Looking back on the biggest real estate stories of the year in the Century City-Westwood area
As 2022 comes to a close, here are the top 10 real estate stories for the Century City-Westwood area.
Creative Artists Agency to Move Into 26-Story Century City Tower Under Construction
January 21, 2022 – Creative Artists Agency (CAA) has announced it will be moving into a 26-story tower under construction. Full article here.
Six-Story Development Planned for Veteran Avenue
March 5, 2022 – Westwood has a new residential development on the horizon with the planned six story, 26 unit Westwood West project. Full article here.
UCLA Expands Housing Guarantee for Undergraduates
March 22, 2022 – Beginning in the fall of 2022, UCLA will guarantee up to four years of housing in university-owned residences for incoming freshmen and two years for transfer students. The move fulfills a long-held aspiration that campus leaders first articulated in a student housing master plan in 1986. Full article here.
French-Based Owners of Westfield Mall Chain to Sell American Properties
April 22, 2022 – French company, Unibail-Rodamco-Westfield (UWR) is going to sell all of its mall properties in the United States to concentrate on their European properties. The 24 malls will be sold over the next two years. Full article here.
New Master Plan for VA’s West L.A. Campus Will Provide Over 1,000 Units of Housing Veterans
May 10, 2022 – As part of the Department of Veterans Affairs’ efforts to end Veteran homelessness, Secretary Denis McDonough last month released Master Plan 2022 detailing plans to aid homeless and other at-risk Veterans and their families at the VA Greater Los Angeles Healthcare System. Full article here.
Redevelopment Complete of Former Westside Pavilion Macy’s
June 24, 2022 – Developer HLW, on behalf of GPI Companies and in partnership with Del Amo Construction, has announced the completion of West End, a $180 million total adaptive reuse project of the former Westside Pavilion Macy’s department store. Full article here.
First Republic Bank Signs One of Biggest Leases of Year in Century City
July 23, 2022 – In Century City, First Republic Bank has signed one of the biggest leases in 2022 so far in a bid to grow its presence in the area. Full article here.
Permanent Homeless Shelter Slated for West LA Armory
August 19, 2022 – A permanent homeless shelter with 167 beds is being planned at the West LA Armory. Full article here.
Developer Plans 136 Units of Housing Near Expo-Bundy Station
September 16, 2022 – A new development could be on the way near the Metro Expo/Bundy station in the future if the plans that Carmel Partners have in store are approved. The plans were submitted recently to the Los Angeles Department of City Planning and would replace six single-family homes currently across the street from Expo/Bundy. Full article here.
$80,000 Per Month for Bel-Air Mansion’s Electricity Bills
October 14, 2022 – The world’s biggest mega mansion, The One, continues to give its owners a large headache as reported by Boss Hunting.com. Everything about this estate has been monstrously expensive, so much so that it only sold at a foreclosure sale after a number of price reductions, after the developer Nile Niami defaulted on the loans and the property was put into court-ordered receivership. It’s not cursed by anything other than the developer’s own hubris. The building has yet to be completed. Full article here.
