Tony Trutanich Jr. said he wants to maintain the nostalgic maritime décor at his 65-year-old Redondo Beach seafood restaurant, but he recognizes the aging waterfront district around it needs to catch up with the times. That hope took a blow when Redondo Beach voters passed Measure C to block the city’s $400 million waterfront redevelopment plan.
As Arts District property owners look ahead, many are landing fat paychecks from developers keen on razing or redeveloping old warehouses, while lessees are finding themselves forced out.
With the Gannett Co. bid for Los Angeles Times parent tronc Inc. having fallen by the wayside, local eyes have turned to biotech billionaire Patrick Soon-Shiong, tronc’s second-largest shareholder, as a potential savior for the institution.
Donald Trump’s only development in Los Angeles, the Rancho Palos Verdes golf course he purchased in 2002 and poured more than $250 million into fixing up, struggled to live up to revenue expectations amid the 2008 recession and tumult in the golf industry.
Determined to cling to Venice’s counterculture despite the need for a corporate-scale workforce, Snapchat has opted to pick off properties here and there rather than consolidate into a single space.
Artists have flocked to Inglewood for decades, drawn by low rents at warehouse and commercial spaces, but changes are afoot that might put upward pressure on rents.