The West Adams project is the latest Shaul Kuba real estate transformation. Critics cry gentrification. The CIM co-founder says it's a value-driving revival.
Real estate developer Shaul Kuba specializes in elevating neighborhoods on the cusp of a comeback, and he's been part of some big ones. He led revivals of the Third Street Promenade in Santa Monica in the 1990s, central Hollywood soon after that and now L.A.'s West Adams district east of Culver City.
'All of a sudden the real estate market in West Adams is becoming a real viable market of buyers and sellers,' he said. Since 1994, CIM Group, the company Kuba co-founded with Richard Ressler and Kuba's high school and Israeli army buddy Avi Shemesh, has owned, managed or developed more than 200 office, retail, residential and hotel properties in the Los Angeles area. He still speaks of it with the zeal of a convert.
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