Climate: 2006 was the year of the stalemate. Homes sales came to an abrupt stop and then began declining. By July, condominium and single-family home sales declined nearly 20 percent to 1,126 from year ago figures. Condominium developers came under fire from local community groups and worries began to surface that the market was oversaturated. Home prices continued to climb, albeit modestly.
Biggest News: Noho Commons, a mixed use development that includes about 300 loft apartment rentals units, opened for business.
Companies in the News: The Ryland Group Inc., Calabasas, after three years of sharp income increases, saw revenues flatten and earnings decline.
http://www.thefreelibrary.com/Residential+real+estate.-a0159592154
Monday, December 18, 2006
Saturday, December 16, 2006
Universal realizes community key to project
Universal realizes community key to project.
http://www.thefreelibrary.com/Universal+realizes+community+key+to+project.-a0159592109
This time, NBC Universal figured out it needed some neighborly support.
In announcing a 25-year master plan for its 391-acre Universal City property this month, the media conglomerate learned lessons from previous failed plans and went to the community to build a consensus about the massive project.
The tactic, started at least six months ago, has triggered an unexpected about-face among some business and community groups, which have historically had an icy relationship with the studio: they're withholding judgment until all the specifics are fleshed out.
"We're waiting for all the details. We haven't seen the whole project yet," said Richard K. Bogy, chair of government affairs and community development for the Toluca Lake Chamber of Commerce.
The blueprint calls for a considerable overhaul of the historic production facility and back lot, including refurbishing the Universal Studios Hollywood theme park by adding 80,000 square feet of retail and dining, plus 35,000 square feet of additional retail and dining, a 3,000-seat entertainment venue and a 500-room hotel at City Walk.
Thomas Properties Group, meanwhile, plans to develop a 650,000-square-foot studio and office campus near the Universal City MTA station at Lankershim Boulevard and Campo de Cahuenga Way.
But the centerpiece would be the 124-acre, nearly 3,000-unit residential element called Universal Village centered on the eastern portion of the back lot, a largely undeveloped area hemmed in by existing hillside homes to the east.
Tom Smith, senior vice president of West Coast real estate for NBC Universal, said crews would also construct a new surface road from Forest Lawn Drive through the back lot to Coral Drive, the connector road just north of the Hollywood (101) Freeway (also called Buddy Holly Drive).
The street would serve as a "Great Street," housing 1000,000 square feet of retail and dining in addition to 2,900 apartments, condominiums and homes.
All told, the 25-year project could add more than $3 billion in direct investment in the Valley.
At a Dec. 6 press conference, Mayor Antonio Villaraigosa called the proposal a "golden opportunity to make the vision of new urban design a reality." "With a housing crisis, traffic congestion and an ever-growing population, this is the face of smart, responsible, environmentally-friendly development for the future," he said.
Victor Viereck, a vice president for the Universal City North Hollywood Chamber of Commerce, also applauded the project.
"Any additional housing, even when it's all market rate, helps the overall supply, which helps the affordability," he said. "When people are earning money they can afford it."
Viereck also pointed to the impact on the NoHo Arts District, a redeveloped section of Lankershim Boulevard teeming with art galleries, theater scene and the new 278-unit Lofts at Noho Commons.
"It will spur additional good development from there," Viereck said. "That will be helpful."
Community concern
The expansion, however, has reignited two long-held fears about any project at Universal: increased traffic and noise.
"The concerns are always about the Cahuenga Pass and Barham and people trying to access the freeway," said Hollywood Hills West Neighborhood Council President Anastasia Mann. "It's already congested."
Villaraigosa said he's aware the worries.
"While I welcome this project with open arms, I completely understand your legitimate concerns about its magnitude and scope," Villaraigosa said at the press conference. "The community will be part of the process every step of the way and I will personally hold NBC accountable to deliver on that commitment."
NBC Universal, in turn, has met with sever al community groups to go over plans, including the Studio City Neighborhood Council.
"They didn't want it to be a big shock," said Secretary Alan Levy, who was surprised at how candid the developers were.
They also met with the Toluca Lake Chamber about five months ago and incorporated many of the suggestions into the plan, including the new surface road, Bogy said.
Universal is also calling for a widening of the Barham bridge over the 101 and adding a southbound entrance to the expressway. Officials are also hopeful that the Red Line, which has a stop at Universal, will help cut down on congestion, although the current stop is at least a mile from the proposed residential element.
Years away
The project still faces a gauntlet of issues before construction starts, one of the biggest being figuring out what elements will sit on county and city land.
The majority of the property--including all of the theme park, studio and a large chunk of the back lot--sits in unincorporated Los Angeles County.
The city, meanwhile, controls all four corners of the vast property: an office building and parking lot at Barbara Boulevard and the Los Angeles River; a largely undeveloped plot at Barham and Buddy Holly; a small plot at Lankershim Boulevard and the L.A. River; and the southwest corner, which includes the hotel and office elements, the property's largest tax earners.
Under the current proposal, the housing and hotel elements would sit on unincorporated land and therefore benefit only county coffers. That could create an issue between the city and county, especially in regards to the highly sought hotel bed tax.
Thomas Properties and Rios Clementi Hale Studios will iron out such issues in the master plan currently under development. Once that's completed, the project will likely require a number of zoning changes before any environmental issues are addressed. City and county approvals are expected to begin next fall; early estimates put a groundbreaking no sooner than 2008.
With such a number of issues, one figure that will likely play a major role is city Planning Director Gall Goldberg.
She said how the city and county will interact is important, but that hasn't been figured out yet. "We haven't worked out the planning process," she said. "It's a bit of a challenge."
What is clear, Goldberg said, is that the agencies will have to work with the community to make sure everyone is on the same page.
"Our goal is to make it an extremely public process," she said. "We'll all come to an agreement."
From Bogy's perspective, that process has already started.
"The hope is that they'll continue to work for the community," he said.
By CHRIS COATES
Staff Reporter
http://www.thefreelibrary.com/Universal+realizes+community+key+to+project.-a0159592109
This time, NBC Universal figured out it needed some neighborly support.
In announcing a 25-year master plan for its 391-acre Universal City property this month, the media conglomerate learned lessons from previous failed plans and went to the community to build a consensus about the massive project.
The tactic, started at least six months ago, has triggered an unexpected about-face among some business and community groups, which have historically had an icy relationship with the studio: they're withholding judgment until all the specifics are fleshed out.
"We're waiting for all the details. We haven't seen the whole project yet," said Richard K. Bogy, chair of government affairs and community development for the Toluca Lake Chamber of Commerce.
The blueprint calls for a considerable overhaul of the historic production facility and back lot, including refurbishing the Universal Studios Hollywood theme park by adding 80,000 square feet of retail and dining, plus 35,000 square feet of additional retail and dining, a 3,000-seat entertainment venue and a 500-room hotel at City Walk.
Thomas Properties Group, meanwhile, plans to develop a 650,000-square-foot studio and office campus near the Universal City MTA station at Lankershim Boulevard and Campo de Cahuenga Way.
But the centerpiece would be the 124-acre, nearly 3,000-unit residential element called Universal Village centered on the eastern portion of the back lot, a largely undeveloped area hemmed in by existing hillside homes to the east.
Tom Smith, senior vice president of West Coast real estate for NBC Universal, said crews would also construct a new surface road from Forest Lawn Drive through the back lot to Coral Drive, the connector road just north of the Hollywood (101) Freeway (also called Buddy Holly Drive).
The street would serve as a "Great Street," housing 1000,000 square feet of retail and dining in addition to 2,900 apartments, condominiums and homes.
All told, the 25-year project could add more than $3 billion in direct investment in the Valley.
At a Dec. 6 press conference, Mayor Antonio Villaraigosa called the proposal a "golden opportunity to make the vision of new urban design a reality." "With a housing crisis, traffic congestion and an ever-growing population, this is the face of smart, responsible, environmentally-friendly development for the future," he said.
Victor Viereck, a vice president for the Universal City North Hollywood Chamber of Commerce, also applauded the project.
"Any additional housing, even when it's all market rate, helps the overall supply, which helps the affordability," he said. "When people are earning money they can afford it."
Viereck also pointed to the impact on the NoHo Arts District, a redeveloped section of Lankershim Boulevard teeming with art galleries, theater scene and the new 278-unit Lofts at Noho Commons.
"It will spur additional good development from there," Viereck said. "That will be helpful."
Community concern
The expansion, however, has reignited two long-held fears about any project at Universal: increased traffic and noise.
"The concerns are always about the Cahuenga Pass and Barham and people trying to access the freeway," said Hollywood Hills West Neighborhood Council President Anastasia Mann. "It's already congested."
Villaraigosa said he's aware the worries.
"While I welcome this project with open arms, I completely understand your legitimate concerns about its magnitude and scope," Villaraigosa said at the press conference. "The community will be part of the process every step of the way and I will personally hold NBC accountable to deliver on that commitment."
NBC Universal, in turn, has met with sever al community groups to go over plans, including the Studio City Neighborhood Council.
"They didn't want it to be a big shock," said Secretary Alan Levy, who was surprised at how candid the developers were.
They also met with the Toluca Lake Chamber about five months ago and incorporated many of the suggestions into the plan, including the new surface road, Bogy said.
Universal is also calling for a widening of the Barham bridge over the 101 and adding a southbound entrance to the expressway. Officials are also hopeful that the Red Line, which has a stop at Universal, will help cut down on congestion, although the current stop is at least a mile from the proposed residential element.
Years away
The project still faces a gauntlet of issues before construction starts, one of the biggest being figuring out what elements will sit on county and city land.
The majority of the property--including all of the theme park, studio and a large chunk of the back lot--sits in unincorporated Los Angeles County.
The city, meanwhile, controls all four corners of the vast property: an office building and parking lot at Barbara Boulevard and the Los Angeles River; a largely undeveloped plot at Barham and Buddy Holly; a small plot at Lankershim Boulevard and the L.A. River; and the southwest corner, which includes the hotel and office elements, the property's largest tax earners.
Under the current proposal, the housing and hotel elements would sit on unincorporated land and therefore benefit only county coffers. That could create an issue between the city and county, especially in regards to the highly sought hotel bed tax.
Thomas Properties and Rios Clementi Hale Studios will iron out such issues in the master plan currently under development. Once that's completed, the project will likely require a number of zoning changes before any environmental issues are addressed. City and county approvals are expected to begin next fall; early estimates put a groundbreaking no sooner than 2008.
With such a number of issues, one figure that will likely play a major role is city Planning Director Gall Goldberg.
She said how the city and county will interact is important, but that hasn't been figured out yet. "We haven't worked out the planning process," she said. "It's a bit of a challenge."
What is clear, Goldberg said, is that the agencies will have to work with the community to make sure everyone is on the same page.
"Our goal is to make it an extremely public process," she said. "We'll all come to an agreement."
From Bogy's perspective, that process has already started.
"The hope is that they'll continue to work for the community," he said.
By CHRIS COATES
Staff Reporter
Monday, December 4, 2006
Noho Commons
Noho Commons: Performance artists, painters and sculptors were on hand at the ribbon cutting ceremonies for the opening of the Lofts at Noho Commons. The artists, who were actually engaged in creating works during the ceremony, were there to highlight the location of the mixed use project in the center of the Noho Arts District, said Cliff Goldstein, senior partner with J.H. Snyder Company, the developers of the project. Goldstein delivered the opening remarks for the ceremonies, noting that the redevelopment of the area at Lankershim and Chandler boulevards has been more than six years in the making. Jerry Snyder told the group about the start of the third phase of the project, which will include an office building and a movie theater. Mayor Antonio Villaraigosa and other city officials were also on hand talking about the revitalization of North Hollywood.
http://www.thefreelibrary.com/Noho+Commons.-a0156362250
http://www.thefreelibrary.com/Noho+Commons.-a0156362250
Tuesday, November 21, 2006
PHASE I OF NOHO COMMONS OPENS LOFT PROJECT ON THE MOVE
PHASE I OF NOHO COMMONS OPENS LOFT PROJECT ON THE MOVE.
http://www.thefreelibrary.com/PHASE+I+OF+NOHO+COMMONS+OPENS+LOFT+PROJECT+ON+THE+MOVE.-a0154771178
Byline: RACHEL URANGA Staff Writer
NORTH HOLLYWOOD -- The first phase of NoHo Commons -- a massive retail, loft and apartment complex that has drawn a half-billion dollars in investment -- opened Monday.
The 292-unit residential loft complex, strategically located at the edge of the Red and Orange lines terminus, was hailed by developers and city officials as a transit-friendly project. It was billed as an affordable complex that should draw the likes of artists, teachers and firefighters, but some artists at the event said they would find it hard to come up with the rent.
``It's nice,'' said Preston Craig, as he painted NoHo in orange letters on a canvas. ``But the irony is that artists can't afford to live here.''
The loft units range in price from about $1,400 for a 580-square-foot unit to $2,500 for a 980-square-foot one. Officials hope that it will encourage transit use among residents.
The $100 million loft complex is the first of three phases funded in part with $37 million in local, state and federal grants.
It will include a 438-unit apartment and condo complex and retail center with a HOWS market that will open in 2007. About 20 percent of the units will be set aside for low-income renters.
Developers also announced they will break ground on a seven-screen art house theater and retail complex across the street to open in 2009.
``This is a place where you can live, work and use public transit,'' said Mayor Antonio Villaraigosa. ``It's what we have got to see a lot more of in this city.''
rachel.uranga(at)dailynews.com
(818) 713-3741
CAPTION(S):
2 photos
Photo:
(1) Jennifer Berry, a ballet dancer, takes part in the NoHo Commons ribbon-cutting ceremony Monday. About 20 percent of the units will be for low-income renters.
(2) Mayor Antonio Villaraigosa busts out a smile for sculptor Erin Barrett during Monday's ribbon-cutting ceremony.
Tina Burch/Staff Photographer
http://www.thefreelibrary.com/PHASE+I+OF+NOHO+COMMONS+OPENS+LOFT+PROJECT+ON+THE+MOVE.-a0154771178
Byline: RACHEL URANGA Staff Writer
NORTH HOLLYWOOD -- The first phase of NoHo Commons -- a massive retail, loft and apartment complex that has drawn a half-billion dollars in investment -- opened Monday.
The 292-unit residential loft complex, strategically located at the edge of the Red and Orange lines terminus, was hailed by developers and city officials as a transit-friendly project. It was billed as an affordable complex that should draw the likes of artists, teachers and firefighters, but some artists at the event said they would find it hard to come up with the rent.
``It's nice,'' said Preston Craig, as he painted NoHo in orange letters on a canvas. ``But the irony is that artists can't afford to live here.''
The loft units range in price from about $1,400 for a 580-square-foot unit to $2,500 for a 980-square-foot one. Officials hope that it will encourage transit use among residents.
The $100 million loft complex is the first of three phases funded in part with $37 million in local, state and federal grants.
It will include a 438-unit apartment and condo complex and retail center with a HOWS market that will open in 2007. About 20 percent of the units will be set aside for low-income renters.
Developers also announced they will break ground on a seven-screen art house theater and retail complex across the street to open in 2009.
``This is a place where you can live, work and use public transit,'' said Mayor Antonio Villaraigosa. ``It's what we have got to see a lot more of in this city.''
rachel.uranga(at)dailynews.com
(818) 713-3741
CAPTION(S):
2 photos
Photo:
(1) Jennifer Berry, a ballet dancer, takes part in the NoHo Commons ribbon-cutting ceremony Monday. About 20 percent of the units will be for low-income renters.
(2) Mayor Antonio Villaraigosa busts out a smile for sculptor Erin Barrett during Monday's ribbon-cutting ceremony.
Tina Burch/Staff Photographer
Monday, November 20, 2006
RESIDENTIAL UNITS AT NOHO COMMONS OPEN
Residential units at Noho Commons open. - allbusiness.com
By Garcia, Shelly
Publication: San Fernando Valley Business Journal
Date: Monday, November 20 2006
http://www.allbusiness.com/north-america/united-states-california/3995715-1.html
On November 20, city dignitaries cut the ribbon opening The Lofts at Noho Commons, a pioneering transit village that has been nearly four years in the making.
But for the officials at J.H. Snyder Co. the work is just beginning ... again.
The development company is beginning work on the third phase of the project, which has been redesigned since the initial planning for the complex back in 2002.
For the remaining three-acre parcel of the complex, the company has scaled down an office building that was to have been built in phase three and added a movie theater.
"We're expecting to finalize terms to bring a seven-screen Laemmle theater with 1,100 seats to the project," said Cliff Goldstein, senior partner at J.H. Snyder Co.
The office building, one of the only speculative office projects under construction on the Valley floor, was initially intended to be about twice the size of current plans, but skyrocketing construction costs made it difficult to attract financing for the project.
"The partners and I determined we were willing to take the financial risk to build a smaller building," Goldstein said.
Bringing a movie theater to the project was an idea that had been on the community's wish list ever since Snyder first began negotiating for the project, but theaters were consolidating and retrenching at the time.
Snyder, which is currently in the process of acquiring the neighboring Valley Plaza shopping center, first began talks with Laemmle about locating in that complex.
A movie theater, with its very high construction costs, is not the most lucrative option for any developer--indeed Snyder executives say they will not be turning a profit on that portion of the project. But the theater component would provide a kind of finishing touch on Noho Commons, with its pioneering strategy of creating what is arguably the first urban village designed from ground up in Los Angeles.
In addition to the 280-odd residential for-rent units, most of them lofts, the complex will include 14 live-work lofts suited to artists, craftsmen and others whose businesses and lifestyles can be located in one place; a Howes Market and restaurants that, so far, include The Coffee Bean & Tea Leaf, California Pizza Kitchen, Daphne's Greek Cafe, and Coldstone Creamery. T-Mobile and Wells Fargo have also signed onto the location.
By Garcia, Shelly
Publication: San Fernando Valley Business Journal
Date: Monday, November 20 2006
http://www.allbusiness.com/north-america/united-states-california/3995715-1.html
On November 20, city dignitaries cut the ribbon opening The Lofts at Noho Commons, a pioneering transit village that has been nearly four years in the making.
But for the officials at J.H. Snyder Co. the work is just beginning ... again.
The development company is beginning work on the third phase of the project, which has been redesigned since the initial planning for the complex back in 2002.
For the remaining three-acre parcel of the complex, the company has scaled down an office building that was to have been built in phase three and added a movie theater.
"We're expecting to finalize terms to bring a seven-screen Laemmle theater with 1,100 seats to the project," said Cliff Goldstein, senior partner at J.H. Snyder Co.
The office building, one of the only speculative office projects under construction on the Valley floor, was initially intended to be about twice the size of current plans, but skyrocketing construction costs made it difficult to attract financing for the project.
"The partners and I determined we were willing to take the financial risk to build a smaller building," Goldstein said.
Bringing a movie theater to the project was an idea that had been on the community's wish list ever since Snyder first began negotiating for the project, but theaters were consolidating and retrenching at the time.
Snyder, which is currently in the process of acquiring the neighboring Valley Plaza shopping center, first began talks with Laemmle about locating in that complex.
A movie theater, with its very high construction costs, is not the most lucrative option for any developer--indeed Snyder executives say they will not be turning a profit on that portion of the project. But the theater component would provide a kind of finishing touch on Noho Commons, with its pioneering strategy of creating what is arguably the first urban village designed from ground up in Los Angeles.
In addition to the 280-odd residential for-rent units, most of them lofts, the complex will include 14 live-work lofts suited to artists, craftsmen and others whose businesses and lifestyles can be located in one place; a Howes Market and restaurants that, so far, include The Coffee Bean & Tea Leaf, California Pizza Kitchen, Daphne's Greek Cafe, and Coldstone Creamery. T-Mobile and Wells Fargo have also signed onto the location.
J.H. Snyder Co. Announces Movie Theater, Office Building to Be Part of New Project in North Hollywood Arts District
J.H. Snyder Co. Announces Movie Theater, Office Building to Be Part of New Project in North Hollywood Arts District
Nov 20, 2006
NORTH HOLLYWOOD, Calif. -- Los Angeles-based J.H. Snyder Co. today announced it will develop a movie theater, office building and residential complex in North Hollywood, adjacent to its mixed-use, transit-oriented NoHo Commons development.
At a news conference, Los Angeles Mayor Antonio Villaraigosa, City Councilman Tom LaBonge and County Supervisor Zev Yaroslavsky hailed the opening of J.H. Snyder Co.'s The Lofts at NoHo Commons for spurring the revitalization of North Hollywood.
"The NoHo Arts District is a unique and special place in Los Angeles," said Mayor Villaraigosa. "The NoHo Commons not only embraces the unique character of the neighborhood, but it's a smart, transit-friendly development where an artist, a teacher or a firefighter can live and enjoy all that the community has to offer."
The $100 million, 292-unit loft project is the first part of NoHo Commons to be completed in the "transit village," located at the terminus of the Metro Red Line subway and Orange Line busway. The $30 million retail portion, adjacent to the lofts and anchored by HOWS Market, is scheduled to open in spring 2007 and serve as a gateway to the North Hollywood Arts District for passengers arriving by mass transit.
J.H. Snyder Co. announced the next project at NoHo Commons it will develop will include: a seven-screen, Laemmle Theaters movie house with 1,100 seats in a stadium setting; a five-story, 100,000-square-foot office building; and a 150-unit residential complex. This phase, valued at $100 million, is expected to be completed in fall 2009.
"With its focus on the arts, North Hollywood is such a unique community, and NoHo Commons was sculpted to fit into the NoHo Arts District," said Jerry Snyder, the founder and senior partner of J.H. Snyder Co. "J.H. Snyder Co. is proud to be a part of the resurgence of North Hollywood. NoHo Commons is directly responsible for stimulating hundreds of millions of dollars in economic investment in North Hollywood and will serve as an economic generator for decades to come."
The Lofts at NoHo Commons includes 14 live/work spaces with retail store fronts on Weddington Street, and 278 residential lofts, 28 of which were designated as affordable housing units. Leasing opportunities for the lofts began November 20. The adjacent 60,000-square-foot retail space, at the intersection of Lankershim and Chandler boulevards, will include HOWS Market, Coffee Bean and Tea Leaf, California Pizza Kitchen, Cold-Stone Creamery, T-Mobile, Daphne's Greek Cafe and Wells Fargo Bank.
J.H. Snyder Co. is the master developer for NoHo Commons, which also includes The Gallery at NoHo Commons, a 438-unit apartment complex that is currently under construction. When complete, the three residential components of NoHo Commons - The Lofts, The Gallery and the planned project announced today - would have 880 newly built housing units within walking distance of mass transit.
J.H. Snyder Co. negotiated a Community Benefits Plan with CRA/LA and Valley Jobs Coalition, a project of Los Angeles Alliance for a New Economy, that includes living wage jobs, an affordable childcare center, local hiring and a job training program in concert with Valley College. For the first time in city history, a Community Benefits Plan mandated that 75 percent of the estimated 1,000 new jobs created by the development would pay at least the city's living wage. Other plans set goals, but had no requirements.
"We like to say that we don't just develop buildings, we partner with communities," said Clifford Goldstein, senior partner of J.H. Snyder Co. "The Community Benefits Plan sets the project apart and ensures that people who live and work at NoHo Commons will have good jobs and benefits."
The Jerde Partnership, which collaborated with J.H. Snyder Co. to create The River in Rancho Mirage and West Hollywood Gateway in West Hollywood, developed the master plan for the mixed-use Lofts at NoHo Commons and is the architect of the third phase, which includes the Laemmle Theater, office building and residences. The architect of The Lofts at NoHo Commons was Santa Monica-based Van Tilburg, Banvard & Soderbergh, which also designed J.H. Snyder Co.'s The Crescent in Beverly Hills. Dallas-based Faulkner Design Group created the interior design elements for The Lofts at NoHo Commons. Alliance Residential Company, one of the largest third-party management companies in the western United States, is handling leasing and rentals for The Lofts at NoHo Commons.
About J.H. Snyder Co.
The J.H. Snyder Co. is one of Southern California's oldest privately-held real estate development firms, with a portfolio of nearly 3 million square feet of retail and entertainment/retail development; more than 2 million square feet of premier-class office space; and 41,000 homes and residential units. The Los Angeles-based company has developed two of the largest office projects in Southern California - The Water Garden in Santa Monica and Wilshire Courtyard on Wilshire Boulevard in Los Angeles' Miracle Mile District. The company's fully integrated retail division specializes in creating mixed-use town centers, including NoHo Commons, the 1 million-square-foot, mixed-use transit-oriented development in North Hollywood; the award-winning West Hollywood Gateway, a 250,000-square-foot multi-level urban infill development; and "The River," a 250,000 sq. ft. destination retail/entertainment center in the City of Rancho Mirage.
COPYRIGHT 2006 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
Nov 20, 2006
NORTH HOLLYWOOD, Calif. -- Los Angeles-based J.H. Snyder Co. today announced it will develop a movie theater, office building and residential complex in North Hollywood, adjacent to its mixed-use, transit-oriented NoHo Commons development.
At a news conference, Los Angeles Mayor Antonio Villaraigosa, City Councilman Tom LaBonge and County Supervisor Zev Yaroslavsky hailed the opening of J.H. Snyder Co.'s The Lofts at NoHo Commons for spurring the revitalization of North Hollywood.
"The NoHo Arts District is a unique and special place in Los Angeles," said Mayor Villaraigosa. "The NoHo Commons not only embraces the unique character of the neighborhood, but it's a smart, transit-friendly development where an artist, a teacher or a firefighter can live and enjoy all that the community has to offer."
The $100 million, 292-unit loft project is the first part of NoHo Commons to be completed in the "transit village," located at the terminus of the Metro Red Line subway and Orange Line busway. The $30 million retail portion, adjacent to the lofts and anchored by HOWS Market, is scheduled to open in spring 2007 and serve as a gateway to the North Hollywood Arts District for passengers arriving by mass transit.
J.H. Snyder Co. announced the next project at NoHo Commons it will develop will include: a seven-screen, Laemmle Theaters movie house with 1,100 seats in a stadium setting; a five-story, 100,000-square-foot office building; and a 150-unit residential complex. This phase, valued at $100 million, is expected to be completed in fall 2009.
"With its focus on the arts, North Hollywood is such a unique community, and NoHo Commons was sculpted to fit into the NoHo Arts District," said Jerry Snyder, the founder and senior partner of J.H. Snyder Co. "J.H. Snyder Co. is proud to be a part of the resurgence of North Hollywood. NoHo Commons is directly responsible for stimulating hundreds of millions of dollars in economic investment in North Hollywood and will serve as an economic generator for decades to come."
The Lofts at NoHo Commons includes 14 live/work spaces with retail store fronts on Weddington Street, and 278 residential lofts, 28 of which were designated as affordable housing units. Leasing opportunities for the lofts began November 20. The adjacent 60,000-square-foot retail space, at the intersection of Lankershim and Chandler boulevards, will include HOWS Market, Coffee Bean and Tea Leaf, California Pizza Kitchen, Cold-Stone Creamery, T-Mobile, Daphne's Greek Cafe and Wells Fargo Bank.
J.H. Snyder Co. is the master developer for NoHo Commons, which also includes The Gallery at NoHo Commons, a 438-unit apartment complex that is currently under construction. When complete, the three residential components of NoHo Commons - The Lofts, The Gallery and the planned project announced today - would have 880 newly built housing units within walking distance of mass transit.
J.H. Snyder Co. negotiated a Community Benefits Plan with CRA/LA and Valley Jobs Coalition, a project of Los Angeles Alliance for a New Economy, that includes living wage jobs, an affordable childcare center, local hiring and a job training program in concert with Valley College. For the first time in city history, a Community Benefits Plan mandated that 75 percent of the estimated 1,000 new jobs created by the development would pay at least the city's living wage. Other plans set goals, but had no requirements.
"We like to say that we don't just develop buildings, we partner with communities," said Clifford Goldstein, senior partner of J.H. Snyder Co. "The Community Benefits Plan sets the project apart and ensures that people who live and work at NoHo Commons will have good jobs and benefits."
The Jerde Partnership, which collaborated with J.H. Snyder Co. to create The River in Rancho Mirage and West Hollywood Gateway in West Hollywood, developed the master plan for the mixed-use Lofts at NoHo Commons and is the architect of the third phase, which includes the Laemmle Theater, office building and residences. The architect of The Lofts at NoHo Commons was Santa Monica-based Van Tilburg, Banvard & Soderbergh, which also designed J.H. Snyder Co.'s The Crescent in Beverly Hills. Dallas-based Faulkner Design Group created the interior design elements for The Lofts at NoHo Commons. Alliance Residential Company, one of the largest third-party management companies in the western United States, is handling leasing and rentals for The Lofts at NoHo Commons.
About J.H. Snyder Co.
The J.H. Snyder Co. is one of Southern California's oldest privately-held real estate development firms, with a portfolio of nearly 3 million square feet of retail and entertainment/retail development; more than 2 million square feet of premier-class office space; and 41,000 homes and residential units. The Los Angeles-based company has developed two of the largest office projects in Southern California - The Water Garden in Santa Monica and Wilshire Courtyard on Wilshire Boulevard in Los Angeles' Miracle Mile District. The company's fully integrated retail division specializes in creating mixed-use town centers, including NoHo Commons, the 1 million-square-foot, mixed-use transit-oriented development in North Hollywood; the award-winning West Hollywood Gateway, a 250,000-square-foot multi-level urban infill development; and "The River," a 250,000 sq. ft. destination retail/entertainment center in the City of Rancho Mirage.
COPYRIGHT 2006 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
Friday, June 16, 2006
CROWDS TURN OUT ON NOHO DEVELOPMENT
CROWDS TURN OUT ON NOHO DEVELOPMENT.
Byline: ANGIE VALENCIA-MARTINEZ Staff Writer
http://www.thefreelibrary.com/CROWDS+TURN+OUT+ON+NOHO+DEVELOPMENT.-a0147132685
NORTH HOLLYWOOD -- Hundreds of people packed the first public meeting Thursday night on plans to build more than 1,000 town homes, condos and apartments -- a modernization project that includes revamping the lackluster Valley Plaza shopping center into a $560 million open-air mall.
Neighbors at the meeting, held at Emmanuel Lutheran Church, raised concerns over increased crime, traffic and its impact on schools and city services from the project, located near Laurel Canyon Boulevard and Oxnard Street.
``It's absolutely overwhelming,'' said resident Stephanie Murray. ``A six-story apartment building? No thank you.''
Developer J.H. Snyder Co. is proposing 700 condos, town homes and possibly lofts for sale and about 300 rental units. Snyder also wants a 5-acre park just east of the Hollywood Freeway and south of Victory Boulevard at Laurel and Valley plazas.
While many agreed that the area needs to be revitalized, they opposed the number of rental properties, saying more owner-occupied units should be built.
The company also wants to spruce up the 22-acre commercial complex at Valley Plaza with a cinema complex and department and retail stores, making it the costliest retail development in the San Fernando Valley.
One potential anchor store for the new complex would be a Federated Department Stores Inc.-owned Macy's, officials with the Miracle Mile-based company said. J.H. Snyder hopes to break ground in about 18 months.
The proposed project is being designed by the same architect who did The Grove shopping center in Los Angeles. J.H. Snyder also is building a $200 million complex of lofts, apartments and shops known as NoHo Commons at the core of the NoHo Arts District, to the south of the current proposed residential development.
``Every project we do is a work in progress, nothing is set in stone,'' said Cliff Goldstien, a partner at J.H. Snyder. ``We have a lot of work to do.''
angie.valencia(at)dailynews.com
(818) 713-3699
Byline: ANGIE VALENCIA-MARTINEZ Staff Writer
http://www.thefreelibrary.com/CROWDS+TURN+OUT+ON+NOHO+DEVELOPMENT.-a0147132685
NORTH HOLLYWOOD -- Hundreds of people packed the first public meeting Thursday night on plans to build more than 1,000 town homes, condos and apartments -- a modernization project that includes revamping the lackluster Valley Plaza shopping center into a $560 million open-air mall.
Neighbors at the meeting, held at Emmanuel Lutheran Church, raised concerns over increased crime, traffic and its impact on schools and city services from the project, located near Laurel Canyon Boulevard and Oxnard Street.
``It's absolutely overwhelming,'' said resident Stephanie Murray. ``A six-story apartment building? No thank you.''
Developer J.H. Snyder Co. is proposing 700 condos, town homes and possibly lofts for sale and about 300 rental units. Snyder also wants a 5-acre park just east of the Hollywood Freeway and south of Victory Boulevard at Laurel and Valley plazas.
While many agreed that the area needs to be revitalized, they opposed the number of rental properties, saying more owner-occupied units should be built.
The company also wants to spruce up the 22-acre commercial complex at Valley Plaza with a cinema complex and department and retail stores, making it the costliest retail development in the San Fernando Valley.
One potential anchor store for the new complex would be a Federated Department Stores Inc.-owned Macy's, officials with the Miracle Mile-based company said. J.H. Snyder hopes to break ground in about 18 months.
The proposed project is being designed by the same architect who did The Grove shopping center in Los Angeles. J.H. Snyder also is building a $200 million complex of lofts, apartments and shops known as NoHo Commons at the core of the NoHo Arts District, to the south of the current proposed residential development.
``Every project we do is a work in progress, nothing is set in stone,'' said Cliff Goldstien, a partner at J.H. Snyder. ``We have a lot of work to do.''
angie.valencia(at)dailynews.com
(818) 713-3699
Wednesday, June 14, 2006
EDITORIAL NOHO MOJO CITY CAN'T LET INVESTMENT LOSE
EDITORIAL NOHO MOJO CITY CAN'T LET INVESTMENT LOSE.
http://www.thefreelibrary.com/EDITORIAL+NOHO+MOJO+CITY+CAN'T+LET+INVESTMENT+LOSE.-a0147065850
THE economic and cultural rebirth of North Hollywood is a testament to what can happen to a depressed neighborhood when the powerful resources of the city are focused in its direction.
Although it took a decade after the completion of the subway, the promise of a Valley urban hub shows signs of being fulfilled in the next few years, thanks to the convergence of attention by the MTA and CRA, as well as tireless advocacy by Valley groups.
Property prices are increasing as new lofts and apartment buildings and stores rise from long-empty lots. The decrepit Valley Plaza is getting a multimillion-dollar makeover. The NoHo Arts District is becoming a modern-day reality. This neighborhood, so convenient to Hollywood's major studios, as well as on a straight subway shot to downtown, is a natural sell.
Call it NoHo mojo.
Even Rick Caruso, the Westside developer responsible for The Grove and the Commons at Calabasas, now says he may give a second look to a project in NoHo. At one time, he wouldn't consider it because of the crime and other negatives associated with NoHo.
That's as sure a sign as anything that the miasma clinging to North Hollywood for so many years is lifting.
But although NoHo construction is on the upswing and a vision is being developed that hopefully will make it a landmark region of the city, the need for strong leadership in the San Fernando Valley doesn't end there.
Indeed, while violent crime is down nearly 11 percent across the city from this time last year, it's up 8 percent in North Hollywood, according to Los Angeles Police Department statistics. Crime is down overall in the Valley, but the area historically gets shortchanged in police coverage, and that has not changed.
Declining neighborhoods in the Valley can still be revived, but safe streets are critical, as are well-organized communities, good planning and investment.
City officials need to understand that delivering on their long-overdue promise to NoHo doesn't answer the long-standing neglect of the Valley as a whole.
The Valley has waited too long to get its fair share of City Hall resources and leadership.
Some positive signs are visible. The Orange Line busway is a step in the right direction, as its massive popularity shows. Still, the Valley has paid more than its share of taxes and fees and gotten too little in return.
Now is the time to save the Valley and save the city. It's time to spread the NoHo mojo.
http://www.thefreelibrary.com/EDITORIAL+NOHO+MOJO+CITY+CAN'T+LET+INVESTMENT+LOSE.-a0147065850
THE economic and cultural rebirth of North Hollywood is a testament to what can happen to a depressed neighborhood when the powerful resources of the city are focused in its direction.
Although it took a decade after the completion of the subway, the promise of a Valley urban hub shows signs of being fulfilled in the next few years, thanks to the convergence of attention by the MTA and CRA, as well as tireless advocacy by Valley groups.
Property prices are increasing as new lofts and apartment buildings and stores rise from long-empty lots. The decrepit Valley Plaza is getting a multimillion-dollar makeover. The NoHo Arts District is becoming a modern-day reality. This neighborhood, so convenient to Hollywood's major studios, as well as on a straight subway shot to downtown, is a natural sell.
Call it NoHo mojo.
Even Rick Caruso, the Westside developer responsible for The Grove and the Commons at Calabasas, now says he may give a second look to a project in NoHo. At one time, he wouldn't consider it because of the crime and other negatives associated with NoHo.
That's as sure a sign as anything that the miasma clinging to North Hollywood for so many years is lifting.
But although NoHo construction is on the upswing and a vision is being developed that hopefully will make it a landmark region of the city, the need for strong leadership in the San Fernando Valley doesn't end there.
Indeed, while violent crime is down nearly 11 percent across the city from this time last year, it's up 8 percent in North Hollywood, according to Los Angeles Police Department statistics. Crime is down overall in the Valley, but the area historically gets shortchanged in police coverage, and that has not changed.
Declining neighborhoods in the Valley can still be revived, but safe streets are critical, as are well-organized communities, good planning and investment.
City officials need to understand that delivering on their long-overdue promise to NoHo doesn't answer the long-standing neglect of the Valley as a whole.
The Valley has waited too long to get its fair share of City Hall resources and leadership.
Some positive signs are visible. The Orange Line busway is a step in the right direction, as its massive popularity shows. Still, the Valley has paid more than its share of taxes and fees and gotten too little in return.
Now is the time to save the Valley and save the city. It's time to spread the NoHo mojo.
Sunday, April 16, 2006
Man Critically Injured In North Hollywood Shooting
Apr 16, 2006 2:41 am US/Pacific
Man Critically Injured In North Hollywood Shooting
LOS ANGELES (CBS) ― A man was critically injured in a shooting in North Hollywood Saturday night, just two miles away from a shooting outside a birthday party on Lankershim Boulevard.
The shooting happened in the 7000 block of Coldwater Canyon Avenue at about 9 p.m., Los Angeles police Sgt. Tom Wich said. The victim, whose name is being withheld, was in critical condition with two gunshot wounds.
There were no immediate arrests, Wich said.
Even though the shooting happened just 30 minutes later and in close proximity to a shooting outside a banquet hall birthday party, police do not believe the two incidents are connected.
http://cbs2.com/local/North.Hollywood.Shooting.2.515571.html
Man Critically Injured In North Hollywood Shooting
LOS ANGELES (CBS) ― A man was critically injured in a shooting in North Hollywood Saturday night, just two miles away from a shooting outside a birthday party on Lankershim Boulevard.
The shooting happened in the 7000 block of Coldwater Canyon Avenue at about 9 p.m., Los Angeles police Sgt. Tom Wich said. The victim, whose name is being withheld, was in critical condition with two gunshot wounds.
There were no immediate arrests, Wich said.
Even though the shooting happened just 30 minutes later and in close proximity to a shooting outside a banquet hall birthday party, police do not believe the two incidents are connected.
http://cbs2.com/local/North.Hollywood.Shooting.2.515571.html
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