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VOL 16 NO 08 - MARCH 31ST - APRIL 6TH, 2022 DTLAWEEKLY.COM
In addition to job creation, the project will generate an estimated $12 million in recurring tax revenues and $2.4 million annually in local property tax revenues for the county.
Since launching its urban real estate program in 1996, the firm has invested $13 billion in urban properties.
Say it Loud! …Minority leaders of LA must be proud.
Among the properties are the Time Warner Center and Level BK in New York City, Bay Street Emeryville and Venn on Market in San Francisco, North Bethesda Market in the greater Washington, D.C., and downtowns own Trademark, Park Fifth Tower and the Hotel & Residences at L.A. Live.
Guided by the principles of Affirmative Development™, The Peebles Corporation creates economic opportunity and prosperity environments for minorities and women in business. As the nation’s leader in acquiring and developing large-scale urban properties through public-private partnerships, Peebles has successfully conducted the most successful real estate developments through this method than any other company. Founded in 1983 by Don Peebles, The Peebles Corporation’s portfolio of active and completed developments totals $8 billion in New York, Boston, Philadelphia, Washington D.C., Charlotte, Miami, San Francisco, and Los Angeles. Founded by Victor B. MacFarlane in 1987, MacFarland Properties has pioneered the urban investment concept among institutional real estate managers in the 1990s. Today MacFarland is a leading investor and developer of properties that promote smart growth, urban revitalization and sustainability in urban and high-density suburban submarkets of top-tier metropolitan areas nationwide.
The project has received solid support from various leading L.A. organizations, including The Greater Los Angeles African American Chamber of Commerce (GLAAACC), and UNITE HERE! Local 11. GLAAACC Chairman Gene Hale said, “We’re excited to see the commitment to equity and inclusion through minority-owned and women-owned business procurement and equally high level of diversity in the workforce that will manage and operate its luxury hotels.” UNITE HERE! Local 11, which represents over 32,000 workers employed in hotels, restaurants, airports, sports arenas and convention centers throughout Southern California, has strongly advocated its support as well. “Angels Landing is the latest example of how the City of Los Angeles can direct development to lift up its citizens,” said UNITE HERE! Local 11 Co-President Kurt Petersen. @ANGELSLANDINGDLTA
