LAX PBID Begins Improvement & Expansion Plan

FOR IMMEDIATE RELEASE             February 27, 2001                       

GATEWAY TO L.A. PBID BEGINS IMPROVEMENT AND EXPANSION PLAN
New President Named, Executive Director Contract Renewed
and PBID District Office Opens

LOS ANGELES -With triple the budget, the much-expanded Gateway to L.A. Property-Based Business Improvement District (PBID) begins its improvement and expansion plan. The Gateway's first order of business was to elect Jupiter Realty Corporation Executive Vice-President Jerry Ong as President and secured a commitment from Merry Norris to continue as Executive Director. The PBID also opened an office at 6151 Century Blvd.

Jerry Ong, Executive Vice-President of Jupiter Realty Corporation, a Chicago-based real estate corporation, was recently named as President of the Gateway to L.A, a volunteer position that carries with it fiduciary responsibilities. "I'll help create strategy and direct its implementing in conjunction with staff and executive committee members," said Ong, "We will be hiring a Services Director to assist the executive director and the executive committee in the overall administration and operation of the PBID."

In 1998, Jupiter became a part of the Century Corridor PBID when it acquired 50 percent ownership (co-owner is G.E. Capital) of 715,000 square foot property of high-rise office building's Airport Center I, II and III on Century Blvd. Recently 200,000 square feet in leases were signed, worth more than $25 million at Airport Center I, II & III.

Merry Norris will continue to serve as Executive Director of the Gateway to L.A.; a position she has held since 1998. According to Ong, "Merry is responsible for the day to day operation of the PBID. Under her leadership, we have developed a productive working relationship with the Los Angeles World Airports (LAWA). She worked with LAWA officials to bring enhancements to the Century Boulevard corridor and has secured millions of dollars in improvements for the area." Norris, an arts advocate and consultant, played a critical role as a liaison with the GATEWAY LAX design team and the Cultural Affairs Commission.

With the Gateway to L.A. expanding its operations, the PBID opened an office in the district. Jupiter Realty donated the suite in Airport Center I at 6151 Century Blvd., Suite 121. The office serves as the PBID's operational headquarters and once hired, the PBID District Services Director will be based there. In addition to expanding their operations, the renewal of the PBID also tripled the yearly budget. According to Ong, "Our increased budget has been earmarked for additional marketing and promotional activities and a goodwill ambassador program for Century Blvd."

The Gateway to L.A. PBID is a hub for visitors and businesses. The 4.4 million square foot PBID area features 12.3 million square feet of improvements, including a collection of 13 hotels, office buildings, restaurants, services, small businesses and several major parking facilities which serve area businesses and LAX. More than 30,000 people work in the PBID area. In August, the Los Angeles City Council voted to renew and expand the PBID, tripling the district's operating budget from $175,000 to $690,000 and extending the program through 2005.

# # #