Rick Caruso Calls for Turnaround of LA Amid Political Speculation

Real estate developer Rick Caruso has intensified his critique of Los Angeles' current state, fueling speculation about his potential return to politics. In a recent post on X (formerly Twitter), Caruso stated, "LA is not okay. People are losing hope in their own city and that should concern all of us. It's time to fix this. It's time to turn LA around." ​

These comments came shortly after Caruso participated in a Pacific Palisades community Zoom meeting, where he criticized the city's handling of rebuilding efforts in areas affected by January's wildfires. During the meeting, Caruso expressed his passion for public service but deferred questions about his political ambitions, indicating he would make a decision after summer. He emphasized his current focus on his nonprofit organization, Steadfast LA. ​

LA County Housing Head's Resume Under Scrutiny

Ryan Johnson, interim CEO of the Los Angeles County Affordable Housing Solutions Agency, announced he would not seek the permanent position upon his contract's expiration this fall. The Los Angeles Times reported that Johnson's decision coincides with questions about the accuracy of his resume, including allegations of inflated accomplishments. Johnson cited the need for a schedule that allows him to care for a sick family member as his reason for stepping down. 

Westminster Mall Listed for Sale

Washington Prime has put its stake in Westminster Mall up for sale, aiming to revitalize the property through redevelopment. Shopoff Realty Investments, already owning 26 acres of the mall, plans to develop a mixed-use project named Bolsa Pacific at Westminster, featuring apartments, townhomes, a hotel, park, restaurants, and retail spaces. ​

Wedbush Center Faces Financial Challenges

Cerberus Capital Management, owner of the Wedbush Center at 1000 Wilshire Boulevard in downtown Los Angeles, missed a deadline to pay off a $128 million loan, resulting in the property entering special servicing. Occupancy is currently at 75%, but is expected to decline further when Wedbush Securities vacates the building upon lease expiration in December. ​

Residential Brokerage Movements

In residential real estate, Paul Salazar departed Hilton & Hyland after 16 years to join Compass' Beverly Hills office, bringing his four-person team along. Additionally, Shana and Emila Tavangarian, daughters of developer Ardie Tavangarian, transitioned from Beverly Hills Estates to Carolwood Estates, bringing with them the $177 million Villa Siena listing, which will continue to be co-listed with Branden and Rayni Williams of Beverly Hills Estates. 

Sources:

• Kari Hamanaka, "Rick Caruso Calls for Turnaround of LA," The Real Deal, April 19, 2025.

• Los Angeles Times, "Concerns cast on LA County housing head’s resume," April 2025.​