All articles tagged with #rick caruso
Paramount Pictures has taken over the lease for the Bay Theater in Pacific Palisades, planning to reopen the five-screen venue later this year. The theater, which has been closed since the January 2025 wildfires, will be operated by The Lot and feature first-run releases, classics, and immersive events. The move follows the recent merger of Paramount and Warner Bros. Discovery under Skydance.
After a 19‑month, more than $100 million restoration following the January 2025 Palisades fire, Palisades Village in Pacific Palisades reopened on Aug. 15, 2026 with new and returning tenants; Erewhon will reopen in January, the center is about 99% leased, and the reopening signals a hopeful revival for the community as rebuilding continues and some displaced residents remain.
With the noon filing deadline looming, Los Angeles’ mayoral race is in unusual flux: former schools chief Austin Beutner dropped out, Lindsey Horvath remains undecided, and Rick Caruso briefly flirted with a bid before declining. New contenders such as Adam Miller, Spencer Pratt, Rae Huang, and Maryam Zar are weighing or entering the race, while Bass’s handling of the Palisades fire has weakened her position. Donors appear to be waiting to see who jumps in, making a runoff highly likely in a crowded field.
Billionaire developer Rick Caruso announced he will not run for either California governor or Los Angeles mayor in 2026, choosing to focus on wildfire recovery through his Steadfast LA nonprofit after last year’s devastation. He previously lost the LA mayoral race in 2022 to Karen Bass, and while he sought a more moderate, cross-partisan path, the politically polarized climate and Bass's incumbency made a rematch unlikely.
With Kamala Harris passing on the California governor's race, potential candidates like Katie Porter and others are positioning themselves, while figures like Rick Caruso and Eleni Kounalakis are gaining attention, highlighting a competitive and dynamic race.
The Oceanwide Plaza luxury development in Los Angeles has become a canvas for graffiti artists after being left vacant and half-finished since 2019. The city is debating what to do with the towers, with some suggesting demolition and others proposing completion for public housing. The L.A. City Council has voted to have the buildings cleaned and secured, with the bill potentially reaching $4 million, but the bankrupt developer may not comply. Billionaire developer Rick Caruso criticizes the city's handling of the situation and blames it on dependency on Chinese money and weak policies. Mayor Karen Bass has not responded to requests for comment.