Joby Aviation (NYSE: JOBY) and Reuben Brothers have unveiled plans to develop a vertiport for electric air taxis at the Park Elm Residences within Century Plaza in Los Angeles. The facility would repurpose the South Tower's existing helipad and add charging infrastructure and a passenger lounge, marking a significant step toward integrating urban air mobility into a major metropolitan area.
The vertiport is designed to accommodate electric vertical takeoff and landing (eVTOL) aircraft, which can lift off like a helicopter and transition to forward flight like a conventional plane. Joby aims to offer residents and visitors in the greater Los Angeles area the ability to book flights that could slash travel times—what might be a two-hour drive could be reduced to as little as five minutes by air, according to Reuben Brothers.
Regulatory Hurdles Remain
Despite the ambitious plans, the project remains subject to a multi-layered approval process spanning local, state, and federal authorities. Joby itself is still pursuing commercial certification from the Federal Aviation Administration (FAA). The company recently began flying its first certification test aircraft, a key milestone toward obtaining type inspection authorization, which would allow FAA pilots to scrutinize the aircraft before granting final approval for commercial operations.
Rob Wiesenthal, head of Joby's Blade Air Mobility division, described the Century City location as "ideally positioned" for launching a broader Los Angeles network, starting with airport routes. Jordana Yechiel, director of residential design for Reuben Brothers, emphasized that air-taxi access would be a premium amenity for residents, linked to the expanding vertiport coverage across the city.
Industry Context and Competition
Joby's announcement comes amid a competitive race to commercialize eVTOL services. In March, the FAA and Department of Transportation selected eight pilot projects spanning 26 states for the eVTOL Integration Pilot Program, with Joby appearing in several alongside Archer Aviation (NYSE: ACHR) and BETA Technologies. Insights from these pilots are expected to inform future FAA regulations for advanced air mobility operations.
The company's progress is closely watched by investors. Joby shares edged up 7 cents to $8.56 early Friday, valuing the company near $7.2 billion. Archer also traded higher, while shares of Vertical Aerospace dipped.
Leadership Change and Financial Outlook
Joby also disclosed that Didier Papadapoulos, president of Aircraft OEM, will step down on July 3 after five years leading aircraft development. The departure is described as amicable, with Papadapoulos expected to remain in an advisory role. The company is scheduled to report first-quarter 2026 results after market close on May 5, with a webcast at 5 p.m. ET.
Risks remain, however. Revenue could be delayed if approvals stall, certification faces setbacks, or initial demand disappoints. Additional capital requirements could add pressure. Joby has flagged challenges including launching service, meeting production targets, adapting to regulatory changes, and securing sufficient funding.
