DTLA LIFE MAG #19 | JULY 2015

DTLA LIFE July 2015 www.dtlalife.com

REAL ESTATE: 10 YEARS IN DTLA GET URBAN INITIATIVE WHAT’S UP DOWNTOWN? WITH HAL BASTIAN DOG DAY AFTERNOON LIFESTYLE | ART | DESIGN | FASHION WALLPAPER IS BACK BAHIA GOLD WE’VE GOT YOUR NUMBER TRAVEL: ESCAPE TO CHICACO

TM

RITZ-CARLTON RESIDENCES AT LA LIVE 3 BEDROOMS | 4 BATHS | 4,250 SQFT. Offered at $8,800,000.00 by appointments only | www.laloftsrealty.com

CalBRE # 01822666 |Listing Courtesy of BIG BLOCK REALTY If you are already represented by a licensed agent, this is not a solicitation to represent you.

DTLA LIFE

TM

July 2015 www.dtlalife.com

REAL ESTATE: 10 YEARS IN DTLA GET URBAN INITIATIVE WHAT’S UP DOWNTOWN? WITH HAL BASTIAN DOG DAY AFTERNOON LIFESTYLE | ART | DESIGN | FASHION WALLPAPER IS BACK BAHIA GOLD WE’VE GOT YOUR NUMBER TRAVEL: ESCAPE TO CHICACO

DTLA LIFE

TM

July 2015

Publisher ULTIMATE LIFE LIVING, llc 215 West 5th Street #1103 Los Angeles, CA 90013 213 221 7090 Editor in Chief Alex LiMandri, alex@laloftsrealty.com Associate Editor Tiffany Gatto, tiffany@dwellhomes.com Art Director Alex LiMandri Contributing Writers Cinnia Finfer - Retail Tiffany Gatto - Real Estate Jim White - Community Petra Wright - Art Janene Zakrajsek - Pets Juliane Pease - Design Lori Tierney - Lifestyle Margalette Audion - Fashion Dave Culwell - Finances

COVER: Natalia Knezevic Photography www.dtlalife.com www.laloftsrealty.com www.dwellhomes.com

Wow, how time flies! It has been 10 years since the team at LA LOFTS | Realty ® has been inviting new Downtown LA Lovers to experience everything DTLA has to offer. In the past decade we have seen many changes—a remarkable renaissance that has surpassed everyone’s expectations for the ongoing development of our city center. Downtown LA has become the center of it all—culture, entertainment, sports events, new retail projects and of course the best of all, the people that love our city and who are proud to help make it a better place to live and work every day. When I moved here from Paris, France in 2005, I saw something special in the gritty neighborhood that everyone was trying to stay away from. Ten years later, I now see people searching to buy the perfect loft or a multi-million dollar condo where they want to spend their time and enjoy what this amazing city has to offer. Times have changed and I no longer hear questions like, “Where do you go grocery shopping?” Rather, people are now saying, “Can you believe Whole Foods is ready to open soon and Soho House in on the way”? In 2015, I am looking forward to seeing what the next 10 years will bring, and I am welcoming more new residents who will help create the best city in America. DTLA LIFE will be there to share all the exciting news as DTLA continues to evolve and grow.

Thank you for being an important part of this exciting transformation.

Alex LiMandri Editor-in-Chief DTLA LIFE TM www.laloftsrealty.com www.dwellhomes.com www.dtlalife.com

FROM THE EDITOR

Natalia Knezevic Photography

FEATURED LA LOFTS | Realty® Alex LiMandri , Jim White & Tiffany Gatto CalBRE # 01822666

info@laloftsrealty.com www.laloftsrealty.com

D LISTINGS

(213) 626 5433

1 BEDROOMS | 2 BATHS| 1,840 SqFt + 400 SqFt

CalBRE # 01822666 |Listing Courtesy of BIG BLOCK REALTY If you are already represented by a licensed agent, this is not a solicitation to represent you.

EASTERN COLUMBIA #1003

$5,500/m

4 BEDS | 3.5 BATHS | 4,250 SqFt CalBRE # 01822666 |Listing Courtesy of BIG BLOCK REALTY If you are already represented by a licensed agent, this is not a solicitation to represent you.

RITZ-CARLTON #47G

$8,800,000

(213) 626 5433

1 BEDROOM | 1 BATH| 1,190 SqFt + TERRACE CalBRE # 01822666 |Listing Courtesy of BIG BLOCK REALTY If you are already represented by a licensed agent, this is not a solicitation to represent you.

EASTERN COLUMBIA

#1009

$899,000

(213) 626 5433

LOFT | STUDIO | 1 BATH | 610 SqFt + PATIO CalBRE # 01822666 |Listing Courtesy of BIG BLOCK REALTY If you are already represented by a licensed agent, this is not a solicitation to represent you.

HIGGINS LOFTS

#210

$1,995/m

(213) 626 5433

1 BED | 1 BATH | 610 SqFt + 2 PARKING SPACES CalBRE # 01822666 |Listing Courtesy of BIG BLOCK REALTY If you are already represented by a licensed agent, this is not a solicitation to represent you.

1100 WILSHIRE #31K

$1,995/m

LET’S TAL 10 YEARS IN DOWNTOWN LA

LK ABOUT by

Tiffany Gatto

Natalia Knezevic Photography

www.laloftsrealty.com

It’s hard to believe that over 10 years have passed since I moved my family from the calm suburbs of the San Fernando Valley to the hustle and bustle of the Historic Core. Being a New York City transplant, the noise, the close proximity of my neighbors, the mess, and the lack of coordinated services were not completely foreign to me but rather an adventure of sorts. Spring Street—now a vibrant center of music, food, art and fantastically diverse cultures—was still quite deserted and, yes, a bit scary at night. But with hard work and the dedication of a myriad of residents, business owners, artists, stakeholders, and increasing community services, over the last 10 years this great city center has been “re-growing” by leaps and bounds.

Originally, Spring Street was the “Wall Street of the West,” the center of the working capital of Los Angeles and the surrounding farmlands and located next to downtown’s Main Street that offered food, drinks and lodging, while being flanked on the other side by the large, intricate theatre district of Broadway. The area was bustling and moving forward with the times as electricity became the norm and horse-drawn carriages were replaced with a fantastic streetcar system navigating past the tallest building west of the Mississippi on the corner of 4th and Spring Streets (The Continental Building).

As decades flew by, it was out with the old and in with the new. The era of the skyscraper was born. Bunker Hill’s crumbling Victorians were razed and most business owners wanting to be relevant moved “up the hill.” Businesses deserted the city center (now known as the Historic Core) to move into the flashy, modern new towers being built on Bunker Hill. For the city, it was deemed as necessary growth, and left behind were the old towers (cheaper to leave standing, thank goodness, than tear down) that became “reused” by squatters, homeless people and starving artists.

These ghost towers combined with the lack of a residential voting community unfortunately created a vast no-man’s land where the city’s most unfortunate began to gather and call home. The old Downtown became known as a “cultural wasteland” and for decades has been the dark center of the greater city of Los Angeles.

However, times have changed! Now, amid the glittering towers and older Art Deco facades, a youthful-spirited pioneering resurgence has taken hold. A new generation of adventurous chefs, bartenders, loft dwellers, artists, and developers are creating a neighborhood as electrifying and cutting edge as the New York I remember. The culturally most attractive area of Los Angeles is now downtown—a complete reversal of what suburb-living California (and the greater urban U.S.) had

Photo Courtesy of Korean Air

WILSHIRE GRAND PROJECT

transformed into for years. The median age of downtown L.A. residents is 34, with a median annual income of $98,700 per household, according to a survey issued in 2013 by the Downtown Center Business Improvement District. That is nearly double the national figure. The residential population continues to soar, nearly tripling over the past 10 years to over 58,000 current residents. Now deemed “America’s Next Great City,” DTLA has made its place among the other revitalized city centers and may surpass most, due to its location, weather and general availability of space.

“We realize the revitalization of downtown Los Angeles hasn’t happened overnight, although its momentum continues to pick up,” says Carol E. Schatz, President and CEO of the Downtown Center Business Improvement District. In 1999, in a bid to create more housing downtown, the city approved the Adaptive Reuse Ordinance that encouraged developers to convert obsolete and older structures into housing by expediting the approval process, and relaxing the zoning and code requirements.

As a result, in the past several years the area has seen more than 500 new restaurants, bars, nightclubs and retail shops spring up.

Schatz reports: “Probably the most significant catalyst in the renaissance of downtown Los Angeles was the passage of the adaptive reuse ordinance, which made it easier for developers to convert old office buildings to housing.

The opening of Staples Center also encouraged people to explore living in Downtown. What’s exciting today is that in addition to the incredible growth of residential options in downtown, there has been a maturation in the market which has resulted in an influx of shopping, dining and entertainment options, truly making downtown a 24/7 city. Downtown has also become widely acclaimed for its growing food, retail and nightlife scene on a national front, including being featured in Bon Appétit Magazine’s “Best New Restaurants in America 2014” and was named “America’s Next Great City” by GQ Magazine. There continues to be extraordinary possibilities for growth in this rich urban environment, and we’re looking forward to making some exciting new announcements in the near term.”

Today, developers are struggling to keep up with the influx of new residents. Although more than 5,000 apartments are under construction downtown, with another 13,000 proposed, new condo inventory is at record lows, with fewer condos available and prices rising. Some Asian developers are eager to capitalize on L.A.’s position on the Pacific Rim. In February, Shanghai-based Greenland Group broke ground on a $1-billion development named Metropolis, a mixed-use megaproject on more than six

acres near LA Live that will include a 350-room luxury hotel as well as a 38-story residential tower with about 300 units. Late last year, Beijing’s Oceanwide Real Estate Group bought Fig Central, a 4.6-acre site near the Staples Center currently being used mostly as parking lots. And South Korean conglomerate Hanjin International—which owns Korean Air—is spending more than $1 billion to build a 73-story tower called Wilshire Grand, set to become the West Coast’s tallest tower when it opens in 2017.

Although on the rise, residential and office rents are still reasonable and entice former outsiders into downtown for housing and commerce. An average rental price for a loft is $2.75 a square foot and can offer all the amenities of suburbia, like pools and gyms, indoor basketball courts and treelined common spaces. Office rents are available in many “Class A” buildings for around $3.50 a square foot.

Of course we still have important city issues that need to be tackled. Downtown’s 50-block “Skid Row” neighborhood has the highest concentration of homeless people in the country. Rather than ignore the problems of our homeless population, downtown residents are working hard to address the problem with viable solutions such as improving services and offering classes or holding “mock interviews” for those trying to get back into the workforce, and donating food, clothing and sanitary items to those in need. There are several organizations in place that you can join, too, by simply making a quick phone call. I believe that it is paramount that residents of DTLA help to solve the issues of our city. Please get involved!

I am proud to say that our company, LA LOFTS | Realty ®, celebrates 10 years in Downtown L.A. this year! We seek to continue to bring you the most up-to-date information and “inside” news about details of the market that will assist in helping you find your perfect downtown loft-style. I am so excited to see what tomorrow holds, and to be a part of helping this exciting “new” city to grow and shine over the next 10 years and beyond!

For more information or a private tour, feel free to call 213.626.5433 or drop me a line.

Tiffany Gatto tiffany@dwellhomes.com www.dwellhomes.com

Zane Levitt Photography

EASTERN COLUMBIA LOFTS #1009 1 BEDROOM | 1 BATH | 1,190 SQFT. Offered at $899,000 by appointments only | www.laloftsrealty.com

WHAT’S UP D

Photo Alex LiMandri

DOWNTOWN? by

Alex LiMandri

“What’s Up, Downtown?” with Hal Bastian (2015) is a brand-new broadcast series about the rebirth of Downtown Los Angeles. Hal’s aim is to tell the positive stories of today’s Downtown in an ongoing series seen regularly throughout the year.

The series will visit a wide range of subjects from exploring small shops to large-scale developments, cultural festivals, nightclubs, and special events. From Chinatown to the Old Bank District to LA LIVE, the possibilities are endless!

“What’s Up, Downtown?” is produced by Ryan Morris, who for eight years worked alongside Huell Howser, host of PBS’s “California’s Gold.” The segments are hosted by Hal Bastian, a familiar face in Downtown who has been a leader in the Downtown Los Angeles Renaissance for over 20 years.

Bastian explains, “For many in Los Angeles and beyond, Downtown is still a distant and unknown place. Our mission is, quite simply, to be the first in telling the expansive stories of Downtown’s many different neighborhoods.”

Hal Bastian, President & CEO of Hal Bastian Inc., is a 33-year-long commercial real estate expert who has spent the last 20 years helping to create the Downtown Los Angeles (DTLA) Renaissance.

On October 1, 2014, Hal founded his own consulting practice dedicated to building an even better DTLA, and is also focused on helping other downtown communities to use the best practices in their city centers that he has developed for DTLA. As a consultant, Hal expertly provides many services including: introductions, referrals to vendors and professionals; networking opportunities and strategic partnerships; underwriting and development advice; VIP, large-group, market-overview and underwriting tours; and venue recommendations for special events.

units, including both traditional and loft-style apartments and condominiums; creating and leading tours and producing special events that helped recruit over 35,000 new residents; recruiting over 300 new businesses, including Ralphs Fresh Fare, Bottega Louie, Whole Foods and Urban Outfitters; producing three special events in New York City targeting the investment bank community to encourage investment in DTLA developments, including both residential and commercial projects; serving on the Downtown Neighborhood Council; and advocating for the community.

Hal began his career as an office space and retail broker at Julien J. Studley, Inc., entered the DTLA marketplace as a retail broker for Cushman & Wakefield and just prior to being recruited to the DCBID, Hal served as the leasing director of The Old Bank District, the first adaptive reuse project in DTLA that converted historic office buildings into loft-style apartments.

In his role at the Old Bank District, Hal created a “dog friendly” community with the help of his Golden Retriever, “Buddy,” ultimately resulting in the thousands of fourlegged friends who can now be seen with their humans walking the vital and alive streets of DTLA’s many neighborhoods.

It’s “a natural” for Hal to host a program like this! DTLA LIFE is proud to call Hal a friend and an amazing partner.

In the first episode of “What’s Up, Downtown?” Hal introduces us to the wonderful team behind the Wilshire Grand Center which, at 73 stories, will be the tallest skyscraper between Chicago and Taipei when it opens in 2017. Then, owner Adele Yellin gives us a tour of the Grand Central Market, a downtown landmark since 1917 which is undergoing its very own rebirth. Finally, we see how The Ratkovich Company has been transforming Macy’s Plaza, once dubbed the “fortress on 7th street,” into a spectacular open-air shopping center and office space renamed The Bloc.

From December of 2001 to September of 2014, Hal served as the Director of Economic Development for the Downtown Center Business Improvement District (DCBID) and rose to become its Executive Vice President.

In his role at the DCBID, Hal directly recruited and/ or facilitated the recruitment of office users, retailers, restaurants, bars, nightclubs, amenities, developers, investors, equity and residents to DTLA by building confidence in the marketplace, and is referred to by many as “Mr. Downtown” and/or the “Mayor of Downtown.” He knows over 10,000 people in DTLA!

Check out the first episode of “What’s up Downtown? with Hal Bastian at www.halbastian.com or at www. laloftsrealty.com

His accomplishments at the DCBID were many, including: helping to facilitate the building of over 22,000 housing

WHAT’S UP DOWNTOWN? With HAL BASTIAN WWW.HALBASTIAN.COM

GET URBA

Photo Alex LiMandri

AN by

Alex LiMandri

The Downtown Center Business Improvement District [DCBID] held their fourth “GET URBAN” tour on June 25th continuing their efforts to recruit tech and creative companies to Downtown Los Angeles.

Carol Schatz, President and CEO of the DCBID and other members guided attendees through Vixlet [social networking app innovation company] at the Gas Company Tower, Steinberg Architects [Sculpt Space and Shape Life is their mission] at PacMutual and Oblong Industries [a technology company], and concluded the event with a showcase reception at The Reef [Innovative facilities for all types of creators] on Broadway, giving guests the opportunity to experience the numerous collaborative work spaces within downtown’s amenity-rich urban culture.

Although the primary objective of GET URBAN is to attract tech and other creative industries to Downtown Los Angeles, guests of each tour thus far have had backgrounds in multiple fields.

Attendees included media, brokers from all areas of Los Angeles, as well as tenants in the tech, creative and professional services industries.

“What has made GET URBAN such a success is that the program allows attendees to experience first hand the cutting-edge workspaces offered in downtown,” notes Schatz. “The spaces shown on the tours are designed to attract and retain creative talent, while maximizing productivity and innovation.”

In past tours, members of the DCBID have taken guests through The Bloc, IndieDesk, DesignHive by Brookfield, Liner Law, IBI Group, Broadway Arts Tower, Arquitectonica, NationBuilder, Rhubarb Studios, OUE and One California Plaza, with concluding showcase receptions at CBRE Headquarters and LBA’s Steelcase Worklife LA. Tours will continue on a monthly basis, occurring on the fourth Thursday of each month. Scheduled from 2:00 p.m.-5:00 p.m., the tours are complimentary but reservations are required. Go to downtownla.com/GetUrban to reserve a space.

For more information, visit www.downtownla.com.

The BCBID provides a Downtown Quartely Market Report that you can revew at the end of this issue.

ABOUT THE DOWNTOWN CENTER BUSINESS IMPROVEMENT DISTRICT (DCBID):The Downtown Center Business Improvement District (DCBID) has been the catalyst in Downtown Los Angeles’ transformation into a vibrant 24/7 neighborhood. A coalition of approximately 1,700 property owners in the central business district, the DCBID members are united in their commitment to enhance the quality of life in Downtown Los Angeles. Bounded by the Harbor Freeway to the west, First Street to the north, Main and Hill streets to the east, and Olympic Boulevard to the south, the organization helps the 65-block central business district achieve its full potential as a great place to live, work, and play. For more than 15 years, the DCBID’s programs and initiatives have been the driving force behind the Downtown Los Angeles Renaissance. Now universally recognized as one of the nation’s most dynamic urban centers, downtown Los Angeles was recently heralded as “The Next Great American City” by GQ Magazine and listed as Number 5 in The New York Times’ “52 Places to Go in 2014.”

DOG DAY AF

Photo Courtesy of DCBID

FTERNOON

Downtown LA residents and their dogs were invited to the 9th Annual Dog Day Afternoon at the Cathedral of Our Lady of the Angels on Wednesday, July 8th in Downtown LA. This community-building event for Downtown residents and their dogs was a great way to meet and mingle with downtown neighbors, listen to music, and enjoy the iconic setting of the plaza of the Cathedral while we celebrated our four-legged friends! Each year the crowd is getting bigger and dogs of all faiths are enjoying having fun and spending time together.

For more information, visit www.downtownla.com.

Photo Courtesy of DCBID

What a decade it has been! In 2005, if you told someone you were going shopping downtown they would assume you were hitting sample sales or getting a ton of crew socks at Santee Alley, now there are more than 50 independent boutiques as well as many national and international brands’ west coast flagship stores contained in a 12 block radius. While there were some very fine restaurants in DTLA a decade ago, most closed their doors at 10 pm. Now some places don’t really get started until 9pm! And where people might think you an urban pioneer for actually living downtown back then, now they can’t build apartments and condos fast enough. Out of town friends are dying to see what’s happening in DTLA and corporations and startups alike are considering DTLA in their plans. It’s impressive to look over our collective shoulders and see how far we have come - but I am much more interested in all the amazing things coming our way in the next few years. Why, we are just getting warmed up!

Photo Cinnia Finfer

NEW KIDS ON THE

BLOCK by

Cinnia Finfer

Grand Avenue just got a grander. With the opening of Vespaio, Ago Sciandri’s newest Tuscan restaurant, DTLA has a wonderful new option for pre or post theater/exhibition cocktails or dining. Located in The Emerson building, Vespaio is a short walk from MOCA, the Colburn School and Disney Hall and a stroll to the Los Angeles Music Center.

Come September, when Vespaio’s next door neighbor, the Broad Museum opens, this day into night dining destination will be in the center of all the action. Whether you want to start your day with a cappuccino and a pastry, or finish the evening with a nightcap, Vespaio has what you want. Ralph Gentile Architects created a space that is both contemporary and timeless with mid century Italian vibe-much like a restaurant you would discover on the Amalfi coast. With a café, bar, indoor and outdoor lounge and dining spaces as well as a private dining room, Vespaio gives you many reasons to return.

VESPAIO 225 SOUTH GRAND AVENUE LOS ANGELES 90012 (213) 221 7244 WWW.VESPAIODTLA.COM

Photo Cinnia Finfer

Photo Cinnia Finfer

Anyone familiar with DTLA holds a special place in their hearts for The Last Bookstore. Well, one of the best just got even better with the opening of the Art and Rare Book Annex. Situated in the space previously occupied by the CB1 Gallery (the western next door neighbor on the 5th street side) the Annex is accessible from both the street as well as through the main room of The Last Bookstore. This soaring white space features an intriguing array of paintings consuming the back wall. The Annex is everything you would want of art book space: abundant natural light and a captivating selection of new and used books attractively arranged. The real challenge is having enough time to take it all in. Guess you will just have to come back.

THE ARTS AND RARE BOOK ANNEX 453 SOUTH SPRING STREET (ENTRANCE ON 5TH) LOS ANGELES, CA 90013 (213) 628 3499 WWW.LASTBOOKSTORE.COM

The delightful wife and wife duo of Carey and Tara Hotchkis have launched a floral design studio/contemporary art gallery that also carries European treasures discovered during recent travels. Carey is the floral designer of the team who possesses that astounding skill of being able take simple blossoms and transform them jaw dropping arrangements. While she will happily create custom bouquets and sprays to a customer’s specifications, Carey specializes in California blooms. Big special event? No worries. Need a DTLA delivery, stat? Got it. Tara is our painter. The daughter of Laguna Beach artist Manfred H. Kunhert, Tara shares her father’s sense of color, but has her own sense of line and composition – and subject matter. Her rendering of Disney Hall is a stand out. But it’s not all about her. The gallery also spotlights other local artists, giving a welcome new showcase for DTLA’s emerging visual voices

BE A TALL POPPY 767 SOUTH SANTEE STREET LOS ANGELES 90014 (310) 993 8191 WWW.BEATALLPOPPY.COM

Photo Cinnia Finfer

What strikes you when you visit Auntie Em’s is that is feels as though it’s always been here. You step into a room filled with home-baked aromas, people are settled in with cups of coffee, plates of food in various stages of completion with laptops parked to the side and newspapers or documents being shuttled across the table. In just a matter of weeks, Miss Em, the self-proclaimed “little sister” of the original Eagle Rock location, has quickly taken her place as a cozy breakfast and lunch spot. The draw?

Rustic homestyle cooking from the heart. Gotta love a place where Short Rib Melt and Vegan Avocado Toast can co-exist on the menu. To say nothing of a bakery capable of creating everything from vegan wheat rolls to cranberry pecan bread as well as cupcakes.

AUNTIE EM’S KITCHENETTE 116 WEST 5TH STREET LOS ANGELES 90013 (213) 285 7400 WWW.AUNTIEEMSKITCHEN.COM/DTLA

Photo Cinnia Finfer

Photo Cinnia Finfer

It is the dawning of a new age… politically correct (and painfully delicious) comfort food, fried in extra virgin olive oil and served with your choice of traditional or exotically flavored maple syrups. Mabel’s is a welcomed homey addition to the South Park dining scene -- a simple, focused menu that delivers. What’s more, you can dive into a plate of chicken and waffles with peace of mind that these birds came from Mary’s Farm where they lived an organic, free ranged lifestyle sans GMOs, antibiotics and hormones. Order by the piece or combo, only you know how much you want. Naturally, they are paired with locally sourced California vegetables and greens. But by all means, finish it off with a slice of their daily cheesecake.

MABELS CHICKEN AND WAFFLES 314 WEST OLYMPIC BOULEVARD LOS ANGELES, CA 90015 (213) 536 5557 WWW.MABELSLA.COM

Hardcore Deandri fans are rejoicing.

Their favorite and rather successful online fashion resource for 3 years is now a real, live store. Deanna, a local DTLA designer and her operations and store manager Chantelle decided it was time to jump into a DTLA shopping scene.

The look is an edgy reinterpretation of classic bodies. Imagine if Wednesday Adams was old enough to work in a new media office and go clubbing. Juliet and capulet tops are important bodies as are short pleated skirts in a variety of fabrications. The collar is the thing with Deandri dresses, which give a prim yet sexy vibe, yours for about $75. Plaids and leather get worked into the mix. Rather than produce formal collections, a new product is introduced two times a month, so the faithful always have something to add to their look.

DEANDRI 119 WEST 6TH STREET #113 LOS ANGELES, CA 90013 WWW.DEANDRI.COM

Photo Cinni Finfer

WALLPAPER

IS BACK

DESIGN by

Karen Stahl Pease

Photo Julianne Pease

Yes, wallpaper is back! If the thought of it conjures up memories of hot steam plates, water dripping everywhere and hours of work trying to remove it, think again. The new papers are beautiful, on trend, and easy to apply and remove. The key is following the manufacturer’s instructions.

There is an array of textures and designs with symmetry that are exciting and contemporary. We’ve even found a company that will help you design your own.

These new wall coverings can be made of paper, metal, or natural items such as bamboo, jute sisal or a multitude of other things. Of course, there will always be paint, except now you may use it more as a complement to your special wall covering.

To get the latest on wall coverings we turned to CM in the City designers Cathi and Mary Alice. With over 50 years of collective experience, we knew they would provide us with the best advice on purchasing and applying wall coverings.

First and foremost, their advice is to hire a professional paperhanger. This professional will be able to properly prep your walls and save you a myriad of problems so we highly recommend it.

A good paperhanger will advise you as to the correct method of preparing the surface for the paper or other material you have chosen. If you have problem walls, there is a product called Blank Stock that can be applied to the wall, providing a smooth, even surface.

Be sure that your paperhanger has worked with the product you have chosen and you get proper handling and installation instructions for him.

Next, be sure to have your professional measure your walls. He will know how to allow for doorways, windows, etc. and will be able to accurately calculate the total amount of wall covering you will need. You will also need to allow extra for the repeat when using a large pattern, so keep that in mind when figuring your budget and picking your pattern.

Talk to your paperhanger about ordering, as wallpaper manufacturers have different widths and lengths and some papers are sold in single rolls, others are sold in double rolls.

Cathi and Mary Alice took us to three of their favorite wallpaper stores to see a selection of what is available to transform your walls with a fabulous new look.

Our first stop was Walnut Wallpapers on Beverly Boulevard, a few blocks west of LaBrea. Walnut offers

Photo Julianne Pease

Photo Julianne Pease

papers from over forty manufacturers and many more designers. They also have several companies offering matching fabrics. Mary Alice pointed out the array of contemporary and metallic papers and those that

the sound reduction also. Mary Alice added that applying fabric to a wall is easy to do these days, if you prep correctly (there’s that word ‘prep’ again, it must be pretty important).

have the look of natural materials. These are all very popular today she added, but there are also vintage papers, which are perfect for a historical look and are much more subtle than the prints of days past. Many of the retro-papers are reminiscent of Andy Warhol and the ‘60s, a very popular theme today.

So, as you plan your next decor update, consider the exciting new world of wall coverings to give your room more pizzazz and polish. The big takeaways to remember are the importance of preparing the walls to ensure easy application and removal and ordering the right amount to accommodate pattern repeats and cutouts. Lastly, and probably the most important to consider is hiring a professional paperhanger to help you get the perfect look.

Keeping all this in mind, go ahead and create a treasure for your home that will last for years to come and bring you much joy.

Next we ventured to Astek, Inc. in Van Nuys. Unlike Walnut, Astek is not a store but a design company, so you will need to schedule an appointment. Be prepared to be amazed, warned Cathi, adding to be sure and check out their blog and see how they apply many of their designs. Astek designers will help you and your designer customize your wallcovering. Patina, a collection created of weathered and aged metals, produces clean contemporary lines and adds bold textures and colors to a space. Gronk, an internationally known designer, has moved to Los Angeles and has designs available at Astek. Surface is a study in textural urban design that would complement many DTLA lofts, with patterns named after LA streets and landmarks. Mary Alice noted that the titles of their collections give you a hint of what lies beneath, such as: Patina, Submerged, Layered Earth, and Indulgence, to name a few.

Our last stop is in Laguna Niguel at the Phillip Jeffries, Ltd. display in the Laguna Design Center. Located inside the Harsey & Harsey showroom we met up with Jorge, the showroom manager. Cathi explained a lot about the products we’d see, but we were still amazed by the large and beautiful array of grass cloths, metallic papers and other beautiful natural and truly luxurious paper products available. Jorge showed us the fine finishes on the papers and how smooth and well finished the edges are on the grass cloths and other natural fiber papers. These are definitely not your grass cloths of old. The Phillip Jeffries display is located in all of the Harsey & Harsey locations, Stonemill in Costa Mesa, Canyon Creek in San Diego as well as the Laguna Design Center. Be sure to bring your decorator if you visit the showroom, as it is “open to the Trade only.”

On the trip back to LA, Mary Alice brought up the subject of fabric and using it as a wall covering. She added that they have used fabric with great success for a number of clients. Fabric also can have the added bonus of providing a sound buffer, which makes it ideal for a kid’s room or your bedroom. Of course how much sound is reduced depends on the fabric and if any additional layers are used. Prepping with Blank Stock will add to

CM DESIGNS Cathi Marcoly (323) 942 9920 Mary Alice Slattery (323) 942 9921 www.cm-designs.com

3

4 BEDS | 3 BATHS | 3,009 SqFt CalBRE # 01822666 |Listing Courtesy of BIG BLOCK REALTY If you are already represented by a licensed agent, this is not a solicitation to represent you.

3830 ROYAL MEADOW DRIVE SHERMAN OAKS

$1,995,000

ART by

Petra Wright

Michael Moon

Tanya Ragir

The 5 years since our arrival in DTLA have been quite a ride for GDCA… from having been invited to act as consultant to one of the most reputable law-firms in Downtown, to being chosen by CBS as one of the Top 10 Contemporary Art galleries in Los Angeles, culminating in our move into a brand new 2300 square foot space – we are still pinching ourselves!

They all promise to make this yet another fantastic year.

Thank you, DTLA, for your continued support and community, and for being part of our extended art family.

For more information, please call (323) 309-2875 or go to www.GDCAgallery.com

Of course, none of this would be possible, or mean anything, without our incredible talent pool. Our artists have been and always will be the lifeline of our gallery…and we couldn’t be more proud of the work we have been able to present in downtown.

Our new home at 727 South Spring Street has been a real game changer. This booming and increasingly upscale section of DTLA, with its new designer boutiques, restaurants, bars and coffee houses popping up every day, is happily keeping us on our toes…

It demands of us that we find the most avant-garde, innovative new voices in art, while ensuring that we maintain the kind of quality, classic beauty and experience that many of our more established and well-known artists are known for.

727 is a magnificent, grand space, which has incredible ambience due to its history, not to mention its dramatic 20’ high ceilings. It features 2 galleries: gallery A & gallery B. Gallery A features primarily group shows, while gallery B also serves as a solo-exhibit venue.

Points in case are two upcoming solo exhibits, both featuring sculpture. Found metal sculptor Robert Toll brings summer to a crescendo this August with his multi-disciplinary exhibit “Anticipation of Chaos”.

September boasts an impressive duo: figurative sculptor Tanya Ragir will be revealing publicly, for the first time in its entirety, her ‘Warrior Series’ collection… in conjunction with the ‘magical realism’ painter Mark Brosmer. Brosmer’s skill and imagination have no parallel… many will remember the over-sized red apple that graced the inaugural months in our original space. Following close on their heels is a solo-show by artist Bill Sherwood, who will blow the minds of mixed media artists and lovers alike, with his completely unique, never before seen techniques of reverse painting on glass! Y ou will have to see it to believe it…in November 2015.

That plus many more exciting discoveries await, along with our staple art-stars, such as Michael Moon and Dina Herrmann to name a few….

GLORIA DELSON CONTEMPORARY ARTS 727 South Spring Street (between 7th & 8th) Los Angeles, CA 90014 (323) 309 2875 www.GDCAgallery.com

THE WORLD IS

S A SAFE PLACE by

Jim White

As we reflect on the last ten years at LA LOFTS | Realty ®, it is important to remember that prior to that time few people in Los Angeles were speaking about homeless issues in our city. LA LOFTS | Realty ® has been a supporter of and advocate for the many service providers who are attempting to end homelessness once and for all. One such group that I have written about previously is called HOME FOR GOOD, which is: • an action plan to end chronic and veteran homelessness by 2016 • a cross-sector collaboration, led by United Way of Greater Los Angeles and the LA Area Chamber of Commerce • data-driven and fueled by community vision, collaboration and innovation www.homeforgoodla.org Let’s take a look at some of the past key accomplishments of HFG: 2007

United Way 10-Year Plan, Creation of Action Areas, Competitive RFP process, 1st Home Walk http://unitedwayla.org/homewalk/

2008

Funded Rapid Rehousing and Permanent Supportive Housing

2009

Cost Study Released, Business Leaders Task Force Begins

2010

One-on-One Meetings with Stakeholders, Announced Plan, Press Conference Held, Funding Formula Campaign

2011

Funders Collaborative Starts, Coordinated Entry System (CES) Research Begins, Standards of Excellence Starts

Housed: 3,137

2012

1st RFP Released through Funders Collaborative for $105M, CCFO Campaign

Housed: 4,470

2013

2nd Funders Collaborative RFP, CES Pilot launched in Skid Row, Companionship Program Pilot, 7th Annual Home Walk raises $1M

Housed: 4,493

2014

CES Scale-Up to 7 Other Communities (covering all SPAs in LA County), 3rd Funders Collaborative RFP Released, CES Certification piloted, 8th Annual Home Walk (raises $1.2M)

Housed: 7,093

2015

Surge to end Veteran Homelessness, Homes For Heroes Launches (to educate and encourage landlords to take Veterans with housing vouchers), 4th Funders Collaborative RFP Released

Housed to Date: 1,690

In order to end homelessness, we all must get involved. Please consider volunteering your time or donating money.

Together we can bring everyone off the street and Home for Good! www.giveunitedla.org/PaperForm.aspx?HFG=OLPLGHFG What Your Gift Can Do $50 gives back someone their identity so they can access housing $100 welcomes a person home with a bag of supplies $500 provides a security deposit for a safe place to stay $1000 helps one person come Home For Good Where Your Money Goes: United Way of Greater Los Angeles goes beyond just supporting local charities. From its extensive research on the most pressing issues facing the Greater LA Area, United Way leads broad-based efforts involving citizens, and the private and public sectors.

Thank you for your support in ending homelessness! Learn more about how Home For Good works to end chronic and veteran homelessness by visiting www.homeforgoodla.org Jim White www.theworldisasafeplace.com

Progress to Date

The Milestones

iThe Milestones

Business Leaders Task Force Established, 2009

2011 Home For Good launched, Dec. 2010

2012

201

Launched Funders Collaborative with public and private leadership and collaboration

Policy team begins crafting implementation plan of the Coordinated Entry System (CES)

Standards of Excellence workgroups begin

Funders Collaborative leverages over $105M in public and private resources for Permanent Supportive Housing (PSH) Released first RFP and provided grant funds to 30 organizations for PSH

13

2014

100-day Coordinated Entry System pilot begins in downtown LA housing some of Skid Row’s of most vulnerable homeless adults CES expands to 20 additional communities in over 7 regions Released second RFP, which included over $114M in public and private resources for PSH

2015

Establish Home For Good Leadership Team

Initial launch of the Homeless Analysis Collaborative (HAC) Development of gap analysis tools, as well as system-level and regional housing goals CES in all 8 regions of LA County

HomeWalk raises over $1 Million with over 12,000 participants

Release third RFP, to include funds for Coordinated Entry System and PSH, $213M

End Veteran Homelessness

2016

End All Homelessness

End Chronic Homelessness

FASHION FAMILY CARD by

Margalette Audoin

BAHIA GOLD:

THE GOLD VOICE ACTRESS

Photo Deva Schaufuss

Comedians, always ready to personify in less than 1mn your favorite beauty secrets or prestigious fragrance .

French- Algerian actress Bahia Gold was discovered on TV Land show “ She’s Got the Look”.

Bahia Successful Modeling Career has her featured in many adds and was one a the faces of Elizabeth Arden.

Bahia is starring in a Feature film “ Full of Grace” in which she plays The Blessed Virgin Mary Due for a December 2015 release, She is Trained at the Imagined Life Studio in Los Angeles. and is currently a member of the cast of “Carry the World” written and directed by Diana Castle.

She is featured in many national commercials such as AARP, TJ MAXX, Diet Coke, United Airlines, Chico’s, Applebee’s and Priceline. With her deep voice she says “ Leave in empathy, and your Wrinkles will go away”.

Bahia Gold describes Downtown LA in 3 words; Restart, Create and Life! She remembers her first time in DTLA, it was the symphony Hall where she saw Philippe Glass, she thought it was absolutely Breath taking!!!

When I asked her why she loves Downtown LA, without an hesitation she tells me that leaving on the 11th floor of her building she has peace, it’s quiet and have a lot’s of light, and at the same time downstairs there is life, always people, and everything is walking distance the real city life knowing that the beach is 30 min away.

Every freeway is around the corner. Her favorite time is when it turns 5pm and she is waiting for the sunset on her rooftop by the pool, with a glass of wine feeling on top of the world.

There is so many streets that she loves getting lost in, especially in the fabric district. Her Hidden pleasure is going to the flower market at 6AM with a coffee in her hands taken by the smell of fresh flowers and feeling the energy of beauty.

For her, if DTLA was a movie it would be “Starting Over”; she will call her book “My Lofts, My Life” and the smell of Bahia’s fragrance “Express” with a “Deep Techno” sound reminds her of the sensations that Downtown LA provides.

She heard the rumors that luxury fashion brand Gucci and the Apple Store are coming on Broadway, yes that was the last breaking news that she wanted to share.

But her favorite places are R23, the hidden japanese restaurant on 3rd Street in the Art’s District; The Oasis on Traction and The Wine Bar in the Toy Factory. But she is looking for a good private salsa dance teacher! So if you know of one contact us.

Photo Deva Schaufuss

StĂŠphanie Margalette Audoin FASHION EDITOR for DTLALIFE Magazine LA showroom 1259 South Camden Drive Los Angeles, CA 90035 CA USA PARIS showroom > Mamz elle Margalette 64 rue Tiquetonne 75002 Paris (310) 936 5801 FaceBook: margalette audoin Twiter: @margaletteprod Instagram MARGALETTE skype: margalette.audoin www.margalette.com

Photo Deva Schaufuss

WE’VE GOT YOUR

NUMBER:

THE ANCIENT PRACTICE OF

NUMEROLOGY by

Lori Tierney

This month’s edition of DTLA Life Magazine is all about the numbers! We are marking the historic 10-year anniversary of the publication, so it seemed fitting to focus on the ancient practice of Numerology. If you think about, life revolves around numbers: your weight on the scale, medical numbers for how healthy you are from BMI to cholesterol, your fitbit tells you the numbers, you wake up to a number on a clock, your rent payment on the first of the month, dollars you earn, dollars you spend, years you mark every birthday watching as those numbers go higher and higher and you wonder where the time went, to keeping score on just about everything in life. Even grades in school have gone from letters to numbers!

Getting into college is about the numbers on the SAT and that, oh so elusive, 4.0 plus that can get you in or out of your targeted university.

Football scores, baseball, basketball, the Olympics, Dancing with the Stars, your credit score and on and on. Every day we measure ourselves with a number. We decide if it’s a good number or a “bad one”, like negative numbers in our checkbook are “bad” and positive bank balances are “good”. Our Doctor tells us we dropped two pounds on the scale and immediately it’s a “good day”; conversely, if the scale isn’t our friend that day because of the numbers, it’s a “bad” day. We give out our phone number on a piece of paper to that cute guy at the bar, hoping he will call and our emotions rise and fall depending upon the outcome. We coin phrases like “I’ve got your number” and “When my number is up…”, “catch 22”, “behind the eight ball”, on “cloud nine”, “Fifteen minutes of fame”, “seven year itch”, “ménage a trois” and many others.

It seems we measure everything in life by the numbers. Let’s take a look at why!

Numerology dates back thousands of years with some variations to be found in most cultures throughout history. The science of the numbers has been taught by some of the most respected mathematicians in history, even though many have dismissed it as a “pseudoscience”.

Many ancient cultures including China, Japan, India, Babylon and Egypt were familiar with numerology long before the Greeks and Romans adopted the practice.

Pythagoras, a Greek mathematician and philosopher circa 569-470 B. C. and generally the one considered the originator of the still popular Pythag-

orean system, believed that all reality is mathematical. He viewed the vast universe as being comprised of various mathematical patterns and was a vehement proponent that all things can be expressed in numbers, that all corresponded to energy patterns of vibrations, each with specific meaning.

The vast teachings of Pythagoras were adopted by the scholars Socrates and Plato, and studied by early Christian scholars, including St. Augustine. This ultimately led to its expansion during the Renaissance, and numerology continues to be studied and practiced today.

Numerology can be simply defined as the historic study of the relationship between names, birthdates, and numbers. In fact, the word numerology is derived from the Latin word “numerous” meaning number, and the Greek word “logos”, meaning thought and word. The Greeks today might be well served in revisiting this ancient practice. Perhaps it might aid them in shedding light on their present financial situation and help them find a way out!

In Numerology, unlike Astrology and Tarot, a person’s birth name, as well as their birthdate, have significant influence on their life path and personality. Calculating these significant indicators is a simple and straightforward process.

To calculate the Life Path number, which is based upon an individual’s birth-date, you would use basic math to add up the numbers in the date and then reduce it down. For example: January 23, 1973 looks like this: Jan = 1 + 25 = 2 + 5= 7 + 1 + 9 +7 +3 + 2 + 0 + 2 , 1 + 7 + 2 + 10, reduced 1 + 0 = 1 . The person with this birth-date has a Numerology # of 1. Number 1’s have a mind of their own, demand complete freedom and have powerful drive and determination. They don’t let anyone or anything get in their way once they make up their mind and set their sights on a goal.

They are great providers for their loved ones while demanding great respect and attention.

Our great magazine is celebrating 10 years, which in numerology is the vibration of a One! Happy Anniversary to the publisher, Alex LiMandri, and all the wonderful contributors of this great publication. Indeed it is #1 in Downtown LA news and lifestyle views!

Resources and for personal Numerology reports: http://www.tokenrock.com/numerology/

Lori Tierney @cougaryoga www.loritierney.net www.redroadretreats.com

Photos Alex LiMandri

ESCAPE TO CHICAGO by

Alex LiMandri

It has been 10 years that I moved to Los Angeles, what I love the most is that this city offers plenty of opportunity to escape. When someone need a change of scenery from the urban vibrant DTLA, the ocean, the desert and the mountains are just a few miles away. LAX is also one of the biggest us airport which allow us to discover places for a long weekend just a few hours away.

I always wanted to go to Chicago and Independence day holiday weekend was the perfect occasion to jump on a plane and go. Since American Airlines merged with US-Airways I thought that it was time to try the new American, very patriotic for me newly citizen of this amazing country where we live. A quick look at aa.com and surprised to find a first class ticket last minute for a very good price, the decision was made - The windy city here I come!

Another surprise was the discovery of the newly open Virgin Hotels right on Michigan Boulevard. Yes, Virgin finally is taking another step and re-defining the hospitality industry with a great concept that of chambers instead of rooms, it was almost like a cosy one bedroom apartment well designed and easy to live in.

Considering every desire and comfort of the modern traveller, it’s thoughtful, creative and affordable. Ideal for working, recharging, and playing. Everything you would normally expect in a suite is here, plus a few surprises.

A great mobile app that replace the concierge and you can order an extra pillow or ring for services from your mobile. Order room service, control the climate, make dinner reservations, valet your car, even live chat with your concierge and other guests. This seamless integration will tap your happy buttons.

And wait, there’s more: the Virgin Hotels are HEAVY PETTING ENCOURAGED, if you can’t bear to leave Fuzzy home alone? they have dog-friendly chambers equipped with dog beds as comfortable as the human ones. So, your best friend is more than welcome www.virginhotels.com.

Of course when you plan last minute, all the fancy places to watch the fireworks were fully booked so we decided to walk to Millennium Park and enjoy an ideal weather and a lot of sparkles in the busy crowd eyes.

The Fireworks done we discover Chicago’s showplace for cutting-edge art, architecture, landscape design, music and more. As the centerpiece of Chicago’s Millennium Park, the Crown Fountain is rumored to be one of

Photo Courtesy of Virgin Hotels

Photos Alex LiMandri

Photos Alex LiMandri

Photo Courtesy of Virgin Hotels

the most expensive pieces of public art ever undertaken.

The fountain consists of two 50-foot-high glass-block towers facing each other across a shallow 232-foot-long reflecting pool. On three sides, the towers glow from within thanks to color-changing LED lighting fixtures approximately 70 units per tower - supplied by Color Kinetics, while the fourth sides feature Barco LED display screens that face each other across the reflecting pool.

The screens feature the expressive faces of almost 1,000 Chicagoans, changing at short intervals and spouting water from giant mouths. Designed by Spanish sculptor Jaume Plensa, the Fountain is a gift to the city from the Crown and Goodman families of Chicago. Krueck + Sexton Architects and Crystal Fountains helped design and construct the structure. Millennium Park Summer Celebration features Free Art Exhibits, Family Fun, Films, Tours, Workouts, Music and More. A real treat for a beautiful night.

After a good relaxing night of sleep full of visuals from the magical moments of the evening, it was time to feast. I cannot stand watching or listening Donald Trump on TV lately but I have to say, his Trump Tower is an amazing architectural addition of the great skyline of Chicago and home of SIXTEEN, the Michelin two-star rated, Forbes Five Star, and AAA Five Diamond restaurant offering a delicious Brunch on the 16th Floor presenting a truly unparalleled epicurean experience. With Executive Chef Thomas Lents at the helm of our acclaimed team, this Chicago restaurant showcases a thoughtful approach to modern American cuisine, focused on sourcing the highest quality ingredients from around the world. A protegé of Chefs Joël Robuchon, Michael Tusk and Jean Joho, among others, Chef Lents works to present exciting, gastronomical journeys, with a mission of introducing new flavor profiles to every guest. To complete the fine dining experience in Chicago, the restaurant’s 30foot floor-to-ceiling windows afford panoramic views of Lake Michigan, the Chicago River and the Wrigley Clock Tower, complementing the team’s cuisine with an equally awe-inspiring backdrop - www.sixteenchicago.com.

Perfect way to end this unprompted getaway and come back to reality, where are we going next? www.aa.com www.virginhotels.com www.sixteenchicago.com www.cityofchicago.org www.millenniumpark.org Alex LiMandri alex@laloftsrealty.com www.laloftsrealty.com

from ugly duckling to smokin’ hot swan.

Remember that person in high school who, when you saw them at the ten year reunion, had completely changed for the better? They were brighter. More worldly.

More open minded and evolved. More sleek and much, much cooler. Imagine a building doing that and you start getting a picture of what’s happening at The Bloc. It’s undergoing a mind blowing transformation that is being talked about as the mother of all makeovers. But like reunions, good things take time. Rome wasn’t built in a day and all that. So please pardon our appearance. And please keep an eye on what we’re doing via Twitter and Instagram.

Watch us transform at

theblocLA.com

follow us

#theblocLA @theblocLA

NEWFILMAKERS LA

FESTIVAL

July 25th, 2015

Photo Courtesy of Newfilmakers LA

Late Expectations Directed by: laurie arakaki USA The day before her high school graduation, India Wallace discovers a secret that will hurt the ones she loves most. She’s forced to come to terms with reality and tell the truth--which will disappoint everyone else, but may finally set her free.

Photo LA PhotosCourtesy courtesy of of Newfilmakers NewfilmakersLA

Photo Courtesy of Newfilmakers LA

Fighter Directed by: Kelly Rozell USA/ France Fighter is about an Afro-French singer named Jara Ezo. Her fierce persona and funky lyrics, however, tell the story of a much deeper theme...freedom. As a child she was beaten and bullied for being the only black girl in town, an experience that haunted her until her father taught her to fight back. When he passed, she learned to lean on the women in her life who taught her dance, music, courage, and to never give up on her dreams.

Painless Directed by: Dylan Stern USA/Local Two Sisters struggle to repair their fractured relationship while plotting to kill their sick Mom.

Photo Courtesy of Newfilmakers LA

Photo Courtesy of Newfilmakers LA

Jack of all Trades Directed by: Gregory T. Evans All Jack wanted, was a date with Christina. She was smart, beautiful, and way out of his league. Jack figured she was into doctors, rockers, maybe hipsters.

So he tried becoming all of them. Jack Of All Trades is a short comedy film that deals with the struggle of how to introduce your true self to someone when there are six of you.

Security Directed by: Romulo Alejandro USA/ Local An Afghan immigrant struggles to work as a security guard until a dire situation forces him to use his background as a former medic.

Photo Courtesy of Newfilmakers LA

Photo Courtesy of Newfilmakers LA

Rites Directed by: Stacey Malbrough Submitted by: Cheo Tyehimba Taylor USA/ Local A father takes his 4 year-old son to get his very first haircut but when violent intruders raid the barbershop, the outcome has unexpected consequences for both father and son.

Roubado Directed by: Erica Watson France / USA / Local A teen photographer in the south of France develops a tense relationship with his mother’s new boyfriend.

Photo Courtesy of Newfilmakers LA

Photo Courtesy of Newfilmakers LA

Crack Capitalism Directed by: Eric Alexander-Hughes USA/Local The C.I.A. covertly funded military operations in Nicaragua in the 1980’s using money from cocaine sales out of Nicaragua. These covert government activities substantially contributed to the ‘crack cocaine epidemic’ in urban America. The subsequent effect was that black incarceration was systematized and monetized.

id(ENTITY) Directed by: Cassell A. Ferere USA/NY Real life, and a dream world--fused together by the ills encountered by a young women. She seeks freedom from her tainted state of life, only to find her solace within herself and her dreams.

Photo Courtesy of Newfilmakers LA

Day One Directed by: Henry Hughes Written by NFMLA alum. Dawn Devoe USA/ Local On her first day in Afghanistan, an interpreter for the US Army is forced to deliver the child of an enemy bomb-maker.

Photo Courtesy of Newfilmakers LA

Photo Courtesy of Newfilmakers LA

Revival Directed by: Nadav Lazare Israel Hemi, a 60 year old Bible teacher, discovers that the punk band his wife belonged to 30 years ago is getting back together.These echoes of the wild past, and the threat of its return, shake up Hemi’s marriage and force him to reassess the prejudices of the religious community

Junk Girl Directed by: Mohammad Zare Iran An Iranian adaptation of Tim Burton’s poem of the same name: “There once was a girl who was made up of junk. She looked really dirty, and she smelled like a skunk.

She was always unhappy, or in one of her slumps-perhaps ‘cause she spent so much time down in the dumps. The only bright moment was from a guy named Stan. He was from the neighborhood garbage man. He loved her a lot and made a marriage proposal, but she already thrown herself in the garbage disposal.”

Photo Courtesy of Newfilmakers LA

Photo Courtesy of Newfilmakers LA

Niro and Flicka Directed by: by Hai Afik Israel Niro was raised on a Jewish settlement and befriended a local Arab shepherd, Muhammad spending more time in the company of Arab boys his own age. In his teens Niro was presented with an unusual gift: Muhammad gave him with a female donkey, blind in one eye and no longer suitable for heavy work. Niro adopted her, called her Flicka while completely embracing the Arab rural way of life, though never formally converting to Islam. Today Niro lives alone in the hills and earns his living by farming crops, with Flicka as his only company. An accomplished musician on the Oud, Niro pays Hebrew and Arab music in the streets of Jerusalem, making tentative steps, at the age of 40, towards reconciliation with his father and hoping that one day, that love will find him. A thought provoking film about people who choose the different path, and the rewards and consequences of their choices. The director, Niro’s brother, tries with the aid of the camera to understand the older sibling who will always be an enigma to him.

NewFilmmakers Los Angeles 1139 South Hill Street Los Angeles, CA 90015 www.newfilmakersla.com

FINANCES by

Dave Culwell

RETIREMENT SAVING 5 KEY INSIGHTS YOU

NEED TO KNOW

You know that saving for retirement is important, but do you feel on track with your saving goals? If you’re like most Americans, competing priorities—such as paying off debt or funding college—make it challenging to prioritize retirement saving. Today’s busy lifestyle also makes it difficult to dedicate the time and resources to proper retirement planning. Rest assured, you are not alone. More than twothirds of Americans agree that today’s fast pace makes it hard to stick to long-term goals. (1) Now more than ever, planning for your retirement is critical. Gone are the days when pensions and Social Security provided all of the income you needed for retirement. The new reality is that each of us is responsible for managing his or her retirement, and that starts with making sure you’re strategic in your planning.

Our goal is to take the guesswork out of creating retirement income so that you can relax, knowing that you have a roadmap to help ensure your money will last through retirement. At Northwestern Mutual, we’ve developed and tested retirement scenarios to make sure our plans provide a high level of financial security, and we’ve calculated these scenarios to a 90 percent probability of success. (2) But managing your money in retirement is only half the battle. It’s important to have a savings strategy today that focuses not just on how much you save, but how and where you save it. In this article, we’ll provide you five key insights to help you get started on the right path.

Along the way, we’ll provide examples that show you how your decisions can impact your savings plan.

1. YOUR NUMBER MAY NOT BE YOUR NUMBER Unfortunately, there’s no “one-size-fits-all” answer to the question “How much money do I need for retirement?”

Popular formulas and rules of thumb abound, but they are often inaccurate or misleading. To get an accurate idea of how much you’ll need, it might be helpful to think of retirement savings not as a single pot of money, but rather an accumulation of multiple resources that can be accessed in different ways depending on your needs and circumstances. Some, like Social Security and pensions, will create retirement income on a monthly basis. Other resources, like your 401(k) or investments, can be accessed as needed to help fund your retirement. But these resources need to be managed appropriately so they aren’t prematurely depleted. The amount you’ll need within each of these sources will depend on several factors, including: Your vision of retirement. Do you want to putter around the house or see the world? Spend your days golfing, painting or running a small business? Where will you live?

Is relocating in your future? All of these decisions will impact your retirement budget and the amount you need to save today to meet your goals. Use our short workbook to plan out your ideal retirement.

It’s also important to give your retirement a test-drive.

The idea of golfing every day or relocating to another state might seem like a dream, but until you actually do it, you won’t know if it’s exactly what you’ll want “full time.”

Your family history of longevity. Two generations ago, the typical retirement lasted about eight years. Today, you might be retired for 30 years or more.

Consider this: If you’re a 65-year-old man today, there’s a 50 percent chance that you’ll live beyond age 87. And if you’re a woman of the same age, there’s a 50 percent chance you’ll live beyond age 90. In fact, if you’re part of a couple, there is a 50% chance one of you will live beyond the age of 94. (3) Now more than ever, the types of income sources you’ll have in retirement are critical to helping you ensure your money will last as long as you do.

Your anticipated tax bracket during retirement. Bearing in mind that the tax laws may change multiple times before or during your retirement, you need to plan your retirement income resources to best minimize taxes and maximize your income.

The common assumption is that you will be in a lower tax bracket during retirement. While that may be true, your income and your retirement tax bracket could actually be higher than you expect—particularly if you are saving aggressively in order to maintain your current lifestyle. You’ll want to have a mix of tax-free and tax-deferred sources of income that will allow you to make withdrawals strategically during retirement, taking funds at the optimal time based on tax and market implications.

Your ability to save. At some point, you will need to reconcile the amount you are hoping to accumulate with the amount you are actually able to save today. If you are not able to save as much as you would like and don’t feel it is likely that you will “catch up” to your retirement goals, you may need to re-envision your retirement lifestyle.

On the other hand, if you are able to make some sacrifices today to increase your retirement savings, that can translate into a more comfortable lifestyle in the future.

2. SAVE EARLY AND AS MUCH AS YOU CAN These time-honored strategies can help you make saving for retirement easier and less painful, helping you increase your chances of realizing your retirement goals.

MAKE SAVING A HABIT Saving a portion of each paycheck is the single most reliable way of getting and staying on track to reach your retirement goals. Part of the saving habit involves these two important rules: Pay yourself first. Save a portion of your paycheck before the money even reaches your checking account. Automate your savings program so you don’t even think about it, whether it’s a pretax contribution to a 401(k) plan or an automatic deduction that goes into other savings vehicles, such as investments.

Bank your raises. When you live within your means, each time you get a raise, you have a new opportunity to increase the percentage of your savings.

We recommend you spend a little of it so you get to enjoy it, but continue to live with your old budget and up your savings rate as much as possible.

Let’s look at the impact a 1 percent increase has on your retirement savings.

For this example, we look at an individual who currently makes $100,000 per year and has 25 years until retirement. She currently has $80,000 in retirement savings and saves 5 percent of her salary each year. If she maintains the current 5 percent rate, she will have accumulated over $850,000 at the end of year 25.

However, if she increases her savings percentage by 1 percent each year until she reaches 15 percent (and then contributes 15 percent thereafter), she’ll accumulate at least $650,000 more in retirement savings, at the end of 25 years, than if she had maintained her flat 5 percent contribution.

START EARLY The answer to “When should I start saving?” is always “Now.” By starting regular retirement saving contributions as early as possible and letting your money work for you undisturbed over the years, you can have far more money at retirement than someone who starts years later but invests more each month. The reason is the power of compounding, which simply means that you are earning interest on your interest. When you reinvest your returns, dividends or interest, it’s as if your money has made additional investments for you. By starting as early as possible, your money has more time to work for you. The graphic to the right shows how much you’d need to save each month to reach one million dollars by the age of 65. As you can see, the value of time and compounding growth has a dramatic impact on the amount of monthly savings required. If you didn’t start a retirement savings program at 25 or even 35, however, it’s not too late to start. Develop your saving habit, paying yourself first and

banking your raises. If you are unsure where to begin or how much you can save, a financial advisor can help you set up a realistic program to get you started saving toward your retirement goals.

money can have an impact on how much retirement income is available. Having multiple sources of retirement income allows you to turn on and off those sources based on your needs, goals and tax situation.

SAVE AS MUCH AS YOU CAN

Below, we highlight some of the most common sources of income in retirement:

As a rule of thumb, many industry experts recommend saving 15 to 20 percent of your income. How you divide • Deferred annuities. Funded by either a single deposit, that savings may vary greatly depending on your age and such as a 401(k) rollover, or a series of deposits, decircumstances. As life events happen, such as marriage ferred annuities allow you to accumulate retirement or kids, you’ll likely have different short-, mid- and longfunds on a tax-deferred basis and then turn them term goals. into a stream of lifetime income during retirement.

Fixed annuities offer a fixed interest rate with safety In your 20s, your short-term goals may not include saving of principal, while variable annuities offer professional at all, but rather paying off college loans and a car loan. management of numerous investment options. Both You’ll also want to work toward building an emergency types of deferred annuities can provide a death benfund of about six months’ expenses. Your mid-term goal efit to your beneficiaries. might be saving for a house. Retirement is decidedly a • Investments. There is no limit to the number of inlong-term goal, but an important one—so take advanvestments you can make in stocks, bonds and mutage of the power of compounding and contribute regutual funds outside of a traditional retirement account. larly to a retirement account.

Investments are bought with after-tax dollars, and when sold, the growth (amount earned beyond your In your 30s and 40s, you may have purchased a home or initial investment) is generally taxed at capital gains other assets that require a larger portion of your monthly tax rates. The capital gains tax rate is lower than your income. In addition, you may be saving toward creating ordinary income tax rate. For example, a single india college fund for your child or taking a big vacation. At vidual earning $100,000 in 2014 will pay 28 percent this point you’ll hopefully be earning more and have less ordinary income tax versus 15 percent capital gains high-interest-rate debt, such as credit card debt, so your tax. percentage of savings going to retirement can be higher. • 401(k). With a defined-contribution plan through your This is the age, for most, that your earning potential is employer, you can make pretax contributions that restrongest. As you experience promotions or raises, induce your taxable income today. Your employer may crease your savings percentages (as shown previously also make contributions, and earnings on both emin the “Make saving a habit” section) to benefit from both ployee and employer contributions grow on a tax-dea higher disposable income and larger retirement saving ferred basis. You aren’t taxed on the money until you contributions. take it out of the retirement account, and 401(k) plans and 403(b) plans, which are available to employees In your 50s and 60s, your earnings potential may continof public or nonprofit organizations, generally offer a ue to be strong. With the mortgage paid off and the kids variety of investment vehicles. For this source, you out of college, you might be able to save more than 20 can contribute up to $17,500 in 2014 with an addipercent of your income if you need to catch up to your tional $5,500 for people over age 50. retirement saving goals. Whatever your age, the key to • Traditional IRAs. Contributions to a traditional Indisuccessful retirement saving is to not wait. If you’ve had vidual Retirement Account (IRA) may be tax deducta financial setback and are faced with debt, pay off your ible, depending on your income and whether you debt and save at the same time. Prioritize your debt, payalso participate in an employer-sponsored retirement ing off high-interest credit card debt as quickly as posplan. Similar to 401(k)s, earnings in a traditional IRA sible. Other debt, such as student loans and mortgage grow tax deferred. You are able to contribute up to and home equity loans, may have lower interest rates $5,500 per year, with an additional catch-up contriand provide tax deductions, so you may choose to not bution of $1,000 for eligible adults over age 50. pay them off early.

• Roth IRAs. Contributions are made to a Roth after tax, so they will not reduce your taxable income to3. DIVERSIFY YOUR INCOME SOURCES day; however, your money grows tax free, and distributions from your Roth are generally tax free during There is a wide variety of investment vehicles from which retirement. This is a good option for those who feel retirement income may be drawn. Where you put your they will be in a higher tax bracket when they retire.

You can contribute up to $5,500 ($6,500 for those 50 and over) to Roth IRAs, but the ability to contribute is limited based on your income. In 2014, contribution limits start phasing out at income levels of $114,000 for singles and $181,000 for married couples filing jointly, and no Roth IRA contributions are available for singles earning more than $129,000 or married couples earning more than $191,000.

• Roth 401(k)s. The Roth 401(k) is a Roth option offered within an employer-sponsored 401(k) plan. (In order to participate, your employer must offer this benefit.) A Roth 401(k) carries all of the characteristics (tax-free growth and tax-free distributions) of a Roth IRA except for income limits. Unlike a traditional Roth IRA, the Roth 401(k) has no income limits for contributions. In 2014, you are permitted to contribute up to $17,500 to a traditional 401(k) and a Roth 401(k) combined. If you’re over 50 years old, you have the option for an additional $5,500 catch-up contribution.

• Permanent life insurance. Permanent life insurance provides lifetime protection of your assets through a death benefit to your survivors. The policy also accumulates cash value that can be accessed to help pay for emergency needs. If your death benefit needs decrease over your lifetime, the cash value within your policy can be used to help supplement retirement income. (4) The cash value grows tax free and generally can be accessed tax free up to the amount contributed.

Choosing the right combination of investments and savings vehicles is an individual decision that should be part of your comprehensive financial plan. Deciding how to divide and invest your retirement savings dollars should not only be based on the amount of money you have to invest, but it should also take into consideration these three important factors: Your risk tolerance. Are you able to stomach changes in the value of your portfolio with fluctuations in the stock market, or do you like a more conservative approach?

Your financial advisor can give you a risk tolerance quiz to help you determine the right asset allocation—how to divide your savings among various asset classes— to achieve the most growth at a risk level that lets you sleep at night. The graphic to the right shows the risk and return relationship between fixed income and equities based on an investor’s risk tolerance (conservative to moderate and aggressive).

Your investment time frame. You may choose a different mix of investments depending on whether you are 30 years from retirement or three years into retirement. Your

financial advisor can help you develop a plan and keep it updated to match your changing circumstances.

How you’ll take it back out again. You need to know how you’re going to pull the money out to know where to put it in. How you take distributions from your retirement accounts is just as important as how you create the accounts in the first place. Without a well-thought-out distribution strategy, you could pay too much in taxes or take too much too soon, leaving you at risk of outliving your investments.

One useful technique is using a cash reserve to increase the amount of income you can spend with confidence.

A cash reserve is an account with cash or cash equivalents, funded by your retirement savings, that typically contains enough money to cover your living expense for about two to three years. By establishing a cash reserve, you won’t be as likely to have to sell your investments or withdraw from your other income sources at inopportune times, and you can maintain better control over income taxes. A comprehensive financial plan should demonstrate how much you can expect in retirement income based on various investment, saving and distribution scenarios. And it should be able to show the impact to your plan if you change course throughout your life.

Below we provide two examples (5) of retirement cashflow plans (at different ages) for the Dixons, a married couple. In the first example, the couple (at ages 30 and 28) first met with their financial advisor to understand their current state against their future plans. Based on their comprehensive plan, the Dixons realized that their current savings strategies would result in their cash flow running out at age 76. Armed with the information about their projected shortage, the Dixons could proactively work with their advisor to adjust their plan to better help them meet their goals. As the Dixons got closer to retirement (ages 55 and 53) the adjustments they made significantly impacted their plan and resulted in meeting their retirement income goals well into their 90s.

4. PROTECT YOUR RETIREMENT ASSETS FROM THE UNEXPECTED When most people think of risks to their retirement assets, they think of investment risks—in other words, the risk of losing a portion of their principal because of a correction in the market, inflation, interest rate fluctuations or lack of liquidity. While it’s important to remain aware of those risks and your comfort with each (“risk tolerance”), there are three very real risks to your well-being that could impact your retirement saving goals and your family’s lifestyle for years to come. Disability. All retire-

ment strategies require funding from income, so if you’re not earning income, there is no savings plan. People in their working years run a greater risk of being disabled for 90 days or more than they do of dying. (6) And for most, disability is the result of illness rather than accident. If you are disabled during your prime earning years, it could greatly impact your retirement saving plan. Let’s look at a scenario of how a disability could impact your retirement savings.

This example (7) illustrates the long-term impact a twoyear disability has on savings. Two different investors have a portfolio valued at $250,000 (assuming a 6 percent after-tax rate of return) and contribute the same amount each year, 10 percent of income. (Investor B’s contribution is 10 percent minus the amount used to purchase the insurance.)

Investor A elected not to buy disability insurance, and Investor B purchased a disability income policy. As expected, there is a significant difference on the impact of the investment account if a disability occurs and if there is coverage. Without insurance, Investor A experiences about a $1 million dollar decrease in his overall portfolio, where Investor B sees just an 8 percent difference.

Untimely death. If you should die unexpectedly during your working years, your family will suffer the loss of not only your paycheck for current needs, but also the financial stability of the retirement nest egg you would have continued to build for retirement. Life insurance can provide for both your family’s current lifestyle as well as your spouse’s plans for retirement.

Long-term care needs. As our lifespan increases, so does our chance of needing care for an unexpected or long-term illness. And in most cases, this care is typically not covered by health insurance or Medicare. Without proper planning and protection, an unexpected illness could require you to prematurely deplete your assets.

Evaluate all of the options available to you to cover a potential longer-term illness.

5. AVOID COMMON PITFALLS Once you’ve developed your retirement savings plan, stick to it as closely as possible. Don’t be tempted by a well-meaning friend with a tip that’s a “sure thing” or distracted by extravagant purchases. Also, be aware of these common pitfalls to avoid along the road to retirement: Over-diversification. Diversification is one of the foundations of risk management, but when you overdo it— spread your investments among common mutual fund

families—you may actually end up paying extra fees.

The key is to maintain a diversified portfolio in which the underlying investments—the stocks, bonds, and mutual funds—are spread among several types and sectors.

Too much tax deferral. Deferring taxes until retirement sounds like a great idea during your prime earning years, when you’re trying to maximize your take-home pay, but consider the long-term implications. If all of your retirement accounts are tax deferred, you will be paying taxes on all of your distributions during retirement. You want to have a balance of both tax-deferred and tax-free investments in retirement.

Depending too much on Social Security. Even today, people who rely solely on Social Security for retirement income have to live a very modest lifestyle. According to the Social Security Administration, Social Security benefits replace on average about 40 percent of a retiree’s income in retirement. (8) A key component of retirement income planning is to match your fixed expenses with fixed income. If Social Security will not be enough to cover your fixed expenses, your retirement savings strategy should include other provisions for fixed income.

Anticipating lower costs in retirement. Many retirement planning scenarios call for reduced living expenses: 70 to 80 percent of your current budget. That may not be the case at all. You may wish to travel frequently, reward yourself with an expensive hobby, move to a more desirable climate, hire out home maintenance services or live in an assisted living facility.

Prior to Medicare eligibility, health insurance may be considerably more expensive; and in your later years, your non-covered health-related expenses (such as a longterm care event) may be considerably higher. Our Detailed Budget worksheet will help you get a clearer idea of your expenses during retirement.

Planning to work during retirement. An industry study of pre-retirees found that 44 percent of them planned to work during retirement, yet less than 25 percent of retirees actually do work during retirement. (9) Another study showed that nearly half of all retirees were forced to leave the workforce earlier than they had planned. There are numerous reasons why you might not be able to work through your senior years, including: • An illness or injury.

• The need to act as caregiver for a loved one who is aging or ill.

• A changing job market or demand for your skills.

• A change of heart: You want to enjoy the retirement you’ve been dreaming about.

“I am a residential Senior Mortgage Loan Advisor. With over 20 years of lending experience I have helped over a thousand homeowners achieve their financing goals.

In this challenging financial market, I am working very diligently to help my clients with the right mortgage choices.

On a personal note, I am originally from Ohio and graduated from Kent State University with a Bachelors of Science degree. I reside in Hollywood and have lived in Los Angeles for the past 15 years. Lastly, I am an avid enthusiast of world travel, international architecture and California wines.

I look forward to being at your assistance.”

Tony Sabella Senior Loan Consultant West Los Angeles Team

www.tonysabella.com

!

!! !! !! ! ! ! ! ! ! !

Stearns Lending Inc.

323.852.4800 Office 310.210.7256 Mobile 209.322.3506 Fax

http://64777stearnshomeloans.com

DRE#01204373 NMLS ID# 233399

SUMMARY No matter what your age, saving for retirement should be one of your top saving priorities. The earlier you start and the more you save each month, the more likely you are to reach your goals for a secure and enjoyable retirement. Don’t let previous financial setbacks cause you to procrastinate—there are strategies for every age and situation.

You can employ a number of vehicles for your retirement savings, and there are many considerations for each choice. The key is to ensure that your retirement savings strategy is part of a comprehensive plan that accounts for your short-, mid- and long-term goals.

Make sure you’re working with a financial professional who creates a personalized, comprehensive plan focused on your unique situation. This plan should provide a detailed analysis of your optimum retirement saving strategies, and it should be adjusted over time as changes occur in your life and income. Northwestern Mutual, for instance, has developed and tested retirement solutions that provide lifetime income to meet retirement and legacy goals with a 90 percent confidence level.2 Contact a Northwestern Mutual financial professional today to get started on the right path.

THE NORTHWESTERN MUTUAL RETIREMENT INCOME PLANNING DIFFERENCE Across the industry, financial professionals have used a simulation called the Monte Carlo as a research tool to determine the maximum amount of retirement income in real dollars that can be supported each year by someone’s nest egg with a certain probability of success. This research has focused on risks such as market volatility and inflation for a retirement income plan and often used a 50/50 chance of meeting your goals as the standard.

However, it is critical to plan for not only the risk that your investments will not perform as expected, but also the risk that your retirement may be longer or more expensive than you expected.

Northwestern Mutual secured Ernst & Young (E&Y) to assist in developing our Retirement Strategy. Using their Monte Carlo tool, called Retirement Analytics™, we were able to randomize not only economic events such as inflation and investment returns or losses, but also the risks of living or dying during a given year, as well as the probability of having a long-term care event during retirement. To learn more about our research and unique approach to retirement income planning, download Retirement Income Planning with Confidence, our guide to ensuring your income lasts as long as you do in retire-

ment. As always, if you have any questions and/or would like to talk more about this or anything else regarding YOUR financial plan, please feel free to give me a call.

1 - Northwestern Mutual Planning and Progress 2013 Study.

2 - Northwestern Mutual tested Retirement Allocation Strategies with the Retirement Analytics Monte Carlo tool running 500 trials. A plan with a 90% confidence level means that in 90% of the trials (450), the plan met both goals of providing a specified amount of income over the lifetime of a hypothetical retiree and of meeting that retiree’s assumed legacy objective. A 75% confidence level option is also available.

3 - Source: Annuity 2000 Table with mortality enhancements determined using Projection Scale G2.

4 - Note: Accessing cash value will reduce the death benefit if not paid back.

5 - Values above the before-tax need line represent a surplus. Return rates used for the growth of investments are hypothetical assumptions that are reasonable for this plan and are not guarantees or projections. The projections or other information generated by this Asset Allocation output regarding the likelihood of various outcomes are hypothetical in nature, do not reflect actual investment or life results and are not guarantees of future results. Results may vary with each use and over time.

Other investments not considered may have characteristics that are similar to or superior to those being analyzed. THIS OUTPUT RELIES ON NUMEROUS HYPOTHETICAL ASSUMPTIONS ABOUT YOU AND THE WAY YOU IMPLEMENT YOUR PLAN THAT MAY NOT APPLY TO YOU AND RELIES ON PROJECTIONS ABOUT FUTURE EVENTS THAT MAY NOT BE VALID. Based on a Non-cancellable Guaranteed Renewable policy for a 40-year-old male non-smoker, 5A occupation class, with 3 percent “cost of living” benefits that increase coverage annually before, during and after disability. The premium is individually paid with after-tax dollars and increases annually as a result of monthly benefit increases when not disabled. The premium used in the scenario is net of dividends.* Investor A withdraws funds from the investment account to meet ongoing expenses, which are assumed to be equivalent to the amount of individual disability income benefit received by Investor B during the same two-year total disability. Investor B withdraws no funds, instead meeting ongoing expenses with individual disability income benefits received. Assumes the full monthly benefit received for the duration of the two-year total disability. Dividends used in this scenario reflect Northwestern Mutual’s 2010 dividend scale. Dividends are not guaranteed. Decisions with respect to the determination and allocation of divisible surplus, if any, are left to the discretion and sound business judgment of the company’s Board of Trustees. There is no guaranteed specific method or formula for the determination or allocation of divisible surplus. Accordingly, the company’s approach is subject to change. Neither the existence nor the amount of a dividend is guaranteed on any policy in any given policy year. Some policies may not receive any dividends in a particular year or years even while other policies receive dividends.

6 - CDA 2013 Advisor Disability Awareness Study, Council for Disability Awareness, 2-2013.

7 - Disability insurance policies are subject to full underwriting, which could affect the amount of coverage available as well as the actual premium charged. They also contain exclusions and limitations that could affect individual coverage. Product availability is subject to state approval, and premiums may vary by product and by state. For costs and more complete details, consult a Northwestern Mutual Financial Representative.

8 - Source: http://www.socialsecurity.gov/pubs/EN-05-10024.pdf.

9 - Source: LIMRA Retirement Study, 2007.

Dave Culwell Northwestern Mutual – DTLA 515 S Flower St, Los Angeles, CA 90074 213.243.7065 office dave.culwell@nm.com

Downtown LA Market Report Q1 2015

Wilshire Grand Center Metropolis

Oceanwide Plaza

Downtown Center Business Improvement District

Q1 2015 MARKET REPORT

About the DCBID Founded in 1998, the Downtown Center Business Improvement District (DCBID) is a coalition of nearly 1,700 property owners in the central business district united in their commitment to enhance the quality of life in Downtown Los Angeles. The organization has been a catalyst in the transformation of Downtown into a vibrant 24/7 destination.

The mission of the Economic Development team is to improve and revitalize Downtown Los Angeles and bring investment and new businesses to the area. We provide services to current and prospective residents, workers, and businesses including: • Development Consulting • Research and Information Requests • Events and Marketing • Monthly Housing and Office Tours • Customized Tours and Reports Whether you need information on new construction, introductions to local decision-makers and influencers, or you just want to learn more about Downtown’s dynamic growth, we are the portal for information on Downtown LA. To learn more about Downtown’s Renaissance and how to join us, visit www.downtownla.com.

DEFINITION OF DOWNTOWN LA The DCBID defines Downtown Los Angeles as the area bounded by the 110, 101 and 10 freeways and the LA River, plus Chinatown, City West, and Exposition Park. The projects contained in this report are within a portion of Downtown Los Angeles, shown on the map to the right.

ON THE COVER: Three $1 billlion+ construction projects: Wilshire Grand Center, Metropolis, and Oceanwide Plaza

2

Downtown Center Business Improvement District

Q1 2015 MARKET REPORT

Table of Contents EXECUTIVE SUMMARY .............................. 4 MARKET OVERVIEW Residential .................................................. 6 Office .......................................................... 6 Hotel ........................................................... 7 Retail ........................................................... 7 DEVELOPMENT UPDATE Overview ..................................................... 8

7

Significant Real Estate Sales ..................... 8 Commercial Development Map ............... 9 Residential Development Map ............... 10 Under Construction ................................. 12 Proposed .................................................. 14 FEATURED PROJECTS

9

Major Mixed-Use ..................................... 16 Residential ................................................ 17 Office ........................................................ 18 Hotel ......................................................... 19 Retail ......................................................... 20 Civic & Cultural ........................................ 21 SPOTLIGHT ON DTLA

16

Local Media .............................................. 22 US and Global Media .............................. 23 Downtown Center Business Improvement District

3

Q1 2015 MARKET REPORT

Executive Summary Downtown LA began 2015 with a wave of new development including groundbreakings at 10 projects with over 2,300 residential units, 1 million square feet of retail space, and 200,000 square feet of office space.

Q1 KEY STATS

$2,450

95%

Apartment Average Rent

Apartment Occupancy

Residential Several large-scale developments were announced, including mixed-use projects

by The Hazens Group and Mack Urban.

The biggest news of the quarter was developer SunCal’s $130 million purchase of 15 acres in the Arts District for a project with game-changing potential.

Office Increased demand for Downtown office space led to rising rents and a third consecutive quarter of positive net absorption. Recent highlights include WeWork’s 45,000 sf lease in the Fine Arts Building and Capital Group’s 15-year extension on 323,000 sf at Bank of America Plaza.

9,350 Number of Residential Units Under Construction 19.4% Office Vacancy Rate $3.25 Average Price of Class A Office Rent Per Sq. Ft.

Q1 KEY HIGHLIGHTS

2,350 New residential units broke ground

2,001

Condo units under construction (Metropolis, Oceanwide Plaza and TEN50)

Renovations began on the Broadway Trade Center SunCal bought 15 acres in the Arts District for $130 million Rising Realty purchased Figueroa Courtyard with plans to renovate and upgrade.

Hotel & Retail The hospitality sector continued to grow with 2,500 hotel rooms under construction and new investments like the Sydell Group’s purchase of Giannini Place and AEG’s proposed expansion of the JW Marriott. New retail highlights included openings at Verve Coffee Roasters and Neal Fraser’s Redbird, and the start of work on Australian fashion retailer BNKR’s flagship store at 9th and Broadway.

INVESTMENT IN DOWNTOWN LA Between 1999-2014

$1.2b

Arts & Entertainment

$2.6b

Civic & Institutional Commercial

$9b $5.7b

Mixed-Use

Cultural Finally, capping a quarter of expansion and investment in each sector, construction was completed on The Broad and preparations began for a September 20 opening that promises to take the Downtown cultural scene to new heights.

4

Residential

$7.3b

Figueroa Corridor/Expo Park TOTAL: $19.2

Downtown Center Business Improvement District

billion

$1.5b

1020 S. Figueroa

The Millenium Biltmore Hotel

Level

BNKR

Downtown Center Business Improvement District

5

Q1 2015 MARKET REPORT

Market Overview: Residential & Office RESIDENTIAL • 553 new apartment units opened in Q1 at The New Broadway Lofts, AVANT Phase 2, and Da Vinci Building A. • Rising rents and strong occupancy rates indicate continued demand for new housing.

• The condo market remains tight with limited inventory for sale. Three new projects will bring 2,001 condos to market in the next 2-3 years: Metropolis, Oceanwide Plaza, and TEN50.

2,001

CONDO UNITS UNDER CONSTRUCTION

Q1 2015

Q1 2014

Apartment Occupancy Rate

95%

95%

Apartment Rent Per Sq. Ft.

$2.50

$2.25

$2,450

$2,250

$626

$553

57

58

Average Rent Per Unit Average Condo Price Per Sq. Ft. Condo Sales Source: CoStar, The Agency

OFFICE • A third straight quarter of positive net

Q1 2015

Q1 2014

19.4%

20.6%

Class A Rent Per Sq. Ft.

$3.22

$3.01

Overall Rent Per Sq. Ft.

$3.05

$2.95

YTD Net Absorption

9,477

-162,529

Grand Center, Broadway Trade Center,

YTD Leasing Activity

615,022

353,166

and others indicate renewed interest in commercial space in Downtown.

Source: Cushman & Wakefield

absorption has dropped vacancy rates by 1.2 pps since last year to 19.4%.

• Rents continue to increase as property owners make improvements to secure higher value tenants.

Vacancy Rate

• New projects including the Wilshire

6

Downtown Center Business Improvement District

Q1 2015 MARKET REPORT

Market Overview: Hotel & Retail

2.1m

SQUARE FEET OF RETAIL UNDER CONSTRUCTION

HOTEL

RETAIL

• There has been an explosion of interest in the hotel sector with several new projects announced and under construction.

• Over 2.1 million square feet of retail space is under construction in Downtown, setting the stage

• The Sydell Group purchased Giannini Place at 7th and Olive, one block from their Freehand Hostel, currently under construction.

• AEG announced plans to move forward with an expansion that will add over 700 rooms to L.A. LIVE.

Q1 2015

Q1 2014

72.1%

74.4%

Average Daily Rate YTD

$193.85

RevPAR YTD

$139.70

Occupancy Rate YTD

Source: LA Tourism

for a shopping and dining boom.

• The Ratkovich Company continues to transform The BLOC with its open-air design anticipated to open in late 2015.

• Three mega retail centers, each boasting 180,000+ sf of retail space broke ground in Q1: Oceanwide Plaza, Broadway Trade Center and AT MATEO.

Q1 2015

Q1 2014

Vacancy Rate

7.2%

7.4%

$182.32

Average Rent Per Sq. Ft.

$2.61

$2.05

$135.61

Net Absorption

103,200

71,094

Source: CoStar

Downtown Center Business Improvement District

7

Q1 2015 MARKET REPORT

Development: Overview As 2015 began, the pace of development reached unprecedented levels in both the number and scale of projects under construction. The growing interest in Downtown LA is also evident in real estate sales activity for mature projects and potential development sites. Particularly newsworthy was the sale of 8th+Hope to Essex Property Trust for the record-breaking price of $200 million and the purchase of one of the largest sites in the Arts District for $130 million by residential developer SunCal.

RESIDENTIAL UNITS

Before 1999

Since 1999

Current Inventory

Market Rate Rental

2,426

14,189

16,615

7,862

24,477

8,810

829

4,807

5,636

2,001

7,637

3,440

8,371

3,707

12,078

69

12,147

253

11,626

22,329

34,329

9,932

44,261

12,503

58,702

16,984

75,686

Condos Affordable Total Estimated Population

Under Construction

Total When Complete

Proposed

Estimated Population = #of units x 1.8 residents per unit x 95% occupancy rate

Current Inventory

COMMERCIAL Hotel Rooms

Under Construction

Total When Complete

Proposed

7,961

2,566

10,527

2,024

Square Feet of Office

34,639,358

1,362,000

36,001,358

528,000

Square Feet of Retail

22,194,437

2,103,400

24,297,837

950,000

SIGNIFICANT REAL ESTATE SALES Address

Description

Buyer

Seller

Price

8th+Hope

Recently completed residential tower

Essex Property Trust

Wood Partners

$200 million

1205-31 Wholesale St.

15 acre development site

SunCal

Lowe Enterprise Investors

$130 million

1201 S. Grand Ave.

Existing structure; Potential development site

Sport Dimension

RKDC Family Trust

$26 million

1045-1057 S. Olive St.

Existing structure; Potential development site

Crescent Heights

Richard Berenzweig

$11.5 million

221 N. Figueroa St.

Low-rise office complex

Rising Realty

US Bank NA

Undisclosed

8

Downtown Center Business Improvement District

Commercial Development Office / Hotel / Retail Cultural / Civic

n Existing n Under Construction/Renovation n Proposed Opened or began construction in Q1 As of 03/31/15

Downtown Center Business Improvement District

9

Residential Development n Existing n Under Construction/Renovation n Proposed Opened or began construction in Q1 As of 03/31/15

10

Downtown Center Business Improvement District

Downtown Center Business Improvement District

11

Q1 2015 MARKET REPORT

Development: Under Construction Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Estimated Completion

Developer

MAJOR MIXED USE SOUTH PARK Metropolis

Francisco b/w 8th & 9th

Oceanwide Plaza

11th & Figueroa

1,310 C

350

=

65,000

2018

Greenland

540 C

183

=

180,000

2018

Oceanwide

FINANCIAL DISTRICT Wilshire Grand

900 Wilshire Boulevard

=

900

350,000

15,000

2017

AC Martin

The BLOC

7th & Flower/Hope

=

202

200,000

450,000

2015

The Ratkovich Company

8th and Broadway

=

200

200,000

500,000

2017

Waterbridge

HISTORIC CORE Broadway Trade Center RESIDENTIAL ARTS DISTRICT Garey Buidling

905 E. 2nd St

320

=

=

15,000

2015

Megatoys & Lowe Enterprises

950 E. Third

950 E. Third St

472

=

=

26,000

2017

Legendary Development

Da Vinci

909 W. Temple St

230

=

=

8,200

2016

GH Palmer Associates

Blossom Plaza

900 N. Broadway

240

=

=

20,000

2015

Forest City Residential West

Valencia

1501 Wilshire

218

=

=

4,500

2016

Astani Enterprises

6th & Bixel

611 S. Bixel St

640

=

=

25,000

2016

Holland Partners

1416 W. 7th

1419 W. 7th St

87

=

=

1,000

2016

Canfield Development

The Garment Lofts

217 E. 8th St

77

=

=

8,000

2015

Capital Foresight

The Maxfield Building

819 Santee St

96

=

=

6,000

2015

Capital Foresight

888 Hope

888 S. Hope St

526

=

=

TBD

2016

CIM

Level

888 Olive St

283

=

=

11,000

2015

Onni Group

8th & Grand

770 S. Grand Ave

700

=

=

42,000

2015

Carmel Partners

801 S. Olive

801 S. Olive

363

=

=

10,000

2017

Carmel Partners

7

=

=

TBD

2016

Anjac Fashion

CHINATOWN

CITY WEST

FASHION DISTRICT

FINANCIAL DISTRICT

HISTORIC CORE Singer Sewing Building

806 S. Broadway

Pershing Apartments

502 S. Main St

69

=

=

TBD

2015

Skid Row Housing Trust

Topaz

550 S. Main St.

159

=

=

23,000

2017

Jade Enterprises

Broadway Palace

Olympic & Broadway

686

=

=

35,000

2016

GH Palmer Associates

932 S. Hill St.

932 S. Hill

18

=

=

5,000

2015

Urban Investment Group

LITTLE TOKYO Block 8-D

2nd & San Pedro St

240

=

=

16,000

2016

Sares-Regis Group

Vibiana Lofts

114 E. 2nd St

238

=

=

4,000

2017

Weintraub Real Estate Group

12

Downtown Center Business Improvement District

Q1 2015 MARKET REPORT

Development: Under Construction Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Estimated Completion

=

5,700

2016

Trumark Urban

2016

Hanover

Developer

SOUTH PARK TEN50

11th and Grand

151 C

1000 Grand

1000 Grand Ave

274

=

=

12,000

Olympic & Olive

924 S. Olive

263

=

=

14,000

2016

Hanover

1001 Olive

1001 S. Olive St

201

=

=

4,000

2016

Lennar

Olive and Pico

1200 S. Grand Ave.

640

=

=

42,000

2016

Wolf Partners

Mack Urban Phase 1

11th, Grand, Pico, Hill

362

=

=

6,000

2017

Mack Urban

E on Grand

1249 Grand Ave

112

=

=

5,000

2017

4D Development

Onyx

500 W. Pico Blvd

410

=

=

42,000

2017

Jade Enterprises

=

HOTEL FINANCIAL DISTRICT Freehand Hostel

416 W. 8th St

=

200

=

=

2016

Sydell Group

Hotel Clark

426 S. Hill St

=

348

=

=

2015

Chetrit Group

851 S. Grand Ave

=

183

=

=

2015

Chetrit Group

SOUTH PARK Embassy Hotel OFFICE/RETAIL ARTS DISTRICT AT MATEO

Mateo St & Palmetto St

=

=

=

200,000

2016

Blatteis & Schnur

Alameda Square

7th & Alameda

=

=

250,000

=

2016

Atlas Property

LA Cleantech Incubator

Hewitt & Palmetto

=

=

70,000

=

2015

LACI

2045 Violet

2045 Violet

=

=

20,000

10,000

2015

DCM

Stanford Plaza

895 E. 14th St

=

=

=

150,000

2015

Joia Trading

City Market South

11th and San Julian

=

=

30,000

100,000

2016

Peter Fleming

353 S. Broadway

353 S. Broadway

=

=

50,000

10,000

2015

Flatiron Development

527 S. Broadway

527 S. Broadway

=

=

70,000

8,000

2015

King's Arch

Clifton’s Cafeteria

7th & Broadway

=

=

=

15,000

2015

Andrew Meieran

The Vail

735 S. Broadway

=

=

40,000

10,000

2016

George Peykar

425 W. 11th St

=

=

82,000

=

2015

Lincoln Property Co.

Federal Courthouse

2nd and Broadway

=

=

=

=

2016

GSA

The Broad

2nd and Grand

=

=

=

=

2015

The Broad Foundation

901 E. 3rd St

=

=

=

=

2016

Hauser & Wirth

FASHION DISTRICT

HISTORIC CORE

SOUTH PARK The Desmond CIVIC & CULTURAL BUNKER HILL/CIVIC CENTER

ARTS DISTRICT Hauser Wirth & Schimmel

TOTAL UNDER CONSTUCTION

9,932 Residential Units

2,566 Hotel Rooms

1,362,000 Office Sq. Ft.

2,103,400 Retail Sq. Ft.

TOTAL # OF PROJECTS = 49

Condo = C

Downtown Center Business Improvement District

13

Q1 2015 MARKET REPORT

Development: Proposed Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Developer

MAJOR MIXED USE FASHION DISTRICT City Market

9th and San Pedro

945 C

210

TBD

225,000

Peter Fleming

2nd and Grand Ave

450

300

47,000

209,000

Related California

1020 S. Figueroa

1020 S. Figueroa

650 C

250

=

80,000

Hazens

Mack Urban Phase 2

1120 S Grand/1155 S Olive

666

300

=

21,000

Mack Urban

AMP Lofts

695 Santa Fe Ave

320

=

=

20,000

Bolour Associates

Industrial Street Lofts

1525 Industrial Street

360

=

=

12,000

Camden

Alameda & 4th Lofts

360 South Alameda

63

=

=

TBD

1800 E. 7th St.

1800 E. 7th St

125

=

=

8,000

527 S. Colyton St.

527 S Colyton St

234

=

=

13,400

Bolour Assoc

LA Plaza Cultura Village

400 Cesar E Chavez

345

=

=

50,000

LA Plaza de Cultura y Artes

College Station

924 N. Spring St

685

=

=

40,000

Evoq

1027 Wilshire Blvd

376

=

=

6,500

Central City Development

Onni Tower

820 S. Olive

589

=

=

4,500

Onni Group

5-OH

Fifth and Olive

312

=

=

17,000

939 S. Broadway

939 S. Broadway

163

=

=

TBD

Barry Shy

920 S. Hill

920 S. Hill St

239 C

=

=

TBD

Barry Shy

4th and Broadway

4th and Broadway

400

=

=

7,000

Medallion 2.0

4th and Main

500

=

=

38,000

Saeed Farkhondehpour

SB Omega

601 Main

500 C

=

=

25,000

Barry Shy

Title Insurance Building

433 S. Spring

250

=

=

40,000

Capital Foresight

The Chelsea

216 W. Fifth St

28

=

=

TBD

Nick Hadim

955 S. Broadway

955 S. Broadway

250 C

=

=

TBD

Barry Shy

Banco Popular

354 S. Spring

212

=

=

TBD

Allen Gross

Beacon on Hill

4th and Hill

428

=

=

2,900

525 Spring

525 S. Spring St.

360

=

=

TBD

Downtown Management

737 S. Spring

737 S Spring St

320

=

=

TBD

Holland Partners

BUNKER HILL Grand Avenue Project SOUTH PARK

RESIDENTIAL ARTS DISTRICT

South Alameda Development Elm Tree Investment

CHINATOWN

CITY WEST 1027 Wilshire FINANCIAL DISTRICT

Macfarlane Partners

HISTORIC CORE

14

Downtown Center Business Improvement District

Izek Shomof

Equity Residential

Q1 2015 MARKET REPORT

Development: Proposed Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

=

=

TBD

Etco Homes

Developer

LITTLE TOKYO Etco Homes

118 Astronaut Ellison S. Onizuka St

66

SOUTH PARK Onni Towers

1212 Flower St

730

=

=

8,000

Onni Group

1133 Hope Tower

1133 Hope

208 C

=

=

5,000

Amacon

1200 Figueroa

1200 Figueroa

648 C

=

=

40,000

916 Georgia St

916 Georgia St

29

=

=

TBD

1400 S. Figueroa

1400 S. Figueroa St

106

=

=

4,750

DHG Family Trust

Forest City South Park

156 W. 11th St

450

=

=

9,000

Forest City

Apex Phase II

900 S. Figueroa St

341

=

=

15,000

Six Four Nine Lofts

Wall St. and 7th

55

=

=

TBD

Skid Row Housing Trust

FLOR 401

Wall St. and 7th

100

=

=

TBD

Skid Row Housing Trust

David Y. Lee TRG

Holland Partners

HOTEL FASHION DISTRICT Dart Hotel

820 S. Spring

=

14

=

=

Juan Pablo Torre

Case Hotel

11th and Broadway

=

151

=

=

Kor Group

JW Marriott Expansion

Olympic & Georgia

=

755

=

=

AEG

1130 S. Hope

1130 S. Hope

=

44

=

=

Kevin Burke

419 S. Spring

=

TBD

=

=

PNK Group

The Ford Building

2060 E 7th Street

=

=

271,000

=

Shorenstein

4th & Traction

963 E 4th Street

=

=

100,000

30,000

Atlas Capital

500 S. Santa Fe

500 S. Santa Fe

=

=

65,000

12,000

Chalmers

718 S. Hill

=

=

45,000

7,000

SOUTH PARK

HISTORIC CORE 419 S. Spring OFFICE/RETAIL ARTS DISTRICT

JEWELRY DISTRICT 718 S. Hill

TOTAL PROPOSED

12,503 Residential Units

2,024 Hotel Rooms

528,000 Office Sq. Ft.

Urban Blox

950,050 Retail Sq. Ft.

TOTAL # OF PROJECTS = 45

Condo = C

Downtown Center Business Improvement District

15

Q1 2015 MARKET REPORT

Featured Projects: Major Mixed Use

PROPOSED

UNDER CONSTRUCTION

1020 S. FIGUEROA

WILSHIRE GRAND CENTER

Developer: Hazens

Developer: AC Martin

At a cost of $700 million, Downtown’s latest mega-project in South Park will have 650 condos, 250 hotel rooms, and 80,000 square feet of retail.

At 73 stories, this $1 billion undertaking in the Financial District will be the tallest building west of the Mississippi and the first new office tower in Downtown in over 30 years.

UNDER CONSTRUCTION

UNDER CONSTRUCTION

Developer: Oceanwide

Developer: Greenland

Across from Staples Center and L.A. LIVE in South Park, this $1 billion project will include 540 condos, 183 hotel rooms, and almost 200,000 square feet of retail.

This long-awaited $1 billion project in South Park will include 1,310 condos, 350 hotel rooms, and over 60,000 square feet of retail.

OCEANWIDE PLAZA

16

Downtown Center Business Improvement District

METROPOLIS

Q1 2015 MARKET REPORT

Featured Projects: Residential UNDER CONSTRUCTION

THE GAREY BUILDING Developer: Lowe Enterprises

Expected to open by the end of 2015 with 320 rental units and 15,000 square feet of retail, The Garey Building is designed to reflect its Arts District surroundings and encourage pedestrian activity.

UNDER CONSTRUCTION

BROADWAY PALACE Developer: GH Palmer

This project, which is on both sides of Olympic Blvd at Broadway, will integrate the existing Historic Core architecture into its design and will feature extensive street-level retail.

UNDER CONSTRUCTION

1000 GRAND

Developer: Hanover This is the third project from Hanover within one block on Olympic Blvd. The three will bring over 700 residential units and 40,000 square feet of retail to South Park.

Q1 SELECT RENTAL OPENINGS Units

Average Asking Rent

Average Rent Per Sq. Ft.

Name

Address

Neighborhood

Da Vinci

909 W. Temple St.

Civic Center

287

$2,367

$3.19

The Broadway Lofts

430 S. Broadway

Historic Core

58

$2,042

$3.01

AVANT Phase 2

1420 S. Figueroa

South Park

161

$2,636

$3.30

Downtown Center Business Improvement District

17

Q1 2015 MARKET REPORT

Featured Projects: Office UNDER CONSTRUCTION

BROADWAY TRADE CENTER Developer: Waterbridge Capital With over 1 million square feet of space that has been vacant for years, this project will transform almost a full city block at Broadway and 8th in the Historic Core.

PROPOSED

4TH & TRACTION Developer: Atlas Capital The former Coca-Cola bottling facility in the Arts District is being revitalized into a high-design creative space with luxury amenities.

UNDER CONSTRUCTION

THE DESMOND

Developer: Lincoln Property Co. This historic department store building in South Park, two blocks from L.A. LIVE and Staples Center, will be the new AEG Live headquarters.

Q1 SELECT OFFICE LEASES Tenant

Building

Address

Capital Group

Bank of America Plaza

333 S. Hope St.

323,000

City of Los Angeles

350 Grand

350 S. Grand Ave.

115,591

Hueston Hennigan

PacMutual Building

523 W. 6th St.

CGI Technologies

350 Grand

350 S. Grand Ave.

9,272

SmithGroup

KPMG Center

550 S. Hope St.

7,767

HelloGiggles.com

Golden Boy Building

626 Wilshire Blvd.

5,223

18

Downtown Center Business Improvement District

Sq. Ft.

21,000

Q1 2015 MARKET REPORT

Featured Projects: Retail UNDER CONSTRUCTION

WHOLE FOODS

Developer: Carmel Partners Scheduled to open in November 2015, it will occupy the ground floor of a 700-unit residential project at 8th and Grand in the Financial District.

UNDER CONSTRUCTION

THE BLOC

Developer: The Ratkovich Company This summer, the roof comes off the former Macy’s Plaza, which will re-open in late 2015 as an open-air, pedestrian-friendly retail center anchored by a completely renovated Macy’s flagship store in the Financial District.

UNDER CONSTRUCTION

AT MATEO

Developer: Blatteis & Schnur The largest retail project in the Arts District will feature open-air pedestrian walkways and architecture that reflects the industrial surroundings.

Q1 SELECT RETAIL OPENINGS Fogo De Chao

Groundwork Coffee Co

Café Gratitude

Redbird

Pure Barre

The Squad Boys and Girls Club

Articulum General Store

Underground Kitchen

Liberty Travel

800 Degrees Pizzeria

Tione’s on Main

Juice Served Here

The Little Easy

Rotelli Cyclery

Verve Coffee Roasters

Downtown Center Business Improvement District

19

Q1 2015 MARKET REPORT

Featured Projects: Hotel PROPOSED

JW MARRIOTT EXPANSION Developer: AEG Formerly proposed as a Renaissance Hotel, AEG has chosen to move forward with an expansion that will bring over 700 rooms and a pedestrian bridge for better access to the Convention Center.

UNDER CONSTRUCTION

FREEHAND HOSTEL Developer: Sydell Group This hip new lodging concept that debuted in Miami will open in South Park and will include both lobby and rooftop lounges.

UNDER CONSTRUCTION

CASE HOTEL

Developer: KOR Group Situated south of the Ace Hotel, this historic conversion in the Fashion District promises to expand the boundaries of Broadway’s revival.

LOS ANGELES TOURISM RECORDS SET IN 2014

44m+ 20

visitors, up 4.8% from 2013

6.5m

foreign visitors, up 5.6% from 2013

Downtown Center Business Improvement District

$19.6b

in direct visitor spending, up 6.8% from 2013

Q1 2015 MARKET REPORT

Featured Projects: Civic & Cultural UNDER CONSTRUCTION

EXPO LINE EXTENSION Developer: Metro This light rail line is already a massive success from 7th/Metro Center to Culver City. The extension to Santa Monica, opeing early 2016, promises to reshape how people think about transit and create new opportunities for both the Westside and Downtown.

UNDER CONSTRUCTION

REGIONAL CONNECTOR Developer: Metro This 1.9-mile underground light rail extension set to open in 2020 will provide a one-seat ride for north/south and east/west travel across Los Angeles County through the heart of Downtown.

UNDER CONSTRUCTION

THE BROAD

Developer: The Broad Foundation Opening September 20, 2015, this Bunker Hill project has already helped establish DTLA as the art capital of the West Coast.

UNDER CONSTRUCTION

FEDERAL COURTHOUSE Developer: GSA Using an innovative design by SOM architects, this Bunker Hill project addresses security requirements without compromising aesthetics.

Downtown Center Business Improvement District

21

Q1 2015 MARKET REPORT

Spotlight on DTLA: Local Media 3/25/15

BROADWAY TRADE CENTER TO ADD NEW FLOORS Earlier this year, New York real estate investment firm Waterbridge Capital announced its intent to redevelop the once grand department store into an ecletic mixed-use complex akin to Manhattan’s Chelsea Market. Plans for the 1.1 million-square-foot building call for 500,000 square feet of office space, 200,000 square feet of shops and restaurants, and a hotel with up to 200 guest rooms… Futhermore, the addition of mezzanines and new rooftop levels would increase the building’s maximum height from 10 to 16 stories above ground. —Urbanize.LA

2/17/15

HISTORIC MILLENNIUM BILTMORE HOTEL BEGINS MULTI-PHASE RENOVATION IN DOWNTOWN LA The Millennium Biltmore Hotel–one of the most beautiful historic hotels in Los Angeles–is gearing up for a multi-phase renovation aimed at keeping the hotel competitive within Downtown LA, which is increasing in relevancy within the region as Downtown LA continues to evolve into an attractive destination for visitors and tourists. —DTLA Rising

2/2/15

DTLA’S FESTIVE ‘NIGHT ON BROADWAY’ BRINGS OUT THOUSANDS This event was a seven-year anniversary celebration for the Bringing Back Broadway initiative headed by Councilman José Huizar, a plan that strives to revitalize the historic buildings of the Broadway Corridor. According to the group, over 30,000 people attended Night on Broadway, which took place on Broadway between 3rd and 11th streets. — LAist.com

1/27/15

SOLAR-POWERED TRASH CANS COME TO DCBID Downtown should soon smell a little better. That’s because the Downtown Center Business Improvement District has replaced its trash bins, which often overflow onto the side-walk, with new, technologically advanced “Big Belly” Bins. — Downtown News

1/3/15

WIFI COMING TO DOWNTOWN METRO STATIONS Come May, riders will have WiFi access on their mobile devices aboard the Metropolitan Transportation Authority’s Red and Purple line trains between Union Station and Seventh Street, according to a December Metro memo.

— Downtown News

1/9/15

LE PETIT PARIS WILL BE THE MOST BEAUTIFUL RESTAURANT IN AN HISTORIC DOWNTOWN SPACE Le Petit Paris, which will tout everything from a grocery up front along Spring Street to outdoor patio seating overlooking the nearby urban park, is poised to become one of the most ambitious new restaurant projects in a part of town that’s chock full of places to eat. — la.eater.com

22

Downtown Center Business Improvement District

Q1 2015 MARKET REPORT

Spotlight on DTLA: US & Global Media

DEC. 2014

10 TOP DESTINATIONS TO VISIT IN 2015 “Exciting new hotels like the Ace, stores like Acne Studios and food venues like the revamped Grand Central Market – in addition to the recently completed $3 billion sports and entertainment complex known as LA Live – have injected downtown with a jolt of energy that’s helped lure visitors and residents away from LA’s sunny perimeter and into its urban core.”

AUG. 2014

THE BEST NEW RESTAURANTS IN AMERICA 2014 “Over the past year, Grand Central Market, much like the rest of Downtown L.A., has seen a remarkable renaissance. When I first started going to GCM a decade ago, it was for tacos and a glimpse into a world much different than what you’d find in, say, Malibu. It was authentic, if a bit gritty. Some of the food was good; much of it wasn’t. But now, with new stands joining the fray, it’s great... it’s that rich and varied diversity that makes the market—and Los Angeles as a whole—unique.”

APR. 2014

LA’S DOWNTOWN MAKEOVER “While Los Angeles can often appear like a ghost town to those accustomed to dense metropolises such as Singapore, downtown is one of the few places that actually bustles, with many coming for the food and staying for the nightlife.”

APR. 2014

DOWNTOWN LA GOES FROM GRITTY TO GLITZY “In the latest plot twist for Downtown LA, gritty is giving way to hip gentrification, with multi-million dollar condos, new restaurants such as Bestia and hot spots like the Ace Hotel.”

JAN.2014

AMERICA’S NEXT GREAT CITY IS INSIDE LA “The new capital of cool in the US…America’s new great city.”

Downtown Center Business Improvement District

23

PLEASE CONTACT THE DCBID WITH ANY QUESTIONS YOU MAY HAVE. NICK GRIFFIN Director of Economic Development (213) 416-7522 ngriffin@downtownla.com ELAN SHORE Economic Development Associate Research and Special Projects (213) 416 -7518 eshore@downtownla.com

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