Penske Media Corporation is moving to the other side of the 405.
Rendering by Gensler
This week, the Los Angeles-based publisher announced the relocation of its headquarters from a freeway-adjacent office building on Santa Monica boulevard to Lumen West L.A., the recently-revamped 1980s complex at 11355 W. Olympic Boulevard. Penske will occupy 125,000 square feet of space across seven floors in Lumen's east tower, using the space for the corporate offices of Variety, Billboard, Golden Globes, The Hollywood Reporter, Luminate, Rolling Stone, Deadline, Dick Clark Productions, Robb Report, WWD, SHE Media, and other publications. The space will also include a screening room, production facilities, music studios, and podcast studios.
“We have moved our Los Angeles headquarters to Lumen after visiting every leading contemporary office building across the market. Simply put, there just isn’t a better building for our teams and brands and for the future growth of our organization,” said Penske Media chief executive officer Jay Penske in a news release. “As our business has scaled over the last decade in California, it has left us with 4 different office towers, and thankfully, this transaction allows us to bring nearly 30 operating businesses under one-roof at Lumen.”
Fifth Season, a television production firm, has also leased 65,000 square feet of space at Lumen, which was redeveloped by McCarthy Cook and Northwood Investors. Lumen is billed as a 550,000-square-foot campus.
New Gelson's at the ground floor of the West EdgeWest Edge
Not far down the road at 12121 W. Olympic Boulevard, Gelson's has opened its first West Los Angeles store at the ground floor of the West Edge, the new mixed-use development just north of Expo/Bundy Station. The 33,000-square-foot store, designed by Shook Kelley, anchors the retail component of a project that also includes more than 200,000 square feet of offices leased by Riot Games and 600 apartments.
Reimagining “the Gelson’s experience” for its 28th full-service store, Southern California’s premier grocery brand has officially launched its first location in West Los Angeles. Located at 12121 West Olympic Boulevard on the corner of Bundy Drive, it serves as the anchor of West Edge, a mixed-use residential/office/retail development currently under construction.
More Gelson's locations are on the way elsewhere in Los Angeles - including a small format store at the ground level of a new mixed-use project in Toluca Lake.
The San Fernando Building in Downtown Los Angeles, which was converted to housing through the adaptive reuse ordinanceWikimedia Commons
With the office market continuing to struggle nationwide, the White House has announced several policy changes which will open up $45 billion in funding to convert vacant commercial spaces across the country into housing. That timing couldn't be better for Los Angeles, which is leaning on the upcoming citywide adaptive reuse ordinance to hit its housing element target of zoning for at least 255,000 new homes.
On a more somber note...
Artem Tepler, founder of development firm Schon Tepler, dies at 41 I first began exchanging e-mails with Artem in 2015, when he was excited to show off a new project he was building on Culver Boulevard in Del Rey. In the years since, Schon Tepler has produced a lot of work that has shown up on Urbanize, and Artem built up an impressive following on the platform that I still refer to as Twitter. He was an open book whenever I reached out with questions, and it was always clear that he absolutely adored his daughter. Based on the outpouring of grief I've seen since the news hit on Thursday, it sounds like others who came to know him had the exact same impression. Rest in peace. (TRD)
Here's what we're reading this week:
The Higuera Street Bridge is Open! "Replacing the bridge included a number of enhancements, such as additional travel lane (there are now two in each direction,) new bike lanes, a new entrance and bike ramp connection to Ballona Creek Bike Path, wider sidewalks, traffic signal upgrades at Jefferson Boulevard, new pavement, striping, and retaining walls, as well as landscaping and irrigation." (Culver City Crossroads)
Vision Zero And More LAist chats with new LADOT GM Laura Rubio-Cornejo (LAist)
L.A. taken over by giant box houses that favor size over style "Modern homes don’t have time or money for a turret, overhanging eave or stained-glass windows. Sloped ceilings, skylights and other superfluous accents take away from the bottom line — the largest amount of square footage possible for the cheapest possible construction price." (LA Times)
Eyes on the Street: Santa Monica Extending Michigan Greenway "Santa Monica's 700-foot long 20th Street bike/walk project isn't long or expensive, but it is very strategic. The facility is expected to open early to mid 2024." (Streetsblog LA)
California High-Speed Rail proposes modification to L.A.-to-Anaheim segment....and...House Republicans attempt to block funding for California High-Speed Rail (KTLA)
Rendering of a station on the California High-Speed Rail systemKilograph
LA City Council Members Reject Rent Freeze Extension, Propose Lower Increases "Instead, the council’s housing committee voted to advance a plan that would lower allowable rent increases scheduled for Feb. 1 from 7% to 4%. A rule that allows an additional 2% for landlords who cover gas and electric costs will remain, bringing the highest allowed increase to 6% in some cases." (LAist)
Where L.A. City Is Quietly Removing Bike Lanes and Adding On-Street Car Parking "Six streets where LADOT added motorist parking at the expense of bicyclist safety. And the city wonders why traffic deaths keep increasing?" (Streetsblog LA)
LA City Council Members Reject Rent Freeze Extension, Propose Lower Increases "Instead, the council’s housing committee voted to advance a plan that would lower allowable rent increases scheduled for Feb. 1 from 7% to 4%. A rule that allows an additional 2% for landlords who cover gas and electric costs will remain, bringing the highest allowed increase to 6% in some cases." (LAist)
As robotaxis descend in LA, officials already see trouble "City officials believe robotaxi companies will seek permits to do business in Los Angeles soon, and they are looking to the experience of San Francisco, where the vehicles have stopped traffic and interfered with first responders." (LA Times)
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