Palisades Goes in High Style

0



Award Winners: The Business Journal has selected 11 of the most influential players in mixed-use development in Los Angeles. Recipients received their awards March 15 at the Peninsula Beverly Hills Hotel.


Even though Avi Brosh’s Palisades Development Group may be a small-scale developer, the firm has built itself into a brand name in mixed-use development.


The Santa Monica firm has focused its energies in areas such as Pasadena and Santa Monica with design-driven, high style projects.


Now Palisades is adding boutique hotels to its mixed-use portfolio. Under the Pali House brand, the firm is planning four projects in Hollywood, West Hollywood, Venice and Palm Springs that will include a mix of hotel rooms, residential condominiums and ground-floor restaurants.


“The future of developing in urban markets is about servicing your customer and offering what the urban customer desires and requires,” Brosh said. “The hospitality component skill set is going to ensure viability going forward as a company.”


Brosh founded Palisades Development Group in 1998 in Santa Monica with a few colleagues from a former company. He got his start in the real estate business when he moved to California after graduating from Boston University and was offered a job by a friend working for a developer.


While Brosh claims he never had great aspirations to be in development, he has shown a knack for the business with noted projects, such as the Lofts at Laurel Court in West Hollywood.


Palisades Development Group and Paladin Realty Partners are converting the Equitable building on the northeast corner of Hollywood Boulevard and Vine Street into 60 flats and two-story condos. The project is one of Palisades Development’s first adaptive reuse projects.


The firm also has been branching out. Palisades Development recently bought the Furama Hotel on the southwest corner of Lincoln Boulevard and Manchester Avenue. The 250-room property will be operated under a separate brand than Pali House and won’t contain residences.


The first Pali House developments will be in West Hollywood and Hollywood. “We’ve become substantial players in the marketplace,” Brosh said. “We’ve been very active in mixed-use projects and have quite a body of work.”


Brosh says the secret to real estate development is in the mix of uses, and for Palisades Group is to develop a platform based on the best mix of uses for any particular site and being very conscientious about learning to serve the urban customer.


*

Best Small-Scale Developer



Palisades Development Group



Avi Brosh,

managing principal


Birthplace:

New York, 1965


Accomplishments:

Lofts at Laurel Court, Melrose Place Lofts; converting Hollywood’s Equitable building into 60 flats and two-story condos; now adding boutique hotels to its mixed-use portfolio.


Quote:

“I’m thrilled to be doing the projects we’re doing. I think for us the future is to continue to do the work that inspires us, and that includes a mix of uses and becoming even more proficient at urban residential and hospitality work.”

No posts to display