Another interesting Los Angeles RE article.
@Francis A. This is a very interesting article. I work downtown and see the money being poured onto Olive. Those skyscraper lofts are going to be quite luxurious. The downtown affect is spilling over into K-town and Boyle Heights. Definitely interesting times ahead of us... Thanks for sharing.
The Sears Tower Adaptive reuse redevelopment in Southern Boyle Heights is another noteworthy development that will add even more rental units at rates between 15-25% above market.
My supplement to that downtown LA status report, would be the lower standard of living =L
i thought there would be less apparent homeless roaming around in downtown LA than NYC.. not more.
Downtown LA is continuing to grow and develop. Lots of new apartment buildings, malls, etc under development.
@Jon Huber You're right. It's pretty much over in terms of "affordable". I know at least two companies that work in buildings around Olive and 9th that are going to have to relocate because the rents (when they come up for renewal) are going to be unspeakable. The upside is that you can still buy duplexes for around $400,000 just 15 minutes away (south of the 10 freeway) but that will also change shortly.
I was still living in NYC when Mayor Guilliani literally swept Manhattan clean of its homeless population - in one fell swoop. It literally took about a week or two and it was DONE. People kvetched and moaned about cruelty but Mayor Guilliani wasn't swayed. The mantra was speak up and be shipping back to your home state or else...
Regarding Los Angeles, when I first moved to LA, downtown at night looked like a dystopian / Mad Max type movie set. I drive through there at least twice a month out of sheer curiosity every time I go to Little Tokyo - just to eye ball the transition.
Those homeless encampments in downtown LA are (without sounding insensitive) are living on borrowed time. ALL those buildings with exception of a few like the Weingart foundation will be reclaimed. You can bet my last dollar on that. I'm still in total disbelief at the ongoing transformation.
I have friends who visit from out of state once every two years. When they first started to visit Los Angeles 15+ years ago, they would stay at that "interesting" Hostel on S. Grand between 8th & 9th that has the great hole in the wall Indian restaurant on the ground floor - Gill Indian restaurant. Every time this couple visits, they're even more floored by what has happened. Maybe there is, but I'm not sure there is another city in the US that has had its downtown explode in the manner that downtown LA has exploded in such a relatively short time.
An acquaintance who works in the area once told me that cops can arrest any homeless person loitering north of 7th Street(?). Well...
Anyway, I don't think the City of LA has enough money to pay the man who ( I believe) has to be credited for starting it all this economic activity when he built the Staples Center - Phil Anschutz! :-)
warning, not for the faint of heart or those who ate, are eating, or going to eat anytime son!
Last time I rode the NYC subway, in 2009, a homeless entered the crowded car during evening rush hour sat down on a bucket sit and began taking a crap. One of the straphangers shouted 'When you gotta go, you gotta GO!'.
We were seemingly all holding out breath, and of course when next stop reached, fled the car.
I wondered, what if there was a long delay before the next stop? There had been many times prior when subway cars would sit in one spot for hours between stops on multiple occasions, due to 'police investigations' etc, often full of people including myself opening the mini windows trying to get some air in, as our breathing condensed on the glass and metallic surfaces all around.
I do hope somehow the traffic control keeps up with Downtown LA's ongoing development into a megacity the likes of NYC.
My hope was to move cross country for more space and higher quality of living despite both LA & NYC being such densely population areas. At least Downtown LA has more space to spread out; whereas downtown NYC has only the tiny narrow island of Manhattan (New York County) unless we count downtown Brooklyn etc as part of downtown NYC.
I'll never forget the walk from work downtown Manhattan to Forest Hills, Queens back in 9/2001 when everything was shut down. Nor the smell of the incinerated thousands of bodies (RIP) that lingered for weeks upon weeks around pretty much all the 5 boros & NJ.
@Account Closed Brooklyn might be more than "part of downtown". The prices are reaching Manhattan prices. Once again I shake my head. Red Hook was a fearsome place back in the mid nineties. Today art galleries abound. My brother in law lives in Fort Green. Converse has a now famous recording studio there. Forget about Park Slope. Rents through the Wazoo! AND for what it's worth (and it's worth something) Brooklyn is hipper than Manhattan can ever hope to be. Amazing.
Even adding up al 5 boros (Manhattan, Bklyn, SI, Bronx, Queens), how large is NYC? 30 square miles?
Compare that to LACity.. how big is it, 500 sq miles? LOTS more room to grow that NYC can ever keep up with, imo; theres only so high u can go.
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