(Mark Your Calendars: RealShare REAL ESTATE 2012, March 22nd in Los Angeles).

LOS ANGELES-More than 300 real estate professionals, city planners and other leaders at the forefront of revitalizing the inner city convened recently at the Dorothy Chandler Pavilion in downtown Los Angeles for ULI L.A.’s Urban Marketplace event. In an opening panel discussion, the key concerns for L.A. was how to stay competitive with other major metropolitan cities across the country.

Moderated by ULI LA executive director, Gail Goldberg, panelists included: Cecilia Estolano of Estolano LeSar Perez Advisors and former CEO of the Community Redevelopment Agency of the City of Los Angeles; Daniel Tellalian of Emerging Markets and Josh Gertler of Consensus Inc. The consensus among panelists was that in order to elevate L.A.’s competitiveness, “L.A. must find a way to make significant improvements to the core components of a healthy city including access to affordable housing, alternative forms of transportation and healthy food.”

The mission for this year’s Urban Marketplace was to “create a forum for attendees to exchange ideas and conceive deals that can contribute to creating a healthier and more sustainable Los Angeles”—even in the wake of the Redevelopment dissolution. According to Estolano, “Los Angeles is the most unaffordable market in the US.” She highlighted L.A.’s lack of affordable housing options citing that many households are forced to spend 50% to 60% of their income on housing alone. The dissolution of the Redevelopment Agency requires developers, cities and institutions find creative ways to provide for much needed affordable housing options, she added.

In terms of “healthy food,” the California FreshWorks Fund, a project of the California Endowment and private-public partnership loan fund raised $264 million to bring grocery stores and other healthy food retailers to underserved communities where healthy food options are more than a 20-minute drive from home, said panelists. Tellalian stated that the fund was established in response to the severe deficiency in healthy food options in South Los Angeles. He added that the fund incentivizes retailers to invest in neighborhoods where they may not otherwise due to lack of data on the viability of the market, lack of infrastructure or attractive existing building conditions and lack of tolerance for risk in times of economic uncertainty.

Another major point from panelists was transit. “The County of Los Angeles made a conscious decision to invest in transit with the passage of Measure R by more than a 2/3 vote,” stated Gertler. He continued, stating that in order for the transit infrastructure to be effective, it needs to be part of a larger vision for Los Angeles. The fate of too many projects is determined by local communities one small piece at a time. There is a bigger connection between transit, the built environment and zoning that must be considered and harnessed at the regional level. “Connectedness and engagement are fundamental elements of healthy communities” Gertler added. “Transit must function seamlessly within the surrounding neighborhood and regional context to successfully achieve that goal.”

Estolano added that what the city is lacking is a “clearly articulated vision of what we want future growth, development and planning to accomplish.” She asserted that the vision must be framed around how a person lives in the context of where their children go to school, how they commute to work with or without a car, how far work is from the home, access to healthy food and ability to interact with their neighbors outside of their personal property.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.