Orsisi Phase III turns Chinatown into Little Tuscany

The oft derided Italianate empire of Geoffrey Palmer is expanding, apparently unfazed by the real estate slowdown, with the near completion of Orsini Phase III at the corner of Figueroa St and Cesar Chavez Ave, north of the 101 freeway. With the apartment's three installments occupying all but one of the intersection's corners, the area maintains an eerie, plastic atmosphere, devoid of pedestrian activity. Palmer has made his name constructing gigantic, ostentatious apartment buildings around downtown with tired Mediterranean flourishes and names like Medici, Visconti, and Piero.

Developer was required by the city to provide 13,000 sf of retail on the ground floor - a less than fortunate concession given that the corner is hidden behind miles of gaudy fountains and stucco balconies. Adding insult to injury, popular local grease dive BBQ King was razed at the hands of mighty Orsini. But Palmer has made another, somewhat trickier promise - retail lease rates must drop if occupancy doesn't hit 30% by the time the apartments are three quarters filled. This means that rather than the fancy Quizno's and Coldstone Creamery Palmer was no doubt tempting, we may get smaller, more local (read: Chinese) eateries instead; (perhaps even a vengeful resurrection of BBQ King).

The new building will allegedly feature more pedestrian-friendly and sustainable design options, assuming they're not looking to the sky bridges and anemic lawns of phase II as a model. Rates in the third building are TBA, but they can be estimated at just over the $2.53/sf being asked of the older 2-bedrooms. To Palmer's credit, the apartments are some of the most visible and accessible rentals in the daunting downtown market, and aren't (entirely) overpriced. Whether the new downtown has benefited from such palatial ghettos of pastiche is up for debate, but one man has certainly made a healthy killing and filled a great demand to boot.

Navigating the LA Housing Market

Don't let double-digit unemployment and a frozen credit market fool you - some LA neighborhoods are doing just fine, thank you. And you might be surprised by the areas that are doing particularly badly. How has the recession affected gentrifying neighborhoods and the up-and-comers? And are the super-rich truly still recession-proof? Los Angeles Magazine has just published a chart detailing homes sold, median selling price, and price per square foot for every imaginable LA area neighborhood between 2007 and 2008. The list can be quite daunting so herewith, a summary of the notables.

Most houses sold in 2008: Lancaster (93536) 1,458

Least houses sold in 2008: Downtown (90021) 16

Highest median price in 2008: Beverly Hills (90210) $2,690,000

Lowest median price in 2008: Lancaster (93535) $155,000

Highest price/sf in 2008: Santa Monica (90402) $984

Lowest price/sf in 2008: Lancaster (93535) $88

Biggest gainer from 2007: Westwood (90024) +17.9%
Biggest loser from 2007: Watts (90002) -49.0%

Wow. It is certainly an interesting time to be owning (or building) in Lancaster. Despite nearly halving in value from the year before, houses were still getting scooped up there last year thanks to drop-dead prices, which were lower even than Compton or Watts. But those inner city neighborhoods were by far the biggest losers from the year over. Their central location gives them artificially high prices during boom years. Beverly Hills and Malibu topped out the price index as can be expected. And Santa Monica's dense zoning and oceanfront location gave it the highest price per square foot. Despite sluggish movement in Downtown, the 90021 zip still managed a double digit increase from 2007. And the combination of density and stability stemming from proximity to UCLA, is the only explanation for Westwood's freakish mini-boom.

East LA Braces for Gold Line Opening

The Metro Gold Line eastside extension - connecting East LA to Pasadena via Downtown - is set to begin operation in September, just a couple of months after the initial scheduled opening. Metro is currently working on last-minute cosmetic details, removing construction equipment, and testing the mechanics of the 6-mile extension. The line is projected to carry 13,000 passengers per day in the first year, but every prior rail opening in the city has far surpassed rider expectations. Primary in pre-opening considerations is safety, according to MTA, especially in the underground segment of the line - the dual tunnel system that has been constructed under Boyle Heights.

Pedestrian and vehicle safety workshops are being conducted in the communities that the new line will serve, especially those that may not have been exposed to light-rail transit, namely the largely Spanish-speaking communities east of the LA River. In addition, MTA has employed safety ambassadors to stand outside of the stations for the next 6 months, answering questions and giving instructions to curious passers-by. MTA has proven extremely diplomatic in its approach to the construction and introduction of this line, having also assisted nearby small businesses maintain customer traffic despite construction inconveniences. This is an approach MTA will want to retain for public relations with South LA communities that will be affected by the incoming Expo Line. Some residents there have fought immutably to block ground-level crossings. Residents will also want to watch for safety statistics on the new Gold Line.

And drivers take warning: cameras will be placed at every train crossing, ready to ticket those imprudent drivers who make illegal turns.

Santa Monica Demos Parking in Favor of Greener Alternative

Parking structures at 1200 4th St. and 1400 2nd St. will be demolished in accordance with a $1 million spending package approved by Santa Monica's City Council Tuesday night. As part of a contract with construction firm Morley Builders, two larger, "greener" structures will take their place. The new structures will incorporate solar power, ground floor retail, bike parking, and public restrooms. They will also increase capacity by 250 cars each.

The two structures, which are the smallest of the area's six city-owned structures, were built as part of the city's plan to attract downtown retailers by eliminating parking requirements. The arrangement has been extremely successful, especially at Third Street Promenade, where high-end retailers clamor to lease the pricey spots. It has also led to a dense, walkable downtown that isn't plagued by unsightly ground parking like so many other Southern California shopping districts. Long a practitioner of so-called smart parking, Santa Monica is also home to a new parking structure at its civic center, so innovative and handsome it has been featured in a spread of Architectural Record.

Also on the voting sheet Tuesday night was an option to increase the city's bandwidth to bolster WiFi hot spot coverage. With its small area and fat pockets, Santa Monica may well be the first Southern California municipality to offer citywide wireless coverage, so far a distinction claimed only by Google's Bay Area hometown of Mountain View.