Sorted by date Results 1 - 25 of 62
Los Angeles County Assessor Jeff Prang is reminding property owners that property tax relief is available for those suffering damage from the recent torrent of storms. For property owners who have experienced damage or destruction from these storms, they can apply to have the assessed value of their property – the value upon which their property taxes are based – reduced to reflect the damage. This property tax relief program is called the Misfortune & Calamity (M&C) program. "It's und...
Drollinger Properties has announced that former Gateway to LA PBID Executive Director Christina Davis has accepted a new role as the company's Chief Operating Officer. Christina, who came to Gateway to LA in 2022 after 17 years at the LAX Coastal Chamber of Commerce, said she is excited about her new role and looks forward to working with the Drollinger Properties team to continue serving its tenants and look for new ways to enhance the community. "I grew up in Westchester and I know how much Ka...
OPEN HOUSE SUNDAY, OCTOBER 29, 2023, FROM 12-5 PM. 2 BEDROOM/1 BATH BEAUTIFUL CONDO GROUND FLOOR IN CULVER CITY IN TARA HILLS. MOVE NOW ADDRESS: 4838 HOLLOW CORNER #316, CULVER CITY, CALIFORNIA 90230. PRICE $649,000. CALL BETTY ESCOBIO SOLOMON, DRE #00808524. CEL/TEXT (619) 954-6881 AND EMAIL: BROKERBETTY@MSN.COM...
After what can be characterized as a tumultuous year in the real estate market, Los Angeles County Assessor Jeff Prang announced the May 15 forecast for the 2023 Assessment Roll. The Assessor reported to the Board of Supervisors that taxable property values are anticipated to increase approximately 5% over 2022, marking 13 years of continuous growth. The May forecast projects the anticipated growth rate for the annual Assessment Roll, which closes in early July. The forecast is an important...
One of the biggest and fastest growing sports in America is Flag Football. Elementary Schools, Middle Schools and High Schools are all playing Flag Football and that is why Mar Vista Recreation Center is offering a Coed Summer Flag Football Clinic for boys and girls. The Clinic starts Saturday, July 8 and it will run for seven straight Saturdays to August 19. The time is set for 10 a.m. -12 p.m. The clinic will focus on the basic fundamentals of Flag Football, which includes flag pulling,...
With a construction loan now in hand, Related California is set to begin work in the coming months on a large mixed-use apartment complex at the intersection of Lincoln Boulevard and Broadway in Downtown Santa Monica. This week, the West Coast arm of Related Cos. announced that it had secured $385 million in construction financing from Bank of America for its 710 Broadway development, which was initially proposed in 2020. The project, which would replace a Vons and its parking lot, calls for...
After 25 years in Culver City, Sony Pictures Animation is on the move. In an e-mail to staff, Sony Pictures executive vice president of global real estate Craig Schwartz announced that in April 2024, Sony Pictures Animation, Imageworks, and Crunchyroll will relocate to a 225,000-square-foot space at the Wilshire Courtyard complex on the Miracle Mile. The Sony organizations will occupy four floors of the property, with a space that includes a central dining area, a coffee bar, a theater, and outdoor areas. Rios has been tapped to design the new...
A plan to redevelop the former site of a 99 Cents Only Store in the Triangle Center has been submitted to the Culver City Planning Commission. Bastion Development Corp., which bought the site at 12727 Washington Boulevard for $17.7 million in 2018, has proposed a mixed-use project which would include up to 144 studio, one-, and two-bedroom apartments and 19,100 square feet of ground-floor commercial space above two levels of subterranean parking for 187 vehicles, according to Urbanize LA....
Located across the street from the La Cienega/Jefferson Metro station, the project occupies an 11-acre property that was previously the site of a radio broadcast facility. In its place, Carmel Partners has built a sprawling mixed-use development that features more than 1,200 apartments and 100,000 square feet of ground-floor retail. Just over half of that ground floor space is occupied is occupied by a Whole Foods, which is set to open for business on August 31. The most visible element of the...
A unit of M.C. Strauss, based in Solana Beach, sold the Fox Hills Plaza at 6221-99 Bristol Plaza Parkway in Culver City, the Los Angeles Business Journal reported. The buyer was Bristol Parkway Propco, a Beverly Hills-based company led by Henry Shahery. The sale came out to $941 per square foot in an off-market deal. M.C. Strauss bought the 6-acre property for $2 million in 1976, claiming later it aimed to own it long term and operate it as a neighborhood shopping center. Both parties overcame numerous hurdles in closing the deal, according to...
By David Ganezer What was built on the former Norms restaurant site at Colorado and Lincoln Blvd at a cost of $40 million, is five stories tall and is pretty much devoid of people? Convinced that renters could and would pay top dollar to live ANYWHERE in Santa Monica, developers demolished the block of buildings between Colorado and the freeway 3 years ago and began to build like mad. Pack and stack apartment buildings now cover a neighborhood where traffic is constant. Developers completed the...
Driven in large measure by a robust housing market, Los Angeles County Assessor Jeffrey Prang announced the May 15 forecast for the 2022 Assessment Roll will be a 6% increase over last year and the added amount will exceed $100 billion for the first time ever. The May forecast is the anticipated totals that will appear on the Assessment Roll after it closes June 30. The forecast gives cities and others a blueprint for planning purposes on municipal budgets as well as funding for public...
Los Angeles County Assessor Jeff Prang along with other dignitaries is hosting the first in-person Homeowners' Resource Fair for the public since the pandemic hit two years ago. The Fair, free and open to the public, will feature information including, but not limited to, Accessory Dwelling Unit's or ADUs, Parent-Child Transfers (Prop. 19), property tax savings programs and what do to when a property owner dies, among other relevant topics. 2022 HOMEOWNERS' RESOURCE FAIR is this Saturday May...
By David Ganezer, Observer Staff Writer The owner of the Lincoln Center has proposed replacing the 1980's era parking lot and stores, with 521 residential units. The building would be 5 stories in height--around 65 feet. It would also contain 36,000 square feet of retain and restaurant space, 880 automobile parking spaces and 816 bicycle spaces. Balboa Retail Partners owns the complex and Cypress Equity Investments (CEI) is the development company behind it," explains one opponent. "CEI is also behind many massive developments in Santa Monica...
Work was recently completed on The Brick and The Machine, a new office complex across the street from the Kirk Douglas Theatre in Culver City. Located on the northeast corner of Washington Boulevard and Delmas Terrace, the mixed-use project replaced the former Bank of the West site with a three- and four-story building featuring 90,000 square feet of space and a landscaped roof terrace. Abramson Architects designed The Brick and The Machine, which also includes parking for 250 vehicles sits in a...
By Alyssa Erdley, Observer Staff Writer January 4, 2022 - Last night Santa Monica Audit Subcommittee Commissioner and Santa Monica native Marc Verville exploded the myth of a housing supply crisis in the state or the city. The crisis, Verville explained, is in the surge in real estate value. With a series of deeply researched graphs, Verville explained to the nearly 60 participants in the virtual meeting how the supply of housing in California has easily kept up with population growth. In Santa...
“Buy land, they’re not making it anymore.” – Mark Twain In a year distinguished by pandemic and economic issues, the residential market continued to trend high according to PropertyShark, a research source for real estate professionals and homebuyers across the U.S. The organization compiled its information by calculating median home sale prices to ensure an accurate picture of market conditions, as opposed to listing prices that reflect sellers’ wishes. Its expertise in the technolog...
By Alyssa Erdley News with Attitude Spurred on by Santa Monica City Councilmember Phil Brock, the City Council on Tuesday voted 5-2 to ask a Westside city association if they should join a lawsuit challenging the number of units they've been ordered to build by the state. The lawsuit, already filed in June by the Orange County Council of Governments (OKKOG), disputes the number of units decreed by California's Department of Housing and Community Development (HCD), saying the population growth...
A California man has plead guilty to rigging bids at public foreclosure auctions, federal court officials announced this week. Yama Marifat was indicted for conspiring with other real estate investors to rig bids when purchasing selected properties at foreclosure auctions in San Joaquin County between April 2009 and October 2009, according to court documents filed in Sacramento. His trial was scheduled to begin on August 17. The one-count indictment alleges Marifat and his co-conspirators carried out the conspiracy by agreeing not to bid...
By Miguel Covarrubias Gary Limjap at the Santa Monica Montana office of Coldwell Banker Realty, has listed a townhome for $999,000. Located at 1420 Princeton St., Unit 5, in Santa Monica, Calif., the approximately 1,300-square-foot townhome includes two bedrooms and three bathrooms. "Inside a well-maintained five-unit complex built in 1991, this bright and spacious townhome has been beautifully renovated," said Limjap. "Centrally located in the heart of Santa Monica, this home is just minutes...
Have you noticed more lawn signs than last year advertising apartments for rent? Well, you could be seeing a trend. Santa Monica rents have decreased over 10% since the Coronavirus lockdown began on March 19, 2020. This according to the website, Insurify.com. "A recent study found that over the course of the coronavirus pandemic, California cities experienced some of the greatest drops in rent prices in the nation," wrote Emily Leff, a spokesman for Insurify, in a press release. "Between March...
By Leonard “Guzz” Brophy IV In a blow to zero-growth extremists and to the benefit of a community suffering in a coronavirus-created economic downturn, the Santa Monica City Council voted 6-1 on Tuesday for the City to renew negotiations with a developer about building a mixed-use project on municipal-owned land in the downtown. This does not mean that the development that will bring much-needed revenue to City government and affordable housing to the people is a done deal, it just means the council didn’t want to restart negotiations with...
Venice Community Housing is redoing its headquarters to include, well, housing. The Rose Avenue Apartments, located at 718. E Rose Avenue, will include 4 stories and 35 apartments. 34 very low-income units are reserved for transitional-aged youth and persons who have experienced chronic homelessness - above parking for 17 vehicles. Plans call for a mix of studio and one-bedroom units, as well as a laundry facility, offices for supportive services, and a 2,500 square foot ground-floor space...
by Alyssa Erdley News with Attitude Between the State Senate and the State Assembly, nine bills are under consideration that would drastically change the balance of power regarding land use and zoning in California. Each bill seeks to solve the state's "housing crisis" with attacks against local zoning ordinances, in particular those that restrict some areas to single-family homes. Stripping local governments of their ability to decide their own physical appearance, these laws give the state government power to dictate higher density in every...
by Alyssa Erdley News with Attitude The State Legislature has been working hard to attempt to squeeze 1.8 million more units of housing into the state before 2029 by producing at least nine land-use proposals this year, each of which either enable, incentivize, or require cities to build more densely. Specifically, these bills end single-family-home neighborhoods. That is not an exaggeration. It is the stated goal of the proposed legislation. The authors of these bills and, presumably, the majority of state legislators who voted for them,...
