More than one hundred Los Angeles real estate VIPs came together in Beverly Hills in early July to talk about luxury development in the Palisades and beyond. Hosted by BSH at their Beverly Hills Experience & Design Center, the evening featured a probing panel discussion from leading Angelino developers and designers followed by a round of cocktail-fueled networking.
“We’re sitting at a crossroads in Los Angeles,” opened panel moderator Ben Belack, Director of Residential Estates at The Agency. “For those of us in the real estate and design world, the question isn’t just ‘What can we build?’ It’s ‘Can we build here? Should we build here?’”
Arya Group’s Ardie Tavangarian is out to prove that, in the wake of the latest round of wildfires, Angelinos can rebuild their neighborhoods better than before.
“I have the prototype that’s coming on board before the end of the year,” he told the crowd. “It’s essentially a fully fire-resistant home.”
Garrett Lee, President of Jamison Properties, described how his company is tackling the city’s housing shortage by converting underutilized office buildings into residential.
“Housing is needed, and office is not needed as much anymore,” he said. “So we’ve been using the adaptive reuse ordinance to convert a lot of those now vacant, or close to vacant, buildings to residential apartments.”
Despite rising labor costs and flat demand, the panelists were bullish about LA’s prospects for a couple of reasons. On a national level, the looming dropoff in new deliveries is poised to spur rent growth; on a local level, LA’s unique creative heritage gives the city a leg-up when it comes to reinvention.
“The creatives here are on the forefront of these emerging industries,” said Chris Pozil, Senior Project Manager at McClean Design. “LA always bounces back, and so we’re very optimistic about what’s coming.”
During the cocktail hour that followed, the VIPs were equally enthuastic about the city they love. Inspired by the panel discussion, the attendees talked about innovative approaches to fire mitigation, adapting development strategies to the current construction and financing environments, and the recent rollback of CEQA. Tavangarian’s fire-resistant protoype raised the most eyebrows, as VIPs enthused over its potential to revolutionize the next phase of Los Angeles luxury homebuilding.
“What Ardie’s doing for LA is important,” said Ben Bacal, Founder of Revel Real Estate. “I love that all three of them are super bullish.”
The evening’s setting also sparked discussion, as attendees explored the many interactive displays featuring the diverse range of appliances available from the Bosch, Thermador and Gaggenau brands. Whether they touched the door of a Gaggenau refrigerator to reveal the desserts hidden within or brewed a shot of espresso using a built-in Bosch coffeemaker, everyone had a hands-on experience with a BSH appliance.
“I can feel the good energy in LA,” said Charles Cote, Regional Builder Sales Manager at BSH. “There are so many opportunities, from rentals to high end construction and everything in between. With our three brands, we can service all those markets all at once.”
If you missed this event, don’t worry; BSH and The Real Deal will be in Houston on October 16 for the next entry in our Building Luxury series. Learn more about the event and apply to attend here.
As TRD’s Exclusive Appliance Partner, BSH brings innovation and design excellence to the forefront of the real estate conversation. Visit the Appliance Hub to learn more about Bosch, Thermador and Gaggenau.