Rick Caruso serves as chairman of Steadfast LA. (photo courtesy of Caruso)

Developer and businessman Rick Caruso has launched Steadfast LA, an organization bringing together the expertise, influence and power of the private sector to expedite the rebuilding of communities affected by wildfires.

Caruso, who owns and operates The Grove, Palisades Village and the Americana at Brand, among many other properties, said the magnitude of the challenge is too vast for government alone to handle. The nonprofit Steadfast LA will collaborate with local, state and federal government to minimize delays, encourage action and develop solutions. Steadfast LA is composed of leaders in real estate, finance, construction and infrastructure.

“Rebuilding these communities and getting people back in their homes isn’t just our responsibility – it’s our job, and we’re rolling up our sleeves to make it happen, full stop,” said Caruso, chairman of Steadfast LA. “This isn’t about meetings and paperwork. It’s about getting our hands dirty, breaking through obstacles and physically rebuilding – brick-by-brick, street-by-street. Public and private collaboration at an unprecedented scale is what it’s going to take. Together, we can and will fix this. With the government providing the tools and the private sector bringing urgency, expertise and hard work, we can cut through red tape, lay foundations and make sure these communities don’t just come back, but come back stronger. This is more than a project – it’s a mission to prove that real leadership means results, not just promises.”

Steadfast LA will use a multifaceted strategy focusing on efficiency, accountability, resources and action. In terms of infrastructure, the goal is to build stronger, smarter and more resilient systems. Rebuilding efforts will focus on rapidly restoring homes, businesses and communities affected by the wildfires. Steadfast LA aims to build community by strengthening neighborhoods and supporting displaced families. The nonprofit will also focus on ensuring transparency and collaboration with the public and implementing long-term solutions.

Steadfast LA’s day-to-day efforts are led by executive director Najla Kayyem, a real estate expert in the development, management and operations of housing and retail. The nonprofit also includes Nicole Avant, former U.S. smbassador to the Bahamas, businesswoman and philanthropist; Andy Cohen, global co-chair of Gensler; Jack Dangermond, president of Esri; Olivier de Givenchy, west region head of J.P. Morgan Private Bank; Greg Econn, president of Venbrook Insurance Services; Kobie Fuller, general partner of Upfront Ventures; Mike Hopkins, head of Prime Video and Amazon MGM Studios; Lew Horne, president for advisory services for CBRE; Jason Keller, managing director and head of residential investments for Oaktree Capital Management; Joe Lonsdale, managing partner of 8VC and co-founder of Palantir; Adam Mendelsohn, founder and CEO of Upland Workshop; George J. Mihlsten, of Latham & Watkins; Harry Robinson, senior partner with McKinsey; Ted Sarandos, CEO of Netfilx; Carey Smith, chair, president and CEO of Parsons Corporation; and Corinne Verdery, CEO of Caruso.

Steadfast LA is calling on business leaders, community members and civic partners to join. As chairman, Caruso will lead the effort and ensure that it maintains the operational autonomy to drive action and high-impact results. For information about partnering with Steadfast LA, visit steadfastla.com.

Steadfast LA was launched less than a week after Gov. Gavin Newsom announced LA Rises, a private sector initiative led by Los Angeles Dodgers chairman Mark Walter, Earvin “Magic” Johnson and LA 28 president Casey Wasserman. The organization supports the rebuilding of Los Angeles by fundraising and expanding access to philanthropic and private capital, formulating financing strategies to close the gap between available resources and the cost to rebuild, collaborating with other philanthropic and community organizations to maximize the impact of ongoing rebuilding and recovery efforts and supporting unified communication efforts so property owners have all the necessary information when rebuilding.

The Mark Walter Family Foundation and the Los Angeles Dodgers Foundation provided an initial commitment of up to $100 million to help fund recovery. LA Rises plans to raise additional funds through private donations. California Rises, a statewide recovery initiative founded by Newsom and First Partner Jennifer Siebel Newsom after the 2018 Camp Fire, is also contributing to LA Rises.

In regards to working with Steadfast LA, a spokesperson for the governor’s office said Newsom welcomes philanthropic efforts that help Los Angeles recover.