Hudson Pacific Properties, Inc. ("Hudson Pacific") (NYSE: HPP ), a Los Angeles-based real estate investment company focused on West Coast epicenters of media and tech, and Macerich (MAC) - Get Report, one of the nation's leading owners, operators and developers of one-of-a-kind retail properties in top markets, announced today that they will fast-track more than $650,000 to artists in Los Angeles impacted by COVID-19 through the Vibrant Cities Arts Grant. The funds are associated with the One Westside project, a joint venture between Hudson Pacific and Macerich, which is converting the former Westside Pavilion mall into Google's newest Los Angeles campus. Consistent with the joint venture structure, Hudson Pacific will fund the majority of the Vibrant Cities Arts Grant.
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The devastating impact of COVID-19 on the local art community spurred the program, which will direct funds to individual artists or artist groups to either recoup lost funds from canceled programs or to support ongoing artistic endeavors. Special consideration will be given to female and LGBTQ+ artists and artists of color as well those presenting work on social justice, civil rights, the physical environment and other contemporary social issues.
"At Hudson Pacific, we know that the artistic community is part of what makes our city so vibrant, and we want to help support artists across Los Angeles during this challenging time," said Chris Pearson, Vice President of Development, Planning and Government Affairs at Hudson Pacific. "We are pleased to come together with our partner Macerich to launch the Vibrant Cities Arts Grant, which is designed to provide a financial lifeline to a wide array of artists with a specific focus on supporting people of color, female and LGBTQ+ artists."
"Macerich prioritizes the needs of local communities in our operations, development and ongoing outreach, in Southern California and around the country," said David Short, Executive Vice President, Asset Management, Macerich. "Here, where the arts are so much a part of people's lives and our regional economy, we're happy to join with our partner Hudson Pacific to help individual artists continue to forward their creative work."
The City of Los Angeles Department of Cultural Affairs' Private Arts Development Fee Program requires owners pay an arts fee associated with private development projects. Rather than allocating these funds to commission artwork for the property, Hudson Pacific and Macerich, with support from the City of Los Angeles Department of Cultural Affairs, Arts Development Fee Program, instead will disperse funds directly to many artists in need in increments of $5,000, $10,000 or $15,000.
Grant applications will be reviewed by a three-person panel, including Pearson from Hudson Pacific, Marla Koosed, a corporate art advisor who previously served as Culver City's Arts Commission Chair and Beau Basse, Founder & Creative Director, LeBasse Projects, which works with civic organizations, private developers and global brands to design, develop and execute public art programming. Further details and application instructions are available at VibrantCitiesArtsGrant.com.
Applications will be accepted beginning January 4, 2021 until the funds are exhausted. One of the program's goals is to quickly process applications to expedite essential funds to artists and arts organizations in need.
Hudson Pacific has a history of supporting the local arts economy with activations and permanent installations on multiple projects in Los Angeles and across its West Coast portfolio. These include public murals and art installations at Hudson Pacific's EPIC, ICON and Harlow properties in Hollywood, and 4th & Traction and Maxwell in the Downtown Los Angeles Arts District. This initiative also dovetails with Hudson Pacific's Better Blueprint corporate responsibility platform, which aims to foster the growth of sustainable, healthy and equitable cities. For more information on Better Blueprint, please visit https://www.hudsonpacificproperties.com/responsibility.
Across its portfolio of major retail properties in attractive U.S. markets, Macerich integrates a variety of artworks and larger-scale installations that heighten the cultural experience for millions of shoppers each year. Among the latest examples is Fashion Outlets of Chicago, which in November unveiled two commissioned pieces by Chicago artists Sun Jang and Matthew Hoffman, joining the property's permanent collection of 14 commissions. At luxury leader Scottsdale Fashion Square, an extensive art walk features pieces ranging from a generative video installation to powerful murals, sculptures and unique architectural elements. Many artworks at Macerich properties also align with the company's industry-leading focus on sustainability.
About Hudson Pacific Properties
Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more. Hudson Pacific is publicly traded on the NYSE under the symbol HPP and listed as a component of the S&P MidCap 400 Index. For more information visit HudsonPacificProperties.com.
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT), which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence on the West Coast and in Arizona, Chicago and the New York Metro to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years, 2015-2020. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.
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