Sunday, March 16, 2014

Amargosa Creek Site Medical And Commercial Plan

The City of Lancaster is planning for future development iof an area of 150 acres from Ave K to Ave L between Sierra Hwy and 10th Street West. The site is called Amargoso Creek site, and they plan it to be mixed used development in this area. This would include office retail, medical facilities, (Kaiser Hospital), and a potential for Hotels, and residents. They also anticipate areas for people to linger (Cities words). This will likely be a park and or plaza area. The medical facility part seems to be getting the most attention. They have three phases with a full build out within 25 years. The Hospital will be in the southeastern part of the Amargosa site. Phase one will be a medical campus with a proposed support building containing offices. This part is expected to be completed by 2015. Phase two is where they plan to add 100 to 150 bed hospital with an expected opening on or before 2018. The final phase will depend on the areas growth, but may include a 50 bed expansion and additional office buildings. This part will be completed by 2020 or 2030. Contingent on this overall plan of the Hospital and Commercial sites will be the backbone infrastructure. The commercial phase one will go along with the medical facility. They anticipate the commercial demand will be general merchandise, specialty retail, full service dining, with a pedestrian area, shopping district and outdoor space likely a major plaza. Commercial phase two will be an area of a build out of 10th west and Ave K-8. Phase three commercial is a flex commercial in the northeastern part of the quadrant. This is the final commercial phase which will build upon the prior commercial and medical phases. It may move faster as the area needs it and as the growth demands. This area is looking and will start to look much better. This area has been vacant unused land with the surrounding area being built up. If you own land in or around this area you should see an uptick in prices. It may also be an area to buy and hold as well. Contact us at for land opportunities here and elsewhere.

Tuesday, March 4, 2014

Should You Transfer Property to an LLC or Corporation for Protection and add Business Insurance?

Many property owners own their property under a trust, but most property is owned just as an individuals. You may need an attorney to address this issue thoroughly as an LLC or Inc. can protect you but the corporate vale can be pierced depending on how you operate your small business. There are a number of reasons to transfer your real estate into an LLC or corporation, primarily for your personal economic protection. You will not want you personal assets exposed due to an investment. For a number of reasons, you may choose to transfer real estate or other property into an LLC. An LLC or corporation alone may be enough protection, but they are no full proof. A corporation can also be looked at differently for tax reasons, so a simple LLC maybe a better vehicle for the small business or family land owner. Owning and operating a small business adds a lot of responsibility and accountability. Although you may operate with the utmost care and provide the best quality and services, a client or customer may perceive you did them wrong. This is where liability insurance can come in handy. Who Needs Business Liability Insurance? According to sources almost 8 out of 10 small businesses are a sole proprietorship or a partnership. This can make you personally liability. Additionally there is a misconception that an LLC or Corporation has protection,, but you can be personally liable if you guarantee a loan, personally injured someone even by negligence, acted irresponsibly, or illegally. Added protection would be Business Liability insurance. An LLC’s vale can be pierced if you don’t separate the use of your bank account. You can’t use the LLC funds as a personal piggy bank. Business liability insurance can protect your small business in the event of a lawsuit for personal injury or property damages. It usually covers the damages from a lawsuit along with the legal costs. Depending on your business needs, liability insurance can be purchased in many forms. The main type of insurance you would need is Commercial General Liability policy or General Insurance. This insurance can protect you from injury claims, property damage and possible advertising claims if in error. So a combination of an LLC and liability insurance will give you added protection and piece of mind. You can talk to your accountant or attorney for the best advise.