Program
Wrap-Up
Current Challenges and Successes in Shopping
Center Development
October 1, 2003, Millenium Biltmore Hotel
He has a zero-tolerance
policy toward providing access to gang members. At a recent Hollywood
premiere at the Grove, several gang members were spotted and immediately
escorted off the property.
Another area where Caruso has made significant investment in is the
Conejo Valley, on the western bor-der of Los Angeles County. Caruso
has two projects there, and expects to start construction on a third
in November, a 48,000-square-foot re-tail and entertainment complex
in Thousand Oaks.
Caruso’s next big project is the Glendale Town Center. Glendale’s redevelopment agency voted in September to extend an exclusive negotiation agreement for this project. Caruso’s firm has been plan-ning this proposed $172 million, 5.8-acre retail and multifamily housing project for two years.
One of his top development priorities is reinforcing a sense of community. On the site where The Grove now stands, several Developers had struggled to get community buy-in for their vision.
Caruso’s
firm not only successfully developed the property, but also can boast
broad support from local neigh-borhood associations. Greg Schultz, vice
president at First American Title Co. and an officer with LAHq, commented
that Caruso succeeds in building in the most insidious places to get entitlements.
Schultz asked the developer “How do you get it done? How do you
keep them going?”“We really do listen to the community,”
Caruso responded. “And we stay good neighbors.”
The benefit of community can only be realized in a safe environment, Caruso
explained. People “want to connect to something that makes them
feel safer.”
His commitment to creating safer communities is witnessed by his invol-vement
as a member of the Los Angeles Police Commission, an organi-zation that
provides civilian oversight to the Los Angeles Police Department.
Caruso sees this involvement as an opportunity to protect his investments
in the community. “It doesn’t matter how good my project is
if the city isn’t safe,” he said. “I won’t build
or own a project if my family doesn’t feel safe there.” At
The Grove, for instance, Caruso invested heavily in security.
LAHq Board Votes to Oppose Community Impact Reports
A proposal has been
made before the City of Los Angeles that will require developers to
prepare a written report of the social implications related to new projects.
The report, known as a “Community Impact Report” or “CIR,”
is modeled after CEQA (California Environmental Quality Act) but adds
the burden of collecting a substantial amount of additional information,
inclu-ding sensitive financial information. This reporting requirement
would be imposed on “by-right” projects as well as projects
receiving no funding from the City. One of the leading proponents of
this proposal is the Los Angeles Alliance for a New Economy.
LAHQ’s Board of Directors has unanimously voted to oppose the
CIR proposal for many reasons. The proposal would impose disincentives
on development (particularly infill development), inject undue uncertainty
into the entitlement process, and expose developers to potential lawsuits
from special interest groups. LAHQ’s Board President, Ed Casey,
recently testified against the CIR proposal before the Community Redevelopment
Agency, and LAHQ will continue to monitor the situation.