Business

Santa Monica Clock Tower sells for $34.3M

Santa Monica Clock Tower (Photo by Daniel Archuleta) An Italian real estate investment firm that has a love for historic buildings has purchased the Santa Monica Clock Tower in Downtown for $34.3 million, officials said. A private investor sold the 12-story, 53,465-square-foot office building at 221-225 Santa Monica Blvd. to the... Read more →

Business

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Poll predicts development ‘boom’ in beach cities

CITYWIDE — Investors are looking for a safe — preferably lucrative — place to park their cash these days, which some believe may be one factor at the root of a recent explosion of development seen in Santa Monica in the last six months. A poll released this week by investment giant Morgan Stanley of 1,000 U.S. investors with $100,000... Read more →

Business

Pier construction underway

SM PIER —  Construction began Thursday on a project to replace a large section of the Santa Monica Pier in an effort to preserve and maintain the historic structure. The $8.5 million job involves the demolition and replacement of 365 feet of the pier between the high tide line and the concrete westerly portion of the pier. That... Read more →

Business

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Food trucks limited, pedicabs allowed

File photo Editor’s note: This story is part of an ongoing series that tracks the second and final readings of ordinances approved by the City Council. Second readings are held without public comment, although the issues have been discussed, often at length, during prior City Council meetings.   CITY HALL — The City Council... Read more →

Business

Council in favor of allowing group fitness classes in parks

CITY HALL — The City Council moved to loosen proposed restrictions on private exercise instruction in public parks Tuesday night by allowing limited group trainings and heavier equipment in some parks and charging less for the privilege. The council requested that city officials return with an ordinance that would leave the door open to... Read more →

Business

Santa Monicans develop app for sports drafts

HIGH TECH: Joe Sarafian and David Rabie show off their Draftpedia app for the iPhone. (Photo by Daniel Archuleta) DOWNTOWN — When the lights went down on the Superdome in New Orleans after the Super Bowl this February, football fans across the country went into spare rib-induced hibernation for about a week. Then speculation about... Read more →

Business

Brief: City Hall dishes on signs

City Hall announced a new campaign Monday to educate businesses about the kinds of signs allowed in Santa Monica’s commercial districts. Beginning this week, city officials will send out letters and informational flyers to local businesses, business organizations and community partners to let people know what kinds of signs they’re... Read more →

Business

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Top 10 employers show stability, growth

A nurse administers a flu shot at Santa Monica-UCLA Medical Center. (File photo) CITYWIDE — A look at the top 10 employers in Santa Monica shows a stable economy shedding its old standbys of a decade ago to embrace its new moniker — “Silicon Beach.” The list used to include names like Specialty Labs, now in Los Angeles, Sanford... Read more →

Business

Organic butcher promises cuts above

It seems the butcher is back. After decades of slicing in obscurity, butchers are regaining respect in the food chain as carnivores become more concerned about their meat, particularly how the animals slaughtered are raised. Aside from more high-end supermarket chains, it can be tough to find a quality butcher. Eddy Shin is aiming to... Read more →

Business

Two eateries get alcohol permits, new hours

CITY HALL —  The Planning Commission struggled Wednesday to balance business interests with community concerns in the face of two restaurant applications that would pave the way for late-night alcohol service and events near neighborhoods. Commissioners ultimately gave the go-ahead to both 1519, the successor to the now-infamous sports... Read more →