Business Insights
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact

Archives

  • September 2025
  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • August 2023
  • January 2023
  • December 2021
  • July 2021
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Business
  • Crypto
  • Economy
  • Finance Expert
  • Forex
  • Invest News
  • Investing
  • Tech
  • Trading
  • Uncategorized
  • Videos
Apply Loan
Money Visa
Advertise Us
Money Visa
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact
How a Macy's parking structure became L.A. latest luxury apartment complex
  • Business

How a Macy’s parking structure became L.A. latest luxury apartment complex

  • September 1, 2025
  • Roubens Andy King
Total
0
Shares
0
0
0
Total
0
Shares
Share 0
Tweet 0
Pin it 0

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 stands in the rooftop lounge.

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.

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 new Overland & Ayres Apartments.

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 new Overland & Ayres Apartments.

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.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Roubens Andy King

Previous Article
Short Squeezes: A Four-Factor Model
  • Invest News

Short Squeezes: A Four-Factor Model

  • September 1, 2025
  • Roubens Andy King
Read More
Next Article
SCCM Enhanced Equity Income Fund Purchased Norfolk Southern (NSC) in Q2
  • Finance Expert

SCCM Enhanced Equity Income Fund Purchased Norfolk Southern (NSC) in Q2

  • September 1, 2025
  • Roubens Andy King
Read More
You May Also Like
Walmart+ adds Peacock to streaming offerings to better compete with Amazon Prime
Read More
  • Business

Walmart+ adds Peacock to streaming offerings to better compete with Amazon Prime

  • Roubens Andy King
  • September 3, 2025
Weak pound and yen shore up dollar, bonds and payrolls in focus
Read More
  • Business

Weak pound and yen shore up dollar, bonds and payrolls in focus

  • Roubens Andy King
  • September 3, 2025
Salesforce CEO Marc Benioff says he cut 4,000 support roles because of AI
Read More
  • Business

Salesforce CEO Marc Benioff says he cut 4,000 support roles because of AI

  • Roubens Andy King
  • September 2, 2025
Let’s Break Down What You Need to Be Watching This Week
Read More
  • Business

Let’s Break Down What You Need to Be Watching This Week

  • Roubens Andy King
  • September 2, 2025
Google won’t be forced to sell its Chrome browser, judge rules
Read More
  • Business

Google won’t be forced to sell its Chrome browser, judge rules

  • Roubens Andy King
  • September 2, 2025
Gold price hits record high as investors seek safe haven | Gold
Read More
  • Business

Gold price hits record high as investors seek safe haven | Gold

  • Roubens Andy King
  • September 2, 2025
How Is Chevron’s Stock Performance Compared to Other Oil & Gas Exploration & Production Stocks?
Read More
  • Business

How Is Chevron’s Stock Performance Compared to Other Oil & Gas Exploration & Production Stocks?

  • Roubens Andy King
  • September 2, 2025
Bunker Hill tower One California Plaza goes into receivership
Read More
  • Business

Bunker Hill tower One California Plaza goes into receivership

  • Roubens Andy King
  • September 2, 2025

Recent Posts

  • U.S. Bank Resumes Bitcoin Custody Services For Institutional Investors, Adding Support For Bitcoin ETFs
  • Is Bitcoin About to Start Its Next Bear Market?
  • S&P 500 Futures Rise and Bond Selloff Eases Ahead of Jobs Data
  • SEC Reviews Quantum-Safe Roadmap for Digital Assets
  • Bad actors are using Ethereum smart contracts to deploy malware: ReversingLabs
Featured Posts
  • U.S. Bank Resumes Bitcoin Custody Services For Institutional Investors, Adding Support For Bitcoin ETFs 1
    U.S. Bank Resumes Bitcoin Custody Services For Institutional Investors, Adding Support For Bitcoin ETFs
    • September 4, 2025
  • Is Bitcoin About to Start Its Next Bear Market? 2
    Is Bitcoin About to Start Its Next Bear Market?
    • September 4, 2025
  • S&P 500 Futures Rise and Bond Selloff Eases Ahead of Jobs Data 3
    S&P 500 Futures Rise and Bond Selloff Eases Ahead of Jobs Data
    • September 4, 2025
  • SEC Reviews Quantum-Safe Roadmap for Digital Assets 4
    SEC Reviews Quantum-Safe Roadmap for Digital Assets
    • September 4, 2025
  • Bad actors are using Ethereum smart contracts to deploy malware: ReversingLabs 5
    Bad actors are using Ethereum smart contracts to deploy malware: ReversingLabs
    • September 4, 2025
Recent Posts
  • Stock Futures Rise and Bond Selloff Eases Ahead of Jobs Report
    Stock Futures Rise and Bond Selloff Eases Ahead of Jobs Report
    • September 4, 2025
  • Bitcoin, Ethereum Open Interest Are Sitting Close To ATH Levels, What Happened Last Time?
    Bitcoin, Ethereum Open Interest Are Sitting Close To ATH Levels, What Happened Last Time?
    • September 4, 2025
  • Ethereum Open Interest Holds Firm at .4B: Why Traders Aren’t Flinching Despite Price Pressure
    Ethereum Open Interest Holds Firm at $8.4B: Why Traders Aren’t Flinching Despite Price Pressure
    • September 4, 2025
Categories
  • Business (2,057)
  • Crypto (1,479)
  • Economy (117)
  • Finance Expert (1,687)
  • Forex (1,477)
  • Invest News (2,358)
  • Investing (1,447)
  • Tech (2,056)
  • Trading (2,024)
  • Uncategorized (2)
  • Videos (808)

Subscribe

Subscribe now to our newsletter

Money Visa
  • Privacy Policy
  • DMCA
  • Terms of Use
Money & Invest Advices

Input your search keywords and press Enter.