California's building fewer homes, Korean American National Museum in limbo, and more

The American Society of Civil Engineers Metropolitan Los Angeles Branch is seeking nominations for the 2024 ASCE MLAB Project Awards. Eligible submissions were completed between January 1, 2023 and December 31, 2023. Airport terminals, seismic retrofits, new parks, telecommunications - all are eligible as long as they wrapped up work in the previous calendar year. You have until May 16 to submit a nomination: https://www.ascemlab.org/project-nomination-form

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The Biden-Harris administration announced $20.5 billion in federal funding for transit systems across the country, with the money earmarked for operations, upgrades to existing facilities, planning for new transit lines, and improved access for seniors and riders with disabilities. The Los Angeles area will receive $603.4 million in funding, the fourth largest distribution in the Country following the New York, Chicago, and Washington D.C. regions.

Here's what we're reading this week:

Boyle Heights residents say new Mathews Street park misses community mark "A month after the multimillion-dollar pocket park opens, reception is lukewarm" (Boyle Heights Beat)

Puma Makes Hollywood Deal With David Simon’s Bardas "Puma plans to move into 6344 Fountain in 2025.Puma plans to move into 6344 Fountain in 2025. rendering courtesy of Bardas investment GroupPuma is going Hollywood.To expand its presence and grow in the United States, the German apparel brand announced a plan to open the Puma Studio in Los Angeles in early 2025. The company secured a deal to lease about 23,000 square feet at 6345 Fountain Avenue with Bardas Investment Group" (Commercial Observer)

California’s most controversial housing law could get a makeover "Despite its use as a hardball negotiating tactic by aggressive developers, no project has broken ground, much less finished, as a result of the builder’s remedy. That’s partially because relatively few developers are willing to make use of the confusingly-worded law for lack of legal certainty." (CalMatters)

California is building fewer homes. The state could get even more expensive "Perhaps the biggest factor — and one hitting across the country — is the high cost of borrowing. Rising interest rates not only make it more expensive for Americans to buy a home, but they add additional costs for developers who must shell out more money to build and manage their projects. " (LA Times)

The year of the ‘mansion tax’: Hundreds of millions raised, but a chill to L.A.’s luxury market "Proponents say the tax generates crucial funding to address L.A.’s housing crisis, and they’re right. In its first year, Measure ULA has raised roughly $215 million, according to the L.A. Housing Department....Critics, including many L.A. real estate professionals, claim the tax has hampered the market — not just luxury home sales, but also multifamily developments and commercial properties, since the tax applies to all property sales above $5 million. They’re also right." (LA Times)

Outcry Grows As LA's Korean American Museum Hangs In Limbo "Past designs included apartments. The latest one, inspired by the architecture of a hanok or traditional Korean house, does not. It’s not clear how the changes in designs or the removal of housing from the master plan will affect the lease agreement. Asked about the status of the lease, the City Attorney’s Office said it had no comment." (LAist)

How the Purple Line is making history "Picking up where the Purple Line currently ends at Wilshire / Western station in Koreatown, the project will add seven new stations in some of LA’s most popular (and crowded) destinations such as the Miracle Mile, Beverly Hills, Century City, and Westwood. When the project is complete, Angelenos will be able to travel between downtown Los Angeles to Westwood in only 25 minutes." (The Source)

99 Cents Only to close down all stores "The company, which was founded in 1982, operates 371 stores across California, Texas, Arizona and Nevada." (KTLA)

Eyes on the Street: Parthenia Place Walk/Bike Project Nearly Completed "Parthenia Place's bike/walk improvements are open now, though landscaping is anticipated to be completed by this Fall. Additional connected projects coming soon." (Streetsblog LA)

Public transit instead of 405 traffic? First, Bel Air homeowners want a word "Los Angeles has few driving experiences more soul-crushing than sitting in your car as it crawls down Interstate 405 during rush hour. So commuters may have been understandably enthused when transit officials began exploring a public transit line across the Sepulveda Pass....But how the project is completed is now in contention: homeowners in Bel Air and Sherman Oaks are demanding a slower monorail project unlike other mass transit projects around the US and some students and progressive organizations are demanding a faster subway system that could accommodate more passengers." (LA Public Press)

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