area newsletter AUGUST 2019 • LOS ANGELES
20 19
Community News VC Giant Softbank set to invest $40 Billion in New Tech Fund
After receiving backing from investors that include Apple, Goldman Sachs and the government of Kazakhstan, SoftBank is set to approve a $40 Billion investment into its new technology fund. According to the Wall Street Journal, the merger of Sprint Corp. and T-Mobile is what led to this free-up of investment funding for Softbank. This fund comes as a sequel to the $100 billion Vision Fund which provided substantial amounts of cash flow to startups like WeWork, Slack, WAG! and Katerra. With valuations topping $1 Billion, an increase in employment numbers, revenue and real estate ventures can be expected from this new tech investment fund which is also in talks with Microsoft for additional funding.
Dodger Stadium's Renovaion set to Bring new Retail Offerings Home to the ‘Boys in Blue’, Dodger Stadium’s $100 million renovation will also be home to a new twoacre entertainment plaza. The Dodgers’ Centerfield
Plaza will serve as a “front door” for the stadium with a bevy of food, drinks and retail options to chose from. According to a report by the Los Angeles Daily News, Dodgers President Stan Katsen seeks to “encourage people to come early, and to leave late if they wish”. At the helm of the renovation is senior planner Janet Marie Smith who also led a successful revamp of Boston’s Fenway Park and Baltimore’s new Camden Yards park. With other upgrades that include a new sound system, the Dodgers are aiming for completion of the upgraded stadium by the start of the next baseball season in late spring of 2020.
Relevant Group Plans for Skid Roq Affordable Housing Complex The Relevant Group is seeking city approval for a development plan that would allow for a 150-unit affordable modular complex in the heart of DTLA’s Skid Row. The proposed plan would replace the
current Single Occupancy rate rooms on site with new construction affordable units. The firm aims to keep development cost down by using modular construction and an accelerated permitting process. Modular construction involves building units offsite and then assembling on the project site. Relevant Group joins a handful of other affordable projects in
Community News the Skid Row area, a 95-unit project by Coalition for the Responsible Community Development and the Weingart Center’s two building project on San Pedro Street. As of 2019, developers have filed for or built 3,300 affordable unites and 13,100 marker rate units.
Co-Working firm Industrious sprawls out to Pasadena
Hollywood's booming development landscape
New apartment buildings, hotels and offices are changing the Hollywood landscape at a rapid pace. Since 2001, there has been a 261 percent increase in residential development in addition to the estimated 4,000 units in the works. Central Hollywood Coalition and Hollywood Property Owners Alliance predicts that office space will rise by 67 percent within the next two years. A few buildings that will be renovated and used as commercial spaces include: Amoeba Tower, Crossroads of the World, Academy on Vine, and Epic. Currently, there are 34 new projects in the pipeline for Hollywood that will ultimately transform the area and provide a new experience for corporations, tourists, businesses and local residents.
Industrious is expanding its way through LA with a new development planned for Pasadena. With ShopCore Properties also signed on, a 27,000 square foot co-working office space is underway at the One Colorado mixed-use development. Expected to open in 2020, the Old Pasadena site will include private offices and an event space. This project from the New York-based Industrious follows other planned co-working spaces throughout the city with another 22,275 square foot location set for Flower Street in DTLA and a newly opened one in Glendale. The firm already has locations open in Century City, West Hollywood, another in Downtown along with 100,000 square feet at the Howard Hughes Center in Playa Vista. This all comes as co-working office spaces are on the rise in Los Angeles, with Industrious joining other co-working companies like Spaces and WeWork.
Restaurant
Spotlight
Majordomo
Broken Spanish
Rosaline
1725 Naud Street Los Angeles
1050 S. Flower Street Los Angeles
8479 Melrose Ave. Los Angeles
Don’t forget to book your reservation tonight at Majordomo, with a menu chock full of a easy-to-share plates, from plush bing bread to Koreanstyle skate wing rice plus some big table-side mains. This is the first LA restaurant from the guy behind the NYC-born Momofuku empire, the food is categorized as modern Korean, this should not be mistaken for a Korean restaurant. It is a restaurant where you come to eat food that you cannot get anywhere else. The mix of cultures and cuisines are always presented, four or five of them are on offer any given night. Majordomo is open Monday-Friday 5:30pm-10pm and Saturday and Sunday from 11:30-2pm and then 5:30-10pm.
Drawing inspirations and flavors from a diverse community, Broken Spanish is a unique upscale Spanish restaurant serving up food tapas style. The cuisine has bold and spicy yet refined flavors. Preparations demonstrate elements of the chefs long established tradition, while the final dish is show cased with a modern appeal. Don’t forget to order one of their unforgettable margaritas they are among the best you’ll ever have. Broken Spanish is open Monday-Sunday from 5:30-10pm
The perfect Sunday Brunch spot, the traditional brunch foods are upgraded, Chef Zarate really takes you back to his roots with his menu of classic Peruvian dishes. But go for the truly unique offerings, like sweet potato pumpkin beignets, or their lobster roll served on purple corn brioche. The food is delicious, but the atmosphere is something not to overlook, the upscale restaurant has created a welcoming and modern ambiance making this the best brunch spot this weekend. Rosaline is open Monday-Sunday 6-9:30pm.
SIGHTS & SOUNDS in LOS ANGELES
The Broad Museum
Petersen Automotive Museum
221 South Grand Avenue Los Angeles, CA 90012
6060 Wilshire Boulevard Los Angeles, CA 90036
J. Paul Getty Museum 1200 Getty Center Drive Los Angeles, CA 90049
CURRENT EXHIBITION:
CURRENT EXHIBITION:
CURRENT EXHIBITION:
Soul of a Nation: Art in the Age of Black Power 1963-1983 March 23-September 1, 2019
Hollywood Dream Machines: vehicles of Science Fiction and Fantasy Open Now - May 2020
Eighteenth-Century Pastel Portraits August 28, 2018 – October 13, 2019
The Broad is hosting this special exhibit of artwork by AfricanAmerican artists who were active during the civil rights and black power movements of the 1960’s and 1970’s, and into the early years of the conservative Reagan administration. LA artists Charles White, Betye Saar, and William T. Williams are among the 60 artists whose work is featured. The exhibition is organized by Tate Modern and presented locally by Art + Practice, a Leimert Park-based organization.
Hollywood Dream Machines: Vehicles of Science Fiction and Fantasy explores cult classic films and stories that have envisioned fantastic futuristic worlds, technologies, characters and cars. Through props, design drawings and physical vehicle models, this exhibit brings pop culture’s visions of dystopian, utopian, and science fiction worlds to life.
Celebrating a medium that is often overlooked in other time periods, this exhibit delves into the favored form of portraiture in late 18th century Europe. Pastels allowed the artist to create classically beautiful works without the arduous process that oil painting often requires. This flexibility coincided with the growing class of people who patronized portrait artists, creating a unique body of work that represented both an evolving craft and an evolving society.
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