Wilshire Grand snags a new tenant, Small landlords struggle, and more

Pacific Western Bank is setting up shop at L.A.'s tallest* building, Cushman & Wakefield announced this week.

The subsidiary of PacWest Bancorp recently inked a a lease for 8,010 square feet of office space on the 26th floor of the Wilshire Grand Center in Downtown Los Angeles, as well as 3,500 square feet of retail space for a bank branch.

The Wilshire Grand's owner Hanjin International Corp. was represented by John C. Cushman, III, Steve Marcussen, and Dillon Moscone in the transaction, while Kennedy Wilson Brokerage represented PacWest Bancorp.

With the impending arrival of Pacific Western Bank, there will only be two floors remaining available for lease at the Wilshire Grand, per a statement from Cushman & Wakefield. The 73-story, 1,100-foot-tall tower - billed as the tallest structure west of the Missisippi River - includes a 900-room Intercontinental Hotel, roughly 350,000 square feet of offices, and 45,000 square feet of retail space.

Here's what we're reading this week:

A New Study Shows Older Adults Are The Fastest-Growing Population Among People Experiencing Homelessness "A new report from the United Way of Greater Los Angeles shows this group makes up one-quarter of the county's unhoused population. However, a large portion of adults over 50 are experiencing homelessness for the first time." (LAist)

A massive fire unleashed a flood of toxic runoff, triggering an environmental disaster "The toxic spill that plunged thousands of Los Angeles County residents into misery late last year was scarcely unique, however. It was just the latest in a long string of environmental disasters that have plagued the 15-mile Dominguez Channel — an area where effective enforcement has always been muddled by industry recklessness, official neglect, overlapping government jurisdictions, and a hydrology prone to flooding and offensive odors." (LA Times)

How governments worsen poverty in California "California’s politicians talk a lot about the poverty conundrum and are forever advancing proposals to put a little more money in the pockets of poor families. However, at the same time, state and local government practices often exacerbate the tribulations of being poor in California." (CalMatters)

EPA restores California’s authority to set its own auto pollution rules "The decision, announced by the U.S. Environmental Protection Agency, reverses an attempt by the Trump administration to block the state from using its vast market power to push the auto industry in a greener direction. The 2019 revocation of its waiver from the federal standard put California and the states that follow its lead on pollution limits into regulatory limbo, casting a mood of uncertainty across the automobile industry." (LA Times)

LA's Small Landlords Were Promised Help If Tenants Stopped Paying Rent. Why Some Still Have No Relief "Landlords are finding themselves shut out because government rent relief programs require tenants to be involved in the application process. In some cases tenants refuse to apply. Others earn too much to qualify. Some small landlords say waiting in vain for rent relief has left them financially wrecked." (LAist)

Heads up: bus shuttles replace trains on A and E Lines in DTLA this weekend for Regional Connector work "Heads up! Metro will be connecting the A Line (Blue) and E Line (Expo) to the Regional Connector project, and rail service will be temporarily suspended at 7th St/Metro Center and Pico Station from 9 p.m. Friday, March 11, through close of service Sunday, March 13." (The Source)

WeHo cul-de-sacs could be developed "The considerations have come as a result of California Senate Bill 9, which effectively eliminates R1 single-family zoning in the state. The city of West Hollywood has also been mandated by the state to add an additional 4,000 residential units within its borders by 2029. With space at a premium, communities made up of single-family homes are in a precarious position." (Beverly Press)

Clean California “Beautification” Grants Include Bike and Pedestrian Improvements "Last week, the administration announced the release of $296 million in grants to 105 California communities for a wide range of projects, which can include trash removal, landscaping, and art installations – and pedestrian and bike path improvements." (Streetsblog LA)