June 15, 2011 |
Some years ago, I attended the funeral of a friend's mother at a Los Angeles cemetery so singular that it once was the target of a famous literary satire. Since the family was indifferent to religion, they availed themselves of the facility's nondenominational chapel, where a vague sort of nondenominational service was conducted by a nondenominational clergyman provided by the cemetery. All I recall from his homily that day is that he repeatedly referred to God as "the developer of the universe.
May 30, 2011 |
In the early positioning in the race to succeed Mayor Antonio Villaraigosa, most of the political energy is being generated by two candidates who are fighting for long-shot status. Developer Rick Caruso and investment banker Austin Beutner both want to be regarded as the preeminent candidate appealing to Republicans in the race, a mixed blessing in one of the nation's most stalwartly Democratic cities. Why would anyone want to be a Republican standard-bearer in a city where you could fire a cannon down Broadway at rush hour and not put a single Republican at risk?
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.
CALIFORNIA | LOCAL
May 13, 2011 |
Los Angeles shopping mall developer Rick Caruso questioned the intellectual firepower of City Council leaders Thursday in a blistering speech that could be his prelude to a run for mayor. He called the city's 13.4% unemployment rate "embarrassing" and argued that firms have fled town because of onerous regulations and taxes. The one-time head of the Los Angeles Police Commission has long been known for his brio and bluntness, and he has been one of the most vociferous critics of Los Angeles Mayor Antonio Villaraigosa, who he considered challenging for reelection in 2009 and who will be forced out by term limits in 2013.
March 17, 2011 |
Developer Rick Caruso has wooed Nordstrom away from the rival Glendale Galleria and will bring the department store to his Americana at Brand shopping center in fall 2013. To accomplish the move, Caruso is buying Nordstrom's building from the Seattle retailer. Although most of the Galleria is owned by General Growth Properties, it's common for major department stores to own their own real estate within a mall. Caruso wouldn't say how much he is paying for the Nordstrom building, located in a wing across Central Avenue from the original mall.
March 9, 2011 |
Real estate developer Rick Caruso said Tuesday that he has purchased the Golden Key Hotel in Glendale, clearing the way for an expansion of his Americana at Brand shopping center. Hotelier Ray Patel sold his 55-room inn to Caruso Affiliated for an undisclosed price and will continue to operate it as a tenant for the rest of the year, Caruso said. The transaction ends a standoff between Caruso and Patel, who previously rejected Caruso's $6-millon offer for the property. The hotel on Colorado Street and an adjacent former retail building Caruso bought earlier will be demolished to enlarge the mall.
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
February 26, 2011 |
Developer Rick Caruso has negotiated a deal to acquire the Golden Key Hotel as part of a bid to expand his 15.5-acre Americana at Brand in Glendale, attorneys for both parties said during a court hearing this week. The purchase price was not disclosed. But Golden Key Hotel owner Ray Patel estimated the value of the 55-room inn at $15 million to $17 million, according to papers filed this week in Los Angeles County Superior Court. The hotel's assessed value is $4.9 million, according to county records.
CALIFORNIA | LOCAL
December 3, 2010 |
The Glendale City Council is siding with Los Angeles developer Rick Caruso in his effort to expand the Americana at Brand shopping center. Acting as the city's redevelopment agency, the council Tuesday approved a plan to push the mall's neighboring property owners to negotiate the sale of their buildings to Caruso or work up their own plans for the intersection of Colorado and Orange streets. The owners of a hotel and vacant building next to the Americana will have 45 days to negotiate a sales price with Caruso, submit their own plans for redevelopment or face possible eminent domain proceedings.
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.