Per Curbed, Metro backed down on their misguided plan to build generic medical offices in Boyle Heights’ Mariachi Plaza. However, whereas Curbed is presenting the change of plans as a win for anti-gentrification forces, I think the jury is still very much out. Given that BH residents have been pretty happy to have affordable housing … Continue reading “And… Metro backed down”
Category: Development
Here’s a dumb idea: Medical office in Mariachi Plaza
Per Curbed, Metro LA is considering building a giant retail / medical office plaza with a ton of parking in Mariachi Plaza in Boyle Heights. Big bureaucracies come up with stupid urban planning ideas all the time, but this one is right up there. Consider: Mariachi Plaza is a beautiful public space, well-served by public … Continue reading “Here’s a dumb idea: Medical office in Mariachi Plaza”
It’s starting again…
Since January 1, we’ve started three new projects (9 units, 8 units, and 3 units). Always love to see them ripped open, so thought you would, too:
Some thoughts on the New Year
Just getting back to the office after a wonderful break and thought I’d take the opportunity to offer some thoughts and make some predictions on the LA market in 2015. Here they are, in no particular order: 1. Interest rates will rise, but prices won’t fall. Classic real estate finance math clearly shows that, all … Continue reading “Some thoughts on the New Year”
Why rents in Highland Park are rising so quickly
Obviously there is a bunch of controversy around the renovation of apartment buildings in Highland Park (“HLP”) by our company and others. So far, the reporting on this topic has focused on the human aspect without really getting into the root economic / political issues driving gentrification in HLP. To understand why rents are rising fast … Continue reading “Why rents in Highland Park are rising so quickly”
Seeing the big picture
One of my agents is working with a client on an interesting deal and running into a problem. The building itself is great – big, recently built, non-rent control, in an improving area, fair price. The problem is that the current owners don’t have their act together. Missing leases, conflicting estoppels, deferred maintenance issues. None … Continue reading “Seeing the big picture”
Update on Highland Park protest
The Eastsider has a nice summary of the protest NELA Alliance did against gentrification in Highland Park yesterday. I’ve already written about where we come down on this issue. Today, I just want to add that I am grateful to the The Eastsider, the commentors on the Eastsider, and to the protestors themselves for carrying … Continue reading “Update on Highland Park protest”
Some thoughts on rents going up in Highland Park
The last few weeks have seen a ton of interest / debate / protest about the rapid gentrification of Highland Park. We have been receiving media inquiries and I thought I’d take the time to share my thoughts here. We have learned a lot, both from our day-to-day business and also the reaction to our agent’s bike … Continue reading “Some thoughts on rents going up in Highland Park”
Why all us smirking hipsters are wrong about the Palmer fire
Have spoken with a ton of people over the past few days who are sort of happy Geoff Palmer’s partially-built apartment building burned down. Obviously being happy about a fire is kind of weird. But no one got hurt (that I know of) and many people loath Palmer’s buildings because they’re ugly and anti-social (in the … Continue reading “Why all us smirking hipsters are wrong about the Palmer fire”
Paying for Garcetti’s earthquake plan
Today, Mayor Garcetti announced the release of a major report on earthquake safety. The report addresses telecommunication, water systems, office buildings and, most importantly from our perspective, apartment buildings. The issue with apartment buildings is pretty simple. The city has roughly 16,000 soft-story apartment buildings. These are buildings whose ground floor structure can give way … Continue reading “Paying for Garcetti’s earthquake plan”