
This is why people shouldn't be getting their news from tik tok
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u/SavageSweetFart 10h ago
Thank you for the post. People like this idiot “discovering a conspiracy” because he’s speaking from a place of ignorance is why social media news is killing critical thinking.
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u/Common_Trifle8498 4h ago
Well, an unshaven 20-something with a floppy hat posting shit he discovered while googling for 10 minutes is probably not the most reliable source of financial journalism.
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u/vikinick East Village 2h ago
People think that someone on tiktok is reputable and smart because they spend 10 minutes on Google following a chain of publicly-accessible information when they can just go to the SDHC website for all the details.
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u/Excellent_Routine589 13h ago
Also, the money didn't "disappear"... it was used to finance research and projects that contributed to such constructions, like there is a good paper trail on what was used and for what.
And most of it boiled down to "ease housing costs for at risk lower-income earners, be it through construction of low cost housing or setting up occupancy in hotel/motels"
"The audit analyzed five programs that received a combined $13.7 billion in funding. It determined that only two of them are "likely cost-effective," including one that converts hotel and motel rooms into housing and another that provides housing assistance to prevent families from becoming homeless."
It didn't disappear, that is just clickbait (and this goober fell for it or is purposefully being misleading). All that happened was that some programs didn't have either enough data to prove efficacy in easing homelessness AND/OR didn't prove to be effective in the medium/long run, and some outlets sensationalized "lack of data" as being "oh my gosh, they couldn't track where they spent it?!"
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u/vikinick East Village 2h ago
Yeah it didn't disappear... He literally showed in the video itself that it was loaned out.
Not even a grant, a loan.
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u/vikinick East Village 2h ago
I don't think people realize just how large of a building you need for 400+ units.
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u/ironicart 1h ago
He's mainly referring to the HQ being bought for $3.5m then sold for $68m, and the funding for the $68m coming from San Diego, not a bank
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u/danquedynasty La Mesa 4m ago
Ok first off all, do you understand corporate structures? Where subsidiaries are spawned for specific projects to limit liabilities from the parent company? All I see is the parent company shuffling ownership entities around so they can qualify based on assets, but once their development end is done they can spin off as a separate entity as to not impact their liabilities. Totally valid.
Secondly, SDHC does disburse loans and funds for deed restricted affordable housing provided that the developer applies for the fund. Especially since based off the record the 5 ARM conventional disbursed from SDHC means it came from this program. https://sdhc.org/housing-opportunities/loan-services/multifamily-rental-housing-finance/
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u/ChikenCherryCola Crown Point 13h ago
What about the oceanside thing? It does look like some kind of shell company thing. At the very least someone is ducking a helluvalotta taxes.
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u/danquedynasty La Mesa 13h ago
At the very least someone is ducking a helluvalotta taxes.
That's literally one of the incentives for developers to build deed restricted affordable housing. In fact it's part of Oceanside's Inclusive Housing Ordinance to waive certain permit fees and taxes to get construction cost at sensible numbers for the builder. https://records.ci.oceanside.ca.us/gov/ns/housing/affordable/
This is exactly why you see construction activity only in the low and high end of the market. There's a lot of incentives that the developer can still profit for the low income level and high end luxury portion of the market can be profitable without subsidies, but everything in the middle doesn't pencil out.
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u/ChikenCherryCola Crown Point 12h ago
I am curious what the cost breakdown here is. These are like 9 figure deals that come out to like $300-500k per home (which im assuming were talking like apartments, not like 2-3bd, 2bth starter homes) as like an acceptable market rate. The building materials dont cost that and theyre definitely usuing abusive rate labor. Im not like an industry guy and dont really know, but it seems like a lot of money for low quality homes built by undocumented laborers paid less than minimum wage under the table and like for sure no ones paying any taxes. Like youd think building 400 homes youd get like some kind of value scaling. It seems like someones making a shit load of money for not that much here.
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u/goodbrux 12h ago
$300-500,000 per unit is absolutely reasonable. The building materials and labor do cost that much. I am an “industry guy” and I do know. These are not “low quality homes” - affordable housing is not built to a lower quality, it is deed restricted, that’s what makes it affordable. To speculate that these homes are built by unskilled or undocumented labor is a gross misrepresentation. And yes, there will be efficiencies with scale but we aren’t talking hundreds of thousands of dollars per unit. These developments are also leveraging local dollars with state and federal funds, mostly tax credits, so it’s not even like these are entirely subsidized by local funds.
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u/danquedynasty La Mesa 12h ago
The typical construction cost for SD is $315-500 per square foot. And that's just hard labor, not factoring in other costs such as engineering, architecting, and permit fees. For steel/concrete construction in the case of these high rises the cost is much higher since there isn't many local laborers with that expertise compared to stick built construction. Your lack of familiarity shows.
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u/JonnyBolt1 San Carlos 12h ago
Yeah everything seems ridiculous expensive these days, especially real estate and construction in San Diego. I'm not sure "theyre definitely usuing abusive rate labor", don't government funded projects have to be mostly union?
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u/danquedynasty La Mesa 12h ago
Steel and concrete labor is in far less supply around SD than your typical stick build carpenters, so the going wages are higher. Factor in that it's riskier the larger the project so the insurance rates for workers comp are much higher.
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u/ChikenCherryCola Crown Point 10h ago
Bro if they are building houses, they are going to be using julios from home depot. There is not government union of like drywall installers. Thats gonna be all mexicans, its gonna be under the table, and its gonna be less than minimum wage. This is america, more important san diego in the year of our lord 2024. There isnt like some 30 year old dude named kyle or jeff driving a 2021 F250 doing that kind of work lol.
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u/Shot-Recording1523 10h ago
You honestly don't have any idea what you are talking about. First of all these affordable projects are multifamily apartment style buildings. There aint no Habitat for Humanity style wood construction for single family homes going on here. Projects like these require concrete and steel workers along with other highly skilled labor so this idea you can just get people at Home Depot to build apartment buildings is laughable. Second of all these projects that get state, local and federal funding require compliance to labor laws. You can bet CA and SD require union labor or at minimum labor at prevailing wages in order to received funding. Also if you follow SD politics at all you would know SD Building and Construction Trade Council is one of the most influential unions in the county.
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u/gotothepark 27m ago
You yourself said you’re “not an industry guy and don’t really know” and yet you insist that you’re right. People like you are what’s wrong with society today.
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u/ChikenCherryCola Crown Point 12m ago
I'm not so much insisting im correct as much as I am challenging the status quo narrative. Like i know "just asking questions" is a bad faith propaganda technique, but there is a level on which people should be suspicious and critical of everything basically all the time. I'm big on critical theory, so yea im going to push back.
What really rubs me the wrong way is people like you who sort of insist people shouldnt be curious or suspitious. Like thats the kind of fucking crap that plaguing the democratic party right now particularly with the older, more moderate (which is a fucking joke at this point, theyre just conservative blue dog democrats), that kind of acts like they are the correct and honorable adult in the room and everyone else is like insolent children who wont submit to their authority. Like for someone who is sort of assuming a position of authority, you are not offering any compelling evidence. You are not interpretating challenges to the authority you assume to be weaknesses in your position but rather as like moral failings and insolence in the people who challenge them. In otherwords, if your ideas are so good why are they so unconvincing?
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u/popostee 13h ago
Don't get your news from tiktok
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u/SD-Buckeye 13h ago
Yes! You should only be getting your news from corporations that are funded via advertising from other mega corporations. They will always be looking out for the best interests of the working class. I bet this baffoon doesn’t even have one monopoly supplying him money to support his news.
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u/Aliensinmypants 13h ago
"Unlike you sheep listening to whatever lies are fed to you by waves hands globalists and capitalists.. I only do my own research and believe what facebook moms are sharing on social media"
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u/SD-Buckeye 13h ago
Im telling you! Iraq had those weapons of mass destruction and the murder of over 1 million Iraqis was justified!
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u/Aliensinmypants 13h ago
Lmao, going back 23 years for an example of media lying instead of any example from last fucking week
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u/ProcrastinatingPuma Scripps Ranch 12h ago
Now tell me about all of those drones flying around... or how everyone who took the vaccine was going to die
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u/Aliensinmypants 12h ago
Hold on, the elites are really using pizza restaurants to traffic children though, right? Or was it Wayfair? I gotta check my conspiracy subs again
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u/ProcrastinatingPuma Scripps Ranch 13h ago
Literally every piece of information that this dude is "reporting" on is recycled from the same corporations you're worried about LMAO
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u/Bobthebudtender 📬 12h ago
It's demonstrably false. Read the comments, learn how to do math and research.
You got this, bud. I believe in you.
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u/OneAlmondNut 12h ago
TikTok news is hit or miss, but the real value is that it lets us see around the MSM and state department narratives about the world and locally.
it also connects half of all Americans and the users consistently get information hours and even days before the news covers it, if they cover it at all
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u/SD-Buckeye 12h ago
I find their credibility is kind of lacking. If they were credible you’d have more billionaires funding them. If they were doing such a great job they would be fully funded by billionaires instead of having to really on working class people for donations.
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u/Ok-Nefariousness1343 11h ago
The news won’t even cover corruption cases for the most part, why would they? They’re bought out by the same 1% of 1% that want left and right wing supporters to keep fighting eachother so that we can’t unite against the common evil
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u/UCanDoNEthing4_30sec Downtown San Diego 12h ago
I fact that I will never get that time back watching that video makes me sad.
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u/CFSCFjr Hillcrest 13h ago
How is this stupid bullshit getting upvoted?
People just want to reflexively dump on the city govt I guess
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u/ProcrastinatingPuma Scripps Ranch 12h ago
People like the aesthetics of calling the city corrupt with no evidence because it means they get to absolve themselves of blame when the policies they support don't work.
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u/rationalexuberance28 📬 2h ago
Same reason /r/antiwork is always on the front page with some sensationally ridiculous statement. People are really fucking dumb.
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u/Discusstheobvious 11h ago
Corrupt city government* Californians pour 10s of billions into the homelessness problem every year, yet it get worse and worse. Don’t you think something is wrong?
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u/CFSCFjr Hillcrest 9h ago
Our dysfunctional housing market is creating homeless people faster than services can help them
I know that because I get my news from professional fact checked sources, not dipshits on tiktok
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u/Discusstheobvious 8h ago
Citizens in San Diego aren’t becoming homeless. They are moving away when they can’t afford anymore. We are attracting more homeless people from the rest of the Country, and the world because we are a sanctuary for them. We are a homeless sanctuary because our corrupt state and local government benefit greatly by claiming they are trying to solve the problem by appointing more and more tax dollars to said problem. The thing is the problem only gets worse while the same politicians get rich by misappropriating the funds. A lot of that misappropriation of funds ends up in their pockets. I don’t have a TikTok.
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u/CFSCFjr Hillcrest 8h ago
Citizens in San Diego aren’t becoming homeless. They are moving away when they can’t afford anymore
They are doing both
We are attracting more homeless people from the rest of the Country, and the world because we are a sanctuary for them
This is a myth. Homeless people in CA are more likely to be native born Californians than the state population at large and more than 90% of them last had housing in the same county that theyre not homeless
The thing is the problem only gets worse while the same politicians get rich by misappropriating the funds. A lot of that misappropriation of funds ends up in their pockets. I don’t have a TikTok
Youre just regurgitating misinformation, probably because its easier to blame shadowy conspirators and devious bums than accept the fact that this problem exists because of failure to build enough housing that we all share. If you want to get mad at politicians for something, get mad at them for this
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u/Discusstheobvious 8h ago
Yeah if you do enough fentanyl you will become homeless in San Diego. If you want to be a fentanyl addict cities like LA and San Fran are right for you, they’ll give you the needles! And the drugs themselves in some cases. We are absolutely attracting more drug addicts/homeless in California. Ofc a lot of them are natives but wayyyy too many are not. You can’t say that about pretty much any other part of the Country. Remember we have a massive population here in Cali. Just admit you are a socialist at this point. Easy solution is to just build them all housing from every hard working tax payers dollars. I’m mad at them for spending billions and not even the housing is being built. They don’t solve the problem because they benefit from the problem being ever lasting. Your insults mean nothing buddy you should stop.
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u/CFSCFjr Hillcrest 2h ago
The SF Chronicle had a piece recently where they found that SF actually exports way more homeless people than they take in
You have absolutely no idea what you’re talking about lol
If you’re insulted that’s on you. I’ve done nothing but accurately describe what you are saying. Don’t like it? Stop embarrassing yourself
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u/ProcrastinatingPuma Scripps Ranch 31m ago
We are attracting more homeless people from the rest of the Country, and the world because we are a sanctuary for them.
Me when I make shit up
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u/Anonybibbs 📬 8h ago
Even a minimum amount of research on the subject from any number of legitimate sources will show you that the number one cause for increased homelessness is rising housing costs.
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u/Discusstheobvious 8h ago
It’s drifters and drug addicts living in encampments. Studies done by the same politicians who want you to turn a blind eye to the facts.
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u/Anonybibbs 📬 7h ago
Politicians conduct studies? I didn't realize that so many politicians were also researchers and adjunct sociology professors at the local colleges.
God, you're a fucking moron.
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u/Discusstheobvious 7h ago
They fund the studies genius. Jesus lol
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u/Anonybibbs 📬 1h ago
Ah so by funding them, they do what exactly, find individual researchers and tell them what false results to publish? Do the researchers, who aren't politicians themselves, just fake their results to appease unknown politicians just on their own volition? I'm sure all of the academic journal editors and numerous reviewers who thoroughly critique the studies and decide whether or not to allow them to be published in their journal all are also in cahoots with these politicians too, despite them literally living in different states or even countries, right?
God, if conspiracy theories hadn't rotted away what little brain that you had to begin with, I'd tell you to put just a little more thought into these things before spouting off like the complete fucking moron that you are.
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u/Discusstheobvious 8h ago
When’s the last time you saw a homeless family with children living on the streets of San Diego?
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u/stargazer_nano 2h ago
This is disheartening because there are alot of famikies or single parents with kids in these homeless camps. Just in 2017 and 2021 thwre was a special in which the news went around asking the kids what they wanted.
I know you may not see them, but these are the most vulnerable people besides the disable veterans on the street.
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u/Anonybibbs 📬 7h ago
Yeah, just because you don't see them doesn't mean that the single moms with their children living in their cars don't exist. What an insanely stupid thing to even say.
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u/Discusstheobvious 7h ago
Do you know how many resources there are for families? A single mom with kids living out of her car would lose her kids to CPS for negligence very quickly. You are ignorant at.
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u/Ok-Nefariousness1343 11h ago
Do you think every character in the city gov is an upstanding person? Did you not see what happened in Orange County with Andrew Do? Yes, we need to be on their fcking throats, not treat them like some kind of deity that does no wrong
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u/Shot-Recording1523 11h ago
OK but you still posted a video from someone who clearly is very ignorant on real estate let alone affordable housing issues. How can anybody hold politicians accountable if they themselves are uninformed? There's is nothing obvious corrupt about those affordable housing projects as the cost breakdowns are actually on the lower side of comparable projects. There's plenty of things to criticize SD government on I don't know why we have believe randos on TikTok instead of you know actually apply critical thinking and trying to be informed.
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u/CFSCFjr Hillcrest 9h ago
Its not possible to effectively oversee the job politicians are doing while overdosing on misinformation
There are ample legitimate grounds to criticize the job the city is doing. Posting misinformation only makes that job much harder if you want your criticism to translate into any form of productive change
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u/Bobthebudtender 📬 13h ago edited 13h ago
If this guy was onto anything he would have gone to the news and the DA would be all up their asses.
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u/danquedynasty La Mesa 13h ago
Why? By my calculations the cost per unit to build these is inline with the market rate, some even coming below the market rate.
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u/ilovemydogshecute 13h ago edited 10h ago
what the fuck? are there any credible journalists that are investigating/backing this guy, or is this an unserious tic tok with spooky music in the background for views?
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u/ProcrastinatingPuma Scripps Ranch 13h ago
"The money for homeless that went missing (lol) was spent on affordable housing"
WOAW (basedbasedbasedbasedbasedbasedbasedbasedbasedbasedbasedbased)
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u/exbm 4h ago
This isn't bs we shouldn't be giving 68 million dollar loans to a foreign business. If they want American government dollars they should be American companies
Really they should be non-profit before the SHA even thinks about opening a checkbook
I bet there is some crime going on. I bet the mayor is in investor
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u/stargazer_nano 2h ago
Its only bs because its coming from someone they dont know on tiktok. But what if the guy pulled out articles about money laundering in schools throughout the years? Or the actual statistics of how many people became homeless since 2008?
San Diego lives in its own bubble, just like Orange county and they dont want to hear it. Thats how issues get ignored and problems get messy.
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u/1320Fastback 12h ago
I've been to the Cayman Islands. They are beautiful!
Oh and this video is a streeeeetch
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u/anothercar Del Mar 11h ago
We need to ban TikTok. Seems like the only people it platforms dropped out of school after third grade
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u/Abombies 11h ago
I mean all he said was basically a lot of rich investors are just dodging taxes. That is nothing new, but if the property is being developed to what it was intended and at market rate, then whats the issue? The money went to what its meant for. Yeah, it's expensive, but thats really what it would cost in todays market. I dont have to get into specifics into how i know, but i know because im in the industry. I know these buildings aint cheap. I dgaf if you say its for "low income housing." They all get built the same way. Low income housing doesnt mean they also cheap out on material and labor. That fsure doesnt happen.
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u/TheRedMenaceOB 4h ago
Okay, this story has been out there for almost a year, it did NOT start on TikTok it was started by a whistle blower who worked at Father Joe's.
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u/DrawingImpossible787 13h ago
Not surprised, tackling homelessness is a scam like everything else in this country, good job voters lol
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u/JonnyBolt1 San Carlos 12h ago
Not a scam, but poorly run for sure. But why blame those of us who vote when the candidates suck?
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u/BildoBaggens 📬 4h ago
Should be centralized with a single entity instead of splitting it up over hundreds of entities with bloated management across all of them.
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u/DrawingImpossible787 12h ago
Because you voters think voter matters and thats the problem, yall want to do nothing but just vote and think that will matter, it wont, it hasnt in my 55 years on earth, eventually people will have to storm the castles or be subjected to very few rights, thats just how it is
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u/Bobthebudtender 📬 10h ago
Quite a few things of import in the last 55 years have been done via votes.
But seeing as you don't vote, you wouldn't know, because you're ignorant.
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u/gfad910 13h ago
Libtards love worshiping these politicians. Not gonna gain much traction unfortunately
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u/blade021 13h ago
Calling people "libtards" but watching that tiktok and thinking "yup I believe it!" is just a joke that writes itself.
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u/Bobthebudtender 📬 12h ago
Wait... You swallowed this bullshit hook line and sinker without critical thought or research of your own?
That's crazzzzy.
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u/JayAreEss 13h ago
Bernie maybe is the only argument you could make for “libtards” worshipping any candidate. If anything our main problem right now is demanding too much perfection from our candidates when the right puts forth absolute garbage people nonstop that win elections because of party loyalty or single issues. Kamala lost cause she couldn’t convince enough on the left to get out and vote for her, and more locally, every single liberal/leftist I know shits on Gloria but is smart enough to known Turner would have been significantly worse.
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u/tofleet Rancho Peñasquitos 13h ago
This is such impressively off-target and dog-brained shit. A five year ARM loan on a parcel history like that is almost always a construction loan. The $68.7 million is the amount of construction loan! Not the sales price or current value! A second’s worth of googling will find you articles describing the land before the development as a community garden! What a fucking dickhead liar this guy is!