Builder's Remedy project upsized, California high-speed rail aims to lay track in 2026, and more

Accounting giant KPMG is on the move from its home of 10 years in Downtown Los Angeles - and expanding its L.A.-area presence.

In Summer 2026, KPMG will splits its offices at 550 S. Hope Street into two different locations - space one block north at the U.S. Bank Tower on 5th Street and a new office roughly 11 miles southwest in El Segundo.

"Expanding our presence to two offices in both Los Angeles and El Segundo provides exciting visibility in our local market," reads a statement released by KPMG. "Both offices are centrally located and feature a modern and attractive open-office layout, top-tier amenities, enhanced technology, and more collaboration space. We look forward to continuing to serve our clients with excellence in this vibrant market.”

CoStar reports that KPMG will lease 70,000 square feet of space across three floors of the U.S. Bank Tower and 50,000 square feet at the Plaza at Continental Park in El Segundo. The firm currently leases 88,000 square feet of space at Hope street.

Hopes to speed up construction the proposed Dodger Stadium gondola were dashed this week, when California State Senator Scott Wiener removed a provision from SB 71 which would have accelerated the timeline of any environmental lawsuits filed against the project.

The project, pitched by former Dodgers owner and real estate developer Frank McCourt, aims to build an aerial gondola which would ferry passengers from Union Station to the Dodger Stadium parking lot (which McCourt still owns) via Chinatown.

Jon Christensen, a founder of the Los Angeles Parks Alliance, released a statement thanking Wiener, City Councilmember Eunisses Hernandez, and Los Angeles Mayor Bass. The project has faced pushback from residents of the Chinatown neighborhood, as well as organizations such as the California Endowment.

Here's what we're reading this week:

Exclusive: Matt Construction Changes CEOs "Santa Fe Springs-based Matt Construction lures Brian Saenger from The Ratkovich Co. to take over as chief executive." (LA Business Journal)

South Pasadena Secures Over $740K in Grants for New Pocket Parks "These grant funds will be utilized for the construction of two new pocket parks: Grevelia Pocket Park and the Dr. Beatriz Solis Memorial Park located at Berkshire Pocket Park." (South Pasadenan)

Two stairways are required in L.A. apartments. What does that have to do with the housing crisis? "Advocates say it would be easier and cheaper to build on smaller lots, and that could lead to more family-sized apartments in the city." (LA Times)

L.A. Council Committee Approves Step toward Eliminating Parking Requirements "Off-street parking at new developments is not going away. If the city doesn't require parking, developers will still build parking." (Streetsblog LA)

Employees are back, bosses say. In California? Not so much "In the week that ended Aug. 20, the average office population was 48.3% of full occupancy in Los Angeles, Kastle said Tuesday. Attendance was 41.8% in San Francisco and 49% in San Jose. " (LA Times)

Trade Issues Give Developers Pause "A study conducted by UCLA and Allen Matkins indicated that more than a third of California developers are pausing or canceling projects because of trade and supply chain issues." (LA Business Journal)

How ADUs could help Californians break into homeownership "The goal, supporters say, is to encourage more affordable ownership opportunities in a state where just 15% of households could reasonably afford to purchase the median-priced single-family home, according to the California Association of Realtors." (LAist)

L.A. has enough rental subsidies to end veteran homelessness. Why aren’t they being used? "Los Angeles housing authorities have more than enough federal rental subsidies to provide housing for all of the county’s estimated 3,400 homeless veterans. But more than 4,000 HUD-VASH vouchers remain stuck in a complicated bureaucracy while units built expressly for veterans can stay vacant for a year or more." (LA Times)

Airbnb wants LA to allow more short-term rentals to 'protect jobs' but unions are split "When Airbnb recently launched its campaign to drum up support for more short-term rentals in Los Angeles, it said the effort would produce taxes that would help solve the city's budget crisis and save city employees' jobs....But labor organizations are split on the effort that's being pushed by the so-called 'Save Our Services' coalition, which is touted as being community-based but whose spokesperson is an Airbnb representative. The coalition proposes loosening an L.A. law to allow a limited number of people to rent out second homes as vacation rentals. Currently, the city limits short-term rentals to primary residences." (LAist)

Lawmakers urge $1-billion annual investments to save high-speed rail "During a news conference Monday, the California High-Speed Rail Authority’s chief executive said the project was at a crossroads and needed funding commitments." (LA Times)

California High-Speed Rail announces accelerated timeline for milestone work "The lack of track having been laid has been a major point of contention for opponents of the project, including current Transportation Secretary Sean Duffy. After the Department of Transportation announced it was pulling more federal funding for California High-Speed Rail, Duffy criticized the delayed process....Industry experts and supporters of the California High-Speed Rail have pushed back on the notion, arguing that track-laying realistically happens late in the overall construction process, and is an easier endeavor than building bridges and underpasses, or navigating the clerical and legal challenges that have plagued the project. " (KTLA)

Proposed Builder’s Remedy Project Increases Height to 36 Stories "The project at 125-129 South Linden Drive was previously proposed as a 19-story structure containing 65 housing units, 73 hotel rooms and a restaurant. On Aug. 27, the developer announced that the contemplated project is now 36 stories tall, with 185 new residences and 80 hotel rooms." (Beverly Hills Courier)

Council Approves Limited Affordable Housing Pilot Program for Off-Site Construction "The pilot program is limited to 1,000 units and set to expire on September 30, 2025, with staff directed to return with more data for potential renewal." (SMDP)

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