Leaders Aim to Boost L.A. Investment During Asian Trade Mission
Los Angeles-based architectural firm Jerde joins a 10-day trade mission in Asia led by Mayor Garcetti to boost Asian investment and tourism in Los Angeles.
“Our firm is a good example of what the trade mission was aiming to accomplish, in that we have not only had success in designing great projects overseas, but we’ve also brought business back to Los Angeles in the form of foreign investors looking to find projects here,” Martinkovic tells GlobeSt.com. Jerde has worked on several projects throughout Asia, including Tokyo’s Roppongi Hills, D-Cube City in Seoul, and Langham Place in Hong Kong. “I opened Jerde’s Asia office back in 2000 so I brought firsthand experience to the trip,” adds Martinkovic.
Jerde joined the trip to contribute its experience designing projects in the markets toured, particularly in TOD and mixed-use models. During the trip, Martinkovic emphasized the importance of placemaking in the design process. “I was able to talk about how our design experience in Asia can also work in Los Angeles,” he says. “I was able to illustrate, through the projects we’ve done in the countries we visited that our core philosophy behind our work has always been placemaking. We care as much about the impact our project is going to have on a community as we do about the actual design. So it’s important for us to take this focus on community and direct it in our own backyard, to become even further engaged with and invested in the development of Los Angeles.”
The general tone of the trip was extremely positive, from both L.A. leaders and Asian leaders. Los Angeles serves as a gateway hub for Asian markets, and has become a hotspot for foreign investment activity as a result. “Everyone was interested in promoting open and free trade, and there was a recognition that such trade would be extremely beneficial to all parties,” adds Martinkovic about the tone of the trip. “One of the great things about Los Angeles is that it’s an incredibly diverse City, and serves as a true international hub of activity. This certainly extends to the local economy, for which foreign investment can be a huge boon.”
As Los Angeles embraces density, the city will look to other markets for models and strategy. Asia certainly is a market that Los Angeles could emulate, especially considering that L.A. serves as a gateway to Asian countries. “L.A. is going to need to start continue to become an even more vertical city,” explains Martinkovic. “We simply can’t keep pushing the boundaries of our city outward, giving people longer and longer commutes, lessening their quality of life, and so on. There is an embrace of, and capitalization on, density in most Asian cities, that has informed much of our work there and is something that we could certainly introduce more of here at home.”
In addition to density, Asia has also focused on transit-oriented development and mixed-use development for decades. “The need for more transit-oriented projects—the type of projects we’ve been designing for decades in Asia—is becoming more acute here,” says Martinkovic. “It’s been great to see Los Angeles embrace public transit more, and it’s exciting to have seen more and more of these transit-oriented projects coming to life throughout the City and the entire Southern California region. Executing those projects the right way, and maximizing their potential—that’s the type of expertise we’re definitely looking to bring back home with us.”