Month: March 2021

Downtown Women’s Center CEO Amy Turk. (Getty, Google Maps, DWC) The Downtown Women’s Center, a housing and social service organization, wants to build a 97-unit housing complex next to its Skid Row headquarters. The project is a joint venture with Daylight Community Development and GTM Holdings, according to Urbanize. The development site is at 501…

Dana Hollister and her Silver Lake home (Zillow) Restaurateur Dana Hollister has listed her sprawling Paramour Estate for $40 million. The four-acre Silver Lake compound sits on the highest promontory in the area and the 22-room mansion is the neighborhood’s largest home, according to the Los Angeles Times. The compound at 1923 Micheltorena Street is…

Inventory has hit historically low levels while home prices surpassed $300,000 for the first time ever and continue to rise. (iStock) Home price growth hit levels not seen in 15 years. The S&P CoreLogic Case-Shiller U.S. National Home Price Index jumped 11.2 percent year over year in January. That’s up from the 10.4 percent gain…

Oaktree Capital CEO Jay Wintrob and Cerberus Capital CEO Steve Feinberg (Oaktree, Cerberus, iStock) After raising billions of dollars to spend on commercial real estate, distress investors are having a difficult time spending it. Despite projections of massive discounts in real estate prices, few have arisen. Banks have yet to write down loans and commercial…

In this installment of the REInterview, TRD’s Hiten Samtani sat down with founder and CEO of VTS Nick Romito. He noted the office sector’s reputation as a steady, stable, unsexy source of income, and explained how all that could change. VTS began as a video-tour company (literally “View the Space”) and is now a cloud-based…

Los Angeles Planning Commission approves Hollywood zoning changes. (iStock) With population and jobs expected to rise in Hollywood, the Los Angeles City Planning Commission approved a comprehensive update of the area’s zoning and land use regulations. The vote sends the Hollywood community plan — one of 22 community plans in the city that make up…

Activision Blizzard CEO Bobby Kotick. (Getty, Activision) It’s game over for Activision Blizzard at a Boston Properties-owned office in Santa Monica. The video game giant is leaving its 214,864-square-foot headquarters and hunting for new digs. The company rented two buildings at Santa Monica Business Park and chose to leave as its 10-year lease expired, according…

Knock’s Sean Black and Jamie Glenn (Knock, iStock) Knock, a startup that helps people buy new homes before selling their old ones, is the latest proptech company to explore going public. The company has hired Goldman Sachs to help advise it on a possible IPO, Bloomberg News reported. Knock is considering both a traditional initial…

(iStock) Policy makers are worried that the world may be heading for another housing crash. According to the Organization for Economic Cooperation and Development, home prices in its 37 wealthy member countries hit a record in the third quarter of 2020, the Wall Street Journal reported. Prices rose nearly 5 percent over 12 months, the…

The rail project had its genesis in the late 1990s but has faced numerous delays. (iStock, Getty) A main contractor working on the California high-speed rail project informed the state of an expected two-year delay on a 65-mile section of the rail through Kings County. Spanish construction firm Dragados pinned the delay on the state’s…