Real Estate Quarterly
Redevelopment: Fact or Fantasy
Publication date: April 19
Due Date: April 13
1)Overview (Hayes) The hottest word in L.A. business circles these days is redevelopment. Whether it’s Hollywood, North Hollywood, Mid-Wilshire, or the Crenshaw district, the talk is the same: take a beaten up piece of the city, plow development dollars into the area, along with various incentives, and voila movie theaters, home improvement stores and Starbucks stores for everyone. The question, of course, is will these areas really take root and if so, what does it mean for the overall economy. W/Photos
W/Chart: Breakout of all the major redevelopment activity going on in L.A.
2)Profiles A look at specific projects: Who’s behind them, what’s the money involved, what’s the backdrop of the area under redevelopment and what are the economic stakes? Each piece should run 18-22 inches. W/Photos
? Hollywood (Sarkisian)
? North Hollywood (Woodard)
? Mid-City (Pettersson)
? Crenshaw (Brinsley)
3)CRA (Fine) They’re the agency that almost everyone has a beef with: the Community Redevelopment Agency, which plays a role in all redevelopment activity in the area. Why does it not get respect? Mostly because the track record is so poor.
W/alternatives (Fine) — Short sidebar on various approaches, besides the CRA, that are being undertaken to revitalize blighted urban L.A. areas.
W/Interview (Fine) Short Q & A; with John Molloy, head of the CRA. Photo.
4)CaseStudy (Fine) Redevelopment projects are not neat and tidy affairs. They are typically cloaked in paperwork and cumbersome financial formulas. Let’s take a look at a typical project and see how it pencils out. W/Chart
5)Pro-Con Separate commentaries debating the plusses and minuses of redevelopment plans.
? Pro (O’Malley Miller of Munger Tolles & Olson 213-683-9100)
? Con (Sam Staley of Reason Public Policy Institute 937-848-8896)
6)Other (Taub) What have been the successes and failures of redevelopment projects in other cities? Are the problems in L.A. different or typical?
Markets
1)Overview (Hayes) Roundup and analysis of first quarter activity and what’s on tap for the next three months.
W/Chart Breakout of first quarter activity.
2)Market Overviews
? Downtown (De Santis)
? Wilshire (Gorchov)
? Westside (Kuzins)
? South Bay (Brinsley)
? Tri-Cities (Young)
? San Gabriel Valley (Pettersson)
? Mid-Cities (Pettersson)
? Inland Empire (Kuzins)
? San Fernando Valley (Garcia)
? North County (Brinsley)
? Ventura (Holleran)
