What's holding LA back from reaching its potential? Jessica Lall, Managing Director of CBRE's DTLA office, and Carl Muhlstein, a veteran LA commercial real estate advisor, have a few ideas.
When Jessica ran for mayor in 2021, she discovered the harsh reality that candidates often spend more time fundraising than working on policy. Carl has witnessed the same cycle of problems for decades. Both see the disconnect between what Angelenos need and what actually gets built.
Why are $500M downtown buildings selling for $150M? Why is the entertainment industry not-so-quietly leaving? And what are we going to do about the graffiti-covered tower that threatens to be the backdrop of the 2028 Olympics?
Jessica and Carl are honest about LA's challenges, but they also see opportunities others are missing. From residential conversion to Century City's post-COVID success, they highlight the incredible potential of open collaboration between politicians, developers, and other stakeholders.
The conversation also covers recent legislation like the Hotel Workers Minimum Wage Ordinance and what it means for the hospitality industry long-term. Plus, they share their thoughts on emerging neighborhoods and their favorite LA buildings, offering a hopeful vision for the future of Los Angeles.
Episode Outline
(04:01) The politics of planning vs. systemic fragmentation
(06:08) Jessica's decision to run for mayor and lessons learned about campaigning
(10:06) Should real estate leaders be civic leaders?
(16:51) The perception problem facing developers and misaligned policy goals
(20:16) The simple way to solve communication breakdowns between business and government
(30:50) How the Hotel Workers Minimum Wage Ordinance impacts hospitality
(33:23) What Downtown LA can learn from Century City
(42:09) The future of Downtown LA and the role of the 2028 Olympics
(54:37) What the entertainment exodus reveals about LA's competitiveness problem
(1:00:07) Neighborhoods on the rise and favorite LA spots
Resources Mentioned
Atomic Habits by James Clear
Settecento
Guest Info
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Disclaimer: The views and opinions expressed in this podcast represent the views of the individual speakers, interviewers, or guests alone, and do not necessarily reflect the official positions, views, or opinions of Lincoln Property Company or any of its affiliates.