May 04, 2005
UCLA Anderson Ziman Center Conference Focuses on Mixed Use Development
Recognizes Opportunities in Latino Marketplace
LOS ANGELES - Oscar De La Hoya spoke passionately of the need for urban revitalization at the UCLA Anderson Richard S. Ziman Center for Real Estate’s annual conference, held Thursday, April 28 at the Skirball Cultural Center in Los Angeles. “Quality of life starts with the neighborhoods,” De La Hoya said. “Safe streets, clean streets where kids can play are universal aspirations. The opportunity is there to revitalize the Latino community.” Known primarily as boxer who earned championships in six different weight classes and for his Olympic gold medal, De La Hoya is also a businessman and president of Golden Boy Enterprises.
The opportunity existing in the Latino community for real estate developers was laid out in another of the conferences presentations called “The Latino Market – An Overview.” Prof. David E. Hayes-Bautista, director of the UCLA Center for the Study of Latino Health and Culture” and author of El Nuevo California – The Latino in the Golden State, presented detailed demographic evidence that not only is the Latino population growing at rates that exceed other ethnic groups in California and in Los Angeles, but that the detailed demographics show a remarkable similarity to the post-World War II Non-Hispanic White population of the 1950s.
Mixed-Use: New Opportunities in the Urban Environment
In a series of panels and breakout sessions, the rest of the conference focused on the growing trend of mixed-use real estate development. Mixed-use real estate, which combines retail and residential development, is commonplace in many American and international cities, but less common in Southern California. But the practice is starting to become part of the local discourse, as both government and developers seek to manage growth and revitalize dormant neighborhoods.
One such project currently in negotiations is located on and around Grand Avenue in downtown Los Angeles. The area was the subject of the 2004 National Association of Industrial and Office Properties (NAIOP) sponsored Real Estate Challenge, won by UCLA Anderson students over students from USC’s Marshall School. At this year’s Ziman Conference, Laurie Smith (’05), one of the students on that team, presented her winning concept on a panel that also included William Witte, president of The Related Companies of California. Witte’s firm is currently working with the Grand Avenue Authority to develop the Grand Avenue site.
After listening to Smith’s presentation, Witte offered his endorsement of the UCLA Anderson plans and noted the striking similarities between the actual plans his company has created and the theoretical design of Smith and her team. “They captured the essence of how we approached the project,” Witte said. “The development of the area is not just a series of buildings. That approach will repeat the failures of the past. Only a comprehensive approach leads to success.” Both the actual and theoretical designs featured mixed-use buildings with condominiums, apartments, hotels and retail space. Both made use of existing open spaces for parks and pathways, both recognized the need for entertainment destinations (concert halls and movie theaters) to attract non-residential users of the area, and in more than just a coincidence, both even saw the need for an “iconic tower” that would come to symbolize the area.
About The Richard S. Ziman Center for Real Estate
Since its inception in 1999, the primary objective of the Richard S. Ziman Center for Real Estate at UCLA Anderson School of Management has been to provide the real estate community with leading economic and demographic research, including an annual multi-family housing forecast that provides a quantitative and qualitative overview of the Los Angeles apartment market. Conferences held by the Ziman Center bridge the divide between research and practice, providing participants with strategies and information on which to base critical policy and business decisions.
About UCLA Anderson School of Management
UCLA Anderson School of Management is perennially ranked among the top-tier business schools in the world. Award-winning faculty renowned for their research and teaching, highly selective admissions, successful alumni and world-class facilities combine to provide an extraordinary learning environment. UCLA Anderson constituents are part of a culture that values individual vision, intellectual discipline and a sense of teamwork and collegiality.
Established in 1935, UCLA Anderson School of Management provides management education to more than 1,400 students enrolled in MBA and doctoral programs, and some 2,000 executives and managers enrolled annually in executive education programs. Recognizing that the school offers unparalleled expertise in management education, the world's business community turns to UCLA Anderson School of Management as a center of influence for the ideas, innovations, strategies and talent that will shape the future.