an advertising supplement to the los angeles ... - jh snyder la business journal.pdf · jerry...

AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL - JANUARY 2005

To Our Friends and Readers of the Los Angeles Business Journal,

The J.H. Snyder Company, its partners, associates and employeestake great pride in being the first firm to be honored with a specialeditorial section of the Los Angeles Business Journal. At the risk ofsounding just a little self-congratulatory (but why not?), we believethat this publication marks a special moment in the long history ofour company. As founder and senior partner Jerry Snyder likes toput it, "We're at the top of our game."

Currently, the J.H. Snyder Company has approximately $1.5 billion ofprojects in construction and planning. All of this development is tak-ing place right here in Southern California. These projects includesome of the largest of our careers, including the redevelopment ofdowntown Ontario; the mixed-use development of NoHo Commons inNorth Hollywood; and large-scale retail redevelopment work at BellaTerra in Huntington Beach.

We are particularly proud of our growing portfolio of public-privateand redevelopment work, because we believe that these projects arehelping shape our cities for the next century, and represent animportant part of our legacy. We believe we have a responsibility toprovide buildings and public spaces that are well-thought out, well-designed, well-built and tenanted by solid companies. Above all,each of these projects fills a genuine need for their respective loca-tions, whether that is open-air shopping, new rental housing, new for-sale housing, office space or beautifully maintained open space.

The current moment in Southern California is a crucial one. As neverbefore, we are conscious of the need to prepare for the future. Inthat spirit, we have a number of new public-private ventures withCalifornia cities that will be announced in the coming weeks andmonths. If we have a message, it echoes one of our favorite Sinatrasongs: "THE BEST IS YET TO COME."

Thanks again to the Los Angeles Business Journal and all of thesponsors of this special edition, nearly all of whom are long-timeassociates of the J.H. Snyder Company. We thank readers for joiningus for our moment in the sun, just as we look forward to joiningyours.

Very best wishes,

Jerry Snyder Cliff Goldstein

Michael Wise Milt Swimmer

THE BEST IS YET TO COME

Clifford P. Goldstein Senior Partner

Michael E. Wise Senior Partner

Milton I. Swimmer Senior Partner

Jerome H. Snyder Senior Partner

4 VersatilityWe Never Do the Same Project Twice

5 NoHo CommonsUrban Excitement Amid “Industry”Atmosphere

6 Modern Day Challenges

7 The CrescentSomething New for Beverly Hills

8 Snyder PartnersFinding Value in Existing Buildings

9 The RiverAn Oasis in Rancho Mirage

10 J.H. Snyder CompanyFrom Building Homes to BuildingCities

12 Bella TerraFrom Enclosed Mall to Open-AirCenter

13 Oak CreekHousing Begins with Creativity

14 Commerce Town CenterFrom Neglected Land to CommunityAsset

15 Keeping It In-House

16 West Hollywood GatewayThe New Urban Shopping Center

CONTENTS

323.857.5546

www.jhsnyder.net

AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 3

Jerry Snyder recalls the moment during the recession of theearly 1990s when partner CliffordGoldstein suggested the companybuild supermarkets.

"I threw him out of my office,"recalled Snyder, with characteristicbrio.

A few weeks later, however, Snydersaid he realized Goldstein's idea wasthe right one for then-current marketconditions, when demand for officespace was at a low ebb.

Since that moment, the J.H.Snyder Company has gone on tobuild several million square feet ofretail and lifestyle centers. Theyinclude The River in Rancho Mirage,West Hollywood Gateway in West

Hollywood and the transformation ofthe former Huntington Mall inHuntington Beach into the open-airBella Terra.

The company's willingness tolaunch itself into new areas of devel-opment illustrates a philosophy of"responding to the basic economicprinciple of supply and demand,"according to partner Michael Wise.

"Snyder is one of the very fewfirms that can move from sector tosector inside of commercial realestate," he added. "I don't thinkthere is another company that is asversatile."

Throughout it's history, the J.H.Snyder Company has built master-planned single family home commu-nities, large-scale apartment andocean-front condominium complex-es, Class A Trophy office buildings,mixed-use projects like the Crescent(the first such project ever in BeverlyHills), transit-oriented projects likethe residential and retail NoHoCommons in North Hollywood, andcivic-scaled projects like the 12-block area of downtown Ontario,California.

"The only things we do not buildare hotels and prisons," saidGoldstein wryly. Another unwrittenlaw of the firm is to anticipate a trendin a market segment before it begins.

"Changes in the market don't resem-ble a bell curve," said Wise, referringto the patterns of change in the realestate industry. Instead, "the begin-nings and endings of real estatecycles have sharp spikes," he added.The tendency for sudden changemeans developers should not waitfor trends to materialize before plan-ning for projects. "If you wait for atrend to show itself," said Wise, "youwill likely deliver your project on thedownward spike of the cycle."

While the partners believe thatmixed-use and housing developmentstill has a long run ahead of it, in the

short term, they see a continueddemand for retail space, particularlyin reconfigured malls like the open-air Bella Terra and the upcomingredevelopment of Valley Plaza inNorth Hollywood as a lifestyle center."Open-air centers provide a townsquare environment that malls havenot been able to capture. Open-aircenters signal the downfall of tradi-tional malls as we know it," Goldsteinsaid. "There's room for a lot moreopen-air centers", he added.

Although the current demand foroffice space is again low, "the part-ners guarantee they we will be build-ing office space again in the not toodistant future.

With changing patterns of demo-graphics and transportation,Goldstein said, "there will be ademand for office space, and we willrespond to that demand." ?

Howard Hughes Promenade, Los Angeles

Bella Terra, Huntington Beach

“Snyder IS ONE OF THE VERY FEW FIRMS THAT

CAN MOVE FROM SECTOR TO SECTOR INSIDE OF

COMMERCIAL REAL ESTATE.” - Michael Wise

VERSATILITY“We never do the same project twice.”

by Morris Newman

Water Garden, Santa Monica

No project in Los Angelesspeaks more powerfully to thepotential of transit-oriented devel-opment than NoHo Commons, theresidential mixed-use project sur-rounding the Metro Rail station.

With more than 700 residential

units under construction, the $200million project is the largest resi-dential project yet to be built on theMetro Rail line, according to MiltSwimmer, a partner with the J.H.Snyder Company.

Even before the project hasopened, construction has startedon the 350,000-square-foot sec-ond phase of the Commons, con-sisting of 269 loft residential units,20,000 square feet of live-workspace and 60,000 square feet of

retail and a gourmet food market.The centerpiece of the project isthe North Hollywood Metro Rail sta-tion, which anchors the commer-cial core and serves as a portal tothe North Hollywood arts district.

"NoHo Commons will be themodel for a vibrant and successfultransit-oriented development,Swimmer said. "By combiningpedestrian-friendly design, live-work spaces and the right kind ofneighborhood-serving retail busi-nesses, we are creating a synergyfully in character with North

Hollywood's mix of urban sophisti-cation and performing arts atmos-phere," he added.

The benefits of development inor around transit stations accord-ing to Swimmer, are a pedestrian-oriented way of life, reduced trafficcongestion, decreased environ-

“J.H. Snyder is a leader in development of true mixed-use

developments in emerging cities all across Southern California. They have truly honed their craft and will continue to

build better and better projects.” JON JERDE, AIA, FOUNDER

THE JERDE PARTNERSHIP

(see “NoHo Commons” on Page 17)

NOHO COMMONSUrban Excitement Amid “Industry” Atmosphere

"OUR APPROACH TO EACH PROJECT IS DICTATED

BY WHAT WE SEE, HEAR AND FEEL FROM THE

COMMUNITY. THERE IS NO COOKIE-CUTTER IN

OUR DEVELOPMENT TOOLBOX.” - Milt Swimmer


J. H. Snyder Company PartnerMilton Swimmer has experiencedthe challenge of developing civic-sized projects in present daySouthern California.

In the late 1980’s, he and seniorpartner Jerry Snyder attended acommunity meeting about theWater Garden, a 1.2 million-square-foot office project that

would fill 17 acres of land in SantaMonica. "After an impassionedspeech against the project, aspeaker asked everybody else inthe room who disliked the projectto stand," said Swimmer. “Amoment later, Jerry says to me, 'weare the only ones sitting downhere'," he added.

After years of negotiation with

community representatives andcity officials, the first phase of theWater Garden opened to ravereviews in 1992. In 2002, the sec-ond phase of the project was suc-cessfully completed virtually 100%pre-leased.

Although Snyder partners did notset out to become town builders,the company that made its name in

office buildings and condominiumtowers is now one of the largestplayers in the public-private devel-opment arena. Few developerscan pursue such projects, whichoften take years to negotiate withpublic entities.

The J.H. Snyder Company is "ableto bring things to the table that alot of smaller developers can't,"according to Snyder partnerMichael Wise. "We have $1.5 bil-lion of construction in the pipeline,"he added. "We can talk to everymajor institution and every majorlender."

Large-scale redevelopment is acomparatively recent line for thefirm which worked closely withredevelopment officials of the Cityof Rancho Mirage to build thenationally acclaimed project "TheRiver", the first open-air retail andentertainment center in theCoachella Valley. Invitations havequickly followed from other cities.

The J.H. Snyder Company's large-scale work includes NoHoCommons, a one million squarefoot transit-oriented, retail and res-idential project in North Hollywood,being built with the cooperation ofboth the MTA and the CommunityRedevelopment Agency of LosAngeles.

The J.H. Snyder Company'slargest redevelopment project inthe works is a 12-block area ofdowntown Ontario, California.Currently in the planning stages,the project will provide essentiallyan entire revitalized downtownarea for the fast growing city in SanBernardino County.

When speaking of civic projects,Partner Clifford Goldstein singlesout for admiration the late JamesRouse, the developer who built the"new town" of Columbia, Marylandin the 1960s.

"His was the greatest achieve-ment, I think, to build essentially anentirely new city, with all the com-plexity that entails, and have it stillwork well after 40 years," Goldsteinsaid. ?

MODERN DAY CHALLENGESby Morris Newman

6 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL

The Crescent would be consid-ered a forward-looking project inmost cities. In Beverly Hills, a citywith an approval process famous forits stringency, the combined officeand residential project is little shortof path-breaking.

Not only is The Crescent the firstmixed-use project ever built inBeverly Hills, the complex also con-tains the first new rental apart-ments to appear in the city in nearly25 years.

The Crescent comprises 40,000square feet of Class A office space,12 two-story brownstones and 76luxury townhouse apartments. Theproject is scheduled for completionin Spring of 2005 and has three lev-els of underground parking, contain-ing 534 spaces.

"The demand for both high-endrental units and office space suit-

able to top-tier professional firmsmakes this project the optimal useof the property," said Jerry Snyder, asenior principal with the J.H. SnyderCompany.

"We expect a single tenant tooccupy the office space," he added."Beverly Hills is an attractive marketfor professional firms, creative firmsand talent agencies and that's thekind of user we are envisioning," hefurther commented.

One delicate issue in the approvalprocess was the relationship ofoffice space to residential units inthe project. Beverly Hills has a long-standing policy discouraging resi-dential development on WilshireBoulevard, the city's primary busi-ness street. As a result, the officespace fronts on Wilshire, while thetownhomes face Crescent Drive. ?

THE CRESCENTSomething New for Beverly Hills


Snyder Partners in someways is the opposite of its sistercompany, the J.H. Snyder Company.Unlike the well-known developerthat builds highly-publicized proj-ects, Snyder Partners attracts com-paratively little attention - so little,in fact, that many people are notyet aware of it.

Yet Snyder Partners, a realestate investment firm that buys,

improves and resells properties,"operates out of the same corecompetency" of the better-knowncompany, according to Principal C.Drew Planting.

The goal of Snyder PartnersPlanting continued, is to "acquireexisting assets throughoutSouthern California, where, through

repositioning, re-leasing, reconfig-uring or otherwise, to realizegreater value of those assets."

These types of transactions"afford us a different strategy for

capitalizing on the current market,"Planting said. "It allows us toexplore another dimension of themarketplace: existing, income-pro-ducing properties where the risk-reward profile is attractive to us."

Using private equity capital, thecompany looks for office, medicaland industrial buildings between

50,000 and 100,000 square feet.A recent case was a 50,000-square-foot, single-tenant buildingin Hollywood, with 15 monthsremaining on the lease.

"We knew that the tenant wasgoing to be acquired by a muchlarger company with a strong creditrating," Planting said.

After adding some capitalimprovements to the building, "were-signed the tenant to a long-termlease, knowing that the value ofthe lease was enhanced by thecredit of the parent company."Shortly after the lease transaction,Snyder Partners sold the project ata very favorable mark-up. ?

C. Drew Planting, Partner

Snyder Partners “ALLOWS US TO EXPLORE ANOTHER

DIMENSION OF THE MARKETPLACE,” - C. Drew Planting

SNYDER PARTNERSFinding Value in Existing Buildings


Those who frequent The River,whether on a sun-drenched week-end hop to the desert, or a weeklydinner-and-a-movie, immediatelysense that it is a place like noother. Certainly, the 1.7 million-gal-lon man-made river creates thelook and feel of a desert oasis thatcannot be found elsewhere on thedesert and mountain landscape ofthe Coachella Valley. The project'swaterfront atmosphere, state-of-the-art Century Theatres cinemaand its fun, eclectic mix of popular"lifestyle" retailers and restaurantssuch as the Cheesecake Factory,P.F. Chang's China Bistro, Borders

Books & Music, The Yardhouse andFleming's Prime Steakhouse madethis project an overnight success inthe resort community of RanchoMirage.

Public officials who were asthrilled with the outcome of theproject as the local residents havepraised the project - and the devel-oper - for putting the city of RanchoMirage on the map.

The most notable achievementhowever, was the creation of publicopen space in a region with veryfew public areas.

"We have provided somethinglike a downtown area for the City of

Rancho Mirage," said senior part-ner Jerry Snyder.

Rich in gated resorts devoted totennis and golf, the CoachellaValley had been lacking in someother important urban amenities,such as shopping streets andplaces where people could linger afew hours at a bookstore or agallery, between seeing a movie orhaving a meal.

Jerry Snyder further commented,"Although we do not think of resortcommunities like Rancho Mirageas places that need redevelop-ment, the River is one furtherexample of the company's commit-

ment to urban infill redevelopment,not entirely unlike the WestHollywood Gateway, NoHo Commonsor downtown Ontario."

(see “The River” on Page 17)

THE RIVERAn Oasis in Rancho Mirage


Commercial developmentprojects typically place developersand city officials at opposite ends ofthe bargaining table, trying to bal-ance a community's need for hous-ing or retail with the economic reali-ties of development. As eachparty's list of demands growslonger, the rift between city anddeveloper tends to widen.

The J.H. Snyder Company is oneof the rare firms whose relationshipwith cities is notable for collabora-tion instead of conflict. Heraldedfor efforts to garner community sup-port for its projects, the J.H. SnyderCompany has partnered with someof Southern California's most pro-gressive cities and communitiesincluding North Hollywood, WestHollywood, Ontario and Commerceto transform blighted and under-pro-ductive urban sites into thriving citycenters, shopping areas, workplaces and living spaces. Today, thefirm has more than $1.5 billion of

real estate projects in planning andunder construction including mixed-use, retail, residential and multifam-ily projects.

The J.H. Snyder Company is notonly one of the nation's leadingdevelopment companies, but one ofthe most versatile, as well. Formore than 55 years, the firm hastaken advantage of real estate and

economic cycles, navigating amongdifferent types of development aslocal and national economic factorschange. The company's develop-ments are comprised of single-familyhousing, master-planned communi-ties, high-rise apartment and condo-minium complexes, waterfront/mari-na properties, lofts, lifestyle/enter-tainment retail centers, community

retail centers, power centers, "de-malling" of regional shopping cen-ters and trophy-class office build-ings.

"We're at the top of our game andthe best is yet to come," saidJerome H. Snyder, senior partner.

Among the reasons for the J.H.Snyder Company's success in citieswhere other developers have failed

is a track record for listening to com-munity concerns. A case in pointconcerns the City of Ontario, whichlast year entered into an exclusivenegotiation agreement with the J.H.Snyder Company to redevelop thecity's historic core, a 12-block areadating back more than a century.According to Ontario City ManagerGreg Devereaux, one the main rea-

sons the J.H. Snyder Company wasselected was its commitment to"respect historic buildings."

The goal of the Ontario DowntownCivic Center project is to revitalizethe city's historic core communitywhile continuing to invest in thegrowth of the city's economy. Whencomplete, the $200 million redevel-opment will contain approximately750 units of housing including lofts,rental and for-sale; 100,000 squarefeet of ground-floor retail; and acenterpiece public park, pro-grammed as a gathering place forthe community. These new useswill be artfully interwoven with theexisting City Hall, as well as arecently completed senior centerand a new public library now underconstruction, creating a true civiccore for the community.

"This assignment is an ideal fitwith our firm's expertise in bothmixed-use urban infill developmentand community building," said Cliff

Valley Plaza, North Hollywood

The River, Rancho Mirage Oak Creek, Agoura Hills

“WE’RE AT THE TOP OF OUR GAME AND THE BEST

IS YET TO COME.” - Jerome H. Snyder

J.H. SNYDER CO.From Building Homes to Building Cities

A Developer as "Facilitator of Collective Dreams"

Goldstein, a senior partner.The ability to "hone in" on a city's

core values has given the J.H.Snyder Company a competitiveedge, according to senior partnerMilt Swimmer. "Our approach toeach project is dictated by what wesee, hear and feel from the commu-nity," he said, adding, "there is nocookie-cutter in our developmenttoolbox."

In North Hollywood, a hip arts dis-trict that once seemed out of theway, the company is teaming withthe Community Redevel-opmentAgency of the City of Los Angeles

(CRA/LA) to create the area's firsttransit-oriented development. NoHoCommons is a $200 million, mixed-use development centered aroundthe North Hollywood Metro Rail sta-tion, which welcomes both resi-dents and visitors to NoHo'sacclaimed arts district. The projectis a model for the creation of avibrant, 24-hour community cen-tered around mass transit. The firstphase of the project, currentlyunder construction, will bring 438residential apartments to the area.The second phase, also under con-struction, will include 278 loft resi-dential units, 20,000 square feet oflive-work space and 80,000 squarefeet of retail space, including a gour-

met food market. Nearby, in WestHollywood, where city officialsselected the firm as the developerfor West Hollywood Gateway, thecompany again displayed its abilityto preserve the elements that arevaluable to a community while intro-ducing dynamic change. Recognizedas one of the finest urban infill retaildevelopments, the award-winningWest Hollywood Gateway is a $75million, two-level, 250,000-square-foot shopping center that makes adramatic architectural statement atone of the busiest intersections inthe Los Angeles area. The company

built the project around the historicFormosa Café, which was integratedinto the center and remains a rec-ognizable local fixture. A large out-door plaza functions as a civicsquare, inviting pedestrians tolinger at outdoor restaurants, foun-tains, public art and retail kiosks.

Members of the managementteam at the J.H. Snyder Companyagree that the firm has had itsgreatest success in public sectordevelopment in cities where com-mercial development had been allbut nonexistent. Perhaps the bestexample of this phenomenon is TheCrescent, a mixed-use residential

“J.H. Snyder Company is one of our best developer clients. They are often sought out for their experience, vision and ability

to work with cities and communities to bring complex, mixed-use projects to bear.”

REAGAN VIDAL, SENIOR VICE PRESIDENT

CALIFORNIA DIVISION MANAGER GUARANTY BANK

“J.H. Snyder Company is one of the finest real estate development firms in the U.S.”

MARK J. FORBES, SENIOR VICE PRESIDENT/ASST. MANAGER

REAL ESTATE GROUP, CITY NATIONAL BANK

West Hollywood Gateway, West Hollywood(see “J.H. Snyder Co.” on Page 17)

The J.H. Snyder Teamfrom left to right:

Mina Elliot, Senior VicePresident, Leasing; Jim Mosier, Senior VicePresident, Construction;Dan Schneider, VicePresident Finance;Michelle Moebius,General Counsel; Thomas Dujovne, SeniorAnalyst; John Gebhardt,Senior Vice PresidentDevelopment andMarketing

"OPEN-AIR CENTERS PROVIDE A TOWN SQUARE

ENVIRONMENT THAT MALLS HAVE NOT BEEN ABLE

TO CAPTURE. OPEN-AIR CENTERS SIGNAL THE

DOWNFALL OF TRADITIONAL MALLS AS WE KNOW

IT, THERE'S ROOM FOR A LOT MORE OPEN-AIR

CENTERS." - Cliff Goldstein

Coronado Shores, Coronado

Traditionalists, beware: The region's oldest enclosed

shopping center is being "de-malled."

Using a combination of new con-struction and renovation, the J.H.Snyder Company is nearing comple-tion of Bella Terra, the $170 millionopen-air lifestyle center that thecompany is fashioning out of the for-mer Huntington Center. Completionis expected in August 2005.

Built in 1966, the old HuntingtonCenter was purchased by leadingmultifamily and residential ownerThe Ezralow Companies in 1999.In September 2001, the J.H.Snyder Company was brought onas the lead developer in partner-ship with Ezralow to reconfigurethe enclosed mall into Bella Terra(Italian for "Beautiful Earth").

"The biggest goal was to create avibrant town center and destina-

tion place for local residents toshop, dine, linger and enjoy thecoastal climate in an open-air set-ting," said Jerry Snyder, senior part-ner with the J.H. Snyder Company."The expansion of the existing cen-ter brings new retailers to the area,along with new jobs and anincreased sales tax base for thecity," he added.

Replacing the old HuntingtonCenter, originally containing780,000 square feet of retailspace, is a one million-square-foot,open-air center. As designed by the

Jerde Partnership and Perkowitz &Ruth, the style of the renovatedcenter evokes an Italian village withlarge public spaces interveningbetween shops and dining alleys,with architectural accents in stone,ceramic and tile throughout theproject. The architecture featuresvarying building heights and towerelements which serve as "visualicons," according to the architects,while providing a transitionbetween existing buildings andnew street-style shopping areas.

“The City of Huntington Beach eagerly awaits the completeredevelopment and renovation of Bella Terra by J.H. Snyder Co.

The City appreciates the close working relationship and partnershipfostered with J.H. Snyder while developing, designing and permitting

plans for this groundbreaking retail and lifestyle project.”

HOWARD ZELEFSKY, DIRECTOR OF PLANNING

CITY OF HUNTINGTON BEACH

Bella Terra, Huntington Beach

(see “Bella Terra” on Page 18)

BELLA TERRAFrom Enclosed Mall to Open-Air Center


The story of Oak Creek inAgoura Hills is a casebook study ofpublic officials and a private devel-oper figuring out together whatmakes the most sense for a com-munity.

The zoning of the 40-acre sitenear the Kanan Road exit of the101 Freeway called for office devel-opment. That designation datedfrom the late 1990s, when cityplanners expected the boominghightech and dot-com market toexpand into Agoura Hills, a citylocated along a "technology corri-dor" stretching between WoodlandHills and Camarillo.

The collapse of the dot-coms,however, saddled the city with anunbuilt and unproductive site."There was no market for office ortechnology," said Milt Swimmer.“What made the most sense forthe site?"

Clearly, both the company andcity officials needed to exercisecreativity. Jerry Snyder and hispartners determined that the bestsolution was rental housing.

Although the idea was new forthe local city council, which wassurprised initially by the suggestionof building a multifamily complexon the site, city officials quickly

came around. Agoura Hills, anaffluent bedroom community, hadcomparatively little rental housing.

The J.H. Snyder Company hadfurther negotiations to completewith the city, however. The compa-ny's acquisition of the site includ-ed a land-exchange agreement fora new city library, along with thededication of 2.4 acres of land forthe Kanan Road/101 Freewayinterchange project, saving the cityan estimated $2 million. The firmalso designated 14 acres of landas open space and funded a$70,000 oak tree habitat replace-ment to preserve oak trees.

Celebrating the completion thispast summer, the project known asOak Creek is a mixed-use develop-ment straddling Medea Creek.

(see “Oak Creek” on Page 18)

OAK CREEKHousing Begins With Creativity


People who want to grasp theconcept of urban infill developmentneed travel no further than the Cityof Commerce, future site of the350,000-square-foot CommerceTown Center.

Located between the Citadel out-let center and the CommerceCasino along the Interstate 5Freeway, Commerce Town Centerwill be an "example of taking anunder-used piece of land and rais-ing it to the highest standard of thecommunity," according to Snyderpartner Clifford Goldstein.

One person who agrees isCommerce Mayor Ray "Gordy"Cisneros, who praises what hecalls the "outstanding location anddramatic reuse of the site." Thenew center, he added, is "exactlythe kind of innovative and progres-sive redevelopment project that

our city supports.""This is the kind of work that we

are increasingly involved in: creat-ing assets out of neglected landuses, like surface parking or emptylots," Goldstein went on to say.

"The addition of a major retailcenter will provide 'connective tis-sue' for existing community assetssuch as the Citadel and the casino,while generating new sales tax forthe city," Partner Michael Wiseexplained.

"We are helping remake a citythat was formerly known primarilyfor its industrial and distributionrelated business, into a full-servicecommunity that offers shopping,entertainment and urban ambiancefor the entire region," Goldstein said.

Construction begins later thisyear on Commerce Town Center, aneclectic mix of merchants and

restaurants, together with a 3,000-seat multiplex cinema. The outdoorfacades of the center will be front-ed with wide pedestrian sidewalks

to encourage strolling, outdoor din-ing and an atmosphere of publicenjoyment. Accenting the sidewalks

COMMERCE TOWN CENTERFrom Neglected Land to Community Asset

(see “Commerce Town Center”, Page 18)


Unlike many developers whooutsource much of their experttasks, "We do nearly everything inhouse," said Partner Michael Wiseof the 50-person J.H. Snyder firm.

Added partner Clifford Goldstein,"Development expertise, market-ing, financing, construction andleasing - all are managed in house,"he said. "We hire architects as out-side consultants. Architectureneeds to be kept fresh."

More unusual, perhaps, is theactive participation of each of thefirm's four partners - Jerry Snyder,Goldstein, Wise and MiltonSwimmer - in nearly every project.

"We don't assign different proj-ects to different people," Wise said.He added, "Each of us works onevery project, with each partnertaking a different role."

Founder and senior principalJerry Snyder takes an active role inconceptual planning, governmentrelations and the entitlementprocess.

Wise, who once described him-self as the "partner of minutiae," isactually in charge of securing bothequity and debt financing for proj-ects.

Milton Swimmer, who worked inthe design field for 20 years beforejoining the firm in 1987, is respon-sible for both government relations

and oversees Snyder's in-houseconstruction department.

Goldstein, who joined Snyder inthe mid 1980's, collaborates close-ly with Snyder on strategic decisionmaking; he is credited with intro-ducing both retail and mixed-usedevelopment to the firm. He alsooversees marketing and leasing ofthe J.H. Snyder Company's projects.

A nearly equal distribution ofresponsibility is not an accidentaccording to the firm's founder.Although the company bears hisname, "I realized years ago that theJ.H. Snyder Company is muchmore than Jerry Snyder," he said,adding, "This is not a one manoperation.” ?

KEEPING IT

IN-HOUSEby Morris Newman

“The J.H. Snyder Company has the unique ability to ascertain what type of project would be most successful

within a given marketplace. Their developments are timeless and become landmarks within their given market.”

DAVID SONNENBLICK, PRINCIPAL

SONNENBLICK-EICHNER COMPANY

The Los Angeles

Magazine has called

Jerry Snyder

“L.A.’S FAVORITE

DEVELOPER.”


West Hollywood Gateway isan example of what retail may looklike in high-density urban areas inthe foreseeable future: large proj-ects on small sites, oriented towardpedestrians as much as cars.

Prior to the completion of theproject last May, few people hadthought it possible to fit a full-sizedTarget outlet into an existing cityblock, much less one surroundedby shopping and apartments.

The 250,000-square-foot shop-ping center provides some strikingarchitectural statements at one ofLos Angeles' busiest intersections.The project features a large out-door plaza that functions as avibrant civic square, inviting pedes-trians to enjoy outdoor eating

areas, fountains, public art, retailkiosks and plentiful landscaping.Wide sidewalks, street-level displaywindows and sidewalk cafes fur-ther enliven this new urban village.

"People in high-density urbanareas want the same type of high-quality retail that suburbandwellers have long enjoyed," saidJ.H. Snyder Company Partner MiltSwimmer."West Hollywood Gatewayshows that large-scale, volume-dis-count retailers can function well ona tight site, and perhaps even bet-ter than some of their suburbanoutlets, because demand is sohigh," he added.

The ingenuity of the WestHollywood Gateway was to providea center that was architecturally

attractive, while providing the guiltypleasures of shopping in suburban-style "power centers."

While plentiful shopping is avail-

able in Hollywood, Beverly Hills andWest Los Angeles, none of thosecommunities has much in the way

WEST HOLLYWOOD GATEWAYSMALL FOOTPRINT, BIG DRAWING POWER

The New Urban Shopping Center

(continued on next page)


of suburban-style, "big-box" retaillike Target. That is no surprise: Theenormous land parcels that retail-ers like Target require are becom-ing increasingly scarce to find inpresent-day Southern California.

Discount retailers in suburbansites often consume eight acres ormore, typically consisting of anenormous blacktop parking lot sur-rounding a stand-alone building.West Hollywood Gateway, in con-trast, consists of only four acresand contains a much larger "foot-

print" of construction than its sub-urban counterpart, as well as atwo-level subterranean garage with1,000 parking stalls.

"West Hollywood Gateway is animportant milestone for the rede-velopment of the East Side of thecity," Swimmer said. "The projectstimulates investment, createsjobs, provides revenue and intro-duces new neighborhood servicesand retail amenities not previouslyavailable to residents," he added. ?

“J.H. Snyder was wonderful to work with, keeping in constantcommunication and staying in close touch with the needs of the

community. the result - a great project with first-class design and high-quality tenants..”

ALLYNE WINDERMAN, DEPUTY EXECUTIVE DIRECTOR

WEST HOLLYWOOD REDEVELOPMENT AGENCY

and office project that will featurethe first rental apartment complexto be developed in the City ofBeverly Hills in the past 25 years.Currently under construction in thefamed "golden triangle", the $50million project will be completed inspring 2005. The Crescent encom-passes 40,000 square feet ofworld-class office space, 12 two-story brownstones and 76 luxurytownhouse apartments with threelevels of underground parking. Thecomplex is located within walkingdistance of the finest shopping anddining establishments, includingSpago and the renowned RodeoDrive shopping district.

As a growing number of citiesbecome attuned to the potential ofdowntown redevelopment, the J.H.Snyder Company will likely continueto be a trusted partner to publicagencies, helping them to re-envi-sion and revitalize their communi-

ties, block by block. Most recently,the City of Commerce, best knownfor its thriving industrial sector, hastapped the firm to create a truecommunity destination. CommerceTown Center is a 350,000-square-foot urban retail center that seemsdestined to become the city's newtown center. Construction will beginnext year on phase one of the proj-ect, which will feature an eclecticmix of popular retailers and restau-rants, together with a 3,000-seatmultiplex cinema. Jerry Snyder saidhe expects the Commerce develop-ment will make a dramatic additionto the city's emerging retail corridor."We are always proud to play a rolein the evolution of a community," hesaid, adding, "Our job is to helparticulate a vision of who they are -we are facilitators of a collectivedream." ?

J.H. Snyder Co.(continued from page 11)

NoHo Commons(continued from page 5)

mental pollution and improvedproperty values. NoHo Commonsis expected to have a strong appealto people in the entertainmentindustry and related fields, accord-ing to partner Clifford Goldstein.The project is within easy walkingdistance of the Academy ofTelevision Arts, immediately northof Universal Studios, and immedi-ately west of Burbank -- the head-quarter city of Walt DisneyCompany, NBC and the West Coastoperations of ABC and WarnerBros.

Completion of Phase II is slatedfor Spring of 2006. Phase III isscheduled to break ground some-time next year. Current approvedplans are for a 200,000-square-foot office building and 70,000square feet of additional retailspace. ?

The site had been abandoned bya previous developer, and hadbecome a headache for the city'sredevelopment department.Although an open-air project wasan untested idea in the CoachellaValley, Snyder believed that aninnovative project would win sup-port from shoppers and theater-goers.

Snyder's gamble paid off -when The River opened four yearsago, merchants reported that saleswere well beyond expectations andseveral merchants, includingBorders, reported they had to hireadditional staff to handle thecrowds.

"For us, the River is anexample of a project that addssomething to a city," said Snyder."This is the kind of project that ful-fills the original purpose of rede-velopment: to improve the com-munity." ?

The River(continued from page 9)


Rather than bulldozing hills, theapartments are nestled among 40-acres of rolling hills and oak trees,in 24 separate buildings, each con-taining 14 apartments. In anunconventional twist, each unit hasits own private outdoor entrance.

Part of the development is anine-acre commercial site with a124-unit hotel, upscale restau-rants, informal dining and a coffeehouse.

Oak Creek is "a testament," saidSnyder, "to what can be accom-plished to address the needs of thecommunity, as they relate to hous-ing, transportation and overallquality of life." ?

Oak Creek(continued from page 13)

Bella Terra(continued from page 12)

The landscaping includes a highnumber of mature trees and smallparks, accented with colorful plants.

The "de-malled" center will boast71 shops and restaurants, includ-ing a 20-screen, 4,000-seatCentury Theatres megaplex, alongwith new tenants Bed Bath &Beyond, REI, ULTA Cosmetics andCost Plus. Kohl's department storeopened in March of 2003 in the for-mer Broadway department storebuilding. The new design arranges15 restaurants - including Kabuki,Daphne's Greek Café, PomodoroCucina Italiana, Islands, CaliforniaPizza Kitchen, Johnny Rockets andPeet's Coffee and Tea - around anoutdoor amphitheater intended asa venue for live performances. ?

5670 Wilshire Boulevard, Los Angeles

Museum Square, Los Angeles

Coronado Shores, Coronado

will be water features, public seat-ing and prominent landscaping. Thegoal, according to Jerry Snyder, sen-ior partner, is to create what hecalls a "community destination."

"This is an exciting opportunity tocreate a gathering place for the res-idents of Commerce that will bringneeded synergy to the area, alongwith new venues for top-notch shop-ping and entertainment," comment-ed Snyder, adding that “CommerceTown Center will become the newtown center of the City ofCommerce". ?

CommerceTown Center(continued from page 14)

Howard Hughes Promenade, Los Angeles


J. H. Snyder Company.

Whether its redeveloping community

landmarks or creating new urban land-

scapes, J.H. Snyder Company makes

public spaces, memorable places.

J.H. Snyder Company has earned the

trust of its municipal clients, and a

reputation as an innovator of public-

private partnerships.

THE SHAPE OF THINGS TO COME

The Crescent, Beverly Hills, CA NoHo Commons, North Hollywood, CA

Valley Plaza, North Hollywood, CA Commerce Town Center, Commerce, CA

For Information:

323.857.5546 www.jhsnyder.net

Bella Terra, Huntington Beach, CA

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