Revitalizing Westwood

A consulting report suggests various steps to revitalize Westwood. From the Bruin:

Westwood has a problem with its “overly student-centric identity,” a consulting group told the Westwood Village Improvement Association... A report... by Anderson Strategy Group urged the association to lean away from student attraction, and make Westwood appeal to a broader audience, including families, residents and tourists, as well as address vacancy issues. The report said that while most businesses stay in Westwood to be close to UCLA, business owners want greater diversity in customers than only students. After receiving the report, WVIA Executive Director Michael Russell said he believes Westwood’s proximity to UCLA is not a weakness, but added that the neighborhood could benefit from a wider audience...

Full story at https://dailybruin.com/2025/11/05/report-urges-westwood-village-to-expand-commercial-appeal-beyond-students.

The report notes that some property owners hold out for unrealistic rents, thus leading to long-term vacancies, because they believe lower rents would somehow devalue their buildings. Of course, a building without retail tenants IS worth less than one with tenants, even if those tenants don't pay fanciful rents. Which would you rather have? A bond that on its face says it pays 5% but actually pays 0%, or a bond that says it pays 3% and actually pays what it says?

The actual report is presented in a series of slides at https://thewestwoodvillage.com/wp-content/uploads/2025/07/ASG-WVIA-Final-Presentation.pdf.