OCBJ SPECIAL REPORTS
Law Requires the Hospitals To Assume Social Obligation
More than a few of Orange County’s prominent hospital operators deliver something in addition to their standard healthcare: “community benefits.”
The Business Journal’s Jane Yu asked local bankers what community involvement means to their institutions. This week’s Q&A sheds light on the banks’ current engagement in Orange County beyond compliance with the Community Reinvestment Act, as well as their plans for this year and some of the challenges they see ahead. Executives also discussed some challenges they face in supporting the community. Here are edited excerpts of their responses.
43 Combine for $84.1 Billion, Mirroring Year-Earlier Rise
Commercial banks in Orange County continued to grow local deposits, notching another 8% increase over the year through June for a total of $84.1 billion.
Office, For-Sale Projects Eyed Alongside More Apartments
The development of the Platinum Triangle area in Anaheim is entering its second decade, and the 820-acre swath of land around Angel Stadium remains poised to be a hub of apartment construction.
Offices Could Join 1,600 Planned Apartments
Nearly 30 acres along a busy stretch of Jamboree Road in Irvine have sold over the past few weeks or are expected to soon, with plans for apartment and office development expected to start on the sites.
The Orange County office market, building on an already-successful 2014, is gaining momentum through the turn of the year.
The Orange County industrial market was tight throughout most of 2014, a sign that the region is in need of a significant amount of new construction and development projects on top of its current 253 million or so square feet.
The Business Journal’s Jane Yu asked local law firms whether the pace of associate hires has picked up in recent years after a long slowdown hiring in the industry following the recession. Yu also asked attorneys how they’re grooming young talent for their firms’ future leadership. Here are edited excerpts of their responses:
Attorneys Work With UCI Program to Boost Fine Arts
Put together a few attorneys sharing a passion for the arts and a local university that fosters artistic talent, throw in some creative thinking and readiness to provide support, and you’ll get Off-Center, a collective launched by a committee of local lawyers and educators in concert with University of California-Irvine’s art department.
Headcount Up 3.2%; More Make List Due to Growth
The biggest law firms in Orange County grew their workforces in 2014, breaking a two-year streak of cuts in attorney headcount.
Meetings and conventions venues, which host many events that involve guests eating and drinking, typically experience trends taking place at restaurants in the community, and Orange County is no exception. Local operators observed some similar patterns last year and expect many in common this year. The Business Journal’s Paul Hughes asked a sampling of venue executives about significant food and beverage trends and how the hospitality industry is responding to them in the meetings business arena. Here are edited excerpts of their responses.
Hotels Reach Beyond Big Groups to Meet Needs
Going “dark” in the meetings and conventions business is a bad thing.
Venues Get Creative, Find Niches to Home in On
Out-of-town groups that book rooms, meeting space, food and beverage, and an interesting evening event or two spend more than 80% of dollars spent on meetings in Orange County.
Up 1.3% As More Small Rooms Meet New Demand
Orange County hotels added little meeting space last year, but what they did bring online came creatively in a market where occupancy and room rates are growing.
Nearly three-quarters of the U.S. adult population—74% to be exact—fears the idea of speaking in public, according to a 2013 National Institutes of Health survey.