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Sizing Up Construction Trends In LA

High rents and increasing construction costs were hot topics at Bisnow’s recent LA Annual Construction and Development Forum.

LA Construction and Industrial Forum
Hazens Group executive project director Sonnet Hui (far left) said her firm takes a long-term and short-term approach and believes there is a strong demand for residential and mixed-use.
 
JH Snyder senior partner Michael Wise (far right) told the crowd that with the increase in construction costs, you can have as much demand as you want but it's no help if people can’t pay the rent.
 
He said the hope is rents catch up to construction costs.
 
Gelt principal Steve Wasserman (center) said his firm is optimistic about its current projects.
LA Construction and Industrial Forum

DPR Construction has seen the impact on both sides, said operations manager and regional business unit leader Scott Carriveau (right).

It can be challenging sometimes for Asian investors because many do not know how to bring their money overseas and are not familiar with the local rules and regulations, according to the Code Solution entitlement and land use consultant David Park (left).

Tyson Strutzenberg

Rising Realty Partners COO Tyson Strutzenberg moderated the panel.

LA Construction and Industrial Forum

Around 250 commercial real estate professionals flocked to the Montage Beverly Hills for the event.