Business
How a Macy's parking structure became L.A.’s latest luxury apartment complex
An unlikely corner of one of L.A.’s once-famous/now-dead malls is open for business again this week as residents move into luxury apartments on the spot that used to be a Macy’s parking lot.
The Westside Pavilion was one of the city’s premier shopping venues and a cultural touchstone for generations of Angelenos, appearing in movies, television shows and music videos.
1992 photo of interior of Westside Pavilion that was designed like a Paris arcade.
(Randy Leffingwell)
Built on the site of California’s first drive-in movie theater, the center played prominent roles in the 1995 film “Clueless” and the video for musician Tom Petty’s 1989 hit “Free Fallin’.”
But like many other indoor malls, the Westside Pavilion fell out of favor in the 21st century before closing in 2019 to be converted to offices for rent.
Now the former mall also has housing, which is even more in demand than offices these days. New residents will be allowed to start moving in this week.
On a spot once occupied by what the developer called an “absolutely horrible, obsolete” parking structure, there are now 201 luxury apartments — a six-story complex that includes townhouses with front doors that open onto a residential street.
“You have your own stoop,” developer Lee Wagman said of the townhouses. “It’s kind of like a brownstone.”
Developer Lee Wagman of GPI Companies in the rooftop lounge area at the Overland & Ayres apartments.
(Juliana Yamada / Los Angeles Times)
Wagman is managing partner of GPI Cos., the Los Angeles real estate company that built the Overland & Ayres apartments and converted the mall’s former Macy’s building into the West End office complex. The combined cost of both builds was $350 million.
Wagman said the company got the temporary certificate of occupancy for the apartment complex just last week and move-ins can start as early as this week.
The rest of the former mall was in the process of being converted to offices for rent to Google when it was purchased last year by UCLA. The university is turning the old shopping center into a nearly 700,000-square-foot research center that will focus on immunology, quantum science and engineering.
The biomedical research center, which is set to open as early as next year, will be trying to tackle towering challenges such as curing cancer and preventing global pandemics.
The pool area at Overland & Ayres.
(Juliana Yamada / Los Angeles Times)
The new apartments will be convenient for people working at the research center or other nearby job centers, such as UCLA in Westwood, Century City or Culver City.
As has grown more common for buildings competing at at the top of the apartment market, Overland & Ayres has amenities such as a gym with a resort-style pool deck and spa, an outdoor lawn for working out, a sauna and a cold plunge tub.
It has a large rooftop space with both indoor and outdoor lounging, dining areas and gas grills. There is a game room and two event kitchens. The building also includes an outdoor dog park and a spa for pets.
The dog park at the Overland & Ayres Aapartments.
(Juliana Yamada / Los Angeles Times)
Services available to tenants for a fee include personal training and private yoga instruction, dry cleaning pickup and delivery, car washing, dog walking, grocery delivery and housekeeping. Plans also call for commercial tenants along Overland Avenue that would serve the building, such as a restaurant or Pilates studio.
Rents range from $3,800 per month for a studio apartment to $8,500 per month for a townhouse.
The mall makeover is part of a decades-long trend of repurposing dead shopping centers, devastated by the pivot to online shopping.
Once the kings of retail, indoor shopping centers fell out of favor and lost customers to e-commerce, as well as outdoor “lifestyle” centers — places such as the Grove and Westfield Century City, which feature fancy restaurants, entertainment and pleasant spaces to hang out, even if you’re not buying anything.
The kitchen and living room area of a two-bedroom den unit at the Overland & Ayres apartments.
(Juliana Yamada / Los Angeles Times)
The Sherman Oaks Galleria, a legendary indoor mall used in the filming of “Fast Times at Ridgemont High” and “Valley Girl,” is now mostly offices.
Lakewood Center, one of the largest enclosed malls in Los Angeles County, spanning 2 million square feet, has been sold to developers who plan to transform it by adding housing, green spaces and entertainment venues.
“A lot of malls now are going towards mixed use,” said Wagaman, who helped turn an indoor mall in Pasadena into an outdoor mall with apartments more than two decades ago.
It is not just old mall space. Struggling office buildings are also looking at transitioning to residences.
With downtown L.A.’s office rental market struggling with high vacancies and falling values, stakeholders are lobbying for city support to convert high-rises to housing. The hope is that this could help address the city’s persistent housing shortage.
Among the suggested targets for conversion are elite Financial District towers that commanded top rents before the COVID-19 pandemic’s stay-at-home orders shut down offices, leaving many buildings more than one-third vacant.
Business
Nike to Cut 1,400 Jobs as Part of Its Turnaround Plan
Nike is cutting about 1,400 jobs in its operations division, mostly from its technology department, the company said Thursday.
In a note to employees, Venkatesh Alagirisamy, the chief operating officer of Nike, said that management was nearly done reorganizing the business for its turnaround plan, and that the goal was to operate with “more speed, simplicity and precision.”
“This is not a new direction,” Mr. Alagirisamy told employees. “It is the next phase of the work already underway.”
Nike, the world’s largest sportswear company, is trying to recover after missteps led to a prolonged sales slump, in which the brand leaned into lifestyle products and away from performance shoes and apparel. Elliott Hill, the chief executive, has worked to realign the company around sports and speed up product development to create more breakthrough innovations.
In March, Nike told investors that it expected sales to fall this year, with growth in North America offset by poor performance in Asia, where the brand is struggling to rejuvenate sales in China. Executives said at the time that more volatility brought on by the war in the Middle East and rising oil prices might continue to affect its business.
The reorganization has involved cuts across many parts of the organization, including at its headquarters in Beaverton, Ore. Nike slashed some corporate staff last year and eliminated nearly 800 jobs at distribution centers in January.
“You never want to have to go through any sort of layoffs, but to re-center the company, we’re doing some of that,” Mr. Hill said in an interview earlier this year.
Mr. Alagirisamy told employees that Nike was reshaping its technology team and centering employees at its headquarters and a tech center in Bengaluru, India. The layoffs will affect workers across North America, Europe and Asia.
The cuts will also affect staffing in Nike’s factories for Air, the company’s proprietary cushioning system. Employees who work on the supply chain for raw materials will also experience changes as staff is integrated into footwear and apparel teams.
Nike’s Converse brand, which has struggled for years to revive sales, will move some of its engineering resources closer to the factories they support, the company said.
Mr. Alagirisamy said the moves were necessary to optimize Nike’s supply chain, deploy technology faster and bolster relationships with suppliers.
Business
Senate committee kills bill mandating insurance coverage for wildfire safe homes
A bill that would have required insurers to offer coverage to homeowners who take steps to reduce wildfire risk on their property died in the Legislature.
The Senate Insurance Committee on Monday voted down the measure, SB 1076, one of the most ambitious bills spurred by the devastating January 2025 wildfires.
The vote came despite fire victims and others rallying at the state Capitol in support of the measure, authored by state Sen. Sasha Renée Pérez (D-Pasadena), whose district includes the Eaton fire zone.
The Insurance Coverage for Fire-Safe Homes Act originally would have required insurers to offer and renew coverage for any home that meets wildfire-safety standards adopted by the insurance commissioner starting Jan. 1, 2028.
It also threatened insurers with a five-year ban from the sale of home or auto insurance if they did not comply, though it allowed for exceptions.
However, faced with strong opposition from the insurance industry, Pérez had agreed to amend the bill so it would have established community-wide pilot projects across the state to better understand the most effective way to limit property and insurance losses from wildfires.
Insurers would have had to offer four years of coverage to homeowners in successful pilot projects.
Denni Ritter, a vice president of the American Property Casualty Insurance Assn., told the committee that her trade group opposed the bill.
“While we appreciate the intent behind those conversations, those concepts do not remove our opposition, because they retain the same core flaw — substituting underwriting judgment and solvency safeguards with a statutory mandate to accept risk,” she said.
In voting against the bill Sen. Laura Richardson, (D-San Pedro), said: “Last I heard, in the United States, we don’t require any company to do anything. That’s the difference between capitalism and communism, frankly.”
The remarks against the measure prompted committee Chair Sen. Steve Padilla, (D-Chula Vista), to chastise committee members in opposition.
“I’m a little perturbed, and I’m a little disappointed, because you have someone who is trying to work with industry, who is trying to get facts and data,” he said.
Monday’s vote was the fourth time a bill that would have required insurers to offer coverage to so-called “fire hardened” homes failed in the Legislature since 2020, according to an analysis by insurance committee staff.
Fire hardening includes measures such as cutting back brush, installing fire resistant roofs and closing eaves to resist fire embers.
Pérez’s legislation was thought to have a better chance of passage because it followed the most catastrophic wildfires in U.S. history, which damaged or destroyed more than 18,000 structures and killed 31 people.
The bill was co-sponsored by the Los Angeles advocacy group Consumer Watchdog and Every Fire Survivor’s Network, a community group founded in Altadena after the fires formerly called the Eaton Fire Survivors Network.
But it also had broad support from groups such as the California Apartment Association, the California Nurses Association and California Environmental Voters.
Leading up to the fires, many insurers, citing heightened fire risk, had dropped policyholders in fire-prone neighorhoods. That forced them onto the California FAIR Plan, the state’s insurer of last resort, which offers limited but costly policies.
A Times analysis found that that in the Palisades and Eaton fire zones, the FAIR Plan’s rolls from 2020 to 2024 nearly doubled from 14,272 to 28,440. Mandating coverage has been seen as a way of reducing FAIR Plan enrollment.
“I’m disappointed this bill died in committee. Fire survivors deserved better,” Pérez said in a statement .
Also failing Monday in the committee was SB 982, a bill authored by Sen. Scott Wiener, (D-San Francisco). It would have authorized California’s attorney general to sue fossil fuel companies to recover losses from climate-induced disasters. It was opposed by the oil and gas industry.
Passing the committee were two other Pérez bills. SB 877 requires insurers to provide more transparency in the claims process. SB 878 imposes a penalty on insurers who don’t make claims payments on time.
Another bill, SB 1301, authored by insurance commissioner candidate Sen. Ben Allen, (D-Pacific Palisades), also passed. It protects policyholders from unexplained and abrupt policy non-renewals.
Business
How We Cover the White House Correspondents’ Dinner
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Politicians in Washington and the reporters who cover them have an often adversarial relationship.
But on the last Saturday in April, they gather for an irreverent celebration of press freedom and the First Amendment at the Washington Hilton Hotel: The White House Correspondents’ Association dinner.
Hosted by the association, an organization that helps ensure access for media outlets covering the presidency, the dinner attracts Hollywood stars; politicians from both parties; and representatives of more than 100 networks, newspapers, magazines and wire services.
While The Times will have two reporters in the ballroom covering the event, the company no longer buys seats at the party, said Richard W. Stevenson, the Washington bureau chief. The decision goes back almost two decades; the last dinner The Times attended as an organization was in 2007.
“We made a judgment back then that the event had become too celebrity-focused and was undercutting our need to demonstrate to readers that we always seek to maintain a proper distance from the people we cover, many of whom attend as guests,” he said.
It’s a decision, he added, that “we have stuck by through both Republican and Democratic administrations, although we support the work of the White House Correspondents’ Association.”
Susan Wessling, The Times’s Standards editor, said the policy is a product of the organization’s desire to maintain editorial independence.
“We don’t want to leave readers with any questions about our independence and credibility by seeming to be overly friendly with people whose words and actions we need to report on,” she said.
The celebrity mentalist Oz Pearlman is headlining the evening, in lieu of the usual comedy set by the likes of Stephen Colbert and Hasan Minhaj, but all eyes will be on President Trump, who will make his first appearance at the dinner as president.
Mr. Trump has boycotted the event since 2011, when he was the butt of punchlines delivered by President Barack Obama and the talk show host Seth Meyers mocking his hair, his reality TV show and his preoccupation with the “birther” movement.
Last month, though, Mr. Trump, who has a contentious relationship with the media, announced his intention to attend this year’s dinner, where he will speak to a room full of the same reporters he often derides as “enemies of the people.”
Times reporters will be there to document the highs, the lows and the reactions in the room. A reporter for the Styles desk has also been assigned to cover the robust roster of after-parties around Washington.
Some off-duty reporters from The Times will also be present at this late-night circuit, though everyone remains cognizant of their roles, said Patrick Healy, The Times’s assistant managing editor for Standards and Trust.
“If they’re reporting, there’s a notebook or recorder out as usual,” he said. “If they’re not, they’re pros who know they’re always identifiable as Times journalists.”
For most of The Times’s reporters and editors, though, the evening will be experienced from home.
“The rest of us will be able to follow the coverage,” Mr. Stevenson said, “without having to don our tuxes or gowns.”
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