Western Real Estate Business

OCT 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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52 • October 2018 • Western Real Estate Business www.REBusinessOnline.com LA'S NEWEST CREATIVE SPACES TARGET ARTISTS, CANNABIS PURVEYORS Los Angeles' collaborative culture has become so large that some companies are carving out specialized spaces that target a certain type of creative individual. By Nellie Day T here is no doubt the creative of- fice trend has caught fire in the past couple years, and few places have embraced it more wholehearted- ly than Los Angeles. Between Silicon Beach, the entertainment industry and all the professions that support this industry — including media, adver- tising, technology and graphic design — it's easy to see why Los Angeles is proud of its creative endeavors. These endeavors are now so widespread and considered "the norm" that a few companies are taking this niche even further, specializing in certain veins of creativity. Live, Wake, Perform One of those companies is UPstART, a locally based communal housing operator that accommodates artists, actors, musicians, DJs, models, come- dians, writers, directors and dancers. UPstART's goal is to provide places where these performers and art mak- ers can live, play, collaborate and cre- ate together. These spaces come in the form of a bed, as well as an on-site re- cording studio, photo studio, self-tape room, fitness center, stage and theater, co-working space with computer labs, film equipment library and more. These residential and work spaces are complemented with activities that can include group workshops, house con- certs, beach trips and family dinners. "UPstART accepts members based on their creative abilities rather than their financial situation," says Jer- emiah Adler, founder and CEO of UPstART. "The organic collaboration that happens is amazing. A writer will finish a script, hand it off to another member who's a director who casts it with actors from the community, and then one of the musicians writes and records the score in our on-site record- ing studio." The company, which considers itself a "communal housing operator and private club for artists and musicians," currently operates five communities in the Echo Park, Silver Lake, Holly- wood and Beachwood Canyon areas. Its newest community is Harvard House, located at 816 N. Hobart Blvd. in East Hollywood. The 96 artists cho- sen for admission at Harvard House have access to a single-person sound booth, office space, printer, house computer, hot tub, sauna, barbecue, indoor stage, photo studio, outdoor hammocks and coin-op laundry for $750 a month. "Our mission is not only to pro- vide affordable housing to the next wave of artists in cities where most have been priced out of conventional apartments, but also to curate mem- bership with strong creative talent and supplement that with program- ming like speakers, workshops, trips and events," says Leeor Maciborski, a principal at ROM Investments and an advisor for UPstART. There are currently 250 active UP- stART members with a waitlist of more than 500. The company plans to debut an additional 700 beds in the next 18 months. 'Green' Building While UPstART focuses on artists, Paragon is targeting a different niche that has taken off in Los Angeles. Rec- reational marijuana was legalized in California on Jan. 1 of this year. Since then, many experts have predicted the state will soon become the larg- est global market for legalized recre- ational marijuana. Los Angeles is also projected to become the largest legal retail cannabis market in the United States, according to the blockchain technology platform, which is hoping to corner the workspace market for those within the industry. The company created ParagonS- pace, a 4,300-square-foot co-working space for cannabis-related companies and individuals. The office opened at 1461 Tamarind Ave. in Hollywood this past September. "We understand the difficulties many companies face by being a part of the cannabis industry, which is why we have created ParagonSpace," says Jessica VerSteeg, Paragon's CEO. "Within our community, entrepre- neurs and businesses can collaborate, network and build in a safe, high-tech, affordable co-working space catered to those working in cannabis." ParagonSpace features flex desks, private offices, conference rooms, a lounge and green outdoor yard. The co-working space plans to host a monthly series of workshops, pan- els and partner events. Memberships range from $449 to $3,000 per month, with $30 day passes based on avail- ability. The space is open to profes- sionals outside the cannabis industry, including the blockchain, tech and creative industries, if space permits. The company wants to keep the em- phasis on the cannabis industry, how- ever, as it positions ParagonSpace as a place where community members can find clients, services, resources and investors to support their company growth. "By opening up to all verticals of the cannabis industry, whether you're a manufacturer, creative agency, law firm or freelancer, ParagonSpace brings together all businesses that add to LA's success in the market," VerSteeg continues. "We look forward to welcoming new Paragonians and helping the industry grow together and create a sense of community." The company's strategy is to offer businesses a membership plan that allows them to maintain lower costs without worrying about property rentals, permits or utilities with access to mentorship and networking from other experts in the industry. Los Angeles has always been a city on the cutting edge of many trends, particularly those that involve cre- ativity. There's no telling whether niche creative office space will pop up in other markets anytime soon, or whether this is simply an "LA thing." In either case, it puts a whole new spin on the creative office trend, cre- ating an opportunity to expand this craze even further. n The 96 artists chosen for admission at Harvard House have access to a single-person sound booth, office space, printer, house computer, hot tub, sauna, barbecue, indoor stage, photo studio, outdoor hammocks and coin-op laundry for $750 a month. UPstART's communal housing programs include amenities like an on-site recording studio, photo studio, self-tape room, fitness center, stage and theater, co-working space with computer labs, film equipment library and more.

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