Even as California’s population took a hit during the pandemic, new data show the state experienced a boom in home building the likes of which has not been seen since the Great Recession.
The rise in new construction — including increases in multiunit dwellings in some areas — comes as California faces a housing crisis that has sparked a push at the city and state levels to build more homes.
Experts say that although the ramped-up construction has helped, it is not enough — at least yet — to seriously reduce high rents and housing prices.
The data from the California Department of Finance show statewide housing production in 2022 increased 0.85%, the highest figure since 2008. That growth could eventually help combat the high cost of housing in California, demographic experts say, and plug the population drain.
Home construction rose in 2020 and 2021 but really took off in 2022, showing the biggest jump since 2008.
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Though 2008 — the year a housing-driven financial crisis plunged the United States into the Great Recession — may be an ominous comparison, lawmakers have stated that additional housing is key to solving the state’s affordability crisis, with Gov. Gavin Newsom pledging when he first entered office in 2019 that 3.5 million new homes would be built by 2025.
“When it takes a decade of really massive economic growth in this state for housing production to catch up to the prerecession levels, that says as much about the depths of our production crisis as it does about some kind of recent victory,” said Michael Lens, a professor of urban planning and public policy at UCLA.
Lens did point to some policy changes, including those governing accessory dwelling units, as positive steps. “Some of this is the result of smarter policy,” he said, “but it’s also a really slow rebound.”
A Times analysis of county-level data showed that between 2021 and 2022, Central and Northern California counties saw the biggest housing growth. Placer, Yuba, Butte, San Joaquin, Merced and San Benito counties led the state in growth, all above 3%.
“That’s not what we would hope,” Lens said of more rural areas adding the most housing, as Central California is “not where housing is most expensive” and “not the most economically productive area of the state.”
“The battle that we’re facing on a land-use front,” he said, is the prevalence of “overly restrictive coastal areas.”
“We still haven’t found a way to make San Francisco and the surrounding areas, and Los Angeles and its surrounding areas, build more housing more quickly,” said Lens, adding that the housing crunch has driven population loss.
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Unaffordability and the pandemic have driven several years of population loss in California, a trend that continued in 2022, when the state lost around 138,400 people, a 0.35% loss. The decline was less than in the prior years, a slowdown partially attributable to skyrocketing foreign immigration.
During the pandemic, foreign immigration plummeted, but 2022 saw levels recover to near pre-pandemic rates. California had a net gain from immigration of 90,300 people last year, almost three times the total of 31,300 the year before.
The increase in immigration, however, was not enough to stop California’s three largest counties from experiencing population loss yet again.
Los Angeles County’s population declined by 73,293 people, or 0.75%, San Diego County’s by 5,680 people, or 0.2%, and Orange County’s by 14,782 people, or 0.5%, according to the state Department of Finance report.
Overall, 46 of California’s 58 counties lost population last year. Of 482 cities counted, 356 lost population, or 74%.
“Hundreds of thousands more people would desire to live in the Bay Area — if not millions — and Southern California, if we made it easier to accommodate those people through more housing units and presumably more affordable housing,” Lens said.
A Times analysis showed that after rising steadily in the 2010s, the number of people per household dropped significantly in 2020 and has stayed low.
Overcrowding, which may have contributed to the high 2010s numbers, is “a predictable byproduct of very expensive housing,” according to Lens.
“A lot of the declines in the pandemic had to do with people needing to separate from multigenerational living,” he said, and may not reflect better housing outcomes for people overall.
While losing population, major cities built the majority of new multifamily housing, the data show. Los Angeles added 12,074 multifamily units, which accounted for 62% of net housing growth, and San Diego added 4,568 such units for 65% of net growth.
Oakland and San Francisco skewed even more toward multifamily development, adding 3,880 and 2,573 units, respectively, which accounted for 97% and 91% of growth.
Suburban cities, on the other hand, often prioritized single-family housing. All of the development — 100% — in Roseville and Santa Clarita was single-family housing, the report says. In Fresno, the figure was 92%, and in Irvine, 71%.
The housing crunch was exemplified by a boom in the production of accessory dwelling units. ADU production increased by 61% in 2022 as the state added more than 20,000 units.
In all, the state netted 123,350 housing units in 2022, the most in nearly 15 years.
The state still has a long way to go to meet its housing needs. A Times review found that although Newsom has prioritized housing issues more than his predecessors in office, he’s fallen far short of his goals.
New state-level oversight seeks to ensure that “the total number of housing units that every region is expected to build is rising,” Lens said, as well as enforcing better distribution region by region. Beverly Hills should absorb people, he said, not just the Coachella Valley.
“We expect more equitable and more productive housing construction over the next decade,” Lens said, “but it’s going to take some time and take some diligence on the part of the state.”
Christina Hall is a woman of many names. Forget the multiverse, we’re talking multi-monikers.
We first made her acquaintance back in 2013 when she was known as Christina El-Moussa. A decade ago, she likely had aspirations of stardom with the launch of “Flip or Flop” on HGTV, but nothing could have prepared her for the fame—and tabloid headlines—ahead.
Her show with then-husband Tarek El-Moussa became a hit, but their relationship deteriorated. The couple separated in 2016 and divorced in 2017. She quickly rebounded into a relationship with British TV host Ant Anstead and the duo were married in late 2018. The former Mrs. El-Moussa took Ant’s name and became Christina Anstead.
But after just 21 months of marriage and one child, she announced her separation from Anstead. In late 2020, after filing for divorce, she announced that she would be now known as Christina Haack—her maiden name.
Her backtrack to Haack lasted less than two years, when she married real estate agent Joshua Hall in April 2022. Now known as Christina Hall, it’s her fourth name in ten years. It’s been a challenge to keep up with Christina’s switching surnames, but there’s plenty else to learn about this well-known home designer.
Curious about what curveballs you might have missed? Brush up on these surprising facts about this famous house flipper.
1. Her original name is a real mouthful
Christina was born Christina Meursinge Haack and raised in California’s Orange County. She attended a local community college when she realized she’d like to pursue real estate as a career.
2. She originally wanted to be a sports agent
Although she shines in the spotlight, stardom was never a burning desire.
“I never thought about being on TV. I wanted to be a sports agent like Jerry Maguire,” she admits.
An Instagram photo of a young smiling Christina alongside NBA legend Magic Johnson hinted at her future plans.
Yet during college at San Diego State, she opted to get her real estate license instead.
“I got started in real estate at 21,” she says, “which led to selling houses, which led to flipping houses, which led to TV.”
3. She and Tarek El Moussa met working in real estate
Christina began working at a real estate office, which is where she met Tarek El Moussa. She was 22. Things moved quickly for these two.
“The day Tarek and I officially started dating, which was Oct. 9, 2006, we moved in together,” she said in an interview with Good Housekeeping. Talk about a whirlwind romance!
In 2009, the two got married and had two kids, Taylor and Brayden. Seven years later, they separated, but not before making a name and business for themselves as flipping partners.
4. Christina and Tarek started flipping because of the recession
In the late 2000s, the real estate market was hit hard by the recession and the burst of the nationwide real estate bubble.
And because they both worked in the real estate realm, the couple had some hard times. They even had to downsize their own home, going from a house with a $6,000 mortgage to a rental apartment with a roommate.
To make ends meet, Christina and Tarek decided to try their hand at house flipping. The couple bought their first investment property for $115,000, with business partner Pete De Best, and split a $34,000 profit. Not bad for a couple of first-time flippers!
5. ‘Flip or Flop’ began with a borrowed video camera
With their house flipping ventures proving successful, Tarek thought their projects would make a good show. He borrowed a video camera to make a demo. At the time, Christina was seven months pregnant with their daughter, Taylor.
Soon, Pie Town Productions, which produces shows for HGTV, expressed interest in the couple. Their show was named “Flip or Flop,” and 13 episodes were ordered in the first run. The couple were reportedly paid $10,000 each per episode during that first season.
6. One hit show led to another, ‘Christina on the Coast’
Despite the couple’s off-screen drama, “Flip or Flop” became a huge success for HGTV and led to spinoffs for both Tarek and Christina.
El Moussa now tutors novice flippers on “Flipping 101,” while Christina has the home design show, “Christina on the Coast.” Her show premiered in 2019 and is now headed into its fourth season.
7. Her move to Music City inspired yet another spinoff
In early 2021, Christina looked beyond the comforts of her familiar surroundings in California. She plunked down $2.5 million for a modern farmhouse near Nashville. The six-bedroom home sits on 23 acres in Franklin, TN.
It also proved to be the perfect setting for another HGTV spin-off, “Christina in the Country.” The show documents the expansion of her design business in the Nashville area as well as putting down roots in a completely new environment.
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8. Christina has her own flooring line
While Christina is best known for her HGTV shows, she’s also branched out into the wide world of flooring.
Her collection of waterproof vinyl flooring designed to resemble hardwood is available in a variety of colors and styles. She insists vinyl floors can be stylish and said, “I would never sell a product that is not attractive.”
After battling health problems in recent years, Christina went to an alternative medicine center in late 2022. She wanted to get the bottom of her ailments and turned to a quantum biofeedback machine.
The HGTV star reported on Instagram that her test results showed mercury and lead poisoning—a result that she attributed to all the “gross flips” she did in her early career with Tarek.
Prior to her diagnosis, Christina documented her health struggles and her attempt at healing in the 2020 book, “The Wellness Remodel.”
A Movement representative did not return a request for comments.
A spokesperson for loanDepot said, “Inducing individuals to breach contractual prohibitions against employee solicitation and misuse of confidential information in order to steal business and customer relationships crosses the line into unfair competition, and we will continue to vigorously protect our interests.”
The California-based lender claims employees in Virginia, Pennsylvania, and Florida left the company to join Movement after an “orchestrated” move and “all-expenses-paid recruiting trips,” including to Movement’s headquarters in South Carolina. Additional Maryland, Washington, D.C., and Delaware employees also transitioned to the retail competitor.
In some cases, Movement offered a $125,000 signing bonus to loanDepot loan originators to come to the company, the lawsuit claims.
“To date, several loanDepot branches have been effectively gutted and loanDepot has lost at least 25 employees at the hand of Movement’s predatory raiding,” the lawsuit states.
The lawsuit follows: “In the weeks leading to their departures, the former employees accessed and misappropriated confidential and trade secret documents about loanDepot’s business, its employees, and its clients; information that, in the hands of Movement, was used to convert customers to Movement and away from loanDepot.”
loanDepot has ongoing arbitrations with certain of the former employees.
The lender seeks damages and permanent injunctive relief against Movement for misappropriation of trade secrets, aiding and abetting breaches of fiduciary duty, unfair competition, unjust enrichment, unfair trade practices, and tortious interference with loanDepot’s contracts and prospective economic advantage.
That’s not the Orange County, California-based lender’s only poaching legal battle.
Since April 2022, the company filed three lawsuits against CrossCountry Mortgage in New York, California and Illinois.
In early June, a judge in the N.Y. case ruled in favor of loanDepot in a preliminary injunction by prohibiting CrossCountry and employees who switched companies from using data they obtained from their prior employer. It follows a decision from a judge in the Chicago lawsuit. However, according to the judge, as loanDepot has not shown an “actual and imminent” risk of irreparable harm, its request for a preliminary injunction against the solicitation of loanDepot’s employees was denied. The judge mentions “loanDepot is likely to succeed on the merits of its Defend Trade Secrets Act claim.”
Josh D’Amaro notices chipped paint as he passes by the entrance to the Pirates of the Caribbean ride.
“It bugs me, absolutely bugs me,” he says.
We are walking through Disneyland, and D’Amaro is on the hunt for burned-out lightbulbs, trash on walkways and anything else that can take away from the magic.
But this 52-year-old isn’t just any Disney employee (or “cast member,” as he would note).
D’Amaro is in charge of Disneyland and the 11 other Disney theme parks around the world, plus Disney Cruise Line, a timeshare business, 50 hotels, an adventure tour company and all the merchandise (think: toys, books, games and clothing) The Walt Disney Company produces and licenses globally.
Yet on this June afternoon, the chairman of Disney parks, experiences and products is obsessing over a paint chip on a little-used railing. Doesn’t one of the company’s top executives have better things to do with his time?
“Absolutely not,” he quickly shoots back. “That’s all part of the show.”
D’Amaro is one of the most powerful theme park executives in the world. He has to balance, among other things, keeping the magic and nostalgia of Walt Disney’s vision alive with innovating rides and attractions for a younger tech-savvy generation.
Not to mention, D’Amaro has the difficult task of juggling the conflicting goals of creating profits for shareholders and making a Disney vacation affordable — or, at least, within reach — for families that dream of such a trip.
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Disney parks are, in some ways, the ultimate aspirational trip for kids of all ages. Children dream of visiting, and Super Bowl champions have turned it into a winning catchphrase.
“This is a place for everyone,” D’Amaro says. “When you go walk around, you’ll see people from everywhere, from all walks of life.”
Yet prices keep climbing.
Disney experimented with a “Star Wars”-themed “hotel,” a one-of-a-kind immersive experience that ultimately failed due to its high cost (rates started at $5,000 for two nights). Now, the company is launching a $115,000 private jet tour that takes passengers to all 12 parks around the world, plus the Taj Mahal, the pyramids of Giza and the Eiffel Tower. It’s only open to 75 people.
“We have to have options for guests,” D’Amaro says. “I want to make sure there are as many choices presented to you as simply as they can be. You could stay at a value resort if you choose to, or you could stay at the Grand Floridian or the Grand Californian if you’d like to.”
That choice includes visiting during peak school breaks when prices are higher or on cheaper off-peak dates, though not every family has the flexibility or feels comfortable pulling their kids out of school to enjoy a less expensive ride on Space Mountain.
D’Amaro notes that there are now more days available at the lowest price (about $100 per person per day). Earlier this year, The Walt Disney Company also eliminated self-parking fees for Disney World hotel guests, a 4-year-old charge that angered many Disney fans. It represented the beginning of a multiyear era that removed some previous inclusions, such as the Magical Express bus and MagicBands, and saw the addition of new add-on charges like Genie+ and Lightning Lanes.
Related: Disney World making changes to simplify visits and bringing back a fan-favorite perk
It’s a balancing act, D’Amaro acknowledges. If the price is too low, lines will be unbearable, souring the experience for all. But if it is too high, the parks become inaccessible for a large share of the population.
“I’ll repeat the same thing I said before: We don’t always get it right,” he notes.
That led me to ask about Star Wars: Galactic Starcruiser, Disney’s attempt to turn a themed hotel into an immersive “Star Wars” drama with actors, battles and adventures that brought guests into the story and experience.
D’Amaro said he’s always pushing the park designers (known as Imagineers) to take risks and not be afraid to try something new.
“Raise the bar. Try things that the guests aren’t even asking for because they don’t know to ask for that,” he says. “I know not everything’s going to work. What did work, though, is we took creativity and storytelling to a completely new level, to a level that had never existed before. … It didn’t work commercially. And so, when we realized that, you just make a call and move on.”
So, what will become of the hotel after the last guests check out in September?
“No hints yet,” D’Amaro says, smiling, “but something will happen.”
There are few people as close to Disney’s evolution as D’Amaro.
For the past 25 years, he’s been working in the parks, starting with a team at Disneyland that planned out park operations.
“On day one, I sat in a meeting with probably 14 people and I could not believe what was happening in front of me,” he recalls. “These people, cast members, were talking about the most granular details on Main Street. Where should the trash bins go? What if we moved this from here to there, which way do we think the guests are going to go? The pain and the detail and the concern that the people in that room were taking … is burned in my memory.”
He eventually rose to become president of California’s Disneyland Resort, where he opened the wildly popular Star Wars: Galaxy’s Edge land before moving on to become president of Walt Disney World Resort in Florida in 2019.
Then, in 2020, Bob Chapek, who was the chairman of parks and resorts, was promoted to CEO of the entire Walt Disney Company, opening up the opportunity for D’Amaro to become the one responsible for overseeing the entire parks and experiences empire.
Chapek’s tenure as CEO didn’t last long, and Bob Iger came out of retirement in late 2022 to once again take the helm. But given Chapek’s rise from chairman of parks to CEO, it isn’t all that surprising to learn that D’Amaro’s name has been floated as Iger’s replacement when he steps down for good. If that happens, many Disney fans will likely be pleased, as they are already familiar with D’Amaro. In fact, he’s a bit of a celebrity when he’s in the parks.
As we walked through Disneyland on a Friday afternoon, people would scream out his name: “Josh! Josh! Can I get a photo please?”
And it wasn’t just one fan. It was dozens, all within minutes, including a couple from Louisiana spending five nights of their honeymoon at the California resort.
“You’re a celebrity to me, actually,” the newly married man said. “It’s nice to meet you.”
A few paces later, a middle-aged woman getting a selfie told him, “This is a big day for a Disney adult.”
It was almost like Anna and Elsa were strolling the parks in terms of excited fans making requests for photos. (For the record, D’Amaro’s three favorite characters are Mickey, Goofy and Buzz Lightyear, while his favorite villain is Maleficent.)
“I don’t love the recognition for the sake of the recognition,” he says. “I love the fact that people will come up and talk to me and tell me what they love and tell me when their family first came here and tell me what they would love to see change.”
For some politicians, Disney doesn’t warrant the same reaction. To them, Disney has become the villain in America’s fairy tale.
Around the globe, guests can stroll Main Street, U.S.A., Walt Disney’s sanitized vision of what a small town should look like — a place where a band still plays “God Bless America” in the afternoon.
Yet Disney, as a company, has thousands of employees and millions of consumers who care about modern-day issues and don’t want executives frozen in some idealized past vision of America.
Most notably, Disney has clashed with some Florida Republicans over a new law restricting classroom instruction about sexual orientation and gender identity, a measure dubbed “Don’t Say Gay” by its opponents. The company also battled California officials over when to reopen the parks amid the COVID-19 pandemic. Add to that the politics and challenges of operating parks in China during the past few years, and it’s safe to say that D’Amaro’s job of keeping sometimes conflicting groups happy isn’t easy.
D’Amaro acknowledges the political struggles but says he tells his team to just focus on what they do best.
“That is telling incredible stories, continuing to innovate and making sure that every one of these guests out here have a great time when they’re in our theme parks,” he says.
Sometimes, those debates spill over to the parks themselves.
Disney recently shut down Splash Mountain, a water ride that featured characters from the 1946 film “Song of the South,” which has been criticized for its racist themes. The ride will be reopened as Tiana’s Bayou Adventure, a ride based around Disney’s first Black princess.
Related: These are the best rides at Disneyland
While many praised the change, there were plenty of critics, some accusing Disney of being “woke.”
“I think that as guests have points of view on what we might do inside of the theme park, changing an attraction or changing a walkway, what that says to me is: People care about our product,” D’Amaro says. “What am I going to do? I’m going to listen and make sure that I do the best for all the guests that I possibly can.”
Almost on cue, a mom with an 8-year-old daughter approaches D’Amaro. Her daughter has never been on Big Thunder Mountain Railroad. They have a Lightning Lane pass to skip the line, but the girl is frightened.
“I’ll tell you what’s going to happen,” D’Amaro tells the girl. “You’re going to finish it up. You’re going to be laughing and you’re going to say: ‘I can’t believe I was worried about going on that.’ You’re going to tell all your friends, and you’re going to look cool. I would do it.”
They pose for a photo, then the mom says, “He makes this park amazing. He’s the reason why.”
The walk continues on, and the conversation shifts to hidden Mickeys (abstract circles that look like the famous mouse hidden in plain sight) and other more hush-hush aspects of the parks.
Naturally, I ask if he has ever been questioned about and revealed the locations of the park’s secret tunnels.
“Yes,” D’Amaro says. “And I don’t tell them.”
Then, we entered the land D’Amaro opened as Disneyland president. He recalls watching the first guests come into Star Wars: Galaxy’s Edge on opening day. Kids were running around, and 50-year-old men were crying.
Before long, he hints at another park secret.
“When we opened this land and before everything was kind of sealed up and ready to go,” he says, pausing and smiling, “I had a chance to get out here and do some fun things that I think will go down — maybe — someday in history.”
Then, like the great show master that he is, D’Amaro moves the conversation on, not offering up any more details about his own contribution to the “Star Wars” universe.
Much of the modern-day Disney empire developed well after Walt Disney’s death in 1966.
The first “Star Wars” movie wouldn’t hit theaters for another decade. Disney World wouldn’t even open for five additional years. Yet Walt Disney’s force, attention to detail and belief that nothing is ever truly finished are still very much felt in the parks today, especially with executives like D’Amaro focusing with Walt-like attention on the small details, like ensuring that paint isn’t chipped.
So, what would Walt think about the “Star Wars” campus?
“I think he’d be pretty proud. I think he would actually be pretty amazed at the evolution of storytelling,” D’Amaro said. “I don’t think he could have ever imagined it was this, but at its core, we’re doing the same thing he wanted to do. We could just do it so much more effectively now.”
It’s almost time for Dodger baseball. You’re rolling west along Sunset Boulevard, visions of Mookie Betts and Clayton Kershaw and Julio Urías happily dancing through your mind.
You’re one block from turning onto Vin Scully Avenue and into Dodger Stadium when you notice a black billboard, looming ominously above an auto repair shop called Fernando’s Tires. The billboard features this name, in bright white letters: Frank McCourt.
That guy?
Yes, that guy, the one who traded two Boston parking lots and what one of his attorneys said was “not a penny” of his own cash for ownership of the Dodgers. Yes, the one who dragged the storied team into bankruptcy amid Major League Baseball allegations he had “looted” $189 million from team revenues for personal use. And, yes, the one who laughed all the way to the bank, selling the Dodgers for a billion-dollar profit in 2012.
He did not, however, sell the parking lots that surround the stadium. In 2018, he pitched a gondola that would transport fans from Union Station to Dodger Stadium.
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Five years later, the proposal is still alive, now shepherded by an environmental organization delighted at the prospect of the gondola taking cars off the streets and keeping pollutants out of the air. That Sunset Boulevard billboard and others like it are brought to you by opponents of the gondola, taking aim at the project in part by relentlessly associating it with McCourt.
The Dodgers are guaranteed to play 81 games at Dodger Stadium every year, with playoff games traditionally added in October and concert dates sprinkled throughout the year. That leaves skeptics within the community to wonder why McCourt would promote a gondola ride to a stadium parking lot that would be empty three out of every four days during the year.
Unless, of course, the lot would not be empty.
McCourt’s company, now known as McCourt Global, highlights this slogan: “Building for tomorrow.” McCourt did not sell the Dodger Stadium parking lots because he anticipated building something there, some day.
What might that be? And is the gondola intended to carry us to that day?
The pursuit of those answers took me to Dodger Stadium, to City Hall and to a meeting of MLB owners. First, however, I stopped at a weathered red brick building in the Arts District, an old furniture and fabric warehouse reimagined as a laboratory for energy innovation.
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Three colorful banners greeted visitors, one with the hue of a bright blue sky. “Welcome,” that banner read, “to the Cleantech Future of Power and Water.”
The interior comes alive with vibrancy and urgency, and with work on dozens of concepts. Any one of them, building managers say, could emerge as “the next big idea to fight climate change.”
The Dodger Stadium gondola represents such an idea, according to its proponents. Climate Resolve, a nonprofit based in that building, agreed to take the reins from McCourt in leading the project.
“From my perspective,” said Climate Resolve founder and executive director Jonathan Parfrey, “to have a gondola transporting people from Union Station to Dodger Stadium, and to have that exciting, beautiful conveyance identified as a climate action?
“It changes the way people approach public transit. So it was very attractive to us.”
With baseball’s new hurry-up rules, you could miss half the game if you get stuck in Dodger Stadium’s oft-snarled traffic and get to your seat an hour after the first pitch.
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The gondola alternative: get to Union Station, hop aboard a spacious cabin that could arrive every 23 seconds, soar high above the city, and arrive at Dodger Stadium in seven minutes.
The climate benefit is easy to envision: fewer fans in cars powered by gasoline; more fans in gondolas powered by electricity.
A promotional video for the proposed Dodger Stadium gondola project released by Los Angeles Aerial Rapid Transit.
The climate downside is easy to envision too: massive development at Dodger Stadium, with neighborhood disruption for years of construction, and with cars converging upon the stadium every day, not just on game days.
“I’m involved in this project,” Parfrey said, “and I brought my organization into this project, predicated on there not being development on that land.”
Not now, or not ever?
“Not for the foreseeable future,” he said.
Parfrey said he had been given “assurances” that the gondola was not a first step toward Dodger Stadium development. I asked who had given him those assurances, or who I could ask to get those same assurances.
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“Ask Frank,” he said.
Near Lot G at Dodger Stadium, along the long slog from the outer reaches of the parking lots to a stadium entrance behind left field, a colorful model of a gondola cabin awaits you. You can step inside the 24-seat cabin, then imagine a ride that would allow you to skip traffic to the ballpark and instead, as the signage reads: “GET THERE BY AIR.”
You can even find a helpful decal, showing you where to stand to take a picture with the gondola cabin in the foreground and the stadium in the background.
The display of a model cabin takes a page from the playbook for pitching a new stadium or arena. Models and renderings can excite fans, but they also can obscure a critical question about any big project: Looks cool, but who is going to pay for this?
The cost of building the gondola was estimated at $300 million in 2020 and is expected to rise by the time a financing plan is finalized, said David Grannis of Point C Partners, a transportation and land use consultancy working with Climate Resolve.
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The McCourt entity that originated the gondola concept, LA Aerial Rapid Transit, has agreed to fund the approval process, including environmental studies and permit applications, project spokesman Nathan Click said. It is up to Climate Resolve to figure out how to pay for construction, as well as for annual operating costs Grannis estimated at between $5 million and $10 million.
The gondola won’t make money, at least not under the current plan of free rides for fans with a Dodgers ticket and neighborhood residents with a Metro pass.
Parfrey said taxpayers would not be asked to subsidize the gondola.
The hundreds of millions would come from private financing, Grannis said, and largely from sponsorships and the purchase of naming rights.
In 2012, the airline Emirates agreed to pay about $60 million for a 10-year sponsorship of a London gondola — then called the Emirates Air Line — that carried riders above the River Thames and cost $96 million. The current one-way adult fare on the London gondola is $7.50.
“In this case,” Grannis said, “you have a venue that happens to be the best attended in Major League Baseball, and therefore the iconic nature of this cabin flying to Dodger Stadium and taking you there is going to attract a lot of sponsors, a lot of people who want naming rights or sponsorship.
“That’s the big revenue.”
Jeff Marks, the founder and chief executive of Innovative Partnerships Group, brokers naming rights and sponsorship deals between companies and teams, leagues and venues. He said it “could be doable” to cover the cost of building and operating the gondola through corporate sponsorships, but he said even the most generous sponsor might not be willing to strike a nine-figure deal without exposure beyond simply slapping the company’s name on the side of the gondola.
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Marks, speaking generally because he is not involved in the project, said a title sponsor might also want a benefit such as the company name on the field. A hypothetical example: Verizon Field at Dodger Stadium. The Dodgers have hired firms to solicit corporate offers for naming rights to the field and patches on the team jerseys.
Or, Marks said, a primary sponsor might prefer naming rights to whatever development might rise atop the parking lots: Take the Verizon Gondola to the Verizon Village at Dodger Stadium!
Rick Caruso, the developer behind the Grove and Americana shopping and entertainment centers, pursued the Dodgers when McCourt put them up for sale. Caruso commissioned studies on how to improve the notorious congestion for cars getting into and out of the Dodger Stadium parking lots.
Without control of the lots, however, Caruso believed he might not have been able to implement any changes. McCourt insisted he would not sell the lots, and Caruso withdrew from the bidding.
Guggenheim Baseball Management, the winning bidder, took a different approach. Guggenheim, led by Mark Walter and Stan Kasten, bought the Dodgers and their stadium from McCourt. In a separate transaction, a Guggenheim entity formed a joint venture with a McCourt entity to control the parking lots.
In land use documents filed by the joint venture in 2012 and intended to “facilitate the orderly development” of the Dodger Stadium parking lots, the potential property uses cited include homes, offices, restaurants, shops, entertainment venues, medical and academic buildings, a separate sports facility and a hotel and exhibit hall.
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“It is an ill-conceived concept that the highest and best use of Chavez Ravine is 260 acres for parking,” an attorney for McCourt, Tony Natsis, said at the time. “I consider that to be an ill-conceived notion for the owner of the parking lots and the owner of the stadium.”
Walter, the Dodgers’ chairman and controlling owner, said McCourt cannot develop anything on the property without Guggenheim’s consent. What might Walter be thinking in terms of development now?
“I haven’t been thinking about it at all,” Walter said.
Kasten, the Dodgers’ president and chief executive, said the Dodgers support the gondola project but are “really not involved” in it. Walter had a simple explanation for why the Dodgers would back a project that would chew up a chunk of the parking lots in the stadium.
“Hopefully, it will make it easier for people to get there,” he said.
Of the 18,889 parking spaces at the stadium, the gondola station at Dodger Stadium would result in the loss of 194 spaces, according to the environmental impact report for the project.
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To the Dodgers, that would not be a big deal. But this might be: The report projects 10,000 people would ride the gondola to each game by 2042, which could translate to a loss of about 20% of parking revenue.
Kasten called those figures “hypotheticals that I don’t have an answer for,” and project opponents dismissed the ridership projections as unrealistically high, citing a UCLA study.
But a person familiar with the Dodgers’ business model, speaking on condition of anonymity so as not to jeopardize his professional relationships, said the team likely would not agree to give up millions in annual parking fees without some way to recoup that money.
“It does not make sense for the Dodgers to do it if they’re going to lose parking revenue,” the person said. “It does make sense if the gondola is serving a larger development.”
The California Endowment, a nonprofit with offices that would sit beneath the shadow of a 195-foot gondola tower, is leading and largely funding a coalition opposing the project. In court papers, the Endowment cited the Dodger Stadium development proposal McCourt unveiled when he owned the team and alleged the gondola would be “a loss leader for the future development of parking lots at Dodger Stadium.”
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What would Kasten say to Angelenos who would like to know whether the gondola comes first and development comes next?
“That’s a question you’ll have to address to someone else,” Kasten said.
To the people proposing the gondola?
“Yes,” Kasten said. “That’s where I would direct my questions.”
I had. And what had I been told? Ask Frank.
On April 9, 2021, for the first time in 32 years, the Dodgers raised a World Series championship banner. The Dodgers bestowed the honor of hoisting the treasured flag upon five people, including three of their own: Dodgers co-owners Magic Johnson and Billie Jean King, each decorated champions in their own right, and Hall of Fame broadcaster Jaime Jarrín.
The other two: Eric Garcetti, then the mayor of Los Angeles, and Gil Cedillo, then the city councilman representing the district that includes Dodger Stadium.
The Dodgers forged a strong working relationship with Cedillo. The team and nine of its senior executives combined to make $13,800 in campaign contributions to him from 2013 to ‘22, according to city records.
Cedillo lost his bid for re-election last year, defeated by community activist Eunisses Hernandez. Kasten and Hernandez each expressed a desire to work together for the benefit of the fans and the community.
Garcetti, who has backed the gondola from the time McCourt first pitched it five years ago, said the Dodgers never have hinted to him that mass development would be in the works at Dodger Stadium.
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“I think there is a vision of trying to make it less of a once- or twice-a-year kind of a place for a family, when you go to a game,” Garcetti said before he left office last December, “and more of an asset: the best view in L.A., a place for more special events, a place where baseball history can be celebrated.
“I think their core business is baseball, and they want to protect that.”
The environmental impact report does not contemplate development at Dodger Stadium. The report states “no housing units are proposed” as part of the project and “additional approvals requiring further environmental review would be necessary” for any development at the stadium or elsewhere along the gondola route.
For Hernandez, that language is not enough. The councilwoman said she has “a lot of concerns” about the gondola.
“I am not convinced that this is an effective solution to reducing vehicle congestion,” she said, “and I share the neighborhood’s concerns about displacement and disruption.”
Hernandez said she is not necessarily opposed to development at Dodger Stadium, provided affordable housing is a priority. She is opposed to considering the gondola on its own, without any consideration of whether development might follow and what it might involve.
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“I don’t think it’s appropriate to undertake such large-scale projects without a full and clear understanding of long-term plans,” Hernandez said. “This shouldn’t be piecemealed out, and I want to see additional development plans made clear.
“That is the honest approach, and that’s what will allow the community, the city, and all involved entities to make a clear-eyed decision.”
Steve Soboroff, who was the mayoral point man on the construction of Staples Center and later president of the Playa Vista development near LAX, worked briefly with McCourt in the final year of his Dodgers ownership.
Soboroff is not involved in the gondola project. He said the most effective way to build community support for the project would be to offer transparency about the long-term plan, even if the gondola would come first and any development would come later.
“That would be the path that I would choose,” Soboroff said.
It was time for me to do what Parfrey had suggested: Ask Frank.
The Dodgers have prospered without McCourt, and McCourt has prospered without the Dodgers.
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He bought the storied French soccer club Olympique de Marseille. He donated $200 million to what is now called the McCourt School of Public Policy at Georgetown University. He launched Project Liberty, an initiative to reform the Internet in the interest of serving “people, not platforms.”
As McCourt told Leaders Magazine: “Our technology today is great if you want to support autocracy, but it is not so great if you want to support individual rights and the freedoms and liberties assorted with democracy.”
McCourt still owns the Los Angeles Marathon, which starts at Dodger Stadium. During the past two months, as Urbanize LA reported, McCourt entities revealed plans to construct 502 apartments in three buildings on two sites along Stadium Way and another one block south, overlooking the 110 Freeway. The apartment buildings are planned regardless of whether the gondola is approved, said Brin Frazier, a spokeswoman for McCourt.
The applicant for the apartment projects is listed in city records as Jordan Lang, president of two McCourt entities: McCourt Partners Real Estate and Aerial Rapid Transit Technologies.
Lang’s company biography makes no mention of any experience in other transportation projects but touts his leadership in completing “millions of square feet of office, hotel, residential and mixed-use projects.”
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The prospect of developing such a large site on the outskirts of downtown is so rare that the city’s movers and shakers have floated concepts for decades. Caruso and I talked about some of them 18 years ago, long before McCourt put the team up for sale or Caruso ran unsuccessfully for mayor.
Peter O’Malley, the revered former Dodgers owner, proposed building an NFL stadium in the Dodger Stadium parking lot in 1995. McCourt revived the idea in 2005.
The other four MLB teams in California all have pursued mixed-use developments surrounding their ballparks. The Angels’ most recent proposal — since killed by the city of Anaheim amid a corruption scandal — would have included more than 5,000 homes on a site roughly half the size of the Dodger Stadium property.
“We need more housing,” Garcetti said. “We need it to be centrally located. We need it to be affordable. I think, if you meet those criteria, you can start a conversation with the city.”
Or, perhaps, development at Dodger Stadium could mean a selection of food halls, restaurants and bars, enticing enough to lure fans to arrive long before the game and stick around after it ends. That in itself could ease the neighborhood traffic bottlenecks on game days, gondola or no gondola.
Parfrey, who said his nonprofit agreed to take the lead on the gondola project based on what he said was a promise of no development on the land, said his organization would not support a ballpark neighborhood arising on the property but would support a plan to put a restaurant here and there within the parking lot.
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“We would go early and go to the restaurants,” Parfrey said.
Parfrey, remember, was the guy who told me to “ask Frank” about the “assurances” that the arrival of the gondola would not trigger development. I mentioned that to Frazier, McCourt’s spokeswoman, and asked if I could speak to him about that.
“Frank,” she said, “is not available.”
Watch L.A. Times Today at 7 p.m. on Spectrum News 1 on Channel 1 or live stream on the Spectrum News App. Palos Verdes Peninsula and Orange County viewers can watch on Cox Systems on channel 99.
A former employee of nonbank mortgage lender The Change Company, has filed a lawsuit alleging the company founded by former banker Steve Sugarman has mischaracterized home loans in certifications to the Treasury Department.
The lawsuit, filed Tuesday in Superior Court in Orange County, California, was brought by Adam Levine, CEO Sugarman’s former chief of staff. Levine is a former vice president at Goldman Sachs and former assistant White House press secretary in the George W. Bush administration. Before his stint in the White House, he had been a senior aide to Sen. Daniel Patrick Moynihan.
The lawsuit seeks damages for alleged wrongful termination, whistleblower retaliation and breach of contract. It also alleges that Change Co., a community development financial institution based in Anaheim, California that originates loans to minority and low-income communities, has made false representations to investors about the underlying characteristics of the mortgages it securitizes.
The lawsuit states that Levine reached out in March to Change Co. Chairman Antonio Villaraigosa, a former mayor of Los Angeles, and asked for an independent investigation into certain practices and issues at the company. When Levine “reported his concerns to government regulatory authorities,” he was terminated, the lawsuit states.
Alan Wayne Lindeke, Change Co.’s chief legal officer and general counsel, called the lawsuit “without merit.”
“Multiple third-party diligence firms have verified the accuracy of Change Lending’s Target Market data and the corresponding assessment methodology has been verified by outside counsel,” Lindeke said in an emailed statement.
David Lizerbram, a lawyer in San Diego who represents Levine, declined to comment.
Sugarman served as Chairman and CEO of Banc of California before resigning in 2017. He formed a new company focused on originating loans to borrowers with non-traditional credit needs.
In 2018, Change Co. was certified by the Treasury Department as a community financial development institution. CDFIs are government-certified lenders with a mission to provide financing to disadvantaged communities. Because they provide credit and financial services to underserved Black, Hispanic and low-income communities, they are exempt from certain mortgage regulations.
Specifically, CDFIs do not have to abide by the Consumer Financial Protection Bureau’s ability-to-repay rule, which requires that mortgage lenders document a borrower’s income, assets, employment and credit history. Those so-called qualified mortgage rules were put in place after the subprime mortgage crisis in an effort to prevent a reprise of the low-documentation and no-documentation loans that were rampant before 2008.
Change Co. states on its website: “Our regulatory certification enables us to serve prime, creditworthy borrowers who struggle with burdensome documentation requirements.”
In just five years, Change Co. has catapulted ahead of competitors largely because, as a CDFI, it is not bound by traditional underwriting requirements. This year, Scotsman Guide, which ranks mortgage lenders by size, ranked Change as the largest non-qualified mortgage lender in the U.S. with $4.2 billion in lending volume.
The company lends to people “with unpredictable or hard-to-document income,” but looks for compensating factors such as loan-to-value ratios below 80%, Change Co says on its website. Its borrowers have FICO scores above 640 and typically have more than a year’s worth of cash reserves to bridge gaps between paychecks, the website states.
All CDFIs have to demonstrate that they are serving at least one eligible target market — either a specific area or targeted population. They are required to provide annual certification and data collection reporting to the Treasury Department, attesting that 60% of their loans, both in number and dollar volume, are made to target markets.
In the lawsuit, Levine claims that he has documentation showing that the company is “mischaracterizing the race, ethnicity, and income level of borrowers,” and that it “falsifies information on its annual certification by mischaracterizing its loans.”
CDFIs represent a regulatory tradeoff. They are exempt from some government requirements to collect borrowers’ income documentation, which can be difficult for both the lender and the customer and can eliminate the ability to serve borrowers who don’t have a stable job or whose income comes from a business they own.
A company that wasn’t bound by these underwriting restrictions could shoot ahead of peers that were subject to the rules, so to compensate, CDFIs are required to restrict the majority of their lending to demographic groups considered underserved. If a CDFI was not following the rules and sticking to its target population, it would essentially operate as an untrammeled lender while its competitors were tied to stricter underwriting regulations.
Mortgage lenders typically bundle their loans and resell them to investors as residential mortgage-backed securities. The lawsuit alleges that Change Co. “makes false representations” to the buyers of its mortgage-backed securities “by mischaracterizing the underlying loans.”
“These misrepresentations are material, as many investors choose CDFI securitized products as part of a broader policy that promotes socially responsible investing,” the lawsuit states. “For example, investors who believe they were supporting loans to low-income members of the community would not choose to purchase a [Change Co.] security if they knew that the company falsely characterized its loans to wealthy individuals and even celebrities as low-income loans.”
Change Co. and its subsidiary Change Lending closed a $307 million securitization of home loans in June. The company said at the time that since becoming a CDFI five years ago, it has funded over $25 billion in loans to more than 75,000 families.
Today we’ll profile another Southern California-based mortgage lender, Ladera Lending, which recently landed in LendingTree’s top-10 list for customer satisfaction.
Despite being around for slightly longer than a decade, they managed to fund nearly a billion in home loans last year.
And they accomplished this feat while only working in about a dozen states, which is all the more impressive.
Their past customers seem to love them if their reviews are any indication, so let’s learn more.
Ladera Lending Quick Facts
Direct-to-consumer mortgage lender that offers home purchase and refinance loans
Founded in 2007, headquartered in Ladera Ranch, CA
Licensed to do business in 14 states
Funded roughly $800 million in home loans last year
About half a billion came from home state of California
Specialize in mortgage refinances for existing homeowners
Ladera Lending is a direct-to-consumer mortgage lender that offers home purchase loans and refinance loans.
The name comes from the city in which they do business, Ladera Ranch, CA, which is located in Orange County near Laguna Niguel.
For the record, the word “ladera” means hillside in Spanish.
In case you weren’t aware, Orange County is a mortgage stronghold and home to many other large mortgage lenders, including New American Funding and Owning.
Anyway, Ladera Ranch is decidedly a refinance lender, seeing that about 95% of their total volume came from mortgage refinances as opposed to home purchase loans.
As such, they might be a good pick for existing homeowners as opposed to those still renting.
At the moment, they’re licensed to do business in just 14 states, including: AZ, CA, CO, FL, MD, MA, NJ, NV, NC, OR, TN, TX, WA, and WY.
How to Apply for a Home Loan with Ladera Lending
You can apply directly from their website without human assistance
Their digital mortgage loan experience is powered by Ellie Mae
Allows you to eSign disclosures, scan/upload documents, and link financial accounts
Homeowners can check loan status 24/7 via the borrower portal and get real-time updates
You can apply for a home loan directly from the Ladera Lending website by clicking on “Apply.”
That will take you to their digital mortgage application powered by Ellie Mae, which allows you to complete many tasks electronically, like eSigning disclosures and linking bank accounts.
They’ll ask if you’re currently working with a loan officer – if yes, they’ll provide a drop-down list, if no, you’ll simply move on and one will be assigned to you.
To that end, they have a loan officer directory on their website if you’d like to hand-select someone based on customer reviews or a referral. It might be a good idea.
At the moment, Ladera seems to have about 75 loan officers working for them.
Anyway, once your loan is submitted, you’ll be able to check loan status and get real-time updates by logging into the loan portal 24/7.
You can also get in touch with your lending team at any point if you have questions or need assistance.
Because they’re paired up with Ellie Mae, a top fintech company, the home loan experience should be relatively easy to complete.
They also come highly-rated, so their loan officers should also be helpful, well-versed in mortgages, and make the process very customer friendly.
Loan Programs Offered by Ladera Lending
Home purchase loans
Home renovation loans
Refinance loans: rate and term and cash out
Conforming loans backed by Fannie Mae and Freddie Mac
Jumbo and super jumbo home loans
FHA, USDA, and VA loans
Reverse mortgages
Fixed-rate and adjustable-rate options with 5 to 30 year terms available
Ladera Lending keeps their product offerings pretty basic, though they should have enough to satisfy most homeowners out there.
As noted, they offer both home purchase loans and refinance loans, with the latter being their specialty.
That means you can get a rate and term refinance, a cash out refinance, or even a streamline refinance.
They lend on all property types, including single-family homes, condos/townhomes, and multi-unit properties from 1-4 units, along with vacation homes and investment properties.
Like everyone else, they offer conventional, conforming home loans backed by Fannie Mae and Freddie Mac.
Additionally, they offer jumbo home loans that exceed the conforming limit, which makes sense since they’re located in pricey Southern California.
They actually offer so-called super jumbos, with loan amounts as high as $2.5 million.
In addition, you can get a home renovation loan such as a FHA 203k loan or a Fannie Mae HomeStyle loan.
Lastly, they offer reverse mortgages via the FHA’s HECM loan program for seniors aged 62 and older.
In terms of available loan programs, you can get a fixed-rate mortgage such as a 30-year or 15-year fixed, or an adjustable-rate mortgage, including 5/1 and 7/1 ARMs.
Ladera Lending Mortgage Rates
While they have a section on their website titled “today’s rates,” it merely directs you to an online lead form that you must fill out to get a call back from a loan officer.
At that point, someone will contact you to discuss loan options and pricing. This is a slight negative since it’s nice to see mortgage rates just to get an idea of pricing.
But it doesn’t mean their rates are good or bad – you’ll just need to speak to someone first to find out.
My assumption is they are quite competitive since they do so many refinance loans, which are very interest rate-sensitive.
Additionally, past customers have indicated that their rates and fees were low in their many online reviews.
With regard to lender fees, that’s also a bit of a question mark since they don’t list them on their website.
So we don’t know if they charge an application fee, loan origination fee, etc.
Be sure to ask when you inquire about mortgage rates to get the full picture, which collectively makes up the mortgage APR.
Ladera Lending Reviews
Ladera Lending has a solid 4.9-star rating out of 5 on LendingTree from more than 3,300 customer reviews.
They also have a 99% recommend rating and made it into the top-10 for customer satisfaction in the third quarter of 2020.
Both interest rates and fees/closing costs were deemed excellent on the review site, along with responsiveness and customer service.
On Google, it’s the same story – a 4.9-star rating based on more than 1,000 customer reviews, which is obviously quite excellent.
Once again, a 4.9-star rating on SocialSurvey from more than 4,300 reviews, which tells us they are uber consistent across several ratings sites.
At Zillow, they have a slightly lower 4.77-star rating from more than 260 reviews, which is still great. Lots of those reviews indicated that interest rates and closing costs were lower than expected.
Lastly, they have an ‘A+’ Better Business Bureau rating and have been an accredited company since 2012.
Somewhat shockingly, Ladera also boasts a 4.86/5 BBB rating based on customer reviews, which is pretty unheard of. Usually, customers only go to the BBB website to complain.
In summary, Ladera Lending seems to be making their customers very happy on a consistent basis, which is very impressive given the number of reviews out there.
Assuming their mortgage rates and closing costs are also low, they could be a good choice for an existing homeowner looking to refinance their mortgage.
Ladera Lending Pros and Cons
The Pros
Can apply for a mortgage directly from their website without a human
Offer a digital mortgage loan experience powered by Ellie Mae
Plenty of loan programs to choose from including jumbo loans and reverse mortgages
Excellent customer reviews across all ratings websites
A+ BBB rating, accredited business
Free mortgage calculators
The Cons
Only licensed to do business in a handful of states
Growing up in Orange County in the late 1970s, KL DeHart often wandered the Westminster Mall with her mother, checking out the latest fashions and seeing what movies were playing.
As a teenager, she spent many weekends there with friends playing pinball and skeeball at the arcade and shopping for trendy Chemin De Fer jeans.
Now, the mall is pocked with empty storefronts. At the remaining businesses, employees eagerly jump to help the few customers passing through.
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What may rise in its place, if developers and city officials have their way, is a new kind of mall, one that will include lawns, walking trails and thousands of apartments.
“It was the hip place to be, and it’s really faded out, but it’s just sad to see it go,” said DeHart, a 55-year-old massage therapist who still lives near the mall, in the house she grew up in. She is among the residents worried that the new apartments will increase traffic while doing little to solve the region’s affordable housing crisis.
In Orange County, the San Fernando Valley and suburbs throughout America, the mall was a gathering spot where there were few other places to hang out. It was where kids stocked up on the latest fashions and roamed in packs after school, spawning the term “mall rat.”
The 1980s cult classic “Fast Times at Ridgemont High” began and ended at the mall where the teens worked. In the 1995 film “Clueless,” a Beverly Hills teen retreated to the mall, which she described as a “sanctuary,” after failing to persuade a teacher to boost her grade.
Now, teenagers text with their friends and make TikTok videos. Their parents are more likely to shop online than at a brick-and-mortar store.
At the same time, Orange County is desperate for housing, with rents and home prices escalating and state laws requiring cities to zone for new construction. In a region where there is little undeveloped land and neighbors are likely to push back at new housing, some see declining malls as ideal places to build.
The Westminster Mall is “probably one of the largest areas of developable space that still exists in our time in this area,” City Manager Christine Cordon told the City Council during a meeting last November.
Cordon remembers taking the bus to the mall decades ago to pick out CDs at Best Buy.
“You’re too young as a teenager to hang out in an actual nightclub, so back in the day, where would you go? The mall,” said Karen North, a USC professor who specializes in social media and psychology.
“It became this default place to go because it had something for everybody. You never knew who you were going to bump into, but you were always guaranteed there was something going on and there would be people around.”
As envisioned in a plan adopted by the City Council last year, the new mall would contain at least 600,000 square feet of retail space. It would include up to 3,000 residential units and up to 425 hotel rooms, surrounded by a park with 17 acres of green space.
Teenagers could still hang out there — it just wouldn’t be the echoey indoor turf that Alicia Silverstone claimed in “Clueless.”
Orange County is catching on to a trend that has already taken hold farther north in the Los Angeles area, led by developer Rick Caruso with his Americana at Brand and Palisades Village malls and residences.
“This is really our opportunity to create something that we can be absolutely proud of for the next generation to create those same fond memories that I have and that others have in a fashion that is consistent with what the times are now,” Cordon said.
Bill Shopoff said his company, which purchased the Macy’s store and the former Sears store in the Westminster Mall last year, hopes to draw people back with shops, a hotel, townhouses and apartments.
Upscale malls like South Coast Plaza are thriving because “they have entertainment, food, there’s a reason to go there,” said Shopoff, president and CEO of Shopoff Realty Investments. “I think we need to do that in Westminster to create a sense of something.”
As for who will rent or purchase the homes in his preliminary plan, Shopoff is counting on a modern type of suburban dweller — one who would rather walk to restaurants and other amenities than live in a single-family home with a yard.
Experts say that new laws, along with increased pressure from the state to build more homes, have convinced some local officials who might have been resistant to rezoning commercial properties in the past.
Roughly every eight years, California cities are assigned a certain number of new housing units they’re required to zone for. As part of the 2020 assessment, Orange County needs to make space for about 183,000 new units, shared among all its cities.
Last year, Gov. Gavin Newsom signed two pieces of legislation aimed at spurring housing development in corridors otherwise zoned for large retail and office buildings.
“Whether you want to call Orange County urban suburbia or suburban urbanism, it’s definitely shifting,” said Elizabeth Hansburg, co-founder and executive director of People for Housing Orange County. “We have an interesting mix of historic districts and tract housing of the ’40s, ’50s, ’60s and even the ’70s, but I don’t see us building like that again. It’s going to be interesting to see how families evolve in denser spaces.”
Elsewhere in Orange County, similar mall conversions are at various stages.
In Santa Ana, a 309-unit apartment complex is under construction on the parking lot of the Mainplace Mall, part of a larger project that will include more apartments, restaurants, courtyards and a music venue.
Simon Property Group has said it is open to adding residential zoning to its mall in Mission Viejo. In Brea, the company has proposed redeveloping 15.5 acres of the mall to include shops, a resort-style fitness center, apartments and a large central green space.
A proposal to redevelop the Village at Orange mall to include housing along with retail has run into stiff opposition. Residents are voicing concerns about tall residential buildings looming above nearby single-family homes.
In Westminster, DeHart said that she and her neighbors who live in tract homes adjacent to the malls are not “NIMBYs” — an acronym for “Not In My Backyard.”
“That’s not what this is,” she said. “We’re asking legitimate questions, and we’re not getting answers.”
In Laguna Hills, the mall is being repurposed along the lines of Caruso’s Los Angeles-area developments, with up to 1,500 apartments, an upscale hotel, commercial office space and 250,000 square feet of stores surrounding a large green space.
On a recent day, a chain-link fence wrapped with a blue tarp surrounded the partly demolished main building, with the “Laguna Hills Mall” lettering barely legible.
A sign affixed to the fence featured a rendering of the new homes, asserting that “a brighter future is coming soon.”
Residents have voiced concerns similar to those of DeHart and her neighbors — traffic, overcrowding. But Laguna Hills Mayor Janine Heft said a change is needed.
“There’s a lot of nostalgia for what the mall used to be,” Heft said. “What we didn’t want was a blight, and that’s really what we had. We had this mall that hadn’t been kept up in years.”
On a recent afternoon, most of the sprawling Westminster Mall was deserted. The only activity was at an indoor playground near JCPenney.
Corrie Essex watched her 5-month-old son playing on a blanket as rain pounded on the glass ceiling.
She grew up in the San Fernando Valley and recalls listing the Northridge Mall as one of her favorite places in an elementary school assignment. Her mother took her and her siblings there to get burgers and go to the movies — a relatively inexpensive way to keep four kids occupied.
“We’d go all the time,” said Essex, 30, who now lives in Huntington Beach. “It was fun. Now, I hate the mall. It’s just not the same. Nothing’s beautiful anymore.”
But on a rainy day like this one, it was a good place to take her son. And, noted her sister, 27-year-old Jessie Lane, there’s little danger of spending money — “it doesn’t have any bougie stores that we would want to buy anything from.”
Their mother, 57-year-old Rachel Lane, said she likes the idea of adding housing to malls.
But with the new outdoor designs, she wondered, “Where are we going to go when it rains?”
If you’re considering a move to Huntington Beach, California, it’s important to weigh the pros and cons before making a decision. Known for its iconic beaches, surfing culture, and laid-back lifestyle, Huntington Beach offers a unique living experience. Whether you’re looking to buy a home in Huntington Beach or rent an apartment, we will explore in this Redfin article ten key aspects to help you determine whether Huntington Beach is the right place for you.
1. Beautiful beaches and outdoor activities
Huntington Beach is famous for its stunning beaches, with miles of pristine coastline and excellent surf breaks. Whether you enjoy sunbathing, swimming, surfing, or simply taking a leisurely walk along the shore, the beach lifestyle is a major attraction in Huntington Beach. You can also engage in various outdoor activities like beach volleyball, biking along the boardwalk, or exploring the Bolsa Chica Ecological Reserve, a coastal wetland with abundant wildlife.
2. Active outdoor community
With its year-round pleasant climate, Huntington Beach encourages an active and healthy lifestyle. The beach offers opportunities for jogging, yoga classes on the sand, and outdoor fitness activities. The city also has numerous parks, like Bauer Park and Seabridge Park, trails, and recreational facilities for sports enthusiasts, including golf courses, tennis courts, and skate parks.
3. Vibrant surfing and water sports culture
Huntington Beach is often referred to as Surf City USA due to its deep-rooted surfing heritage. The city hosts prestigious surfing events, such as the US Open of Surfing, attracting world-class surfers and enthusiasts from around the globe. If you’re a fan of water sports or want to learn how to surf, Huntington Beach provides an ideal environment for you to embrace the surf culture.
4. Frequent cultural events and festivals
Huntington Beach hosts a variety of cultural events and festivals throughout the year, adding vibrancy and entertainment for those in the city. From the annual California Wine Festival to the Surf City Nights weekly street fair, you have access to a diverse range of cultural experiences and celebrations. These events showcase local talent, art, music, and culinary delights, providing opportunities for you to engage in the local community and enjoy unique cultural offerings.
5. Diverse dining and entertainment options
Huntington Beach boasts a vibrant dining and entertainment scene, catering to a variety of tastes and preferences. From casual beachfront eateries to upscale dining establishments, the city offers a diverse range of culinary experiences. Additionally, Downtown Huntington Beach, also known as Main Street, is lined with shops, boutiques, restaurants, and bars, providing plenty of options for entertainment and nightlife.
6. High cost of living
One of the main drawbacks of living in Huntington Beach is the high cost of living. The desirable beachfront location and proximity to major cities contribute to elevated housing prices and overall expenses. Current homes in Orange County cost 51% more on average than the national average, making it challenging for some to find affordable housing options in desirable areas. For example, the median home sale price as of June was $1,020,000 versus a national average of around $408k, and rentals currently going for about $2,900 on average versus $1,393 nationally. It’s important to carefully consider your budget and financial situation before committing to living in Huntington Beach.
7. Expect crowds of tourists during summer
As a popular beach destination, Huntington Beach experiences a significant influx of tourists during the summer months. While this brings economic benefits to the city, it can also result in crowded beaches, parking difficulties, and longer wait times at local establishments. If you prefer a more peaceful and less congested environment, the tourist season may be a factor to consider.
8. Limited public parking
Also, with its popularity as a beach destination, finding public parking in Huntington Beach can be a challenge, especially during peak seasons and weekends. The limited availability of parking spaces near popular beach areas and downtown can be difficult. Residents may need to plan accordingly or explore alternative transportation options to navigate the parking situation effectively.
9. Potential for coastal hazards
Living in a coastal city comes with the risk of coastal hazards such as flooding, erosion, and coastal storms. Although Huntington Beach has protective measures in place, such as seawalls and sand replenishment programs, it’s essential to be aware of the potential risks associated with living near the ocean and stay informed about emergency protocols.
10. Traffic congestion
Like many cities in Southern California, Huntington Beach experiences traffic congestion, particularly during peak commuting hours. The proximity to major highways and popular tourist attractions can contribute to increased traffic volume. It’s important to consider the potential commute times and traffic conditions when planning your daily activities.
Deciding whether Huntington Beach is a good place to live really boils down to your own personal preferences, lifestyle, and priorities.Does Huntington Beach align with what you are looking for as a place to live?
With a name like LowRates, you would expect their mortgage rates to be, low, right? Well, that’s the hope at least.
The good news is they post their mortgage rates on their website and update them daily. So you won’t have to guess or call them first to see where they stand.
You may have come across them while comparing mortgage rates online as they tend to advertise quite a bit on comparison websites.
If you’re wondering who they are, the company is actually the techy division of a larger mortgage lender called Sun West Mortgage Co., based out of Buena Park, CA (near Knott’s Berry Farm).
LowRates Mortgage Fast Facts
Retail direct-to-consumer mortgage lender
Offers home purchase loans, refinance loans, reverse mortgages, and more
Parent company is Sun West Mortgage Company, Inc.
Founded in 1980, headquartered in Buena Park, CA
Licensed to lend in 48 states, DC, Puerto Rico, and the US Virgin Islands
Sun West originated roughly $2 billion in home loans last year via retail channel
Also operates correspondent and wholesale lending divisions
While the LowRates name might be catchy, it’s actually just the consumer-facing online lender division of a much bigger company, Sun West Mortgage.
This is similar to Lower Mortgage, which is the online division of Homeside Financial.
Sun West Mortgage has been around a real long time, more than 40 years to be exact, but LowRates only seems to have come on the scene around 2013.
The parent company is located in Buena Park, CA (Orange County), while it appears LowRates is building out its corporate headquarters in Charlotte, North Carolina.
They operate as an online mortgage lender, meaning you can apply for a home loan remotely, whether you want to do so by phone or online.
Their loan menu appears to be vast, so you can get anything from a home purchase loan to a reverse mortgage and everything in between.
How to Apply for a Home Loan with LowRates
You can apply for a mortgage by phone or online
Once you fill out the application you’ll be matched with a loan officer
This individual will discuss available loan options and pricing
LowRates says it has fast turn times and can offer 20-day loan closings in some cases
LowRates says it offers a “24-hour loan center” for those who don’t have time to apply for a mortgage during regular business hours.
It’s unclear if this a human-staffed situation, or simply an online form that can be accessed at all hours. I’m going with the latter.
Anyway, your first step is to fill out the loan application, which can be done online or by phone.
If you visit their website, simply click on “Apply Now” to get started. This will send you to their online mortgage application, which requires you to provide personal and property information.
Once completed, you’ll be paired with a mortgage loan officer who will assess your financial situation and suggest loan options. They will also discuss loan pricing with you.
However, it might be better to get pricing first by calling them up, then only apply if you’re happy with what you see/hear.
While it’s unclear how the rest of their loan process works, they do have an online loan portal borrowers can use to manage their loan, upload required documents, and check status 24/7.
Additionally, they aim to close loans fast and say they’ve got some of the best turn times in the industry thanks to their embrace of technology, with 20-days closings possible in some cases.
Loan Programs Available at LowRates.com
Home purchase loans
Refinance loans: rate and term, cash out, and streamline
Home renovation loans and new construction loans
Conventional loans backed by Fannie Mae and Freddie Mac
Government-backed mortgages: FHA, USDA, and VA
Jumbo home loans
Fixed-rate mortgages: 10, 15, and 30-year loan terms
Adjustable-rate mortgages:
LowRates appears to have a very complete lending menu, with everything from home purchase loans to construction/renovation and reverse mortgages.
You can get a conforming home loan backed by Fannie Mae and Freddie Mac, or a jumbo loan that exceeds the conforming loan limit if the subject property is pricey.
They provide financing on primary residences, vacation homes, and investment properties, so you should be covered regardless of property type and occupancy.
With regard to loan type, you can get a fixed-rate mortgage in a variety of different loan terms (including a 10-year fixed mortgage), or an adjustable-rate mortgage, such as a 5/1 or 7/1 ARM.
You shouldn’t be limited in any way when it comes to mortgage loan choice, which is a plus.
LowRates.com Mortgage Rates
The good news is LowRates actually posts its daily mortgage rates online, which a lot of mortgage companies do not.
I suppose they kind of have to, given their name, but I’m glad they do because that boosts their transparency score.
Anyway, at the time of this writing, their mortgage rates appeared to be pretty competitive relative to other lenders across all loan types, including conventional, FHA, and VA.
Their conventional rates had the same interest rate and APR, meaning LowRates doesn’t charge lender fees, at least on those particular loan scenarios.
So taken together, their rates look pretty good, seeing that you don’t need to pay mortgage discount points or other fees to obtain them.
Either way, you can see their rates for yourself if and when you visit their website, then compare them to other lenders you’ve got your eye on.
Make sure you consider both the rate and APR to get an apples-to-apples comparison.
While LowRates doesn’t seem to tack on points to their loans, it’s unclear if they charge other things like a loan origination fee, underwriting/processing, and so on.
LowRates Reviews
First off, their parent company Sun West has a very solid 4.8-star rating on Google from more than 1,600 customer reviews.
On Zillow, LowRates specifically has a 4.94-star rating out of 5 from roughly 125 customer reviews, which makes them close to perfect.
Additionally, a good portion of those reviews indicated that the interest rate was lower than expected, a good sign given their name.
On Bankrate, the company has a 4.6-star rating from about 65 reviews, which while not a large sample size, is at least very positive.
Their parent company is Better Business Bureau accredited and has been since 2018, and currently holds an ‘A+’ rating based on its history of customer complaints.
It’s also got a 4.69/5 rating on the BBB website, which is impressive since BBB customer reviews are often quite poor.
All in all, LowRates seems to have quality feedback from customers, though the sample size could be larger, and hopefully will grow over time.
They are backed by a billion-dollar mortgage lender and appear to have an extensive menu of loan programs available.
Assuming both mortgage rates and customer service are good, they could be a good choice for your home loan needs.
LowRates Mortgage Pros and Cons
The Good
Presumably offer very competitive mortgage rates
Their rates are advertised daily on their website
Do not charge borrowers an application fee
They offer 20-day loan closings (fast turn times)
You can apply directly from their website without human interaction
Offer a ton of different loan programs
Excellent customer reviews
A+ BBB rating for their parent company
They service their home loans (as opposed to transferring them)
Free mortgage calculators and home buyer’s guide on their website