Saturday, May 14, 2022

Westwood Running on Empty

The Westwood Village Improvement Association is on a campaign to change the plan for Westwood to make it easier for businesses to operate. Yours truly spotted an ad on Facebook to obtain signatures and letters to the LA City Planning Commission to that effect.* I can't provide more details, nor do I have information on the validity of the concerns. However, the Association reports a vacancy rate of 39.4% in retail stores in Westwood as of the last quarter of 2021, which a stroll down Westwood Blvd. and on other local streets suggests is true. 

Even before the pandemic, there were a lot of vacancies. It was never clear why property owners did not face market reality and cut rents sufficiently to attract tenants. Some revenue is better than zero revenue.


* A screenshot of the ad is below:

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