Window to the WestsideLA

YouTube Goes Old School Industrial In Los Angeles

2012-02-28T10:57:00.001-08:00

YouTube Goes Old School Industrial In Los Angeles

Move over, Spruce Goose. Here comes YouTube.Internet video site YouTube and marketing agency Earthbound Media Group have agreed to be the first tenants at the Hercules Campus, an office park being created by Los Angeles developer Wayne Ratkovich from buildings in Playa Vista that were once the hub of aerospace giant Hughes Aircraft Co.
YouTube will take over a 41,000-square-foot warehouse and office. Earthbound Media will move its headquarters from Orange County to a 15,000-square-foot building where technicians assembled the cockpit for the legendary Hughes H-4 Hercules seaplane, commonly known as the Spruce Goose.
The former Hughes campus is already home to Raleigh Studios, which operates soundstages in the former hangar where the Spruce Goose was built. Paramount is filming parts of the next“Star Trek” movie there, Ratkovich said.
“The legacy of Howard Hughes really does influence people,” Ratkovich said. “People love to rub shoulders with him.”
YouTube and Earthbound plan to move in this year, Ratkovich said. Earthbound agreed to a 10-year lease, and YouTube is committed for 11 years. Ratkovich did not reveal financial terms of the deals but said he has been asking for nearly $3 per square foot per month.
“It truly is inspiring to be surrounded by a property with such great historical innovative significance,” said Blaine Behringer, managing partner of Earthbound Media.
Purchased byGoogle Inc.in 2006 for $1.65 billion in stock, YouTube is trying to turn itself into a broadcaster of premium, original content.
YouTube said it would make the Playa Vista location an extension of its Next Lab facility in New York. The Lab, as it will be called, will focus on boosting the careers of YouTube’s most popular content creators, offering them the chance to collaborate with industry experts and one another while using equipment provided by YouTube.
Once just a clearinghouse for amateur videos, YouTube in recent years began cultivating semiprofessional videographers, seeking to harness their grass-roots star power and helping them grow their audiences. Through its Partner Program, the San Bruno, Calif., company has invited more than 30,000 budding filmmakers to share in the revenue it collects from displaying ads alongside their videos.
Because videos produced by YouTube “partners” are generally higher quality and less likely to contain objectionable content, they also command higher advertising rates — seen as key to helping YouTube to reach its goal of becoming profitable. Mountain View, Calif.-based Google has not said whether the video giant is in the black.
Playa Vista is among the Westside locations now attracting businesses in creative fields such as electronic media, entertainment, technology and advertising, said real estate broker Jeff Pion of CBRE Group Inc.
“I think people want to be in an environment that stimulates creativity,” Pion said.
Ratkovich, who expects to spend about $80 million buying, restoring and improving the old Hughes property, has renovated some of the region’s best-known historic buildings, including the Oviatt and Fine Arts buildings and the Wiltern theater in Los Angeles and the Alex Theatre in Glendale.
He’s still a bit surprised at the enthusiasm some show for time-worn properties like the once-neglected Hughes campus.
“It is just amazing,” he said, “how companies prefer these industrial buildings to squeaky-clean, brand-new structures.” (credit toRoger Vincent and Alex Pham, Los Angeles Times)

Builders Most Optimistic Since 2009, For What That's Worth

2011-11-16T13:00:00.001-08:00

WASHINGTON -- U.S. homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon.

The National Association of Home Builders says its builder sentiment index rose to 20 in November. That's the highest level since May 2010 and only the second month the index has been at 20 or above in two years. The trade group cited low mortgage rates as a chief factor.

Still, any reading below 50 indicates negative sentiment about the housing market. It hasn't reached 50 since April 2006, the peak of the housing boom.

Last year, the number of people who bought new homes fell to its lowest level on records going back nearly a half-century. Sales this year could fare just as bad.

By The Associated Press Posted Nov 16th 2011

New Law For Distressed Home Sales

2011-09-14T13:50:00.000-07:00

Good news for sellers of foreclosures and short sales. The California State Legislature recently passed an Anti-Deficiency law prohibiting lenders from requiring any additional compensation, aside from the sales proceeds. Both the holder of the first loan and the second loan must agree to the provisions of the short sale. The law is effective as of July 15, 2011.

Home prices: Home prices rise 1% in June. - latimes.com

2010-08-31T17:10:00.000-07:00

Although Los Angeles Westside home prices rose a meager 1%, it may be an indication that the market in heading for a downturn. The recent expiration of buyer federal tax credits appears to be causing a slowdown in the real estate recovery. Nationally, home prices have dropped an average 27%. Typically. the Southern California market has demonstrated stronger "legs" than much of the rest of the nation, when it comes to the economy. Perhaps, the shining light in all of this is the rumblings in Congress to bring back the buyer tax credit incentives. Only time will tell if the government determines the economy needs another kick-in-the-rear to jump start the economy.

Home prices: Home prices rise 1% in June. - latimes.com

The Taste of Beverly Hills

2010-08-11T11:38:00.000-07:00

The City of Beverly Hills is putting on a four-day "Wine and Food Festival"...Taste of Beverly Hills. Top restaurants and chefs...including Wolfgang Puck...will provide a feast for attendees. The Festival runs September 2-5, 2010. Live entertainment includes a performance by Grammy Nominee, Natasha Bedingfield. For ticket purchase and more information, visit www.tasteofbeverlyhills.org/90210 or call 877.434.8624. It is guaranteed to be an exciting event

LA Westside Real Estate Market Values Rising

2010-07-24T08:21:00.001-07:00

The Westside is witnessing a tremendous resurgence in property values on every price level. With conforming and non-conforming interest rates, buyers are seeking to purchase a home. In many cases, there are multiple offers on any one property. Even the high-end market (over $2 million) is experiencing a tremendous up-turn. San Diego based Dataquick, documents the market rising approximately 15% between May 2009 and May 2010. Banks are making loans more easily available although "stated income" may be a thing of the past, if Congress has it's way. Although the loss of "stated income" will more likely impact the self-employed (ie, real estate professionals), it should have little impact on most potential buyers. The emergence of the real estate market, on the Westside, is a strong indication of a recovering economy. What will really help is the creation of more jobs and, thus, getting the unemployment rate down. It goes for saying the public purchasing power is greatly enhanced with income. It's a great day to be alive. Enjoy your day.,

Fourth of July Fireworks at the Hollywood Bowl

2010-06-24T16:22:00.000-07:00

The Hollywood Bowl celebrates America's birthday with it's "July 4th Fireworks Spectacular with the Los Angeles Philharmonic" and featuring country entertainer Vince Gill, along with a dazzling display of fireworks.

The annual spectacular happens July 2 - 4. For more information, call 323-850-2000.

Becoming Marilyn: An Historic Photography Exhibition

2010-06-24T15:32:00.000-07:00

Beverly Hills' Andrew Weiss Gallery is featuring rare, never before-seen photos by 94 year old Bill Carroll, the last living photographer of Norma Jeane. The exhibit will showcase photos spanning Marillyn Monroe's career from 1945 to 1962. The show runs now through September 18th.

The Joys of Hiking on L. A.'s Westside

2010-05-26T15:27:00.000-07:00

Hiking is a popular activity throughout the Westside's many hills and canyons. Avid trail blazers explore the Hollywood Hills East of Griffith Park, Bronson and Beachwood Canyons. The dramatic city views, Griffith Observatory and Hollywood Sign (now a part of Griffith Park).
In the Hollywood Hills West (101 Freeway divides East and West), the popular Runyan and Franklin Canyon areas provides wonderful hiking opportunities. All of these Westside hiking areas allow dogs (on a leash, of course). Pacific Palisades's Temescal Canyon (no dogs) offers tremendous hiking adventures culminating in breathtaking panoramic ocean and city views. Hiking is a great activity and excellent way to make new friends and enjoy a family outing. Check out the following sites for additional information on the wonderful system of hiking trails throughout L. A. Westside.

LATrails.com

www.lamountains.com/

Special Events and Activities on L.A.'s Westside

2010-05-14T13:51:00.000-07:00

The Westside is rich with culture and features ongoing events and activities for all-ages and interests. Here are just three to consider...

The City of Beverly Hills showcases the annual outdoors Spring art show. The "Affaire in the Gardens" takes place the weekend of May 15 & 16, 10am -6pm. It's a free show and features over 200 exhibitors of paintings, sculptures, photography, watercolor, jewelry, ceramics, mixed media, drawings and printmaking. Be sure to check out this event.

http://www.beverlyhills.org/attractions/affaire/affaire_in_the_gardens_information.asp

Brentwood's Getty Center features "Leonardo da Vinci and the Art of Sculpture: Inspiration and Invention. The exhibit focuses on da Vinci's prodigious talents in the field of sculpture. The exhibition is currently running to June 20.

http://www.getty.edu/art/exhibitions/leonardo.

UCLA's Fowler Museum and the adjacent Wilson Plaza presents "Soundsuits After Dark" May 22, 8pm - 11pm. For all-ages, it is a free night of music, art and dancing. The event includes pop-up performances by dancers dressed in "Soundsuits" which are costume-like works of art by visionary Chicago-based artist Nick Cave.

http://www.kcrw.com/events/soundsuits-after-dark.

Take the time get out and enjoy the many treasures of L. A.'s Westside.

2010 Median Sales Prices Increase Over 2009

2010-05-02T11:35:00.000-07:00

According to industry statistics, L. A. County median home sales prices are up 2010 year-to-date(YTD)over 2009. The median sales price, for single family residences, rose to $330,000 compared to $325,000 for 2009. March 2010's $340,000 median sales price bettered 2009, of $303,000. In addition, 4,465 homes sold in March, of this year, in contrast to 4,125, for March of last year.

The condominium market, however, did not fair as well. For 2010 YTD, the median sales price is $320,000. The 2009 estimate is $330,000. The good news is that more condominiums were sold in March 2010 - 1,586 - versus 1,287, in March 2009.

For more information on the rising real estate market, you can contact me john@johnrichette.com or phone or text at 310-666-2454.

Have an Exceptional Day...

Hollywood Sign Under Seige

2010-04-20T17:43:00.000-07:00

The famous Hollywood sign landmark is in jeopardy of falling to residential developers. Although located adjacent to Griffith Park, "Sign" is on privately owned Cahuenga Peak. "The Trust for Public Land" is attempting to raise $12.5 million to purchase the 138 acre Peak location, The Trust needs to raise the funds by April 30th and is still short of the goal. Please contact the Cahuenga Campaign for additional information and to make a much needed donation.

A New Blog Spotlighting L.A.'s Westside

2010-03-29T14:15:00.000-07:00

Welcome to my blog site dedicated to the events, activities and real estate on the dynamic Los Angeles Westside. For those who are not from this area, the Westside consists of the cities and communities including Beverly Hills, West Hollywood, Hollywood, Hollywood Hills, Los Feliz, Silverlake, Westwood, Brentwood, Bel Air, Santa Monica, Pacific Palisades, Palms/Mar Vista, Marina Del Rey and Cheviot Hills. Blog posts are to emphasize the wonderful quality of life available, on the Westside. With the aid of photos and videos, future blog posts are to focus on the people. places and real estate market. Your thoughts and opinions are encouraged.