If you've been keeping up with the real estate development headlines lately, you might have noticed that every big, ambitious LA development plan includes a Target as its desired anchor tenant. Projects at various phases of development in Mid-City, Crenshaw, Hollywood, Westwood, and Downtown all tout Target as their crowning retail centerpieces. Some actually have the stated support of the Target Corp., while others merely crave the discount store's shiny urban appeal or its supposed potential to spur surrounding retail growth. The CRA has been lusting after Target for years in its attempt to turn a stretch of Washington Blvd south of Downtown into a dense big box haven. Oxymoron?
But why target Target? Perhaps developers point to the success of the West Hollywood Gateway, a project that has seen enormous traffic for its own tenants but has done little to turn around that languishing stretch of Santa Monica Blvd in eastern WeHo. Or perhaps they see Target much in the way the rest of us see it: as the hipper, cleaner alternative to those other trashy discounters we are loathe to visit. But the truth is that as a company, Target is in no position to expand its retail locations as aggressively as these developers might like. Neither is the Los Angeles customer base large enough or desirable enough to support a wealth of new stores.
Wal-Mart on the other hand, may take the cake on both these fronts. It is Wal-Mart, not its snooty rival, that has benefitted most from the recession, as many consumers seek deep discounts on their purchases rather than cut them out altogether. Secondly, Wal-Mart is aggressively studying a plan to roll out a new retail format that is much smaller than its traditional supercenter, and better fitted for urban real estate and the urban consumer. With Wal-Mart's small town and suburban locations built out, and no signs of slowed growth, that company is turning to a new potential demographic - a smart move considering the increasing costs of suburban living and the languishing retail opportunities there. Furthermore, Wal-Mart has but one location in our city limits (albeit a successful location), housed in a stately multi-story Baldwin Hills Crenshaw Mall location that was once home to a Sears. Should their new urban shop implementation work, I see no better place for a roster of mini Wal-Marts than Los Angeles. And as long as our developers are scrambling to attract their treasured Target, Wal-Mart is sure to score some good rental deals.
Thursday, July 8, 2010
Missing the Target
Tuesday, June 29, 2010
Subway-to-the... VA Hospital?
Monday, June 28, 2010
Best of Dwell on Design
Interior designers, interior decorators, architects, buyers, set designers and home remodelling freaks descended on the LA Convention Center this weekend for Dwell on Design, the west coast's largest design convention. That the event was held here rather than Dwell Magazine's home base of San Francisco is a testament to LA's growing weight in the design industry (if not the fact that there are more decor shops per capita here than you would think financially sustainable). In addition to a handful of seminars ranging from the LA River to local microbreweries, there were of course the multitudes of designer stands, hawking goods and pushing new ideas. The word of the day was green, but the irrational exuberance of yesteryear was present as well. Conspicuously absent from the displays was any aggresive pursuit of technology. But there were still some pretty cool products. Here are my faves:


Tuesday, June 22, 2010
The Art of Advertising
Sunday, April 18, 2010
Hollywood Freeway cap park inches forward
Source: Los Angeles Business Journal
Saturday, April 17, 2010
SFO pokes at drab LAX to woo travelers from Down Under
The City of San Francisco released the above video as part of a campaign to attract US-bound travelers from Australia and New Zealand to connect in San Francisco International Airport. While the "bad airport" featured in the cheesy video isn't directly referred to as LAX, our humble international terminal is the only other one with direct flights to Sydney and Aukland. OK, OK, we know LAX isn't the most pleasant airport to travel through, but it's getting an expensive upgrade! And besides, could the production quality of that video been any lower (c'mon, Gavin Newsom as a cab queue attendant)?
Source: LA Times
Korean Air chairman frustrated with state of downtown development
At the annual Town Hall Los Angeles meeting held last month, the chairman of Korean Air and owner of the Wilshire Grand hotel spoke of the urgency of jumpstarting his ambitious $1b redevelopment of that prime Wilshire Blvd spot. Since the economy soured, construction lending has largely frozen citywide. Downtown properties have been particularly insolvent, struck by an aftermath of an overspeculative pre-bust boom. Perhaps in a last ditch attempt to attract supporters, investors, and lenders, chairman Yang-Ho Cho promised 8,000 construction jobs and 4,000 permanent jobs to result from the project. Plans call for 560 hotel rooms and a 65-story office tower. Whether downtown's hotel and office market is built out remains to be seen.
Source: Korean Air
Tuesday, April 13, 2010
Long-vacant church gets religious owner of a different order
The historic Second Church of Christ, Scientist building on Adams Blvd near USC was just bought by the Art of Living Foundation, after sitting vacant for a number of years. The 100 year old building has become somewhat of a landmark in the North University Park neighborhood, and is notable for its wide-span oxidized copper dome and its soaring Corinthian columns. It was built in 1910 as the West Coast sister to Boston's First Church of Christ, Scientist, and has been listed on the National Register of Historic Places since 1986. The Art of Living Foundation, a 30 year old local spiritual group dedicated to yoga and meditaion, paid an estimated $10m for the property. A new-age Eastern religion taking the reigns from an older new-age Western religion? How LA.
Source: LA Times
City, Universal launch 2 websites intended to boost tourism
4:42 PM |
Saturday, March 13, 2010
City rejects supergraphics/Cahuenga peak compromise
4:43 PM | Cahuenga Peak, City Council, Hollywood, Hollywood sign, supergraphics, Trust for Public Land
Attractive proposal, right? Wrong. The city council is not biting. "We're not going to trade off beautification in one place for visual decay in another," said Hollywood area councilman Eric Garcetti. The problem with that argument is that supergraphics are temporary, and there legality can be debated indefinitely; but once the Cahuenga developer builds those houses, the Hollywood sign vista will be marred forever. SkyTag's plea comes soon after a federal appelate judge ruled in December that the city's ban on so-called supergraphics was unconstitutional. Twenty of the signs remain. Ironically, the iconic and jealously guarded Hollywood sign was itself a 200x50 ft advertisement when it was installed in 1923 to promote a housing development.







