Rick Caruso, the billionaire developer behind The Grove, ended months of speculation on Thursday when he announced he will not run for mayor of Los Angeles in 2013.
"As a lifelong Angeleno, I have dedicated my career to supporting Los Angles through world-class developments, creating jobs and economic benefits and in working with civic and community organizations throughout Los Angeles," Caruso said in a statement. "I look forward to continuing to contribute to our city by focusing on endeavors that enrich the lives of the people in this city."
Caruso – who reportedly hired a team of political consultants to help him mull a mayoral run – added that this is not the appropriate time to leave his company Caruso Affiliated, whose properties include The Grove and the Americana at Brand.
A run by Caruso would have shaken up a race made of City Hall veterans, including Controller Wendy Greuel and Councilman Eric Garcetti. Campaign finance reports have the pair virtually tied at $2.8 million each. Another forerunner, Councilwoman Jan Perry has raised some $1.3 million so far.
Caruso boasts a long resume of municipal work in Los Angeles. In 2001, he was elected president of the Los Angeles Police Commission and led the five-month search to appoint William Bratton police chief the following year.
He’s also served on LA’s Board of Water and Power Commissioners and the Los Angeles Memorial Coliseum Commission.
Caruso did not reveal who he'd throw his support behind, if at all, but his would-be competitors seized the announcement to highlight their own credentials.
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"Now, as the only candidate with real world experience in both a large and small business, I'm confident voters will look to my leadership to help get Los Angeles working again," Gruel said in a statement.
According to KPCC, a consultant with the Perry campaign said she is the “only candidate committed to real reform."
