The Riverside Angel Summit 2021

Let’s start with an important deadline you might not want to miss: the Riverside Angel Summit 2021. The registration for the summit closes four days from now, i.e., September 10, 2021. We wrote an article about the important dates in the upcoming two-month-long Riverside Angel Summit. To register directly, you can go to the event page here.

The industrial and Commercial Logistics Sector Heats Up in the Inland Empire.

Back to the week’s happenings about the startups and startup funding we covered in Startempire Wire’s news section. We reported how Duke Realty (DRE), a $10B industrial real estate company bought an important logistics and distribution property in the Inland Empire.

In another development related to heating the e-Commerce logistics market in the region, Amazon announced it would open a fulfillment center in Victorville in 2022. In addition, the company said it would also open another fulfillment center in Ontario in the same year.

The Inland Empire has one of the most sought-after industrial and commercial leasing marketplaces. This shows up in the investment strategy of realtors and the industrial leasing data of Inland Empire. For example, DRE, one of the most active realtors in the region, has its Southern California portfolio surpassing 17 million square feet.

The housing market heats up.

Realm Group announced it would open Magnolia Flats, a project with 450 new rental units in Riverside near Tyler Galleria on the housing front.

“Magnolia Flats will be one of the largest new multifamily projects in the Inland Empire this housing cycle,” said Andrew Sinderhoff of Land Advisors, one of the deal’s brokers. 

We also covered that Ontario Ranch recently passed Irvine Ranch as SoCal’s new home hub. Why Ontario Ranch? Well, a quote by the senior marketing director for Brookfield Residential gives insight.

One More Grant for the Chaffey College

Chaffey College is bagging one grant after another. The latest one is a $3.2 million state funding to build a welding training facility at Fontana. Last week we reported that Chaffey got a grant of $1.3 million from the James Irvine Foundation. The grant was meant to upskill Inland Empire’s youth and provide technical training and paid internships through Fontana’s Industrial Technical Learning Center (InTech). 

Startempire Wire’s editorial team plans to dig into the grants and funding proceeds philanthropists and organizations funnel to Chaffey College. Along with grants it regularly receives, Chaffey college obtained a historic $25M gift last month from author and philanthropist MacKenzie Scott.

Lastly, we couldn’t ignore that Assemblymember James Ramos secured $1 million in state funding for a job training program. The grant is meant to train people for jobs related to property management and maintenance services. Once again, Chaffey College will serve as the delivery partner for this program.

You can read the grant’s details and how it will be used here.

If you’d like to dig into the news from the previous weeks, head over to the Weekly Roundups we published.

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Links to News Published this Week

• Duke Realty buys property in the Inland Empire as demand for modern distribution space soars.
• Magnolia Flats: 450 New Rental Apartments Coming Soon in Riverside
• Chaffey College gets $2.9M state funding to build a welding training facility at Fontana
• Amazon fulfillment center comes to Victorville bringing 1k+ jobs to the city
• Ontario becomes California’s homebuilding hot spot
• Assemblymember James Ramos secures $1M in state funding for Inland Empire residents