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August 2, 2021

All Eyes May Be On Tokyo, But LA Is Making Moves For 2028 Games

[In-Person] Join March & White Design co-founder Elliot March at JW Marriott at LA Live Aug. 10

As the athletes in Tokyo begin their second week of the 2020 Olympic Games a year late, the wheels are turning to make the next Olympics on American soil a success.

In preparation for the 2028 Summer Olympics in Los Angeles, Mayor Eric Garcetti announced Twenty-Eight by ‘28, a list of 28 Metro transit projects that he wanted to complete in time for the Games. A majority of those projects were already scheduled to be ready by 2028, but for those that were not, a 2028 completion would shave years off their original timelines.

All Eyes May Be On Tokyo, But LA Is Making Moves For 2028 Games

One of those projects, a rail line through the Sepulveda Pass that would link LA’s Westside to the San Fernando Valley, was originally expected to open in 2033. Though the exact details of the project are still being considered, what is known…

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Western Drought Has Developers Planning Ahead, And Low-Hanging Low-Flow Fruit Is Already Picked

In 2015, during California’s last years-long drought, then-Gov. Jerry Brown mandated that Californians cut back water use by 25%. The effort more or less worked, resulting in residents reducing their water use by 24.5%, but it had lasting effects. Water use today is 16% lower than it was in 2013. 

As much as 90% of the western U.S. is in some kind of drought. In some areas where the water scarcity is dire, local officials are responding by turning off the tap.

In Northern California’s Marin County, the water district is considering banning new homes that require hookups to the water system, the San Francisco Chronicle reported. In Utah, one town had grown “as remote workers flocked in from the West Coast and second homeowners staked weekend ranches,” but it instituted a construction moratorium on new homes that would hook up to the town’s water system, The New York Times reported.

Western Drought Has Developers Planning Ahead, And Low-Hanging Low-Flow Fruit Is Already Picked

For a number of reasons, much of Southern California isn't at that point yet. Most of the area has so far avoided having a drought emergency declared, and many water providers in the region aren't expecting water shortages.

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This Week's LA Deal Sheet

This Week's LA Deal Sheet  

Hudson Pacific Properties and Blackstone are planning a ground-up studio facility in Sun Valley.

The price tag for the project, to be called Sunset Glenoaks Studios, is anticipated to be approximately $170M to $190M. The new facility will have seven soundstages, ranging from 15K to 21K SF, 120K SF of production support space and parking for 450 cars. The development is expected to be…

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Shorenstein Sells San Diego Office Building In Life Sciences Hub For $146M

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Shorenstein has sold a nearly 300K SF office complex in San Diego’s Sorrento Mesa for $146M.  The buyer was the Singapore-based Prime US REIT. The new owner is planning a series of upgrades to the…

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