Around the Corner

Happy Holidays to Everyone!

As the year winds down, deal activity across Southern California is still making headlines.

• Pimco, Witkoff firm in default on $400M loan tied to Santa Monica apartments

• Brookfield is marketing for sale FIGat7th, a 330,000 sf DTLA retail center anchored by Nordstrom Rack, Sephora, Target, and Zara, carrying a $59 million loan from MetLife due in 2026

• Waterton acquires 395-unit Motif Residential Community in Woodland Hills, CA

The Week Ahead

LA City Council and Other Meetings in Recess for the Holidays

Week in Review

Highlighted Applications

City of LA 

• 4276 Van Nuys Blvd, VTT-84941-SL-SH-HCA: SB 684 development for 8 lots for a total of 8 small lots and an ADU in the RD1.5 zone

• 18362 Ventura Blvd, DIR-2025-6986-SPPC-WDI: Change of use from two auto repair garages to two outpatient medical office uses with addition and tenant improvement

• 855 N Orlando Ave, VTT-85033-SH-VHCA: Starter Home Revitalization Act (SB 1123) development for 6 lots for a total of 6 small lot homes and 6 ADU's located in the R1-1 Zone

• 3701 N Alta Mesa Pl, ZA-2025-6962-CU1-HCA: Construction of new 2-story SFD with attached 3-car garage over basement and swimming pool, decks, and open trellis

• 7811 S Western Ave, EAR-2025-6948-DB: Construction and maintenance of a 100% affordable housing project, ahip for 2 on-menu and one off-menu incentives

• 4505 Prospect Ave, EAR-2025-6917-TOIA-HCA: Mixed Income Incentive Program (MIIP) Transit Oriented Incentive Area 2 project. Proposed bldg is 36 feet high, approx 9051 sf of floor area, 15 D.U., & 4 parking stalls in the SNAP and RD1.5-1XL Zone

• 7951 Beverly Blvd, EAR-2025-6924-DB-VHCA: The construction of a new mixed-use building containing 135 residential dwelling units and approximately 5,826 square feet of ground-floor commercial uses

Highlighted Completions

City of LA

• 1453 W Court St, DIR-2025-4013-SPPC: Approved with Conditions change of Use from Adult Day-Care to Business Training and Skill Development Center

• 5909 N Variel Ave, DIR-2025-5809-AH-SPPC-VHCA-RED1: Approved with Conditions 100% affordable RED1 project, and Warner Center SP review compliance for a new 316 unit multi family building

• 9938 Clybourn Ave, DIR-2025-5286-SPPC: Approved with conditions the construction of an existing 12-unit apartment building into 12 condominiums with 12 covered parking spaces in two detached garages

• 3000 Beach Ave, DIR-2025-5967-MEL: Approved with conditions to remodel the existing single-family dwelling and convert the existing attached garage into a junior ADU according to GCS 66323(a)(1) and 66333.

• 2027 Colby Ave, VTT-84837-CN-VHCA: Approved with conditions the demolition of existing structures for the construction of 40 detached, 3-story SFD units including 2 units set-aside for VLI households

• 1223 Vine St, CPC-2020-1830-GPA-VZC-HD-MCUP-SPR: Terminated general plan amendment, vesting zone change, height district change, conditional use permit, master conditional use permit, waiver of dedications and improvements, site plan review