As the local real estate market has improved, local real estate attorneys practicing land-use law are seeing a resurgence in business. In fact, the industry’s boost prompted Century City corporate and real estate transactional law firm Sklar Kirsh last month to launch its own land-use practice.
“The first couple years coming out of the recession in 2012 and 2013, most of the focus of our client base was on existing properties and repositioning them,” said Andrew Kirsh, founding partner. “When we headed into 2014 and throughout 2014, new opportunities expanded into new ground-up development, which is now happening all over.”
Kirsh and Jeffrey Sklar started their firm early last year with four other attorneys. The increased demand for real estate counsel has since led the boutique firm to beef up its staff to 18 lawyers.
Meantime, projects that stalled after the economy tanked have recently begun to resurface, said Matthew Hinks, a partner in the land-use practice at the Century City office of Jeffer Mangels Butler & Mitchell.
A prime example is a massive mixed-use development on Grand Avenue in downtown Los Angeles. The project, located across from Walt Disney Concert Hall, was originally approved in 2007 but came to a screeching halt shortly thereafter.
“It was quite the controversy as to whether or not that project would ever break ground,” Hinks said.
But last month, the project’s first phase – a 271-unit luxury high-rise apartment building – finally opened. The outcome, however, didn’t reflect the initial plans from seven years ago.
Plans for the Grand Avenue project changed, much like other developments that were put on hold. The alterations meant the project had to first obtain new entitlements, Hinks said, which generated more business for land-use lawyers.
As more old projects continue to once again see the light of day, Hinks said he expects his plate will stay full. The same is likely true for other L.A. real estate and land-use practices.
“The outlook is we’re going to stay busy for quite some time,” he said. “But the biggest driving factor will be the economy, which is driving a number of projects forward now.”
Global law firm Latham & Watkins, despite its huge presence in entertainment hub Los Angeles, is seldom considered a major player in the entertainment, sports and media industry. But that is expected to soon change.
The firm last week acquired five partners from the Century City office of rival law firm O’Melveny & Myers, where the entertainment industry has been a major focus for nearly a century. The move was called one of the year’s largest bulk lateral hiring moves.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Leaders in Law 2018 Firm Attorney of the Year Finalists: Andrew Kirsh
- Law Firm Wins Staff on Appeal
- Recent Ruling Might Have Cued Up Music Suits
- Practice Group’s Business Heats Up With Drought
- L.A.’s Oldest Firm Losing Appeal for Lawyers?
- Environmental Attorneys Change Surroundings
- Previous Departures Pave Way for Further Exits
- New Firm Turns Into Active Suitor After Union