Month: February 2023

Long Beach Mayor Rex Richardson and 5950 Long Beach Boulevard (Getty, Loopnet, Rex Richardson for Mayor) The city of Long Beach is set to get new modular homes and a new Project Homekey hotel-to-housing conversion as part of an effort to add more affordable and permanent housing options. The Long Beach City Council approved a…

Hudson Pacific Properties CEO Victor Coleman and 3400 Hillview Avenue in Palo Alto (Hudson Pacific Properties, CoStar) Don’t worry if Google or Amazon are cutting down on leasing. Think about the “next Google or the next Amazon” instead, Hudson Pacific Properties CEO Victor Coleman said on an earnings call this week. With layoffs occurring across…

Council members Nithya Raman and John Lee (Getty, Bernie Sanders, LA City Council) A progressive bloc in the Los Angeles City Council is claiming a win with the 15-set body set to make landlords who want to hike rents by more than 10 percent pay relocation fees, but a look at the numbers raises the…

A photo illustration of the late John Magness (Getty, LinkedIn/John Magness) John Magness, a development executive who helped transform the Inland Empire into a national logistics epicenter, died on Saturday after summiting a mountain in Argentina, the Southern California News Group reported. “John was an outstanding father, patriot and a man of faith,” Ross Perot…

221 S. Cliffwood Ave; Andrew and Ellen Bronfman Hauptman (Getty, Google Maps) Seagram heiress Ellen Bronfman Hauptman and her husband Andrew Hauptman are making a name with their Los Angeles trophy home collection. Along with being a former owner of the Chicago Fire Major League Soccer team, Hauptman is known for founding  Andell Holdings, a…

Nelson Rising (Rising Realty Partners) Nelson Rising, a developer who mastered the art of political relationships and the science of skyscraper building, spearheading megaprojects such as Downtown Los Angeles’ U.S. Bank Tower, the neighborhood of Playa Vista and the revitalization of San Francisco’s Mission Bay, has died at 81. Rising died Thursday of complications related…

SLH Investments’ Leo Pustilnikov, rendering of 1021 North Harbor Drive (Getty, City of Redondo Beach, Kevin Scanlon) The city of Redondo Beach has thrown a punch at developer Leo Pustilnikov, who plans to redevelop a local power plant and a former marine aquarium next door into thousands of homes under the state builder’s remedy provision.…

Cityview’s Damian Gancman with LaTerra Development’s Chris Tourtellotte (Cityview, LinkedIn, Getty) Lenders have pulled back from making construction loans on ground-up multifamily projects in the city of Los Angeles since voters passed Measure ULA last fall to add weighty transfer taxes on commercial and residential sales over $4 million. Developers told TRD that securing construction…

TRC Retail’s Scott Grady (left), Stonefield Development’s Bob Pack, 1500 East Village Way (TRC Retail, Getty, LinkedIn, Stonefield Development) Developers seeking automatic housing approvals under the state builder’s remedy have swept into Orange, with two fast-track proposals to build nearly 600 homes. Newport Beach-based TRC Retail filed plans under the state housing provision to build…

Apartment Association of Daniel Yukelson; L.A. County Supervisor Kathryn Barger (Linkedin, County of Los Angeles, Getty) A county-run relief fund for small landlords should be operational within weeks, L.A. County Supervisor Kathryn Barger said on Wednesday. “This is where the bureaucracy is going to drive me crazy,” Barger, speaking to around 250 property owners, said…