NEW 21 STORY HOTEL PLANNED FOR HOLLYWOOD

The Jack in the Box at Cahuenga and Sunset that somehow survived for all these years is finally succumbing to Hollywood’s hotel boom. According to a preliminary study filed with the city planning department, the fast food joint will be replaced by a 21-story hotel tower with a rooftop pool, underground parking, and an Art Deco-inspired exterior, says Urbanize LA.
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L.A. TO CONVERT MOTEL UNITS TO APARTMENTS FOR HOMELESS VETERANS

L.A. TO CONVERT MOTEL UNITS TO APARTMENTS FOR HOMELESS VETERANS

By Gale Holland

The city of Los Angeles has approved a deal for nonprofit and private developers to convert “nuisance” motels into 500 permanent supportive apartments for homeless veterans.
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A HUGE NEW NEIGHBORHOOD RISES IN INGLEWOOD

A HUGE NEW NEIGHBORHOOD RISES IN INGLEWOOD

3,000 new residential units, an artificial lake, and a revamped casino are just a few features of a huge Hollywood Park makeover

The new Rams stadium being constructed in Inglewood has been hogging quite a bit of the development spotlight lately, and that makes sense. After all, it’s been more than 20 years since an NFL team called Los Angeles home. Still, the future Rams arena (and possible site of the 2020 Super Bowl) isn’t the only big project planned for the massive parcel of land left behind after the demolition of the Hollywood Park Racetrack. In fact, Rams owner Stan Kroenke’s new sports facility is a fairly new addition to a huge mixed-use development that has been in the works for more than a decade.
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WENDY’S GOES TO SELF-SERVE KIOSKS AS WAGE INCREASES KICK IN

WENDY’S GOES TO SELF-SERVE KIOSKS AS WAGE INCREASES KICK IN

As anyone who has a smattering of economics education could have told you, when government, rather than the marketplace, determines wages and prices the end result is always economic disaster. Thousands of employees in the fast-food business, and other businesses will be replaced by technology, eliminating those jobs. The government can’t arbitrarily and artificially set wages and not expect that there will be adverse consequences. The increase in the minimum wage which will cost billions of dollars to businesses was the catalyst necessary for businesses to decide to spend money on technology to figure out how to replace expensive employees. The end result of an increase in the minimum wage: fewer jobs. Something that Republicans and economists have been saying all along.
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NET LEASE CAP RATES SET RECORDS

NET LEASE CAP RATES SET RECORDS

Cap rates for single-tenant retail properties hit an all-time low in the first quarter as buyers chase these net lease assets.

Net lease retail investment is hitting new lows, but that’s a sign of its high esteem among investors. During the first quarter, median cap rates for single-tenant retail properties dropped to 6.18 percent, setting a record, according to a report published in April by The Boulder Group. That represents a decline of 7 basis points from the previous quarter and a 22-basis-point decline year over year.
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