April 22, 2012 |
After an extended lull brought on by the economic downturn, commercial real estate developers are building again. Some of the activity involves the revival of projects that stopped during the recession, but many others are new from the ground up and mark the return of construction cranes to the Southern California skyline along with the injection of billions of dollars into the local economy. An intense demand for apartments is the biggest driver of development, as the improving economy supports the formation of new households.
April 24, 2013 |
Longtime rival shopping centers Americana at Brand and the Glendale Galleria are tying the knot with splashy new improvements on Brand Boulevard in downtown Glendale. The changes come as the side-by-side malls usher in new premium tenants - Nordstrom moving from the Galleria to the Americana in September and Bloomingdale's opening just down the street in the Galleria in November. Los Angeles real estate developer Rick Caruso, who owns the Americana and a portion of the Galleria, announced $60 million in improvements to the Americana focused on linking the Nordstrom and Bloomingdale's stores under construction at the two malls.
CALIFORNIA | LOCAL
March 22, 2002 |
Stepping up their criticism of Los Angeles Mayor James K. Hahn and his administration, about 100 people called Thursday for him to fire Police Commission President Rick Caruso because the commissioner allegedly used a slur to refer to U.S. Rep. Maxine Waters (D-Los Angeles). Brotherhood Crusade President Danny Bakewell and City Councilman Nate Holden said at a rally outside City Hall that they will continue protesting until Caruso leaves his post.
CALIFORNIA | LOCAL
May 9, 2012 |
Austin Beutner, the wealthy former investment banker who struggled to gain traction in his yearlong campaign for Los Angeles mayor, dropped out of the race Tuesday. In an email to supporters, Beutner said he wants to spend more time with his wife and four young children. And in an unusual move, he pledged to pay back every person who contributed to his campaign. His exit comes after months of fundraising struggles, churn among his campaign staff and a recent poll that showed him capturing a dismal 2% of the likely vote in next year's election to replace Mayor Antonio Villaraigosa, who will be termed out. Beutner says money wasn't a factor in his decision, and said he had been prepared to pump his personal wealth into the campaign to accrue name recognition.
CALIFORNIA | LOCAL
September 3, 2013 |
A man has been hospitalized following an officer-involved shooting Tuesday morning in a residential neighborhood in Irvine, police said. The man's condition was not known. The shooting in the 1100 block of Crested Bird occurred at about 10:40 a.m., said Sgt. Scott McClellan with the Irvine Police Department. No officers were injured in the shooting, McClellan said. There was no additional information on the man who was shot or what prompted the incident. ALSO: Rick Caruso gets permit to moor mega-yacht in Newport Beach Infant who drowned in a bathtub is identified; autopsy pending Rim fire: Pot-growing operation near Yosemite may have sparked blaze email@example.com Follow Adolfo Flores on Twitter .
November 11, 2012 |
With apartments holding strong as the hottest class in commercial real estate, developer Rick Caruso is testing the limits of the luxury category in Los Angeles with his residential complex that just opened on Burton Way. The developer, best known for his plush outdoor shopping centers such as the Grove, spent $65 million building an 87-unit complex where the cheapest apartment is $4,500 a month and many cost more than $10,000. “Those are New York rents,” Caruso acknowledged.
CALIFORNIA | LOCAL
February 24, 2001
Developer Rick Caruso said Friday that he had turned down Mayor Richard Riordan's request to take Gerald Chaleff's place on the Los Angeles Police Commission. Caruso said he was "deeply honored" that the mayor asked him to serve on the civilian oversight panel, but wants to continue his work on the city's Department of Water and Power commission. "I feel compelled to remain on the board to help craft a statewide solution to our energy crisis," Caruso said.
May 13, 2011 |
Glendale's Americana at Brand shopping center will open an Apple retail store, the mall's owner said, joining an existing Apple location across the street in the neighboring Glendale Galleria. Real estate magnate Rick Caruso, who owns the Americana, told a luncheon audience Thursday that an Apple store would be added to the open-air property's lineup, which includes Barnes & Noble, Juicy Couture, Anthropologie and H&M. He later declined to provide further details. An Apple Inc. spokeswoman confirmed that the tech giant was hiring for a store at the Americana but also declined to provide details, saying no announcements had been made.
February 27, 2012 |
British fashion chain Topshop is coming to Los Angeles. The retailer is slated to open its fourth American store at the Grove shopping center in L.A.'s Fairfax district by the holiday season. The chain, which makes cheap-chic clothes much like competitors Forever 21 and H&M, will take over a 25,000-square-foot location currently occupied by Banana Republic, which is moving to a smaller space in the outdoor shopping mall. Rick Caruso, the real estate developer behind local shopping malls such as the Grove and the Americana at Brand, said he had been in talks with Topshop owner Sir Philip Green for the last two years and had campaigned for a Los Angeles location.