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NEWS & UPDATES |
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February - 2003 Westside Market Update |
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| The New 34 story MGM Plaza opening in June 2003. MGM is relocating most of its office from Santa Monica to this new project. | |
| $300 Million Century City Project Moves Forward: 800,000 sf development proposed for replacing the ABC Entertainment Center. Trammel Crow Co is opting for a twin 15 story towers. Cost $300,000,000. Goes before the Los Angeles City Council in April. | |
| Santa Monica Boulevard construction slated to commence. A three year program from Sepulveda Boulevard to Century City to eliminate the land mass that divides little Santa Monica from Big Santa Monica Boulevard. Many shop owners concerned about effect on their business. Some shops closing or relocating.. | |
| Culver city is turning off 720 of its 3,769 street lights as a cost saving measure. They will put a bag over the ones that are turned off. | |
| Fisherman's Village redevelopment concept supported by County Design Board. 48,000 sf $30,000,000 upscale plan call for more retails shops, restaurants, and more boater facilities. Built in the 1960's. 300 space underground garage included. | |
| Watt Industries proposes a land swap for the VA Property at Wilshire and Sepulveda. | |
| Venice Project mixed use development nearly two blocks on the east side of Lincoln between Lake Street and the alley just north of Palms. Khalsa and Associates (KAA) the developer two free standing six story and apartments - twenty per cent would be low-income on the sites of the Rite-Aid drug store, Ralph's grocery store, and Ross Dress for Less. 75 foot high buildings would incorporate these tenants. In work for 4 years, 280 apartments and 197,000 sf of retail with 1,537 above and underground parking. Lincoln blvd would need to be widened by 4 feet. | |
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HOSPITALITY -- First Hotel in a Decade Opens in Beverly Hills BEVERLY HILLS - Gemstone Resorts , a hotel company that manages and asset manages hotels and resorts, opened the first new full-service hotel in Beverly Hills in a decade - the 49-room luxury Mosaic Hotel Beverly Hills. The hotel is located at 125 S. Spaulding Drive on the site of the former Beverly Hills Inn. |
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| Radisson LAX - 6225 Century Boulevard, Westchester plan to add 180 rooms in five-story, plus 475 space parking garage on Sepulveda between Century Blvd & 98th Street. In addition the developer is proposing a seven-story 2,115 space parking garage at the corner of 98th and Vicksburg Avenue. which would include 1,000 sf of retail and cafe space. Generates 3,200 more car trips per day but the City of LA Planning Commission staff has recommended approval. | |
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Corporate Offices 501 Santa Monica Boulevard, Suite 702 Santa Monica, CA 90401 Phone: (310) 458-4100 Fax: (310) 393-4750 Contact us by email at muselli@muselli.net |
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| Please note that the information provided above is from information we deem reliable but not guaranteed. Unless stated to the contrary Muselli Commercial Realtors was not involved as a broker in any of the above transactions. | |