Pacific Real Capital Partners, an investment group which manages large format retail-based properties, announced this week that it has moved its corporate headquarters to the Century Plaza Towers complex in Century City. Likewise, the company has brought on former Gensler Principal Annmarie Plenge to run its in-house Architectural Design Studio.
Here's what we're reading this week:
L.A. City Council votes to dramatically expand tenant protections ahead of deadline "The new policy will establish a minimum threshold for eviction for tenants who fall behind on rent and require landlords to pay relocation fees in some situations where a large rent increase would result in the tenant’s displacement." (LA Times)
We’re hosting an Open House on Jan. 21, 24 and 26 to share more info on Sepulveda Transit Corridor project "Metro will host three community open houses January 21, 24, and 26 for the Sepulveda Transit Corridor Project, which will build a heavy rail line or monorail between the San Fernando Valley and West Los Angeles area." (The Source)
UCLA Student Council adopts resolution in support of heavy rail, rejecting all monorail alternatives (Streets For All Twitter)
Downtown LA Hotel Used To Help Combat Homelessness Will Remain Open After All — For At Least A Year "Instead, the L.A. Grand Hotel now will remain open until Jan. 31 of next year, according to Zach Seidl, the communication director for L.A. Mayor Karen Bass. Seidl said the city is looking into master leasing the hotel."
A new California housing law has done little to encourage building, report says "Once seen as the death knell for single-family-home neighborhoods in California, a new law meant to create more duplexes has instead done little to encourage construction in some of the largest cities in the state, according to a new report published Wednesday." (LA Times)
A powerful nonprofit owns apartments for poor tenants. Why are some tenants trapped in their rooms? More on the ongoing issues facing tenants at an AHF-owned property in Downtown (LA Times)
Ex-Councilmember Jose Huizar to Plead Guilty in LA City Hall Corruption Case "In a plea agreement signed Tuesday, prosecutors will seek no more than 13 years in prison for the council member's role in a bribery case that involved developers." (NBC 4)
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