Restoration Hardware Provide Public Rooftop Park on top of its new West Hollywood Flagship Store

Restoration Hardware Rooftop Public Park in West Hollywood

Restoration Hardware Rooftop Public Park in West Hollywood

Cities are exchanging entitlements for public benefits.  The City of West Hollywood got Restoration Hardware to offer free valet parking and provide a public park on it rooftop at its flagship West Hollywood store at 8564 Melrose Avenue directly across the Urth Cafe.  It is open daily to the public and has party space, a outdoor pool table, and ping pong.  The park looks more like the rooftop of a W hotel or the Standard Club.  Bring your lunch.  This is an example of the public benefits cities are extracting from property owners and developers for zoning rights, in this case a conversion of an office to a retail store.

restoration hardware 2

PMI Properties and Bisnow to Host Summit on the Future of Culver City, LA’s Next Big Submarket

future of Culver City

PMI Properties and Bisnow is hosting on Tuesday, October 14, 2014 a summit on the Future of Culver City:  LA’s Next Big Submarket.  The event shall take place at PMI Property’s Eastham Station at 3525 Eastham at 5pm.

Many are saying that Culver City could be LA’s next big neighborhood—connecting the Westside to the Eastside, capitalizing on its central location and historic character.  The summit will dive into topics such as new developments under way and on the horizon, challenges and opportunities in the market, and what the City is doing to promote growth!

Other issues include What’s pushing Culver City’s growth? Is it its good stock of larger creative former industrial buildings and better housing options for employees?  How will the Expo Transit affect Culver City and how will the City capitalize on it?  What would the impact of City sponsored super fiber be on business? What is happening to bring amenities to the Hayden Tract and Jefferson corridor? What business are moving to and are attracted to Culver City? What is the new media cluster all about? How will Culver City compete against Playa Vista and Downtown L.A.? What new projects are being built?

Panelists include Michael Hackman, CEO of Hackman Capital, Thomas Wulf, Senior Vice President of Lowe Enterprise Real Estate Group, Andrew Weissman,  Councilman & former Mayor, Brad Gross, Executive Vice President of DTZ Brokers, Damon Juha, Partner with Freeman, Freeman, & Smiley, and Jeffrey Palmer, Partner with PMI Properties.

For more information and tickets, see below:

Future of Culver City – Event Information | Online Registration by Cvent.

Millennial Kitchens are For Looking and Not Cooking

1920s Small Duplex Kitchen Hollywood

1920s Small Duplex Kitchen, Hollywood

Kitchens, even in apartments, were an important room in the old days.  Prior to the 1950s, apartments had large kitchen with space for a breakfast table (see above picture).

After 1940s and on, kitchen were relegated to galleys with maybe a pass thru eating bar.  But the kitchen was still large enough to prepare the Thanksgiving dinner (see pictures below).

1960 Galley Kitchen

1960 Galley Kitchen

 

1960s Apartment Kitchen With Pass Thru

1960s Apartment Kitchen With Pass Thru

Now developers are again shrinking the apartment kitchen further. Kitchens are are no longer hidden in a separate room or a galley but front and center in the great room.  Many millennials no longer cook meals but bring home takeout, throw something into the microwave or toaster over, or eat out.  The kitchen’s have been reduced to grand coffee bars.  Kitchens must look better than before.  Kitchen are showpieces with contemporary cabinets, quartz countertops, and stainless steel appliances (see pictures below).

 

2013 Renovated Kitchen of the Above 1920 Duplex Kitchen

2013 PMI/Adaptive Kitchen in the  1920 renovated Hollywood Duplex above

2014 Renovated Apartment Kitchen

2014 PMI/Adaptive Renovated Apartment Kitchen, Echo Park

2013-04-03 19.14.37Kitchen In New Stella Apartments, Marina Del Rey

New Icis Apartments Glendale

New Icis Apartments Glendale

New Eleve Lofts Glendale

New Eleve Lofts Glendale

Bellevue Lofts Echo Park

Bellevue Lofts Echo Park

New Wilshire Vermont Apartments, Koreatown

New Wilshire Vermont Apartments, Koreatown

Kitchen in the hallway at Luxe on 4th Street, Santa Monica

Kitchen in the hallway at Luxe on 4th Street, Santa Monica

 

7950 Sunset, West Hollywood

7950 Sunset, West Hollywood

Station House  San Francisco

Station House
San Francisco

Avalon Apartments, San Francisco

Avalon Apartments, San Francisco

HatchBeauty Leases 10,300 SF at Westside Creative Office Building

Hatch Beauty has leased the upper third and fourth floor at a creative office building located at 10951 Pico Boulevard.  The five year lease is for 10,300 square feet.  The Hatch Beauty Agency is a marketing and design company that focuses on the beauty care industry.  Hatch Beauty Agency was formerly located in Santa Monica and shows how creative companies are leaving Santa Monica for more affordable creative offices on other parts of the Westside.

In 2000, PMI Properties, the landlord, converted 10951 Pico Boulevard to a creative office building.  Former tenants included California Assemblyman and Chicago 7 activist, Tom Hayden and web video gaming jaggernaut, Machinima.  Machinima was founded by Allen DeBevoise, who founded the company in 185 foot suite at 10951 Pico.  Current tenants include online social site Bebo and social E-commerce website Little Black Bag.

During the pre-leasing process, PMI Properties was represented by Dave Wilson and James Wilson from Lee & Associates.  Hatch Beauty was represented by Travis Landrum from Industry Partners.

New Hatch Beauty Agency Offices

New Hatch Beauty Agency Offices

Single Family Home Rentals on the Rise

Read about the changing trend that Premier Property Management Group has discovered:

Single family home tenants are 18 percent more likely than apartment tenants to stay in their current homes five years or longer, suggesting that demand for single family homes, the fastest growing rental category, will be more stable than multifamily demand.

Check out the entire article from Real Estate Economy Watch here: Single Family Renters More Likely to Stay in Place | RealEstateEconomyWatch.com