Month: September 2021

Luciana Barroso and Matt Damon with the seven bedroom house (The Agency Real Estate, Getty) Matt Damon’s Pacific Palisades estate found a buyer after the actor cut his asking price by $3.1 million to $17.9 million. Damon listed the property in January for $21 million and chopped the price in early August, according to the…

Gov. Gavin Newsom, Senate President Pro Tem Toni Atkins, and Senator Scott Wiener (Getty, Senate.gov) Nearly three years after Gov. Gavin Newsom’s inauguration promise to launch “a Marshall Plan for affordable housing,” the cavalry has yet to arrive. California is still short millions of homes and Los Angeles is ranked the second least-affordable city in…

Ribbon co-founders Shaival Shah and Wei Gan (Ribbon, iStock) The Southeast-focused homebuying startup Ribbon will expand nationally after announcing a $150 million fundraising round this week. The company, which enables individuals to make cash offers in competitive housing markets, will now push into the Midwest and West Coast, CEO Shaival Shah said in an interview.…

A sign posted outside of a Los Angeles deli (Getty) Time is running out for unvaccinated Angelenos to hit their favorite bar or nightclub. Los Angeles County is set to issue a vaccine mandate on Friday for employees and patrons of bars, wineries, breweries, nightclubs, and lounges, according to the Los Angeles Times. The rule…

Sola Impact’s Martin Muoto and 11001 Vermont (LinkedIn, The Architects Collective) Developer Sola Impact is planning its latest multifamily project in an Opportunity Zone, this one in Westmont. The proposed development isn’t from another apartment complex it has in the works. The firm wants to build an 84-unit complex at 11001 S. Vermont Avenue, according…

1101 Flower Street in L.A. with  Tony Lombardo of Lendlease and Zhang Xifang of Oceanwide. Xifang reportedly resigned in July 2021. (Google Maps, Lendlease, Oceanwide) Chinese real estate conglomerate Oceanwide Holdings has some explaining to do. The developer has been ordered to appear before a federal court over the enforcement of a $42 million judgement…

Renderings of The Star (Marathon Communications) Behold the Star, a $500 million proposed office tower on Sunset Boulevard in Hollywood. Renderings for the project show an upside down egg-shaped 22-story glass and steel tower with four levels of landscaped gardens, according to the Los Angeles Times. Designed by Chinese architecture firm MAD Architects, plans also…

The Boyd Street fire in May, 2020 (Getty) A captain for the Los Angeles Fire Department has sued the owner of a warehouse and operators of a vaping supply shop in Downtown L.A. over a May 2020 explosion, claiming it left him with “devastating third-degree burns.” Victor Aguirre and his wife, Claudia Aguirre, filed the…

The site for the future Trojan Storage (Google Maps) Trojan Storage is looking to build a 167,000-square-foot self-storage facility in the San Fernando Valley, expanding in a Los Angeles market that is the biggest in the nation in that sector. The firm is planning the complex at 14201 South Paxton Street in Arleta, according to…

The Real Deal has officially hit the airwaves with the first episode of Deconstruct, a new podcast analyzing the financial, political and cultural force that is real estate. If you’ve joined the ranks of back-to-the-office commuters, close your eyes, pop in your Airpods and let TRD reporter and Deconstruct host Isabella Farr handle the rest.…