ACTION Apartment Association

Macerich to return Santa Monica Place mall to lenders

06/14/2024 8:40 AM | Margaret Fulton (Administrator)

Locally-based shopping mall behemoth Macerich Co. has defaulted on the $300 million mortgage loan it has for the Santa Monica Place, ultimately returning it to the lender and bidding farewell to the iconic shopping mall it has owned since 1999.

“It was pretty clear that Santa Monica has continuing issues and it is under water,” Scott Kingsmore, Macerich’s chief financial officer and treasurer told WWD. According to that publication, the broker valuation for Santa Monica Place is in the region of $264.5 million. “Ultimately, trying to figure out the end game was just too obscure,” Kingsmore said.

Judge Rules Against Landlord In Highly Anticipated LA Mass Eviction Case

06/13/2024 2:52 PM | Margaret Fulton (Administrator)

n a highly anticipated decision that could have broad implications for renters across California, a federal judge has ruled against a landlord seeking to carry out one of the largest mass evictions in Los Angeles history.

The judge’s determination means more than 100 tenants still living at Barrington Plaza — a 712-unit West L.A. high-rise apartment complex — will get to stay. Some long-term tenants pay far below market rates due to the city’s rent stabilization ordinance, and feared they would not be able to find affordable housing anywhere in the region if forced to leave.

Council Nixes Investigation into Leaks Before Setting Procedures

06/13/2024 10:35 AM | Margaret Fulton (Administrator)

A deeply divided City Council on Tuesday voted to create clearly defined policy and procedures for leaked closed session items, but stopped short of launching an investigation.

Council Could Require Developers Provide More Shade

06/13/2024 10:31 AM | Margaret Fulton (Administrator)

The City Council on Tuesday voted to explore requiring those who build on private land to replace every tree removed with three new trees.

Homeless Deaths Spiked in Santa Monica Last Year

06/11/2024 11:16 AM | Margaret Fulton (Administrator)

The death toll would spike over the two-year period, from 31 homeless deaths in 2022 to a total of 53 last year -- or an average of one per week, according to data from the Los Angeles County Department of Medical Examiner.

SM.a.r.t. Column: Shape Up – On Steroids

06/10/2024 11:08 AM | Margaret Fulton (Administrator)

Now, in what would seem to be about nine years late, the city has formed an Adaptive Re-use Technical Working Group to study…adaptive re-use. Perhaps some of our earlier observations and concepts can find their way into whatever net result may evolve, though state allowances will almost certainly continue to push developers to maximize building, with little regard to livability or the environment and with return on their investment their only motivation.

Council to Consider Investigating Leaks

06/10/2024 11:00 AM | Margaret Fulton (Administrator)

The item on Tuesday's agenda directs staff to return with proposals to investigate "recent leaks of confidential information" from closed door discussions between Councilmembers and top City officials.

A source familiar with the issue said the item centers on pending litigation after the City failed to accept signatures gathered for a ballot initiative to amend Measure GS ("Proponents of Ballot Measure to Amend GS Threaten to Sue City," May 10, 2024).

Opinion: Sometimes we get it right by Charles Andrews

06/05/2024 11:57 AM | Margaret Fulton (Administrator)

It’s so wrong that our Council leaders over the decades have not focused on home ownership (generational wealth building), keeping longtime Santa Monicans in their homes, and owning those homes, instead of only the quick fix of rent control, that keeps people renters-not-owners for life. And also, not incidentally, makes for a political party (SMRR) with an iron grip on things.

SMPD gains four new officers

06/05/2024 11:55 AM | Margaret Fulton (Administrator)

The fiscal year 2024-25 proposed budget study session in Tuesday’s City Council meeting generated nearly three hours of discussion that was ultimately dominated by a trade off between a number of Capital Improvement Program (CIP) items, such as essential sidewalk maintenance and CCTV camera upgrades, in favor of adding four additional police officers in addition to its full quota.

Rent Board to Make Another Appointment

06/05/2024 11:48 AM | Margaret Fulton (Administrator)

Capping an extraordinarily low-key recruitment effort, candidates for a vacant seat on the Santa Monica Rent Control Board have until noon Wednesday to file an application.

The applicant chosen -- marking the fourth appointment to the five-member board in two years -- would become the front-runner in the race to fill two open seats in November.

The open seat was held by Lonnie Guinn, who resigned a year and a half after being appointed to the Board in January 2023, making him the fourth Commissioner to be initially appointed.