Downtown Weekly LA

on the cover: ANTONIO PELAYO

SOUTH

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photo by MARS SANDOVAL location : civic district

ONE DOOR CLOSES ANOTHER DOOR OPENS FOR BROOKFIELD

Brookfield’s Gas Company Tower, one of the investment management firm’s core assets in Downtown L.A., has been placed into receivership by Citi Real Estate Funding and Morgan Stanley.

Last month, the lenders filed a lawsuit last week asking the court to appoint a receiver on the property, an alternative to bankruptcy, according to L.A. Superior Court documents. Brookfield defaulted on two senior loans attached to the property in February, one for $210 million and another for $140 million.

The receiver, Gregg Williams of Trident Real Estate Group, has the authority to “market, advertise, promote, and negotiate the sale of the property,” according to a court filing. Williams has already tapped a Colliers team led by Ian Gilbert, who used to work at Brookfield, to manage and help lease up the property. If successful, any proceeds of the sale would go to pay creditors. With a receivership, a court appoints a third-party to help make creditors whole, without having to file for bankruptcy. Receivers can also restructure and refinance debt to resolve delinquent loans.

Brookfield defaulted on the loans for two reasons, according to court documents. First, it failed to pay off the loan in full by the maturity date of Feb. 9, and second it failed to pay an advance of $3.6 million in property taxes by April 10. Under the loan agreement, Brookfield was required to pay 3 percent in additional interest if it defaulted. The loans held an interest rate of Libor plus 1.89 percent, according to filings with the Securities & Exchange Commission.

Over the last year, Brookfield has struggled with rising debt payments on the building, coupled with stagnant lease activity. At the end of September, the Gas Company Tower was about 73 percent leased — no change from the prior quarter, according to SEC filings. The company reported $27.3 million in yearly base rent at the tower in December, or about $2.3 million a month. That wasn’t enough to cover the new debt service payments, which shot up as interest rates soared in the second half of 2022. Combined with the monthly interest payments on mezzanine loans connected to the building, the total debt service in December came out to about $2.7 million — more than double its payments just a few months prior.

Despite this setback, a new opportunity has arisen with the opening of Beaudry, one of the City’s tallest residential buildings. The 64-story building boasts 785 residential units and stands on a long-vacant property at 960 W. 7th Street. Beaudry was designed by Marmol Radziner and features a mid-century modern inspired, indoor-outdoor aesthetic.

While Brookfield faces battles with its Downtown L.A. portfolio, including the recent write-down of the value of its 45-story office tower at 355 South Grand Avenue, the opening of Beaudry provides a new opportunity for the company. In addition to Beaudry, Brookfield is also planning to construct a 34-story residential building adjacent to Bank of America Plaza, and has Adidas and Forever 21 as office tenants at the revamped California Market Center in the Fashion District.

Overall, while Brookfield may have experienced a setback with the receivership of the Gas Company Tower, the opening of Beaudry and other future developments offer new opportunities for the company to thrive in the Downtown L.A. market.

UPDATE: Brookfield will hold on to the shopping mall known as Figat7th. Despite recently defaulting on $784 million in loan, the firm has successfully obtained a three-year extension refinancing for a $58.5 million loan on Figat7th from MetLife.

Leasing team showing off the sunset during Opening Night at Beaudry - Photo by Keri Freeman

ANTONIO PELAYO El Latido del Corazón de la Ciudad

Antonio Pelayo is a beloved figure in the vibrant arts and culture scene of Los Angeles, California. He's a veteran artist and an accomplished event producer, with his most successful events being the thrill-packed adventure of La Bulla Mexican Wrestling and El Velorio, an annual artistic collaboration pumping new life into the traditional Mexican holiday, Dia De Los Meurtos or Day of the Dead.

With La Bulla, expect the excitement of live Lucha Libre, food, drinks, car shows, movie screenings, and fashion shows with the slamming, eclectic lineup of extremely talented musicians from various musical genres. With El Velorio, expect fans, celebrities, a list of prominent figures in the arts, and the absolute most elegant portrayal of lovely bones still in existence.

Unlike typical Dia de Los Muertos festivals, as one might find on a school trip at city a park, El Velorio is 21 plus, and commemorates the end of the Day of the Dead with a blend of traditional Mexican food, dance, art, fashion and live music.

The main vein of El Velorio has always been its flowing parade of La Cantinas and Maquiladoras, returning fans of the event who adorn themselves with elaborate costumes and makeup designs.

Looking back, the first El Velorio took place with only 25 artists and roughly 500 visitors. Fast-forward to the present, and El Velorio has become the largest event honoring the Day of the Dead in all of Los Angeles, drawing in massive crowds and the attention of local media outlets including NBC, LA Times, LA Weekly, Univision, and Telemundo.

A true visionary, Antonio transforms every production into an unforgettable experience, seeing every space as his canvas to be filled with art and culture. Since 2010, despite the challenges that come with producing events, he always finds a way to make his events happen through resilience and determination.

Antonio's passion has been passed down at least one generation to his son, Isaac Pelayo, who has made a name for himself as a talented artist and muralist of late. Together, the father and son duo collaborate on many projects, including producing an Aztec-themed mural and local landmark in East LA.

On June 3rd, Antonio will produce the 2nd Annual House Issues. DJ performances will be held across 3

stages, showcasing 90's House Music and Party Crews from LA and surrounding areas through a stacked line-up of live DJ performances and an art gallery exhibition.

In the past, the enormous vogue of 90's House Music and Party Crews in Los Angeles were criminalized by media outlets and criticized by older generations. Antonio and his crew look forward to breaking the widespread narratives of the time with another event bent on connecting like-minded people through experience and creativity while hosting a crowd made up of the same diversity that makes up Los Angeles.

In addition of hosting the Housing Issues event at Plaza de la Raza in DTLA on June 3rd, Antonio works with the Plaza, a non-profit, whose mission is to incorporate art education in public schools to inspire young artists to discover and hone in on their talents.

Antonio Pelayo's impact on the arts and culture scene of Los Angeles is becoming immeasurable. Creating unforgettable experiences that bring communities together is a proud legacy surely to endure for years to come. @antoniopelayo

Photos by Mars Sandoval

DTLA TAXES A

Led by Samir Bitar, a Senior Tax Analyst with an MBA from Carnegie Mellon University, DTLA Taxes provides comprehensive tax services to independent contractors and entrepreneurs. What sets DTLA Taxes apart from other tax preparation services is its commitment to educating clients about tax law, strategies, and planning. This is especially crucial for historically marginalized and disadvantaged individuals who may lack access to critical knowledge, which can negatively impact their business's financial health. DTLA Taxes provides affordable tax expertise to ensure that everyone has access to high-quality tax services.

Many small businesses that file their own taxes using online tax software end up overpaying federal taxes, especially for those with multiple streams of income and expenses. Working with DTLA Taxes not only provides peace of mind but also saves time and money.

Samir Bitar's passion for empowering people in his community drives him to offer affordable tax services to everyone. With DTLA Taxes, small business owners and individuals can rest assured that the IRS is working for them, not against them. Samir's expertise in tax law helps his clients keep more of their revenue and make informed short-term decisions that positively impact their financial health in the long run.

Gig workers or a small business owners who need expert advise on how best to file their taxes should call DTLA Taxes at 213.855.6421 to schedule a consultation. Don't let tax filings be stressful – DTLA Taxes may help you navigate the tax code with confidence. www.dtlataxes.org

s tax filing deadlines approach, gig workers and small business owners in Downtown LA may feel overwhelmed and uncertain about how best to prepare their taxes. The intricacies of the tax code can be challenging to navigate, leaving many unsure if they're paying the correct amount of taxes. Fortunately, DTLA Taxes is available to assist you with expert tax preparation services.

DTLA Taxes offers its services both virtually or in-person at their location in the Gas Tower Building. For a limited time, they are offering a discount special with the coupon code DTLAWKLY22.

IN A WORLD FULL OF COOKIES...BE A MACARON!

VERóN OPENS ON 6TH

In a world full of cookies, be a macaron! That's the motto of Verón, a new downtown Los Angeles-based bakery that specializes in plantbased French macarons, lite bites a fresh coffee.

For those who know, macarons (not to be confused with macaroons) are delicate French pastries that require precision, skill, and incredible patience to make. The process which includes everything from weighing and sifting the ingredients to carefully piping the batter onto dozens of baking sheets can be quite difficult, but the end result is a small, colorful, treat so delicious it’s withstood the test of time.

For 14th Century King Louie II, the preparation of macarons required a keen attention to detail, as even the slightest deviation from the recipe could have resulted in a disastrous outcome.

The perfect macaron should have a slightly crispy exterior, with rich sweet filling that surrounds each royal taste bud with every bite.

Better yet, your Royal family can enjoy the same sophistication popular among the French aristocracy for centuries just by visiting the corners of 6th and Los Angeles.

At Verón, DTLA can find such varieties of chocolate, pistachio, passion fruit, raspberry, blueberry, vanilla, and mocha, among rows of others. Some are even adorned with gold leaf. Any king would love that. Yet, still there is something else

that makes macarons at Verón a DTLA instant favorite…

Verón is proud to offer all-natural vegan versions of this classic dessert. Gluten-free, palm-oil free, and free of artificial flavors and colors the pleasure is far from guilty.

Founded by Shera Fournier in September 2020, Verón has quickly become a popular choice for those seeking innocence in the form of conscious indulgence. Shera, who has a degree in Applied Mathematics from Loyola

Verón's macarons are not only delicious and aesthetically pleasing, but they also fit nice on display at catered events and are even more impressive situated inside one of Verón’s quaint, pink, signature boxes.

With a little bit of class, and pastel luxury, coffee, macarons and free wi-fi, Verón's location is an excellent way to treat yourself or someone special, but it all began long before the grand opening in the Historic Core. Obstacles, including being a small self-funded woman-owned business running a business for the first time we’re thankfully eased due to huge support and free resources available through city programs and non-profits.

“After launching in 2020 online we quickly expanded to pop ups and are now sold in over 30 stores and cafes across the country in addition to shipping out thousands of macarons per week directly to customers. We are excited to expand our offering in our shop where customers and build custom boxes, pickup our non-shippable macarons, other treats and our delicious line of plant based coffee and tea drinks.”

Marymount University, grew up vegetarian and wanted to create a brand that encompassed her vegan values and desire for a little indulgence.

“Growing up vegetarian I often felt deprived of the cuter, fancier indulgences. I felt often times vegetarian and vegan was associated with a hippier vibe which I can appreciate but I love a little indulgence in my life and wanted to create a product, brand, and space that encompassed my vegan values and desire for a little indulgence. We like to call our product a conscious indulgence.”

Since, Verón has received media coverage from VegNews, VegOut, Thrillist, LA Weekly, and EaterLA. They've also worked with Support and Feed, Maggie Baird's foundation, donating macarons about once every month to those in need.

Verón's future looks as bright and colorful as her display of macarons as Shera continues to expand her retail location to serve the downtown community better. As they get busier, they plan to offer more seating, including outside seating, expand their menu, and offer baking classes and monthly events in their space. @theveronmacarons

By Keri Freeman

10 GREAT GIFTS FOR MOM YOU CAN ONLY FIND IN DTLA

Mother’s Day is just around the corner, when looking for the perfect gift for Mom, look no further than Downtown Los Angeles. From unique and quirky finds to luxurious pampering options, here’s 10 great gifts for Mom that you can only find in Downtown LA.

Three. Brunch at The 1917 Wine Bar & Bistro

Treat mom to a unique and memorable Mother’s Day brunch at 1917, the newly constructed outdoor dining patio at San Antonio Winery. Located in historic Lincoln Heights, just north of Chinatown, this chic outdoor patio offers a trendy and vibrant atmosphere, complete with smooth live jazz. The 1917 Mother’s Day Wine Pairing event features a four-course menu with your choice of entrée, hamachi crudo, meat balls Al Forno, speck pinsa, quiche, avocado toast, and green leafy salads, all carefully paired with some of the best wines in the Riboli Family Wines portfolio. @1917la

Four. Innocent Indulgence at Verón in the Historic Core

Surprise your mom with a colorful and delicious gift box from Verón, a newly opened pastry shop becoming known for its macarons and sweet treats in Downtown LA’s Historic Core. Verón’s macarons are handcrafted with a variety of flavors, including guava, lavender, pistachio, chocolate, and Earl Grey, with many adorned with cookie crumbs, chopped nuts, and even gold leaf. Best of all, Verón’s macarons are all vegan and gluten-free, making them an innocent pleasure. @theveronmacarons

One. Mom’s New Bestie!

Looking for a gift that will bring good luck and enhance the decor of your mom’s place? Consider getting her a tiny Bozu plant, known as a good luck charm and a great conversation piece. Each plant is carefully selected to match a handcrafted pot, making it a unique and personalized gift that your mom will treasure. You can find these plants at Boxx Coffee in the Arts District or every other month at the Little Tokyo Street Fair. With this gift, your mom will not only have a bit of nature to enjoy but also a symbol of good luck and a chic piece of decor. @bozu_la

Two.

Relax to the Max at The Sauna Lab in South Park

Give mom the gift of relaxation at The Sauna Lab, located in the South Park neighborhood of Downtown LA. South Park is quickly gaining a reputation for its growing number of health facilities, and The Sauna Lab is at the forefront of this trend. Infrared sauna sessions offer a wide range of benefits, including relaxation, detoxification, improved circulation, and reducing the signs of aging. What better way than showing your mom how much you care than allowing her the opportunity to escape from the stresses of the big city. @thesaunalab

The Sauna Lab of South Park

#10 GREAT GIFTS FOR MOM

Five. Exquisite Dining at Ootoro Sushi and Sashimi Japanese Restaurant in Little Tokyo

With its high ceilings and stunning views, your mom will never get tired of looking out of the window. Ground level Downtown may be hectic at times, but 20 stories up, you’ll find the absolute serene and luxurious living experiences in the world, complete with outdoor decks, dog parks, swimming pools, fitness facilities, and much, much more. @ loftwayla

Seven. Flowers in Bloom at the Flower District

Music Center, located in Bunker Hill in Downtown Los Angeles.

The Music Center boasts three elaborate theaters, Grand Park and Walt Disney Concert Hall.

This Mother’s Day, experience the power of Bernard Herrmann’s remarkably inventive strings-only composition as the Hollywood Bowl Orchestra underscores the emotional tension of the soul-searing plot of Psycho, one of the greatest—and most nervewracking—films of all time, at the Walt Disney Concert Hall. The Music Center is also featuring Othello, at the Ahmanson Theater. Here’s a story of a beloved leader, a distinguished military commander, and a devoted husband whose life unravels after an envious subordinate introduces the notion that the mother of his children, Desdemona, might possibly be unfaithful. What a way to go. @musiccenterla

Nine. Nature Escape in Chinatown

Treat your mom to an exquisite dining experience at Ootoro Sushi and Sashimi Japanese Restaurant. Take her out for a luxurious dinner at Little Tokyo’s most beloved high-end Japanese Sushi restaurant. Ootoro boasts a sophisticated dimmed atmosphere, with purposeful lighting that shines down just enough to spotlight each sushi cut. Only the freshest and highest quality ingredients in their dishes, providing only the finest and freshest dining experience downtown has to offer. For the ultimate experience, opt for the Omakase, where the chef prepares a unique and personalized menu for each guest. @ootorola

Six. The Gift of a Luxurious Downtown Lifestyle with Loftway

Loftway is one of Downtown’s oldest and most trusted real estate firms, specializing in high-rise lofts for sale or lease. We trust in Loftway’s expertise and experience to find the ideal loft for your mom’s extended staycation in Downtown LA.

All Moms Love Flowers: But do they know where flowers come from? We do.

All flowers come from Downtown Los Angeles, or at least it seems that way after a visit to the Los Angeles Flower District. Located on Wall Street between 7th and 8th streets, the Los Angeles Flower District is home to millions of freshly cut aromatic flowers and endless possibilities for floral displays. With a spectacular and unequaled array of the freshest greens, pastels, and solid reds, many of them California-grown, along with an impressive and overwhelming selection of floral supplies, you’re sure to find something, from a simple bouquet of daffodils to an elaborate display of roses, to represent how much love there is for Mom. @laflowerdistrict

Eight. Theater Magic at The Music Center on Bunker Hill

Treat Mom to a night out at the worldclass performing arts venue, The

Make this Mother’s Day extra special by treating your mom to a calming and relaxing day at LA State Historic Park. After all those times she provided you with a go-to of mother’s love, here’s a chance to repay mom with a peaceful day at the park. Bring a blanket, cheese, and a bottle of champagne, and spend some quality time while taking in the serene surroundings.

Clockshop’s 3rd Annual Community & Unity Peoples Kite Festival is taking place at the park this weekend, sure to make for a fun way to bring back those memorable days of innocent youth. @lastatehistoricpark

Ten. Shopping Spree for Mom in Downtown LA

Moms young and old love to shop, and Downtown LA has become one of the hottest shopping destinations in the city. From the Fashion District finds to our valued malls, a Sunday of shopping in DTLA begins with free parking and ends with loaded bags of natural wears, designer tags, and a fresh new look.

Visit Macy’s at The Bloc or Nordstrom at Figat7th, or explore one of the many boutiques at the Row DTLA. With so many exciting options to choose from, the perfect gift to make her feel loved this Mother’s Day is in Downtown Los Angeles.

Fizzy Goodness Headed to Grand Park – DTLA to Welcome First Seltzerland Fest

Seltzerland festival is almost ready to fill DTLA tummies with sweet bubbles. The festival is set to take place at Grand Park in Los Angeles.

Creators of Seltzerland Frstival are dedicated to introducing people to the many varieties of hard seltzer flavors and celebrating the lighter side of brews. Kate Levenstien, founder and CEO of Cannonball Productions, producers of the event, explained that they will have over 25 different brands, each bringing at least four different flavors to provide attendees with the opportunity to sample and taste many different kinds of seltzers.

Hard seltzers, which are alcoholspiked carbonated water drinks, have been growing in popularity in recent years. Industry giants such as White Claw, and beer companies like Heineken USA, Anheuser-Busch, Boston Beer Co. (makers of Sam Adams), and Corona have launched their own versions of hard seltzers. As the trend has caught on, the traveling festival, Seltzerland, has been bringing the fizzy goodness to cities across the US, including Boston, New York, and Chicago.

The festival made its debut in Long Beach last year and now comes to downtown Los Angeles with a lineup of national seltzer makers and local breweries too. Among the locals taking part in the festival will be Anaheim-based Brewery X, which brews several varieties of hard seltzers, including a Huckleberry Hard Seltzer as well as watermelon lime and kiwi strawberry flavors.

For those who want to get the most bang for their buck, they should try the Blackberry Mojito, Jungle Juice, and Paloma hard seltzer flavors that come in between 10-13.5% alcohol by volume. Corona’s Storytellers Brewery will also be there, pouring brews like the Pineberry Hard Seltzer and Flightless Dragons Kiwi Strawberry Seltzer, plus hard teas like the Berry Wild Cape Town Hard Tea.

The CANtina is another unique feature of the festival, a sort of a separate beer garden, or seltzer garden, within the festival that is open to all ticket holders. Here, attendees can find canned cocktails with tequila-infused drinks from brewers like Irvine’s Caza Azul, makers of tequila sodas that come in flavors like lime, peach, and mango, plus drinks made with Ghost Tequila. The spicy tequila lovers won’t want to miss out on the kick from Ghost Tequila.

This festival is all about having a good time and exploring new flavors, making it an excellent opportunity to discover your new favorite seltzer.

The festival will take place from 11 a.m. to 6 p.m. on May 13, and tickets range from $49-$75. @seltzer_land

Photo Courtesy of Seltzerland