|
TUESDAY, JULY 24, 2012
5:30 p.m.
Chiefs of Staff Reception
Takami Restaurant & Elevate Lounge: 811 Wilshire Blvd., Suite 2100, Los Angeles
|
|
THURSDAY, JULY 12
11:45 a.m.
EXECUTIVE COMMITTEE
(Open to Executive Level Members Only)
Special Guest: The Honorable Mike Feuer, California State Assembly (42nd District)
|
|
FRIDAY, JUNE 29
9:00 a.m.
PUBLIC SAFETY, HEALTH & HOMELESSNESS COMMITTEE
(Open to Executive and Business Advocacy Members Only)
Topics: Prisoner Realignment (Assembly Bill 109); Community Care Facilities Ordinance
Special Guests:
Lieutenant Ken McWaid, Los Angeles County Probation Department; Assistant Sheriff Cecil Rhambo, Los Angeles County Sheriff's Department; Captain Bill Hart, Los Angeles Police Department; Alisa Orduna, United Way of Greater Los Angeles
|
|
Tony Duplisse, Equity Residential; Bill McGregor, The McGregor Company; Fran Hughes, John Aaroe Group; Deborah Beveridge, East West Bank; Carol Schatz, CCA; Patrick Spillane, IDS Real Estate Group; Hal Bastian, Downtown Center Business Improvement District; Yuval Bar-Zemer, Linear City
There’s No Place Like Home: Downtown L.A.’s Housing Rebound
Nearly 200 of the city’s top developers, bankers and business leaders attended CCA’s panel discussion on housing earlier today. Held at the Sheraton Los Angeles Downtown Hotel, the luncheon focused on the continuing transformation of Downtown Los Angeles’ housing market since 1999. While the city’s core was not immune to the national downturn, the market is restructuring, projects have changed hands or been repositioned, and the area is moving forward in a way that prompted several to say that they are “bullish” on Downtown.
Representing the real estate development and finance sectors, several of the panelists observed that Los Angeles now has a truly dynamic, 24-7 urban center. The broader investment community is beginning to understand what Downtown’s nearly 50,000 residents already know firsthand: the employment, cultural and entertainment offerings are the best in the entire Los Angeles region.
Several panelists noted Downtown’s status as a massive employment center, with nearly 500,000 jobs. Key to capturing and building upon this mostly-daytime population has been the explosion of dining and nightlife venues in the past several years. Downtown’s multitude of transit access points has also enabled the development of the type of transit-oriented housing projects that are so sought-after today.
As testament to the strong demand for urban living, there is actually a shortage of condominium supply in Downtown. This market imbalance is due, in part, to the financial industry’s general hesitance to lend on new condominium projects. However, the apartment sector is particularly strong, and the money is flowing again.
CCA thanks our panelists Yuval Bar-Zemer from Linear City; Deborah Beveridge from East West Bank; Tony Duplisse from Equity Residential; Richard K. Green from USC’s Lusk Center in Real Estate; Fran Hughes from John Aaroe Group; Bill McGregor from The McGregor Company; and Moderator Patrick Spillane from IDS Real Estate Group for their participation in this afternoon’s discussion. Finally, the event would not have been possible without the generous sponsorship of UPS.
|
|
 CCA testified before the Los Angeles City Council, in support of the proposed Figueroa and Olympic Signage Supplemental Use District. The Fig & Olympic Sign District will tie together existing sign rights and complement the development around L.A. Live and Staples Center, adding a sense of excitement and urbanity to Downtown’s southern gateway. After a process that played out over many years, the sign district was unanimously approved. Staff Contact: Vice President of Legislative & Legal Affairs, Anne Williams.
CCA participated in the first meeting of the City of Los Angeles Housing Element Task Force this week. Last updated in 2008, the Housing Element of the city’s General Plan is the city’s primary policy document on housing. It assesses the city’s overall housing needs and will establish the policies and programs to meet those needs for the next eight years. Staff Contact: Senior Director of Legislative & Legal Affairs, Anh Nguyen.
|
