In the last chapter (CH 19) of one of the books frequently recommended on this site
(BUY AND HOLD – 7 STEPS TO A REAL ESTATE FORTUNE (by David Schumacher)
the author lays out an interesting set of insights on THE ALAMEDA CORRIDOR.
It’s interesting to note that you will find multi units that cash flow (yes, in Southern California) along the the residential areas all along this route. (Cash flowing 5 unit buildings seems to be an interesting feature in some of the areas btw).
This (The Alameda Corridor) makes the implications of the changes that the author is talking about so much more interesting especially since we’re only 5 years away from 2020 and beyond.
The first 4 paragraphs:
THE ALAMEDA CORRIDOR AND ITS FUTURE IMPACT ON CALIFORNIA AND THE NATION.
“ After 20 years of planning and five years of construction, the 20 mile railroad, which opened in April 2002 has and will continue to significantly affect both Southern California and the nation for decades to come.
During the early 1900s, New York became one of the greatest cities in the world due primarily to trade and the sudden influx of ships into the York harbor, New York became the hub of the world mainly due to commerce from Europe. As trade increased, many cities in the eastern and southern Unites States became very prominent, especially cities of the New England states and Louisiana territory. As the development of America spread westward, trade became larger and larger and boomed into tremendous activity. As a result, real estate flourished in New York. The George Washington Bridge was built and skyscrapers towered towards the heavens.
The cost of living there has always been more expensive than on the west coast, but the west coast will have its turn. By 2020 southern California will surpass everywhere else in the country for trade activity. The Pacific Rim countries are much larger and more dramatic than what Europe was at the tum of the century. Trade will be so monumental and the economy will be unparalleled compared to what happened at the turn of the Century. This will have a dramatic effect on real estate. Unless the density requirements are changed by local authorities, we will not see high-rise structures along the west coast in the same density as the east coast.
The Alameda Corridor is already playing a major role in this gigantic trade influx. This new railroad connects the transcontinental rail yards near downtown Los Angeles to the ports of Los Angeles and Long Beach along Alameda Street via a series of bridges street improvements. underpasses and overpasses. The corridor passes through Wilmington, Rancho Dominguez, Carson. Compton, Lynwood. South Gale, Huntington Park and Vernon. It accommodates rail traffic for both the Burlington Northern Santa Fe Railway and Union Pacific Railroads. utilizing three rail tracks. Approximately 90 miles of rail branch has been consolidated into one high-&peed 20-mile corridor. “
Interesting info @Francis A.
Thanks for sharing :-)
Already a superstar and it will ascend to the top of the heap. You gotta love LA.
Ironically, I just saw this on Figueroa @ USC today. One day we'll look back and marvel at how change descends upon us - boom! Not too long ago, downtown was dead at night except for those "underground" clubs with no signs on the doors! Today, downtown might as well be Disneyland!
Yes LA is definitely a progressive city.
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