The Skyrocketing Cost of Downtown – Los Angeles Rentals Get More Expensive

As the Downtown community grows rapidly, and rents continue to skyrocket, will the next wave of housing create more up affordable homes? Probably not, says the Los Angeles Downtown News.

Downtown Los Angeles Loft Rentals
Downtown Los Angeles Loft Rentals
Downtown is now brimming with a population of more than 50,000, and is in the middle of a housing boom that has made it one of the hottest real estate markets in the USA.

Billions of dollars have poured into the community in the past 10 years, while additional billions are already in the works.  According to the Downtown Center Business improvement District, more than 9,000 apartments and condos are under construction and another 13,500 units are being proposed.

When Downtown was more empty and gritty during its 1960’s to 1990’s decline, only a few bold artist types and a few Downtown business people lived here.  Now Downtown appeals many more who are seeking an exciting urban home that is walkable to many new shops,  restaurants, entertainment and public transportation.  The mainstream crowd is now on its way.

Downtown has created a large number of tech and media jobs recently, raising the average income, and allowing higher rents. Land costs have gone up, and the City of Los Angeles creates higher prices with more bureaucracy and limitations on apartment construction.  It takes months or years to just to get construction started in L.A. The results is rents that are up by 10.4% in a 12-month period.

Like the rest of America, the middle class is getting squeezed out of Downtown by policies that increasingly favor the wealthy and the poor, while ignoring the hard-working person who would like to move to Downtown.  In 2012/2013, the state and federal governments both stopped several programs to help the middle class to rent and buy in Downtown.

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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Copyright © 2015 This free information provided courtesy Corey Chambers, Realtor, Realty Source Inc BRE#01889449 We are not necessarily associated with the owner or management. For more information, contact (213) 478-0499 or visit LAloftLease.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, seller or renter is already under contract with another broker.

The Jeffries 117 E WINSTON ST, Los Angeles, CA 90013 Downtown Loft Apartments For Lease

The Jeffries is a luxury apartment that sits in The “Old Bank District,” a trendy neighborhood that houses some of the finer restaurants and nightlife that Downtown Los Angeles has to offer. The contemporary building stands out amongst its naturally historic surroundings and therefore provides tenants with a unique living experience.

jeffries-loft-e

NEW LISTINGS

Forty-three units, interconnected by spacious hallways, range from 550 to 1,000 square feet providing ample space for tenants living on the building’s 7 floors. Large-scale windows provide tenants with an abundance of sunlight and glorious views of the city.

William Parrish Jeffries commissioned the seven-story building located on 117 East Winston Street in 1906. At the time, wholesale warehouse buildings and railroad tracks surrounded the property. Architectural firm Train & Williams designed the building for Jeffries’ printing and engraving business the W.P. Jeffries Company.

The building was constructed to be “fire-proof,” and includes a concrete incased steel frame and brick infill interior walls. Because the interior steel frame holds so much weight, the building has the luxury of filling a great portion of the exterior walls with large windows. In 1928, the company announced the incorporation of Jeffries Banknote Company and became the only company on the West coast to have the equipment to produce bonds and stock certificates engraved in accordance with the New York Stock Exchange. Tickets for the 1932 Olympics were also printed exclusively at the building.

In 1964, Jeffries decided to move his company to Pico Boulevard and sold the building to the Title Insurance and Trust Company. The California Environmental Quality Act (CEQA) considers the building at 117 Winston Street a historic recourse because of its ties to Train & Williams architecture and W.P. Jeffries.

Amenities:

Common
Game Room
Gym
High Speed Internet
Laundry Facilities
Lounge Area
Media Lounge
Convenience
Adjacent Parking Available
Freight Elevator
On-Site Management/Maintenance
Passenger Elevator
Pet-Friendly
Storage Spaces Available

Security
Cameras On Groundfloor
Security On Premises

Living
Balconies
Concrete Floors
Dish Network
Energy Star Kitchen Appliances
Euro-Style Cabinets
Exposed Brick Walls
Granite Counters
High Ceilings
Individual HVAC
Large Windows
Pet Friendly
Restaurant & Lounge
Stainless Steel Appliances
Track Lighting
Versatile Floor Plans
Views of Downtown
Walk-In Closets
Window Treatments

To request new listings or schedule a viewing of The Jeffries lofts for lease. Fill out the online form:

NEW LISTINGS

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

button        button (1)        

SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $10,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

ASCENDING ORDER (low to high)    |    DESCENDING ORDER (high to low)

Copyright © 2015 This free information provided courtesy Corey Chambers, Realtor, Realty Source Inc BRE#01889449 We are not necessarily associated with the owner or management. For more information, contact (213) 478-0499 or visit LAloftLease.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, seller or renter is already under contract with another broker.