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AIDS Healthcare Foundation Sells Hollywood Property to Hotel Developer

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AIDS Healthcare Foundation Sells Hollywood Property to Hotel Developer

HOLLYWOOD (Curbed LA) — The AIDS Healthcare Foundation, a local nonprofit that has often squared off against developers, has sold one of its Hollywood properties to a developer who plans to build a hotel on the site.

The developer, Jayesh Kumar, is seeking a handful of city approvals to erect a nine-story hotel on the site off Hollywood Boulevard and La Brea Avenue, including permission to build taller than the site’s zoning would normally allow.

Ironically, in the city’s 2017 election, AHF introduced a ballot measure called Measure S that was aimed directly at these kinds of projects.

The organization’s president has blamed tall buildings and luxury housing for gentrification and high […]

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Business

Faring Seeking $375M in Construction Financing for WeHo Mixed-Use Project

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Faring Seeking $375M in Construction Financing for WeHo Mixed-Use Project

WEST HOLLYWOOD (Commercial Observer) — Faring is seeking $375.2 million in construction financing for Robertson Lane , its mega mixed-use development in West Hollywood, Commercial Observer has learned.

The five-year, floating-rate lending opportunity is being marketed by Cushman & Wakefield ’s Rob Rubano , Brian Share , Ernesto Sanchez , Joseph Lieske , Becca Tse and Keith Paden , according to an offering memorandum shared with CO. Officials at C&W declined to comment.

Sources said the deal hit the market on Tuesday.

When completed, the 1.92-acre project— located at 652 North La Peer Drive , at the edge of Beverly Hills—will include a 5-star, 182-room hotel, a private members’ club with 19 guest rooms and high-end retail, restaurant, office and banquet space. The development will also feature a three-level subterranean […]

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Development

Planning Commission Thwarts Appeal of Homeless Housing on La Brea

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Planning commission thwarts appeal of homeless housing in Fairfax

Department of City Planning A rendering of The Pointe on La Brea development. A neighborhood group’s appeal against a 50-unit homeless housing development at La Brea and Willoughby in Fairfax was unanimously denied by the city planning commission on Thursday.

Commissioners disagreed with the reasons for the appeal and expressed dismay that a permanent supportive housing project had been delayed because of it.

“When you go out and see people who are homeless, and you complain that the city’s not moving fast enough,” this is the problem, said Commissioner Dana Perlman.

The La Brea Willoughby Coalition, which filed the appeal, told commissioners the project’s developer violated their right to “due process,” claiming that they were not properly notified of the project and had not had adequate time to voice […]

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Affordable Housing

City Council Member Introduces Push for LA to Develop Social Housing

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Mike Bonin, City Council - Photo from mikebonin.com

LOS ANGELES (Urbanize LA) — The City of Los Angeles could be getting into the housing development game, according to a motion recently introduced by Councilmember Mike Bonin.

SVA Architects Citing a study from the California Housing Partnership and Southern California Association of Nonprofit Housing, Bonin notes that Los Angeles County needs to add more than 500,000 units of affordable housing simply to meet existing demand from low-income renters.

Given the scale of the current shortfall of low-income and mid-range workforce housing, Bonin contends that the region will never address its needs by relying solely on private sector builders to developer affordable housing through tax credits, subsidies, and zoning incentives.

Instead, Bonin proposes the development of social housing – housing that is both built and owned by the government. But rather than the housing projects […]

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