March 8, 2011 |
Few major commercial real estate projects have launched in Southern California since 2008, when the economic downturn crashed the party. That may be about to change. Mall magnate Rick Caruso is set to break ground Tuesday on a $60-million luxury apartment and retail development near his Grove shopping center in Los Angeles. FOR THE RECORD: Luxury development: An article in the March 8 Business section about a housing and retail project planned by Rick Caruso on Burton Way at La Cienega Boulevard included a map that had two streets labeled as Beverly Boulevard.
CALIFORNIA | LOCAL
August 26, 2013 |
At 216 feet from stem to stern, the Invictus is a colossus of a yacht, complete with a gym, a theater and a dining room table that comfortably seats 20. And when billionaire developer Rick Caruso's mega-boat pulls in and out of Newport Harbor in the coming weeks, it will dwarf the cabin cruisers and sailboats that typically bob on the waters here. Even the long-running Balboa Island Ferry will be a speck in comparison. But the pending arrival of the Invictus and a second yacht, the 130-foot Marama, is also testing the patience of some Newport residents who say the massive vessels - even as temporary visitors - will be a nuisance and possibly lead to other large-boat owners making Newport Harbor a port of call.
November 22, 2011 |
Former Dodgers manager Joe Torre has discussed teaming with one of Los Angeles' most prominent real estate developers in pursuing the team. Rick Caruso, whose signature project is the Grove but who has not run a sports franchise, could strengthen a potential bid by aligning with Torre. The discussions between Caruso and Torre were first reported Tuesday by the New York Times and subsequently confirmed by the Los Angeles Times. Charles Sipkins, a spokesman for Caruso, declined to comment.
CALIFORNIA | LOCAL
November 4, 2010 |
In a surprise move, L.A. Memorial Coliseum Commission members Wednesday overturned a moratorium on raves put in place after the drug overdose death of a 15-year-old girl who had attended an event held at the public facility earlier this year. The move was sharply criticized by Rick Caruso, appointed by Gov. Arnold Schwarzenegger to serve on the joint city, county and state commission. "I strongly disagree with the action of the commission," Caruso said, adding that he did not attend the meeting because he was at a family event and that it was his understanding that no action would be taken on the rave moratorium.
November 30, 2010 |
Los Angeles developer Rick Caruso wants to expand his Americana at Brand shopping center in Glendale by taking over two adjacent properties, including a hotel. In a letter to the city's redevelopment agency released Monday, Caruso declared his interest in taking over the Golden Key Hotel and a vacant retail building at the southern edge of the Americana. He hopes to buy the properties from their owners but might ask the city to acquire them by eminent domain and sell them to him. "My hope is that we can just sit down and figure out a right price on a private basis and not make it a public process," Caruso said in an interview.
May 4, 2003 |
In dress and in carriage, Rick Caruso seems an emissary from another era, like F. Scott Fitzgerald's Jazz Age Jay Gatsby, a romantic contradiction of strength and insecurity. Here is a multimillionaire real estate developer who is paid a buck a year for serving as president of the Los Angeles Police Commission. Here is a bottom-line guy who wants to experience life as an artist, to be a creative force free of convention and routine.
February 24, 2012 |
Each of us, like it or not, finds his own calling in life. Frank McCourt has found his. He parks cars. We all stretch for bigger things. It is human nature. Draftsmen see themselves designing skyscrapers. Five-foot-eight high school basketball players see themselves in the NBA. McCourt saw himself as the owner of the Dodgers. After a while, we saw otherwise. We aren't sure exactly when the Peter Principle set in with McCourt, but the day he got on the plane in Boston and headed west is as good a guess as any. In the sports vernacular of the day, we thought we had put him behind us. He had walked down a dusty street at high noon, and Bud Selig drew first.
December 17, 2012 |
Los Angeles developer Rick Caruso is buying 10 retail properties on three parcels in the tony town center of Pacific Palisades, according to people who know about the deal. The acquisition will give Caruso the opportunity to restyle a significant portion of the affluent neighborhood's commercial district in his vision. Caruso, owner of the upscale Grove shopping center in Los Angeles, is in escrow on a 2.8-acre collection of commercial buildings on both sides of East Swarthmore Avenue and Sunset Boulevard known as Pacific Palisades village.
CALIFORNIA | LOCAL
January 16, 2001 |
Like the upscale suburban retail centers on which he's built his reputation, developer Rick Caruso is colorful but respectable. Elite but inclusive. Modern but rooted in tradition. European--in an American way. At 42, this lawyer turned deal maker sports an August tan in winter, wears expensive suits and can chat effortlessly about subjects from French chateaux to boating to suburban shopping patterns. He wears a look of calm and control. And a smile that seems to say: I'm suave.