LA millennials have the lowest rate of homeownership in the nation

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Less than 18 percent of young adults own across the metro area

It’s become common knowledge lately that millennials are too busy chowing down on avocado toast to enjoy the benefits of homeownership, but members of the youthful generation are stuck renting more often in some areas more than others.

As it turns out, there may be no worse place to be a millennial looking to buy than Los Angeles. According to a new study from rental website Abodo, the metro area has the very lowest rate of homeownership among adults under the age of 35 in the nation.

While just over half of millennials own homes in the Ogden-Clearfield, Utah area—first place of the 135 cities surveyed in the study—just 17.8 percent of young adults in LA can say the same. The remaining 82.2 percent of LA millennials (who don’t live with their parents) are stuck paying rent.

Further discouraging to young home shoppers: with median home prices around $560,000, saving for a house in LA can be a truly monumental task. Abodo estimates that, assuming that prospective buyers are able to put aside 15 percent of their earnings a month, it will take the typical LA millennial more than 32 years to save for a hefty 20 percent down payment of $112,033.

Other urban areas, such as San Jose and San Francisco, require higher down payments, but young people also tend to earn more in those cities.

Obviously, predicting the time it will take to save for a down payment can be tricky because housing costs are bound to fluctuate over time, and many millennials will earn more as they grow older. Still, the estimate does help to illustrate why many younger renters won’t be opting out of their lease any time soon.

The data Abodo used to determine rates of homeownership among millennials comes from the U.S. Census Bureau’s 2015 American Community Survey. According to those statistics, about 32 percent of millennials nationwide own their own homes.

Theatre at Ace Hotel: A video tour

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The historic venue was once one of LA’s most glamorous movie houses

The Downtown Los Angeles outpost of the trendy Ace Hotel chain opened just three years ago, but it has already become something of a local institution, providing an impressive backdrop for countless Instagram posts from tourists and Downtown residents alike.

But the Broadway building that the hotel is housed in has been making its mark on visitors for nearly 90 years. It opened at the end of 1927 as the United Artists Theatre, a flagship venue for the United Artists film studio founded by Golden Age Hollywood icons Mary Pickford, Douglas Fairbanks, Charlie Chaplin, and DW Griffith.

The building was designed by architect C. Howard Crane, who modeled the opulent theater after Spain’s Gothic-style Segovia Cathedral. In its early heyday, the theater was one of the most awe-inspiring venues in the nation, with ornate metalwork, vaulted ceilings, carved columns, and a towering dome above the auditorium.

Elaborate murals depict United Artist’s founders and silent stars of the day, as well as heroic-looking nude figures alleged to be modeled after the studio’s board of directors.

Like many of Broadway’s historic movie houses, the theater had stopped showing movies by the 1990s, eventually becoming a church (hence the glowing “Jesus Saves” sign atop the building).

When the Ace Hotel moved in, the theater was completely restored, with reupholstered seating, new carpeting, and LED lights to highlight the showroom’s spectacular dome. It was also renamed as the Theatre at Ace Hotel.

Today, the theater serves as a multipurpose venue, hosting regular concerts and live performances. It’s also once more a place to see movies—occasionally. Most recently, the LA Conservancy’s Last Remaining Seats film series brought classic silent film Wings to the venerable movie palace.

Los Feliz Spanish-style with sweet guest house seeks $2.1M

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A striking staircase and a bold color choice in the kitchen

Located between Los Feliz and Griffith Park boulevards, this Spanish Colonial Revival-style pad is in a fantastic, high-rent nook of the city, and, according to the listing copy, offers both privacy and views of the neighboring hills.

The three-bedroom, three-bathroom residence holds a stately entryway staircase, coved ceilings, wood floors, and a vibrant kitchen with cobalt blue cabinets and a patterned tile backsplash.

Fun colors aren’t just confined to the kitchen: At least two of the bathrooms contain what looks to be original tile in yellow and teal, respectively.

The house’s living area opens to a courtyard and the backyard beyond. Sharing the lot with the main house is an adorable, possibly unpermitted guest house with its own bedroom, bathroom, and kitchenette.

The property is listed for $2.095 million, and after 19 days on the market, it’s accepting back-up offers.

State bill could provide $98M in funding for the LA River

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It’s awaiting the governor’s signature

The California State Legislature approved a budget bill Monday that, if approved by Governor Jerry Brown, would provide $98 million in funding for projects along the LA River.

The money will be divvied up evenly and distributed to the Santa Monica Mountains Conservancy and the San Gabriel and Lower Los Angeles Rivers and Mountains Conservancy. The two state-run organizations oversee wildlife protection, education, and recreation along the upper and lower portions of the river.

The bill does not outline any specific projects to be funded, but does mandate that the money be spent on the river (and not any of its tributaries), and that a total of $13 million be allocated toward projects approved by both conservancies.

River revitalization advocates River LA and Friends of the Los Angeles River expressed excitement about the new funding in a joint statement. FoLAR Executive Director Marissa Christiansen noted that the money is set to arrive “at a pivotal moment in the River’s history,” as local leaders plan for restoration projects and development along the 51-mile body of water.

In March, the city of Los Angeles completed the $59.3 million purchase of a 41-acre parcel of river-adjacent land in Cypress Park. The plot is considered a key element of a U.S. Army Corps of Engineers-led plan for the revitalization of an 11-mile stretch of river that stretches from Griffith Park to Downtown LA.

Meanwhile, architect Frank Gehry continues to work on a rather secretive master plan for the entire river. Last year, River LA released an online index detailing some of Gehry’s research and findings related to the project.

As for the state funding, the Santa Monica Conservancy hasn’t responded to an inquiry about how it would use the money and Rivers and Mountains says it has projects in the works in Long Beach and South Gate, but it didn’t provide specifics.

Highland Park mini Craftsman asks $625K

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That’s more than twice what it sold for in 2012

Here’s a cozy little Craftsman in Highland Park built in 1912 and updated over the years. It home certainly offers curb appeal, with a neatly trimmed lawn and a stone walkway leading to a large front porch.

The home contains two bedrooms and one full bathroom, with just 816 square feet of living space, though that may not include an upstairs den, which is equipped with a second bathroom. Per the listing, this space was added by a previous owner—presumably without permits. It may not be strictly legal, but it does offer some nice possibilities for future owners.

Living room with stone fireplace
Living room windows

Interior features of the residence include a stone fireplace, built-in shelving, and wide windows that look to be original.

Bedroom
Stairs leading to den

The house sits on a 6,014-square-foot lot with a large backyard and a storage shed. It last sold in 2012 for just $285,000. As a sign of how hot the neighborhood has become, it’s now asking $625,000.

Los Angeles Football Club stadium in Exposition Park underway now

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When complete, the stadium will include 22,000 seats

While all eyes are on the spacey Lucas Museum of Narrative Art that’s in the process of touching down in Exposition Park, a brand new, $350 million Banc of California Stadium is quietly and steadily being built on the former site of the Los Angeles Memorial Coliseum.

The Gensler-designed soccer stadium—the future home of the Los Angeles Football Club—is not the only stadium underway or in the planning stages in Los Angeles, but it stands out among the crowd.

Its sleek, open-air design will be paired with fancy, high-end perks. “We are designing this project with NFL-type amenities,” design director Jonathan Emmett tells Los Angeles magazine. Translation: There will be retail galore, exclusive private suites, and a rooftop bar for all the soccer hooligans.

Folks can check in on some live cameras documenting the goings-on at the site, but the stadium’s Instagram is also doing a good job keeping track of the progress on the stadium, which has been scheduled to open in time for the LAFC’s 2018 season.

A view from the Figueroa Club. #LAFC

A post shared by Banc of California Stadium (@bancofcaliforniastadium) on Jun 21, 2017 at 1:40pm PDT

The venue is rising on the grave of the Los Angeles Memorial Sports Arena, which once hosted Madonna, Michael Jackson, and Bruce Springsteen, who famously called the place “The Dumps That Jumps”).

The North End Supporters’ Section, the future home of @lafc3252. #LAFC

A post shared by Banc of California Stadium (@bancofcaliforniastadium) on Jun 21, 2017 at 1:38pm PDT

@bancofcaliforniastadium, our home in the heart of Los Angeles. #LAFC

A post shared by Los Angeles Football Club (@lafc) on Jun 15, 2017 at 9:35am PDT

Rendering ➡️ Reality

A post shared by Banc of California Stadium (@bancofcaliforniastadium) on Jun 19, 2017 at 4:20pm PDT

Former home of ‘Golden Girl’ Rue McClanahan asking $5.5M in Encino

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On 2.6 acres, the Country Colonial was designed by Playboy Mansion architect Arthur Kelly

Fresh on the market in Encino’s affluent Royal Oaks neighborhood is the former home of late actress Rue McClanahan, best known for her portrayal of man-eating Southern belle Blanche Devereaux in NBC’s long-running sitcom The Golden Girls.

According to public records, the TV star acquired the property for $1.35 million in 1988. Built by Playboy Mansion architect Arthur Kelly in 1951, the Country Colonial-style home’s interiors were given a recent overhaul by designer Nick Berman.

Per the listing, the single-story residence contains four bedrooms, six baths, a living room with wet bar, a skylit dining room, a music salon, an office, a gym, and home theater within its 5,368 square feet.

But the 2.61-acre property’s strongest selling point might be its lush and verdant grounds, on which you’ll find a grotto-style pool and spa, a “custom waterfall/creek,” an outdoor kitchen, a children’s playground, a basketball court, a gazebo with pool table, and a “large kennel with dog run.”

The gated property is listed with an asking price of $5.495 million, and open house is scheduled for 11 a.m. to 2 p.m. and 5 to 7 p.m. Tuesday.

City Councilmember pushing for infrastructure upgrades around Sixth Street bridge

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The changes are meant to improve accessibility at an accompanying park

Construction on the Sixth Street Viaduct replacement is moving (slowly) along, and Los Angeles City Councilmember Jose Huizar is taking steps to prepare for its arrival.

Huizar submitted a motion Friday (spotted by Urbanize LA) calling on city staffers to research the possibility of burying overhead power wiring to “reduce visual blight” at the 12-acre public park planned beneath the bridge.

Huizar also notes in the motion that the areas on either side of the bridge have historically been used for industrial activities and have little pedestrian infrastructure in place. The councilmember says “significant infrastructure upgrades,” including the installation of new sidewalks and street lights will make the park welcoming for visitors.

The bridge and park will have big shoes to fill, replacing the historic Sixth Street Viaduct, one of the city’s most beloved landmarks. Constructed in the 1930s, the viaduct appeared in countless films and television shows, but had to close in 2015 after officials found it to be seismically unsafe.

While construction on the new bridge got underway last year, the accompanying park is still a work in progress.

The park will feature athletic fields, playground and fitness equipment, a public art and performance area, walking and bike paths, a dog park, and a community building.

The $23-million project is still in the environmental review phase, but is expected to be complete by the time the bridge opens to the public in 2020.

West Hollywood design committee endorses Robertson Lane project

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The development incorporates a historic site with ties to the gay rights movement

The Robertson Lane project in West Hollywood is winning favorable reviews from the design review subcommittee of the city’s planning commission as well as some residents, WeHoville reports.

The hotel and retail project would transform a section of La Peer Drive, just south of Santa Monica Boulevard, incorporating the historic The Factory, the former home of a disco club with ties to the gay rights movement (one of the country’s first big fundraisers for AIDS research was hosted there).

As WeHoville notes, the subcommittee met Thursday with two of three of its members supporting the design. (The dissenter, commissioner John Altschul, compared it to an “uncooked omelet.”)

Design review committee meetings are not usually hot-ticket items, but this one saw an impressive turnout of more than 20 attendees. About a dozen of them spoke on this project, “each signaling his or her support,” WeHoville says.

Representatives for the Los Angeles Conservancy and the National Trust for Historic Preservation—which once listed The Factory on its Most Endangered Places in America list—spoke in favor of the project’s design and its reuse of the historic nightclub.

If ultimately approved, the project would create a cut-through pedestrian plaza that would connect La Peer to Robertson Boulevard and add a 242-room hotel and space for stores and restaurants along the street. It would also involve taking apart The Factory and putting it back together in a different location on the site.

It is being developed by Faring (formerly, Faring Capital) and designed by the Culver City firm Hodgetts + Fung Design and Architecture.

Correction: An earlier version of this article incorrectly said the project was endorsed by the planning commission. It was supported by the design review committee.

Magnificent midcentury modern by Rodney Walker available for lease in Sherman Oaks

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Monthly rent is $10K

Though the brilliant Rodney Walker is believed to have built more than 75 homes during his career, including Case Study Houses 16 through 18, frustratingly, only about 35 have been identified. Of those, a not-insignificant number have been demolished or altered beyond recognition.

Thankfully, the spectacular Asher Residence in Sherman Oaks suffered no such fate, and today appears much the same as it did when Walker completed it in 1950.

Located just below Mulholland Drive on a private road off Beverly Glen, the two-story home is a symphony in redwood, glass, and stone. Its upper level is devoted entirely to a master suite with private bath, and expansive roof deck offering 180-degree views. The lower level contains two bedrooms, three baths, an office, an open-plan living/dining area, and a laundry room.

Among the noteworthy features of the well-preserved residence are a brick fireplace, artfully designed light panels, built-in furniture and shelving, an accordion-style room divider, and swiveling windows.

On a .46-acre lot with mature trees and manicured gardens, the Asher Residence is now available for lease, furnished, at a monthly rent of $10,000.

 Julius Shulman/J. Paul Getty Trust/Getty Research Institute Los Angeles (2004)
The exquisite residence was once photographed by Julius Shulman
 Julius Shulman/J. Paul Getty Trust/Getty Research Institute Los Angeles (2004)

Santa Monica Twilight Concert crowds have safety officials worried

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A show Thursday drew around 60,000 spectators

Throngs of spectators packed Santa Monica Beach Thursday night for the first of eight shows in the city’s popular Twilight Concert Series. The free performances have become some of the most popular seasonal spectacles in the Los Angeles area, but police and fire officials tell the Santa Monica Daily Press that they’re also a serious safety hazard.

Brooks says that police and fire officials were not equipped to handle the enormous crowd that attended Thursday’s performance—possibly the most well-attended show since the concert series began in the 1980s.

The concert began at 7:00 p.m., and by 7:11, the Santa Monica Police Department was already instructing visitors to “avoid the pier due to overcrowding.” After the show, headliner Khalid tweeted out an estimate that 60,000 people had attended the concert.

SMPD Chief Jacqueline Seabrooks tells the Daily Press that number is close to official estimates, and that allowing a crowd of that size to gather around the pier is “irresponsible.”

As the concerts have grown in popularity, some city officials have become concerned about their viability. This year, to address rising costs, the number of concerts was trimmed from 10 to eight, while concert organizers sought to rely more on private security, rather than higher-paid police officers.

In 2014, city officials estimated that the most popular concerts were drawing up to 30,000 spectators and the council approved a series of measures aimed at reigning in crowd size and reducing illegal activities like drinking and smoking on the beach.

But two years later, City Manager Rick Cole indicated in a blog post that the extension of the Expo Line and the opening of the Colorado Esplanade had contributed to record crowds at the summer concerts.

According to the Daily Press, Brooks has requested assistance from the Department of Homeland Security to create a plan for security at the concerts. She says that after attending attending Thursday’s concert, DHS experts “were not happy with what they saw.”

Charming midcentury in La Cañada Flintridge asks $899K

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It’s on the market for the first time in five decades

This wonderful midcentury residence in La Cañada Flintridge is making its first foray onto the market in over five decades, according to the listing.

Built in 1955, the 1,340-square-foot residence has two bedrooms, one full bathroom, and one three quarter-sized bathroom. An additional den could be used as a third bedroom.

Kitchen with blue cabinets
Bedroom with vaulted ceiling
Den with hardwood floors

The little home sits on a nearly 9,000-square-foot lot with a grassy front lawn and a pair of tall palms standing guard near the main entrance.

Front of house with driveway

Interior features include hardwood floors, walls of glass, a vaulted ceiling, and a stone fireplace in the living room. The kitchen appears to have been updated a bit over the years, but retains era-appropriate tile counters and an electric coil stovetop. The powder blue-colored paint job leans into the vintage aesthetic.

Covered patio

Behind the home is a small backyard with some slightly quirky features, including a very singular covered patio with an interesting Streamline-style design.

Asking price is $899,000.

Wilshire Grand: Photos of LA’s tallest tower on its opening day

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LA’s tallest skyscraper is now open—take a look around

The Wilshire Grand Center, which soars to a height of 1,100 feet, opened its door to the public for the first time Friday. There were speeches, parties, and a public light show to commemorate the 73-story tower, which, thanks to its decorative spire is now the tallest tower west of the Mississippi. (It edged out the U.S. Bank Tower for that title, one it had held since 1989).

Located at Wilshire Boulevard and Figueroa Street in Downtown LA’s Financial District, it stands out because of that spire—the first one built on a Downtown skyscraper since the 1970s—and its light-up spine.

Developed by Korean Air, the skyscraper took three years to build, starting in 2013 with the razing of the original Wilshire Grand, a hotel renamed from the struggling Statler Hotel. A new InterContinental Hotel, with 889 rooms, was incorporated into the new tower, above office space. For the public, there’s a rooftop bar on the 73rd floor and restaurants on the 71st.

Korean Air’s CEO is a USC graduate, and, according to the Los Angeles Daily News, at Friday’s ribbon-cutting, he said, “LA is my second home. I’ve long dreamed of giving back to this beautiful city.”

If you didn’t get an invite opening festivities, plenty of other people were there to document it for you. Take a look at their photos below.


The lobby of

#lobby #fullscale #artwork #dohosuh #la #globetrotting

A post shared by globetrotting (@flyingspunky) on Jun 24, 2017 at 6:43am PDT

#wilshiregrand #acmartin

A post shared by Michelle Sterling (@msterling) on Jun 23, 2017 at 11:13am PDT

A post shared by Stephen Levey (@leveyangeles) on Jun 23, 2017 at 9:32pm PDT

Grand opening of the West Coast’s new tallest #dtla #inviteonly

A post shared by dinojohns (@dinojohns) on Jun 23, 2017 at 4:43pm PDT

Lobby of new InterContinental LA Downtown #hotel #design #la #dtla #travel

A post shared by Chris McGinnis (@chrisjmcginnis) on Jun 23, 2017 at 4:08pm PDT

Views from the 72nd floor. #tallestbuilding #WilshireGrand #hotels #ihg #DTLA

A post shared by Valli Herman (@veryvalli) on Jun 23, 2017 at 9:54pm PDT

Been waiting for this moment grand opening

A post shared by July (@j_ccesar) on Jun 23, 2017 at 8:41pm PDT

AIA|LA 2017 restaurant design winners announced

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The best designed restaurants, cafes, and night clubs

The Los Angeles chapter of the American Institute of Architects (AIA|LA) awarded design honors Friday to local restaurants, cafes, and night clubs.

“Sometimes people don’t think restaurant design is that important,” designer Barbara Lazaroff said in announcing the winners. “You only understand how important it is when it doesn’t work. Somehow when it works, it just flows, and it’s great.”

The five winners were selected from nearly 70 entries by a three-member panel comprised of Los Angeles Times writer Lisa Boone, architect Aaron Neubert, and restaurateur Caroline Styne, who owns Larder Baking Company and Tavern.

Below, we’ve compiled images from the stunning winners, along with excerpts from the jury’s comments, provided by AIA|LA. (Not included below is Design, Bitches, one of the winners, whose beautiful pink and white project, Little Octopus, is based in Nashville.)


Break Room

 Dylan & Jeni
This 80s-themed nightclub, filled with old TVs and boomboxes, was designed by Houston Hospitality.

Jury comments: “This one stoked me the most in terms of, not only the décor, but the interactive aspect of it for the guests. Going in there and being able to immerse yourself in this idea of the break room and the karaoke and the music: it almost felt more authentic in its craziness.”

Beer Belly

 Monika M. Armstrong
The Long Beach outpost of the popular Koreatown gastropub was designed by MAKE architecture, which played on the city’s nautical history and took full advantage of a slew of wood slots that already existed in the space.

Jury comments: “The wood work is so graphic and so strong. It really has a big impact without going over the top in terms of décor and design.”

Little Ground Cafe

 Christopher Warren
WORD created a neighborhood hangout in Glendale using a lot of wood and concrete.

Jury comments: “We responded positively to the graphic sensibility of the wood screen, and also the urban and social engagement of the corner.”

Cassia

Montalba Architects masterfully created two spaces within an old Art Deco bank building: a vibrant marketplace that transitions to a quieter, intimate dining room.

Jury comments: “This is just a purely beautiful space. The ceiling heights, the textures, the surfaces, the layout are super inviting. It feels serious yet fun, big and modern, yet intimate.”

Salazar

 Darcy Hemley
Converted from an auto body shop, this lively taco spot designed by Project M+. and The Yard is located next to the LA River.

Jury comments: “We love that, at a time when everyone is repurposing things, the reuse of the building was wonderful. It really engages the neighborhood … The idea of the restaurant as a landscape, as a garden, resonated. “

Outpost Estates residence laden with LA art, architecture history asking $2.5M

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Formerly the home/gallery of art collectors Walter and Louise Arensberg and noted art dealer Earl Stendahl

You might want to have a broom and dustpan handy, because this listing has a lot of names to drop. Los Angeles Historic-Cultural Momument #994, the Outpost Estates home was designed by William Lee Woollett, architect of the Rialto and Million Dollar Theaters, in 1921.

From 1927 to 1954, the Mediterranean-style residence was owned by Walter and Louise Arensberg, major collectors and patrons of modern art. According to the property’s historic-cultural monument application, the Arensbergs used their home “as both a gallery for their massive collection and a salon where many of the great modern artists and writers would gather and exchange ideas.” Notable attendees of these salons include Marcel Duchamp, Man Ray, Beatrice Wood, Edward Weston, Jackson Pollock, and Mark Rothko.

Along with modern art, the Arensbergs also supported modern architecture, commissioning various additions to their home over the years from Henry Palmer Sabin, Richard Neutra, Gregory Ain, John Lautner, and Henry Eggers.

After the Arensbergs died, their friend and neighbor, art dealer Earl Stendahl purchased the property and turned it into an extension of his Wilshire Boulevard gallery. Though Stendahl died in 1966, his family kept his namesake galleries operating until very recently.

Per the Stendahl Galleries website, its current owners are relocating to Mendocino County; thus, the Arensberg-Stendahl home-gallery is now available for the first time in over six decades.

Per the listing, the 5,612-square-foot residence features five bedrooms, five baths, high ceilings, three fireplaces, French doors and windows, balconies, built-ins, and lush landscaping.

On a .34-acre lot, the Mills Act property is listed with an asking price of $2.5 million. Open house is scheduled for 2 – 5 p.m. on Sunday.

7065 Hillside Ave [Coldwell Banker]

Matthew Perry lists sleek Sunset Strip pad for $13.5M

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An infinity pool and shimmering city views

Those Friends residuals must be hefty. Matthew Perry owns a midcentury stunner in the exclusive Bird Streets pocket of the Hollywood Hills, and he just listed it for $13.5 million.

The Los Angeles Times suggests the actor isn’t holding onto the place, because he’s spending a lot of time outside of LA while working on the play The End of Longing, which he wrote and stars in.

His house has been updated with an infinity pool, screen room, and contemporary fixtures. But the walls of glass and blended indoor/outdoor spaces look to be holdouts from 1962, when the home, located above the Sunset Strip, was constructed. It comes in at three bedrooms and five baths, and from the living room, you can see straight out over the city and to the bay.

 
 
DMS