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Real Estate - Page 2 of 9
Dulan’s Soul Food Recognized as Best Small Business by U.S. Chamber of Commerce
November 19, 2020
Dulan’s Soul Food kitchen runs like a well-oiled machine. From sunrise to sunset, there is an ongoing preparation assembly line generated for the daily demand for the award-winning comfort food this legendary, Black-owned family restaurant has built its reputation on for decades.  ... read more »
Property Tax Increase Initiative Proposition 15 Defeated
November 12, 2020
Supporters conceded defeat of a union-backed initiative that would have resulted in higher property taxes for commercial and industrial property to provide additional funding for local governments, schools and community colleges. ... read more »
Historical Barriers and Structural Inequalities Still Account for Black-White Homeownership Gap
November 12, 2020
NAREB 2020 State of Housing in Black America (SHIBA) report shows how uneven mortgage lending practices, cumulative disadvantages and COVID-19 continue to obstruct growth of Black homeownership ... read more »
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L.A. County Moves to Buy Up Eight Motels for Homeless Housing
October 29, 2020
The Board of Supervisors voted today to approve funding for a range of new housing projects, including the acquisition and conversion of eight motel properties to apartments for formerly homeless residents under the state's Project Homekey. ... read more »
LIVWRK DEVELOPMENT TO BUY BALDWIN HILLS-CRENSHAW MALL
October 22, 2020
Asher Abehsera, founder and CEO of LIVWRK, talks candidly about his purchase of the mall, his commitment to community inclusion, his partnerships with CIM and the Kushner Family. Abehsera wants people to understand he is not from New York. In fact, he was born and raised right here in Los Angeles. He explains he grew up in the Pacific Pan Park area (Fairfax District), and his first job was at a gas station on La Brea at the age of 15. Abehsera’s mother is fifth generation Angeleno and his father is of Moroccan (North Africa) decent, and has spent his entire life embracing the diversity and multi-cultural lifestyle he grew up a part of. ... read more »
CDC Greenlights Evictions Despite Continued Pandemic
October 22, 2020
Landlords can resume eviction proceedings after the Centers for Disease Control and Prevention issued clarifications to a previous executive order from President Donald Trump. A study conducted by Harvard University’s Department of Housing Studies revealed that half of Americans who rent are either severely rent-burdened or moderately rent-burdened. For African Americans and Hispanics, researchers at Harvard determined a triple pandemic for those communities. Black and Hispanic households were “much more likely to contract COVID-19, suffer lost income, and face housing insecurity as a result of the pandemic,” the researchers concluded. ... read more »
LA Clippers get final city approval to build Inglewood arena
September 8, 2020
The Los Angeles Clippers have received final approval from Inglewood’s city government to begin construction on their new arena next summer. ... read more »
Blacks in California Split Over Vote That Could Raise Some Property Taxes
July 23, 2020
The initiative has caused proponents and opponents in the Black community to draw battle lines. Each side has dug in, pointing to the benefits or the dangers of Prop 15 in opposing efforts to win the hearts, minds and votes of African Americans and other Californians. If passed, Prop 15 would overturn Prop 13, a provision that has for 42 years now placed a hard limit on how much tax can be assessed on any property in the state.  ... read more »
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Local Cities Should Support Affordable Housing Owners
July 2, 2020
As of 2019, the population of individuals experiencing homelessness has skyrocketed to 58,936 people in Los Angeles County alone. The homeless population in California reached 151,000 last year. The median price of a home in LA County was over $600,000 in 2019, and the average rent for a one bedroom was almost $2,000. ... read more »
Local civil rights leaders protest to stop CIM from purchasing Baldwin Hills Mall.
June 11, 2020
Local civil rights organizations protested in front of the Baldwin Hills Mall to send a message to CIM that they do not approve their purchase of the plaza. Recently, CIM bought the plaza and the community is concerned about what their plans are. ... read more / view gallery »
New Rule Could Deny Black Developers Access to $4 Billion-Plus in State Housing Funds 
May 28, 2020
African American developers across California are worried about a rule change the state Department of Housing and Community Development (HCD) is considering. ... read more »
Baldwin Hills Crenshaw Plaza Sold; Residential Redevelopment Plan Scrapped
April 29, 2020
Developer/investment firm CIM Group announced today it has reached a deal to purchase Baldwin Hills Crenshaw Plaza and will scrap a redevelopment plan that included a mix of residential and commercial space. ... read more »
ALERT: Low Income Housing Available
April 15, 2020
Los Angeles – Florence Mills Apartments will have 74 residential units, approximately 5,000 square feet of retail, and one level of subterranean parking containing 75 parking spaces. ... read more »
Fair credit denials limit wealth-building for Black consumers and businesses
March 19, 2020
For much of Black America, access to fair and responsible credit has been an elusive promise. Whether as consumers seeking the pride of homeownership or businesses seeking to begin or expand, securing credit remains an age-old, arduous and often frustrating pursuit – despite a slew of federal and state laws enacted to overcome these long-standing racial disparities. ... read more »
Clippers Owner Steve Ballmer Close to Owning the Forum
March 5, 2020
Los Angeles Clippers owner Steve Ballmer is in advanced negotiations to purchase The Forum in Inglewood from Madison Square Garden, multiple sources say. The move could possibly bring the franchise much closer to constructing their own arena. ... read more »
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