Downtown LA once had a reputation for big, open spaces in raw lofts at dirt cheap prices. The prices were once dirt cheap in the 1980s because Downtown Los Angeles had fallen into blight, with Skid Row homeless, prostitutes and drug dealers had taken over. Buildings were in disrepair, and the dirt cheap prices were for a good reason. There were many problems and few solutions in DTLA at that time. Starving artists loved the situation because they could build works of art and create their own artist haven in the big fixer lofts. This story would change dramatically.
Today, Downtown L.A. benefits from an urban renaissance with many billions of dollars in improvements to infrastructure, metro transportation and new housing, some low income and lots of new luxury housing. While there has been a bit of moderate income housing assistance, the middle class have been largely squeezed out of Downtown LA. In fact, while assistance to homeless and enhancements to law enforcement have increased a bit, DTLA has gone up two full notches in standard of living from blight, passing up middle class, and turning into a full-fledged luxury neighborhood with average rents above $2,500 per month and average home price above $600,000. More info at www.ArtLoftLA.com.
With prices soaring, finding affordable artist lofts is more important to more people than ever before. Get a free list of affordable artist lofts for sale or lease. Fill out the online form:
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.