A 1.73-acre development site located at 9700 W. Pico Boulevard in the Beverlywood area has sold for $24 million, CBRE\u2019s Melinda Russell and Josh Samuels announced this week.<\/p>\n
\u201cThis coveted West L.A. site represents a once-in-a-generation opportunity to develop over 200 units in a prime Beverlywood location,\u201d\u00a0said Russell in a news release. \u201cWe ran a highly targeted, confidential marketing process that generated 11 offers in just 45 days. Through strategic outreach and deep market knowledge, we were able to secure the best possible outcome for both the buyer and the seller.\u201d<\/p>\n
The property is located near both Century City and the Beverly Drive commercial corridor of nearby Beverly Hills. The buyer is an entity affiliated with BW Brody Affiliated.<\/p>\n
Here’s what we’re reading this week:<\/strong><\/p>\n Rancho Palos Verdes to ban new construction in landslide zone<\/a> “The city had enacted a similar ban on development in the landslide zone decades ago, but it was repeatedly weakened by lawsuits and exceptions. City leaders on Tuesday said that some of the homes damaged in the recent movement were among a group that fought the initial construction ban, and won approval to build in the landslide zone through a lawsuit in the early 2000s. At least five recently applied for federal buyouts, city officials said. ” (LA Times)<\/p>\n Lawsuit takes aim at key strategy to create affordable housing in California<\/a> “A 2017 report estimated that 149 cities and counties across California have some form of inclusionary zoning rule, though the specific terms vary. That makes it one of the most commonly used affordable housing programs both in California and in the country.” (LAist)<\/p>\n Macy\u2019s is out in DTLA. Coming in? A chic social club with pickleball and cold plunges<\/a> “The evolution of the downtown L.A. space follows a trend of ailing retail stores transforming into ‘experiential’ spaces.” (LA Times)<\/p>\n Mayor NIMBY <\/a>“Los Angeles Mayor Karen Bass gets a lot of unfair grief from the media and from Angelenos….But when it comes to land use \u2014 an area that the City actually has authority over \u2014 she deserves every criticism she gets.” (Legal Planet)<\/p>\n South Bay Pauses Planned Metro\/Caltrans 405 Freeway Widening<\/a> “Metro suggested that that the South Bay Cities Council of Governments be responsible for a 405 Freeway project cost overruns. The SBCCOG board declined.” (Streetsblog LA)<\/p>\n Six buildings receive landmark status in effort to preserve LA’s Black heritage<\/a> “African American Historic Places Los Angeles is a collaboration between the City of LA and the Getty Museum.” (NBC4)<\/p>\n Your streetlight went dark. Could a new tariff help?<\/a> “Trump\u2019s recent move crashed the copper market, possibly deterring wire theft” (Crosstown)<\/p>\n California EV drivers could lose their carpool lane privileges in September <\/a>“Extending the decal program in California \u2014 or any other state \u2014 would require the approval of Congress and the signature of President Trump, said Bill Magavern, policy director for the Coalition for Clean Air.” (LA Times)<\/p>\n LADOT Removing Some Peak Hour Car Lanes, Restoring On-Street Parking<\/a> “The program is reversing decades of LADOT peak hour parking removal for expanding car capacity, but the first phase doesn’t quite live up to council’s instructions supporting multimodal transportation” (Streetsblog LA)<\/p>\n Tired of waiting for the city, Angelenos paint their own crosswalks. Some become permanent<\/a> “Residents often take street safety matters into their own hands. In Koreatown, a group painted a crosswalk Saturday where a young boy was fatally hit by a car while crossing the street.” (LA Times)<\/p>\n After Decades of Use, Cyclists Lose Key Marina del Rey Bike Path Access to Sudden Wall<\/a> “This is not the first time in the 27 years since the Regatta \u2013 the oldest of the three turquoise-colored, luxury condo towers on Marina Pointe \u2013 was built that attempts to block public access to the park have been made.” (Westside Current)<\/p>\n Follow us on social media:<\/strong>\u00a0<\/p>\n Twitter<\/a>\u00a0\/\u00a0Facebook<\/a> \/ LinkedIn<\/a> \/ Threads<\/a> \/ Instagram<\/a> \/ Bluesky<\/a><\/p>\n