In a recent press release, Global investment firm Starwood Capital Group announced that respected industry veteran Khalif Edwards has joined the firm as a Managing Director in its Global Capital Raising and Investor Relations Group. Starwood Capital Group is a private investment firm with a core focus on global real estate. According to the company’s…
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Real estate technology firm Redfin has been named in a lawsuit alleging that the company uses its online platform to engage in modern-day “redlining” and discriminatory pricing practices. In the legal action filed last week with the US District Court in Seattle, the National Fair Housing Alliance (NFHA) states that Redfin’s policies perpetuate “the stark…
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Innovative Housing Opportunities (IHO) formally submitted plans for an ambitious 160-unit affordable housing development located at 8701 S Western Avenue. The proposed mixed-use development called ‘SOLA at 87th’ will feature 160 one-, two-, and three-bedroom units spread across an 84,150-square foot (SF) site which currently consists of several vacant lots and a closed Bank of…
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As first reported by Steven Sharp for Urbanize LA, new renderings for a massive mixed-use development in the Crenshaw District surfaced this week, after the Department of Recreation and Park (RAP) signed off on their portion of the approval process. The committee’s approval represents another hurdle cleared on the entitlement application submitted by co-developers West…
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Growing speculation points to Amazon Grocery as the new “mystery tenant” at a major redevelopment project underway in Ladera Heights. Rumors surrounding Amazon’s arrival have increased in recent weeks following the announcement that Smart & Final had officially backed out of their lease agreement with The Interchange at La Cienega. Should Amazon sign on…
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Looking to build the infrastructure required to transform the city around the Sports and Entertainment district, Inglewood officials recently presented updated plans for an automated people mover. First announced in 2018, the proposed monorail-like system would connect the Crenshaw/LAX Line with the Forum, Sofi stadium complex, and the recently approved Clippers arena. According to a recent…
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Last week, Los Angeles-based Broadway Federal Bank and Washington D.C.’s City First Bank formally announced their plans to merge the two banks. Under the new structure, when the two banks combine in January 2021, the bank will become the country’s first Black-controlled bank with over $1 billion in assets. According to the New York Times, the…
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In recent weeks, three high-profile power moves have positioned Black men in key leadership roles across the Los Angeles commercial real estate market. Samuel Hughes was named as President and CEO for the Economic Resources Corporation (ERC). Created by community and business leaders in response to the 1965 Watts Uprising, ERC works to address economic…
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Last week, the Los Angeles City Planning Department appointed Faisal Roble to become its first Chief Equity Officer. Roble, who brings more than 30 years of planning experience to the new role, will lead racial justice efforts within the department, by helping to address implicit bias in the city’s planning policies and outreach. Having worked…
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Located in the heart of South Los Angeles, the area surrounding USC’s campus is no stranger to commercial development projects. The latest development, Exposition Point, cleared a major hurdle when the city approved the $450 million project proposed by an Irvine-based developer – Ventus Group. The mixed-use development, located directly across from Banc of California…
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