Last night we happened to be in Seattle and snapped Holland Partners founder Clyde Holland, who literally 15 minutes before had closed on the acquisition of a 4.25-acre site at Sixth and Bixel in downtown LA where he'll be developing 642 apartments. Right off Wilshire and the 110, 600 units will be new and 42 will be a rehab of the oldest medical office building in SoCal. Demo will start immediately and vertical construction in March.

Clyde gives true credit to Tom Warren, his SoCal chief who's been working on the project seven years. It's called Good Sam, after Good Samaritan Hospital, and Clyde's excited given what he says is a huge deficit of professional workforce housing for the growing jobs in the submarket. In Seattle, Clyde is among the most active and respected of multifamily developers.