How Working From Home Is Crushing Downtown Los Angeles | Chris Cooper

California Insider

Siyamak sits down with Chris Cooper, principal and regional managing director at Avison Young. He talks about what challenges downtown Los Angeles is facing today in the aftermath of the pandemic and the impact on the commercial real estate industry.

“I’m a third-generation Angeleno. We have a wonderful community.“ Mr. Cooper said. ”There are competing interests, but we can solve those problems by all taking a step back and really think through a way to attract people to come back to L.A., to reenergize that Renaissance that we had established before the pandemic.”

Mr. Cooper highlights the city’s previous success in creating a vibrant live-work-play environment and the setbacks caused by the pandemic. He emphasizes the need for a partnership between the private sector and city government to revive downtown Los Angeles. He also addresses the challenges posed by the homeless problem and the hybrid work strategies affecting commercial real estate.

Join us as we delve into the impact of the mansion tax on commercial real estate transactions and what Mr. Cooper says are its catastrophic effects on the industry. We also discuss the attractiveness of Los Angeles to foreign investors despite challenges like high taxes and regulations, attributing it to the city’s diverse economy and favorable lifestyle.