November 14, 2024 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Real Estate Report: Foreign investors to revitalize the Los Angeles skyline

Bess Hochman is a top Westside real estate broker of more than 20 years.
Bess Hochman is a top Westside real estate broker of more than 20 years.

By Bess Hochman

The United States is the world’s largest economy, and also a top destination for foreign investment companies. Foreign investors and investment companies are pouring money into office space, retail, and a mix of hotel and apartment buildings in Los Angeles. Foreign money comprises about 10 percent of all capital for commercial property investment in the US.

The improving health of the U.S. economy has propelled investment from many foreign pension funds as well as from foreign investors with extra money to invest here. Manhattan is seeing the biggest amount of foreign investment, with Los Angeles and Chicago close behind. Even secondary markets like Houston, Dallas and Seattle are seeing an upturn in foreign investors.

Many Asian investors find that investing in real estate on U.S. soil is the best way to diversify their portfolios. Financial experts are generally reporting the Chinese real estate market as a bubble already showing signs of deflating. In contrast to this, commercial real estate investments in the U.S. offer secure wealth-building assets that continue to show promise.

Downtown Los Angeles has seen a recent upturn in foreign investment. Many of the new properties being built will be residential and mixed-use projects. Investors and investment companies based in Asia are building many of these projects.

Downtown Los Angeles has taken a long time to recover from the economic downturn. The city of Los Angeles recently granted attractive tax breaks to a number of international developers. These were created to encourage major development. One of the mega-projects being built is estimated to generate $117 million in revenue for the city over the next 25 years.

There are a few major projects in development currently that will change the landscape of the downtown LA skyline.

First, the Hanjin Group of South Korea has started construction on the renovation of the Wilshire Grand Tower in the Financial District. When completed, it will include a 73-store hotel and office building with five levels of parking. The new building will be over one thousand feet tall, meaning that it will be the tallest building west of the Mississippi.

Near the Staples Center, a Shanghai-based developer, The Greenland Group has started construction on the Metropolis. Construction will be completed by 2016 and the finished product will include a 19-story hotel, 38-stories of residential apartments and retail and office space.

Foreign investors have played an integral part in returning the U.S. to its pre-recession prominence, as well as changing the Downtown Los Angeles area into a more diverse and booming city.

International interest in high-end commercial development in Beverly Hills is also helping fuel demand for prime luxury residential properties in the area and eye-popping prices!

For a free courtesy consultation, or information regarding mortgage brokers, contact Bess Hochman, a top Westside Real Estate Broker for more than 20 years. Bess is also distinguished by holding a law degree. This article expresses the opinion of the author. You are advised to consult attorneys and others experts specializing in the issues referenced in this article.

Contact Bess by phone at 310.291.4111 or email Bess.CenturyCityNews@yahoo.com.

in News
Related Posts

Thanksgiving Feasts and Pies and Other Fall Delights: Pre-Order Now at LA’s Top Spots

November 14, 2024

November 14, 2024

Gourmet Turkeys Sides, Holiday Pies, New Fall Cocktails For November on the Westside The Cheese Store of Beverly Hills has...

Actress Chanel Maya Banks Found in Texas, Family Disputes LAPD’s Closure of the Case

November 14, 2024

November 14, 2024

Family Questions Authenticity of Inflammatory Social Media Posts The events in the case of Chanel Maya Banks, the Playa Vista-based...

LA’s Food Access Farmers Markets Face Possible Closures, Call for Community Support

November 14, 2024

November 14, 2024

Nonprofit Seeks Monthly Donors To Continue to Offer Fresh Produce to the Underserved Food Access LA, the nonprofit organization behind...

SANTA MONICA HOTELS OFFER EXTRA BEDROOM PROGRAM FOR LOCALS WELCOMING VISITORS

November 13, 2024

November 13, 2024

SANTA MONICA, Calif. (November 11, 2024) – Santa Monica Travel & Tourism announces the return of the popular “I Wish...

(Video) What Parents Love about Vistamar’s Open House v1

November 13, 2024

November 13, 2024

Why attend a Vistamar admissions open house? Parents talk about all that you can experience when you visit. At Open...

Family Searches for Missing Actress Chanel Maya Banks; Asks For Public’s Help in West LA

November 13, 2024

November 13, 2024

Relatives Search for Chanel Maya Banks, Last Heard From on October 30 The family of an actress based on the...

Court Halts Order for Expedited Veteran Housing in West LA, Citing VA’s Budget Constraints

November 13, 2024

November 13, 2024

Former Governor Arnold Schwarzenegger Criticizes the VA on Veterans Day The Ninth Circuit Court of Appeals has temporarily paused an...

Armed Robbery in Culver City: Suspects Flee with $12,000 Rolex in Early Morning Incident

November 12, 2024

November 12, 2024

Two Suspects Targeted Man in Parking Lot, Brandishing Firearms, Demanding Valuables Culver City police are investigating an early morning armed...

Metro’s New Bus Lane Camera Enforcement Aims to Speed Up Commutes for LA Riders

November 12, 2024

November 12, 2024

Pilot Program Begins With 60-Day Warning Period to Clear Bus Lanes The Los Angeles County Metropolitan Transportation Authority (Metro), in...

Legendary Actor Tony Todd, Known for Iconic Horror Roles, Dies at the Age of 69

November 12, 2024

November 12, 2024

Star of Candyman and Final Destination Remembered by Fans and Peers Iconic actor and Marina del Rey resident Tony Todd...

LAUSD Teacher Charged with Sexual Assault on a Minor, Police Believe There May Be Other Victims

November 11, 2024

November 11, 2024

Los Angeles County District Attorney George Gascón announced on November 8 that a middle school teacher, Colleen Jo Matarico, is...

Suspect Arrested, Another at Large After Culver City Vehicle Burglary

November 11, 2024

November 11, 2024

Police Ask Public for Assistance to Aid the Investigation Early morning on November 7, Culver City Police responded to reports...

Beverly Hills High Limits Student Gatherings After Pro-Trump Rally Disrupts Campus

November 11, 2024

November 11, 2024

Principal Cites Safety Concerns Following Post-Election Demonstration Beverly Hills High School has put limits on student gatherings after a pro-Trump...

LAX Runway Closures in November May Lead to Increased Aircraft Noise for Nearby Residents

November 10, 2024

November 10, 2024

Temporary Runway Shutdowns for Maintenance and Upgrades May Alter Flight Paths Los Angeles World Airports (LAWA) has announced temporary runway...

Racist Text Messages Target Students in Santa Monica, West LA, Raising Alarm Among Schools, Families

November 10, 2024

November 10, 2024

Outrage Spreads as Disturbing, Racially Charged Messages Reach Students and Others By Dolores Quintana Schools on the Westside of Los...