RENTV’s Orange County State of the Market Conference Jan 24th 2019

RENTV’s Orange County State of the Market Conference Jan 24th 2019

Save the Date! 

RENTV’s
Orange County
State of the Market Conference    

Thursday, January 24, 2019
 
Find out why the RENTV Conferences are  
highly praised by attendees and speakers!!
 
Please join RENTV for our 4th Annual Orange County State of the Market Conference on Thursday, January 24, 2019. The conference will feature an expert line-up of speakers providing in-depth analysis of the office, retail, industrial and multifamily markets throughout Orange County. 
 
The event will kick-off with a networking breakfast at 7:15 AM and wrap up around noon.
 
The event is being held at:
Hilton Irvine/Orange County Airport Hotel
18800 MacArthur Blvd.
Irvine, CA  92612
 
7:15 AM until 12:00 Noon.

KEYNOTE

  • William A. Shopoff
  • President & CEO
  • Shopoff Realty Investments, L.P.

OFFICE

  • George Thomson
  • Senior Managing Director
  • Newmark Knight Frank
  • Anthony DeLorenzo
  • Senior Vice President
  • CBRE
  • Russ Parker
  • Managing Member
  • Parker Properties
  • John Blanchard
  • Partner, Acquisition and Asset Management
  • Greenlaw Partners

INDUSTRIAL

  • Rick Putnam
  • Senior Vice President
  • Kidder Mathews
  • CoeSen NgWun
  • Senior Manager of Acquisitions
  • Rexford Industrial
  • Jon Marchiorlatti
  • Vice President, Industrial Development and Acquisitions
  • Shea Properties

 RETAIL

  • Stenn Parton
  • Chief Retail Officer
  • DJM Capital Partners
  • Glenn Rudy
  • Senior Managing Director, Capital Markets / Retail Investments
  • Newmark Knight Frank
  • Bob Sonnenblick
  • Chairman
  • Sonnenblick Development, LLC
  • John Read
  • First Vice President
  • CBRE NRP-West

Contact

Steven Bloom
Rentv.com
310-242-8613
sbloom@rentv.com

MULTIFAMILY

  • Paul Julian
  • Principal
  • Advanced Real Estate Services
  • Brent Stoll
  • Acquisitions Director
  • Rose Equities
  • Dan Blackwell, CCIM
  • Senior Vice President
  • CBRE
  • Rob Morgan
  • Senior Vice President, Regional Development Partner
  • JPI Companies
  • Larry Perry
  • Vice President Loan Originations
  • Parkview Financial

 

Voters to Decide Fate of Gwyneth Paltrow’s Arts Club in Greater Los Angeles

A March Ballot Measure in West Hollywood May Put Social Club Project in Jeopardy

The Arts Club, which would be built on the Sunset Strip, must now be approved by West Hollywood voters. Photo courtesy of Gensler/The Arts Club.

Voters in West Hollywood, California, will decide whether the city should rescind its approval for the construction of the Arts Club, a London-based private social club backed by Academy Award-winning actress Gwyneth Paltrow that’s proposing a development designed to upgrade the Sunset Strip at the site of a retail outpost of the adult magazine Hustler.

Paltrow, an advisory board member to the London location and founder of the Santa Monica, California-based lifestyle company Goop, has been working with other investors to open the high-profile, 120,000-square-foot social club in greater Los Angeles. Critics of the project argue the site should be used to address the area’s shortage of housing.

The project is attracting attention well beyond West Hollywood partly because of the prominence of Paltrow as well as the street spanning a mile and a half that came into the national consciousness in the 1950s and 1960s with the television series 77 Sunset Strip. This section of Sunset Boulevard runs between well-known areas, connecting with Beverly Hills on the west and Hollywood on the east.

The club’s proposal, which includes a rooftop swimming pool and guest rooms, requires changes to local zoning that the West Hollywood City Council originally voted to approve this year. But following a petition and criticism from residents and a labor union, the council agreed to allow voters to decide whether they should rescind their original decision on the social club project by issuing a city measure for the March ballot.

The measure before voters is whether the resolution approving the project should be rescinded, according to Yvonne Quarker, West Hollywood city clerk. The city’s general plan and other zoning regulations would have to be amended to allow for increased height and density over what is currently allowed on the site, the city said. About 8,150 square feet of the property was zoned for multifamily residential.

The project would require demolition of the existing two-story 20,000-square-foot office and retail building, which includes a 10,000-square-foot lingerie and sex toy shop operated by Hustler Hollywood as well as offices for the Gay Men’s Chorus and the Plus Development Group involved in the Arts Club project, according to CoStar data.

About a handful of West Hollywood residents as well as members of labor union Unite Here 11 urged the City Council to put the matter to a ballot measure. More than 2,800 signatures were gathered on a petition presented by Unite Here, according to Quarker.

Elle Farmer, research analyst for Unite Here Local 11, said among the union’s issues with the project is zoning. About one-third of the land at that site was zoned for housing.

“Despite a housing crisis, that land is being rezoned for this project for a private commercial development,” Farmer said. “Now West Hollywood voters can decide whether it’s a good use of their resources.”

But Steven Afriat, chief executive of Burbank-based Afriat Consulting Group Inc., a local representative for the Arts Club, said the project has “tremendous community support” and that the proprietors welcome the West Hollywood City Council’s decision to put the project up for a vote as opposed to rescinding it.

Downtown Los Angeles-based Gensler designed the proposed project, at 8920 Sunset Blvd ., to include 14 guest rooms, screening rooms, restaurants, office space, an art gallery and a rooftop swimming pool. It will also have operational decorative glass panels as part of its design.

The Arts Club is also proposing a public benefits package that would total about $12.1 million, according to the City of West Hollywood. It would include building about 2,200 square feet of public gallery space that could also be used as a rehearsal space, and be programmed and staffed by the Arts Club for 25 years and free to the public. It would be curated in coordination with the City of West Hollywood Arts Division. The gallery space is estimated to cost $10.1 million. The Arts Club would also donate $1 million to support the arts in West Hollywood over 10 years and pay an additional cash public benefit of $1 million to the city.

Afriat said the Arts Club has also offered $1 million in traffic improvements.

The opening of the club would mark the British club’s first American outpost.

The original Arts Club dates back to 1863 as a place where men involved in the arts, literature and sciences gathered in London, according to the Arts Club website.

Bob Sonnenblick, chairman at Sonnenblick Development LLC, has stayed at the Arts Club in London which he describes as a “lovely, luxury” hotel.

“The West Hollywood design is certainly beautiful, too,” Sonnenblick said in an email. “If anything, dropping a project of that high quality here just might be too upscale for the current Sunset Strip neighborhood.”

The measures is scheduled to appear on the March 5 general municipal election ballot.

If approved, construction could take up to two and a half years to build.

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More From Bob Sonnenblick

I have actually stayed at the Arts Club Hotel in London.

It’s an unbelievably lovely, luxury hotel, located in the Mayfair district of town, one of the City’s most high-end areas…

The rooms & public areas in that hotel are gorgeous, & the service was fabulous. The West Hollywood design is certainly beautiful too.If anything, dropping a project of that high quality here just might be too upscale for the current Sunset Strip neighborhood.

In a nutshell, here is exactly what this dispute is all about:

The developer is proposing a private club. This is just like proposing a condo tower, it is not open to the public.

The opposition is the Unite Here #11 hotel workers union. They want the project to be union-employee staffed, so that their workers would be hired there…regardless of whether it is a private club or a hotel.

The private club has said that it will only hire NON-union workers to work there, once it is completed. The added cost of union worker wages and benefits is very high. Thus, the dispute.

The real truth is that The Union doesn’t truly care if it’s a private club or a public hotel.

This is only about Union vs NON-Union jobs, nothing more…

So if you are Pro Open-Shop hiring, then you like this project, as-is.

If you are Pro-Union hiring, then you don’t like this project.

Its just that simple…

IMN Hotel Development & Construction Conference Feb 25-26-2019

Press Release: New York City – Dec 3, 2018

IMN Conferences Inc. has chosen Los Angeles-based hotel developer Robert Sonnenblick, the Chairman of Sonnenblick Development LLC, to be the marquis panel moderator for their upcoming Hotel Development & Construction Conference on Feb. 25 & 26 at the Downtown Marriott Hotel in New York City.

The topic of the panel is:
Construction & Design & Operational differences between hotel brands and hotel segments…
The panel will be a discussion with industry experts on construction-cost differences and design differences and operational differences between the various brands and differing hotel market segments, such as:
Full Service vs Limited Service
Select Service vs Extended Stay
Branded vs Un-branded
Resort vs All-Inclusive
High-rise vs Low-Rise
Concrete vs Steel vs “Stick”
Hotel Garage Parking vs Surface Parking
Union vs NON-union (effects on both construction and operations)
Roof-Top Pools & Bars vs Ground Floor construction

Bob Sonnenblick to Moderate IMN Real Estate Conferences OCT 29-30 2018

Bob Sonnenblick to Moderate IMN Real Estate Conferences OCT 29-30 2018

Los Angeles-based real estate developer Bob Sonnenblick, Chairman of Sonnenblick Development LLC, has been chosen by IMN Real Estate Conferences, Inc. to moderate their upcoming LA/Southern California Hotel Update panel focusing on hotel construction, development, finance, supply and demand. The conference will be held at The Fairmont Miramar Hotel in Santa Monica on Oct 29. See www.IMN.org for info.

Bob Sonnenblick on Westfield Topanga Major Renovation

Westfield Topanga Readies for Major Renovation

$70 Million Interior Makeover is in Store
CLICK FOR PDF
By Karen Jordan
September 24, 2018
While many developers across the country are giving up on traditional malls, Unibail-Rodamco-Westfield is investing $70 million to renovate another one of its prime Los Angeles shopping centers.

The company announced this week its Westfield Topanga Mall, a 1 million-square-foot upscale indoor shopping center in the San Fernando Valley’s Warner Center area, is scheduled to be modernized with a sleeker look and updated amentities. It comes at a time when brick-and-mortar retailers are ramping up their competition for shoppers with the growing online shopping industry.

The mall is near the company’s outdoor shopping center The Village and its proposed $1.5 billion Westfield Promenade that could replace a failed mall with offices, residences, hotels, entertainment and stadium space on 34 acres at the site.

The announcement follows Westfield’s $1 billion renovation of its sprawling Westfield Century City mall unveiled last year.

The Topanga mall renovation, which is scheduled to begin this fall, is planned to focus on the mall’s interior. Plans include new dark walnut paneling, tiling, new flooring and new, eco-friendly lighting fixtures. The property’s restrooms and family lounges are scheduled to be renovated while new art work and new security cameras are added. New entertainment and restaurant options are expected to be available in the future, according to the company.

Now is the right time for the project, according to Molly Unger, vice president and general manager at Westfield Topanga.

“This is something our customers have been asking for and we think they will love the results,” Unger said in a statement.

The upgrades show how committed the mall’s owner, Unibail-Rodamco-Westfield, is to Los Angeles, according to Larry Green, executive vice president of U.S. development at Unibail-Rodamco-Westfield.

“By enhancing the destination’s design, décor, environmental sustainability and technology, we will ensure that it continues to offer one of the very best shopping experiences, not just in the local community, but in the entire country,” Green told CoStar News. “This project, in turn, will also support the city’s goals for the Warner Center and is another step towards the creation of a transit-oriented, lively downtown district with entertainment, office, housing, dining and world class shopping elements.”

Work at the mall, which houses high-end stores including Nordstrom, Louis Vuitton and Cartier, is expected to take place after business hours and not during the mall’s opening hours. The shopping mall, at 6550 Topanga Canyon Blvd. in Canoga Park, California, was built 54 years ago.

The renovation is scheduled to be completed next year.

Jay Rubin, principal at brokerage firm Lee & Associates, said that the renovations should help the mall better compete with the conveniences of online shopping.

“It’s important to modernize and provide modern amenities to get people away from their computers,” Rubin said. “I think Westfield, and any company in that business, is investing a lot of time and resources to figure out how to attract people.”

The mall is near a Metro Orange Line bus station and Warner Center shuttle, and it is located within a zone outlined in the city’s Warner Center 2035 plan, which seeks to redevelop the suburban area into a more modern live-work-play community. The plan, under review by city officials, includes more than 400,000 square feet of office, about 1,400 residential units, two hotels and a 15,000-seat entertainment and sports center.

The low-rise project has drawn criticism from local residents who worry about congestion and construction. But others praise its plans for mixed-use design and walkability.

“The plan is a fabulous concept,” said Bob Sonnenblick, principal of Sonnenblick LLC, who is knowledgable of hotel projects in the area. “I actually think it’s going to become a wave of the future and how large projects are going to be looked at, approved and designed.”