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CRE Developer Rick Caruso's LA Mayoral Bid Heats Up

CRE Developer Rick Caruso’s LA Mayoral Bid Heats Up

Rick Caruso, one of the most successful real estate developers in Los Angeles, finds himself in a two-person runoff for Mayor in the country’s second largest city. While some wonder if a businessman with zero political experience can defeat Karen Bass, a six term member of Congress in November, there’s no question that Caruso will try and use a different approach to tackle the city’s issues.

In a recent AIR CRE Fireside Chat, Caruso talked about his early career as a lawyer, followed by his interest in real estate, and his success as a developer for Caruso. He maintains that his company’s mantra is to give people joy, that his projects like The Grove in West LA and The Americana at Brand in Glendale, revolve around a central meeting place for people to gather, complete with fountains and a trolley. 

Caruso says his developments also reflect his desire to do things differently, to think “outside of the box”. It’s that mentality that Caruso claims will make him a good mayor. While he has no political background, he has had plenty of civic engagement, both as President of the LA Department of Water and Power and as the youngest Police Commissioner ever in the city. Caruso has also served as Chair of the USC Board of Trustees.

In his run for Mayor, Caruso makes it clear that he is not interested in making politics a career, that his allegiance is, quote, “only to the people of Los Angeles.” If he wins the election, he says he will hire smart people, use his creative thinking, and figure out solutions to homelessness and lawlessness that has made many parts of LA unsafe.

During the chat he discussed getting people off the street, putting a roof over their heads and providing psychiatric care. Caruso even mentioned meeting the owner of a company called Boxabl that builds 200-square-foot homes for $60,000, that could potentially be used to help solve the city’s housing crisis. He said, “A factory that builds those residences could provide jobs and also house people. We need to tap into innovation and technology. That’s the way a mayor should think.” 

In November, in what is expected to be a close race, the citizens of Los Angeles will decide if Rick Caruso will be the candidate to put those thoughts into motion. 


Inside The Story


About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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