In Escrow – 738 S Los Angeles St #302, Los Angeles, CA 90014 Downtown L.A. Lofts Sold

How to Get into Escrow and Close Successfully in Downtown Los Angeles

Some happy home buyers just got into escrow with the best deal on a Downtown loft with a balcony at the Eckardt Building. Escrow generally refers to money held by a trusted third-party on behalf of transacting parties, and to the process of smoothly bringing together all of the paperwork and payments required to change property ownership. For Downtown homes, it is helpful if the escrow company is familiar with commercial and industrial loft conversions, as they may require some extra steps and expertise for a smooth transaction.  |  Avoid Common Downtown Disasters   #escrow #dtla #lofts

Getting into escrow is a key goal for both buyers and sellers.  It is often the happiest part of a real estate transaction because the light can be seen at the end of the long real estate transaction tunnel. Buyers and sellers are often happiest at the beginning of escrow because they typically face challenges before and later during escrow with hurdles that still must be overcome such as inspections, further negotiations and delays in obtaining the home financing and closing.  | Recently SOLD in Downtown Los Angeles

The very first part of the transaction can be daunting when the buyer has trouble finding and winning the bidding war on an amazing Downtown loft while the seller can have difficulty in finding the right buyer with the right offer and sufficient financing. With the right information, home buyers and sellers can take advantage of all of the profitable opportunities that DTLA lofts have to offer.

When the property gets into escrow, Buyers and sellers can prevent inspection problems and avoid delays by knowing in advance about potential loft lending issues, loft building issues, lawsuits, litigation, retrofit inspections, Mills Act and Adaptive Re-Use Ordinances that affect most of the real estate transactions of Downtown Los Angeles.

Which of These Costly Homeseller Mistakes Will You Make When You Buy or Sell a Downtown Loft?  Get FREE a free report by completing the form on this page. A new report has just been released which reveals 7 costly mistakes that most Downtowners make when buying or selling a home, and a 9 Step System that can help your DTLA home transaction proceed smoothly. Order this report NOW to find out on preventing common Downtown loft problems. Fill out the online form:

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Downtown Los Angeles Homes Sold Prices

In Escrow Downtown Los Angeles Lofts and Condos Sold
In Escrow Downtown Los Angeles Lofts and Condos Sold

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.

Los Angeles Loft Laws: Adaptive Re-Use Ordinance, Litigation, Lawsuits LALoftLaws.com

Before looking at lofts for sale, prospective buyers want to know how a live/work loft fits into our lifestyle and our finances. #dtla #lawsuits

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How does a loft work as an investment?  Buyers need to know how lofts fit into the real estate industry, how to avoid the problems with lofts such as loft lending problems, lawsuits, litigation and other issues that affect the loft buildings and sometimes plague urban neighborhoods. Investors can cash in with big tax advantages that come with lofts in some historic buildings.

LALoftLaws.com

To help Downtown homeowners and would-be urbanites to make the right decisions, the LA Loft Blog has created several information resources to help avoid the down sides of Downtown while enhancing lifestyles and real estate investments.  The newest is the new domain LALoftLaws.com, which contains much information about the legality of live-work lofts in L.A.  The site also points to other much-needed info on lawsuits, litigation and other issues of DTLA loft buildings.

Financing Fiasco!  In addition to lawsuits, the biggest disaster that often happens to loft buyers is finding out too late that their traditional home loan is not going to work for a loft purchase. Here’s what happens all the time: The buyer’s buddy Joe, who’s a mortgage guy and long-time friend, says, “Sure we’ll hook you up.”  NOT!!!  Joe has no idea what a loft is, and the buyer finds out too late that Joe cannot really get the financing done because of the many issues that loft buildings often have. Lofts are an uncommon type of real estate. Get details about this common problem at www.LALoftLoan.com

Special Assessments

Downtown lofts have not seen many special assessments until recently.  One has popped up at the Higgins Building. The HOA recently voted to spend more than $4 million to renovate the exterior of the building, including the entire facade and portions of the rooftop and other elements.  Since the homeowners association reserves are around $1.4 million, the residents need to raise about $3 million by directly collecting cash from each home owner. Because it takes cash directly away from homeowners, a special assessment is the most serious of financial issues that a condominium community might experience. It can happen to any building, but the Higgins community was hit hard because the loft conversion developer Barry Shy did little to remedy the crumbling facade of the nearly 100 year old building when it was converted to live/work residential lofts around 2004. (Shy does deserve credit or being an early visionary in loft conversions when there was less information and guidance available on live-work loft conversion.) Today, the Higgins Building has no lofts for sale, and a convenient, new Metro station is under construction coming across the street on Spring.   LAWSUITS  |  ASSESSMENTS  |  LOFT LENDERS

Mills Act

Some loft owners save thousands or tens of thousands per year on county property taxes due to the Mills Act historic building property tax benefits. Find out the details at www.MillsActLA.com and get a free list of local Mills Act buildings in your email. 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.

What's Wrong With Downtown Lofts – Special Update #dtla #problems

While all Downtown loft buildings have issues that prospective buyers want to be aware of, the Downtown real estate market is having just a bit of a lull currently due to the relatively high prices as compared to a few years ago. It’s scary for some — an opportunity for others.

Raw lofts Downtown LA
Raw lofts Downtown LA

On top of that, people are scared of the upcoming election, and not it’s the holiday season, the only slow season for Downtown. In addition to Skid Row and nearby homeless, many loft and condo buildings also have real problems such as lawsuits and financing problems. The good news is that, even with its drawbacks, Downtown keeps outperforming expectations. Here’s just a few of the issues that buyers should know about:

1100 Wilshire – Lawsuits, reduced maintenance. Dwindling reserves. Views soon blocked.
655 Hope – Claustrophobia. Windows don’t open. No guest parking.
Alta Lofts – Notice of claim – HOA to sue developer – construction defects. Theft.
Barker Block – Lawsuit settled for construction defects.
Bartlett Building – No parking space included.
Barn Lofts – Free street parking is going away.
Beacon Lofts – Nobody knows what it is. No staff.
Biscuit Company – No metro nearby. Getting hard for guests to park.
Bunker Hill Tower – High HOA dues. No washer-dryers in most units.
Concerto Lofts – Lawsuit. HOA suing developer – construction defects.
Cornell Building – Most parking spaces are a block away in skid row.
Douglas Building – Most units have no parking. No guest parking.
Eastern Columbia – Parking lawsuit. High HOA does. Views being blocked.
Eckardt Building – Most parking spaces are a block away in skid row.
El Dorado Lofts – No amenities. Nobody’s heard of it. Don’t own parking.
Elleven Lofts – No fitness center. Shares pool and courtyard with Luma.
Evo – Lawsuit. HOA suing developer for construction defects.
Flower Street Lofts – No views and losing views. HOA dues rising.
Glen Donald Building – Not in Downtown. Dirty neighborhood.
Gallery Lofts – Construction next door.  Mostly no views.
Grand Avenue Lofts – No character. No amenities.
Higgins Building – High HOA. Special assessment. No parking. No amenities.
Library Court – No character. Most have no views. Litigation.
Little Tokyo Lofts – Homeless shelters next door.  Leak concrete. Mental clinic in building.
Luma – Losing views. Glut. Expensive. Construction nearby. Litigation.

River House LA with balconies facing the river LARiverLofts.com
New condos by the river suffer from freeway noise


Market Lofts – No character. Unfriendly security.
Metropolis Los Angeles – Not finished yet.  Expensive.  China company.
Molino Lofts – Some units not updated. Nearby construction.
Mura Condominiums – Not a loft. Oppressive rules.
Oceanwide Plaza – Not built yet. Stuck in big event traffic.
Ostrich Farm Lofts – Far away.  Out in the tulies.
Pan American Building – Nothing for sale.  Nobody has heard of it.
Promenade Condominiums – The 80s called. They want it back.
Promenade West – Expensive.  High HOA dues.
Puerta Del Sol – Disrepair. Nothing to walk to.  Freeway. Black lung disease?
Ritz Carlton Residences – Expensive HOA. Hotel nuisance. Mandatory valet parking.
River House – Freeway noise. Blah architecture. Prowling coyotes. River bums.
Rowan Lofts – High HOA dues. Most have no views. Don’t own parking.
Santee Village – Most parking spaces are a block away in skid row.
Savoy Condominiums – Not a loft. No character. Some have no views.
SB Grand – Loiterers, renters galore. HOA financials incomplete. Many issues.
Skyline Condominiums – 1980 wants its condos back.
Sky Lofts – No pool. High HOA dues. Construction noise.
SL70 – Not in Downtown. No pool.
Ten50 – Not completed yet.  Cramped floorpans. No microwave oven.
Teramachi Homes Senior Condos – Gotta be a senior age 55+.
Textile Building – Nothing really available.  Can’t lease it out.
Title Guarantee – Canceled. Nothing for sale.
Tokyo Villa Condominiums – 1979 wants it back. Weird koi pond courtyard. Outdated.
Toy Factory – No metro nearby. Slowly losing its street parking. No guest parking.
Toy Warehouse – Noisy floors and thin ceilings.
Vero – Not in Downtown. No character. Most have no views. Thin walls.

Report problems and fixes:  Call (213) 880-9910 or email update@laloftblog.com

beacon-lofts-little-tokyo-downtown

LIST OF DOWNTOWN LOFT BUILDINGS AT LALOFTBUILDINGS.COM

Get free information on which Downtown lofts have lawsuits and litigation – free info in your email. Fill out the online form:

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Raw Lofts and Fixers in Downtown L.A.
Raw Lofts and Fixers in Downtown L.A.

1100 Wilshire Special Update – Downtown Los Angeles Loft Condominiums

In a recent L.A. Loft Blog post, we reported about how the homeowners of 1100 Wilshire Blvd got what they asked for, but apparently paid an extremely hefty price (see full article).  In it, the L.A. Loft Blog incorrectly reported that Chase Bank purchased or leased control of 1100 Wilshire guest parking.  The L.A. Loft Blog has since learned that the former guest parking is primarily controlled by the commercial space owner Wilshire Commercial LLC. The free guest parking was lost in connection with ongoing litigation between 1100 Wilshire Property Owners Association and Wilshire Commercial LLC. #1100wilshire #lawsuits

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Some homeowners have since complained that the problems mentioned in the L.A. Loft Blog (loss of guest parking and reduced maintenance) are caused, not by Chase Bank, but by a rogue homeowners board that has launched extremely expensive lawsuits without majority homeowner approval.  The homeowners board and management believe that they are working in the homeowners best interests to reverse adverse impacts to the homeowners caused by actions of Wilshire Commercial LLC.

The HOA actually lost control of its valuable, once plentiful guest parking to the retail owner due to ongoing litigation with the building’s retail space owner Wilshire Commercial LLC.

Find out what Downtown loft and condo buildings are involved with lawsuits and litigation.  Fill out the online form:

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Copyright © 2016 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.

1100 Wilshire Bends Over: Chase vs 1100 vs Bixel Tower

The homeowners of 1100 Wilshire got what they asked for, but apparently paid an extremely hefty price.

CORRECTION:  The L.A. Loft Blog incorrectly reported that Chase Bank purchased or leased control of 1100 Wilshire guest parking.  The L.A. Loft Blog has since learned that the former guest parking is primarily controlled by the commercial space owner Wilshire Commercial LLC. The free guest parking was lost in connection with ongoing litigation between 1100 Wilshire Property Owners Association and Wilshire Commercial LLC.

Some homeowners have since complained that the problems mentioned in the L.A. Loft Blog (loss of guest parking and reduced maintenance) are caused, not by Chase Bank, but by a rogue homeowners board that has launched expensive lawsuits without majority homeowner approval.  The homeowners board and management believe that they are working in the homeowners best interests to reverse adverse impacts to the homeowners caused by actions of Wilshire Commercial LLC.

1100-wilshire-chase-h-2

What is, for the moment, still among the most respected buildings in the Downtown Los Angeles area has been trying for years to get all of its 3 or so commercial spaces filled up with businesses.  Everything was going great until they gave away the farm to Chase Bank. (Lesson learned: Always be very cautious when dealing with banks because they are naturally the best swindlers out there — for banks, it really is all about the money). Now Chase affects 1100 Wilshire, which you can easily see after they pulled down the 1100 sign, replacing it with the Chase sign.  The sad result so far is that the extra money from Chase does not appear to cover the cost of all of the extra wear and tear on all of the interior areas from the parking and elevator halls to the once-pristine lobby, which is not so pristine any more.  There is so much soil and wear from the foot traffic, that busy maintenance crews now appear to have trouble keeping up.  Worst of all, LA Loft Blog sources say that the HOA actually lost control of its valuable, once plentiful guest parking to the retail owner due to ongoing litigation with the building’s retail space owner Wilshire Commercial LLC.  It’s now a lot harder to have visitors over, so the once-social residents must now kiss their many friends goodbye.

Now the Chase problem is unfortunately only the beginning of 1100 Wilshire’s woes. Homeowners recently called an emergency meeting to try to come up with a strategy to prevent the future blockage of 1100 Wilshire’s pool deck by the upcoming 36-story behemoth Bixel Tower.  1100’s glorious 17th floor sundeck with high-end infinity pool, outdoor kitchens, hot tub spa with views, private party patio, cabanas and fire pit, the entire 17-th floor rooftop sun deck and south-facing units could soon be blacked out by the upcoming Bixel Tower. This will block the natural light and views, thus diminish the property values of 1100 Wilshire condominiums.

Our guess is that the residents of 1100 Wilshire, angry at recent results of dealings with Wilshire Commercial LLC and Chase Bank, will vent their frustrations at Bixel tower, perhaps putting a damper on Bixel’s sky-high aspirations.

Find out what Downtown loft and condo buildings are involved with lawsuits and litigation.  Fill out the online form:

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Copyright © 2016 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.

L.A. Loft Lawsuits – Downtown Los Angeles Litigation

It’s one of the most common disasters in Downtown. More than 20% of the listings for sale are in a building that is currently or recently involved in a lawsuit.

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Alta Lofts accusations, Evo disputes, Gallery Lofts disagreement and Barker Block battles — these are only a few examples of the legal drama and potential pitfalls of Downtown lofts.

Prospective home buyers need to know if the litigation is going to present a real problem or expense, or if it will have positive results.

Get free Downtown loft lawsuit and litigation information.  Fill out the online form:

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

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Copyright © 2016 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 necessarily associated with the home owner’s association, seller 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.

Downtown Los Angeles Lawsuits and Litigation

alta-lawsuit-01Evo, Alta, Barker Block and Bunker Hill Tower are just a few of the many Downtown loft and condo buildings that are currently, recently or soon to be in a lawsuit.

More than 20% of Downtown buildings are recently involved in lawsuits or litigation.  Usually, they are a result of the homeowner lawsuit against the developer for construction defects.

Get Downtown L.A. Litigation and Lawsuit information. Fill out the online form.

 

 

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

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Raw Lofts and Fixers in Downtown L.A.
Loft litigation and condo lawsuits in Downtown L.A.

Evo Lofts Update – 1155 S Grand Ave, Downtown Los Angeles 90015

 Evo Lofts Downtown Los Angeles Update

Evo Lofts

EVO LOFTS FOR SALE     |     EVO LOFTS FOR LEASE     |     UNLISTED LOFTS

Evo lofts building is currently involved with some type of litigation, probably the typical Homeowner’s Association lawsuit against the developer for construction defects.  There is a good chance the claim was actually sparked after some homeowners recently panicked because Oceanwide Plaza construction was breaking ground to interrupt Evo’s views of Staples Center and the West Side.  The L.A. Loft Blog recently provided unconfirmed reports that Oceanwide Plaza construction is currently on hold.

Chic Contemporary Space in the EVO Building. Spectacular City-light views, Lots of Windows and Light. Modern Kitchen with Stainless Steel Appliances inc Refrigerator.  Wood floors.  In-unit Washer/Dryer. Covered Parking.

evo-01Many buyers are not aware of the common benefits of lawsuits.  The most common results is that the home price drops during the litigation and then usually pops back up after the litigation is settled. The overall results tend to be negative for the seller and a positive for the buyer when a purchase is made during the litigation. During a lawsuit, there is often more inventory available, and at bargain price because the sellers are worried, most buyers can see the risk, yet they are not aware of the rewards. The reward for buying during a lawsuit is that the buyer will likely get extra gain on equity after settlement.  This usually happens within a few years, and often within just a few months.

One example of a bargain property that can offer greater return on investment is this Evo 12th floor 900 sq ft luxury condo loft unit with spectacular views on the east side. This unit for sale is off-market. For information on all listed and unlisted Evo lofts for sale, call (213) 880-9910.

Here’s a video walkthrough of the unlisted Evo loft for sale:

Get information on Evo homes for sale, unlisted Evo condominium units, loft lenders and litigation lenders that can finance Evo lofts during a lawsuit. Fill out the online form:

evo-pool

The modern soft loft condominium homes at Evo were created to inspire with abandon, using beautiful materials and modern palettes that are impressive, yet comfortable, and offer a truly on-of-a-kind statement of design and sophistication.

GET A FREE HOTLIST OF SECRET LOFTS AND CONDOS IN DOWNTOWN L.A.

Boundless in design, every finish and detail was given fresh through from the Evo creative team. The result is home interior adorned with materials, finishes and appliances that are unlike anything you’ve seen before. The Evo home is truly a one-of-a-kind statement of design, functionality and modern sophistication.

  • Designer stainless steel refrigerator
  • Performance Bosch stainless steel oven, cooktop and dishwasher
  • Rich wood cabinetry in matched colors: stained walnut or natural Jequitiba, White Oak, Teak, CaesarStone slab countertops in a selection of patterns” Blizzard, Oyster, Savannah, Expresso
  • Matched CaesarStone backsplash
  • Integrated Kohler under mount steel sink
  • Expansive Millennium hardwood floors in for custom colors:
  • — Natural White Oak, Stained White Oak, Doussie, Merbau
  • Nature’s Choice carpeting — Bone, Wheat, Bark
  • Outdoor terrace or balconies with glass or metallic railings
  • Voluminous ceilings with heights up to 11 feet
  • Spacious walk-in closets
  • Utility room with washer and dryer hookups
  • Prewiring for phone and data
  • Designer-matched Kohler sink, tub and fixture package
  • Warmly textured limestone slab countertops
  • Duravit vessel sink and pedestal in powder room
  • Sleek wood cabinetry in matched colors” Stained Walnut or Natural Jequitiba, White Oak and Teak
  • Elegant slate tile flooring in a selection of tones” Woodland Green, India Forest Green, Strata Grey
  • Arctic White Dal tub/shower wall tile

ad-upscale-domain-rsi

PENTHOUSE UPGRADES

  • Viking Designer Series 36″ stainless steel refrigerator
  • Viking Designer Series cooktop and convection oven
  • Built-in stainless steel GE Monogram wine cooler
  • Wood cabinetry in matched colors” stained walnut or natural Jequitiba, white oak, teak
  • Luxurious Calcutta “Ora” marble slab bath countertops
  • Calcutta “Ora” marble floor tile
  • Codfrey Hirst “Wool Creation” carpeting” Fleece, Sunset, Antique Beige
  • Designer selection of Kohler bath fixtures

Evo’s lush amenity collection is unrivaled by any in downtown. It brings resort-style indulgences right to your doorstep. Private amenities include the sixth-floor sun deck and pool with furnished gathering areas and an outdoor entertaining kitchen, the Two-Forty rooftop lounge with an outdoor terrace and fireplace overlooking the skyline, and the state-of-the-art fitness studio on the 24th floor with a glass wall of horizon views.

Evo also offers resident services and an on-site concierge by beverly Hills Concierge. This provides you with towel service at the pool and fitness studio, instant access to restaurant reservations, theatre and concert ticket purchasing, personal trainers, in-home spa services, catering and party planning, dry cleaning, dog walking and pet sitting, housekeeping services and more.

evo-lofts-building-downtown-los-angelesEvo has been created as one of the most sustainable, smart and eco-friendly buildings in the entire country. In fact, Evo is the first high-rise residence in downtown Los Angeles to be certified LEED Silver by the U.S. Green Building Council and is being looked to by officials and architects as  the construction standard of the future. To accomplish this, Evo was created with an abundance of renewable and recyclable materials, energy-saving systems, improved interior air quality, environmentally responsible construction techniques and an intelligent approach to neighborhood growth and planning. All of which add value, health, responsibility and vision to your home.

Location:  1155 S Grand Ave, Los Angeles, CA 90015

Historical Perspective

  • Actual Year Built: 2008
  • Effective Year Built: 2008

EVO LOFTS FOR SALE     |     EVO LOFTS FOR LEASE     |     UNLISTED LOFTS

Evo Sales and Leasing Information:
(213) 880-9910

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Corey Chambers, Realty Source Inc.  DRE#01889449
Licensed in California. All information provided is deemed reliable. However, the information is not guaranteed, and it should be independently verified. Properties subject to prior sale or rental.

L.A. Loft Laws – City of Los Angeles Adaptive Reuse Ordinance

Construction of Lofts Los Angeles
Construction of Lofts Los Angeles
LA Loft Laws, Lawsuits and Other Issues

The Adaptive Reuse Ordinance has become one of the most significant incentives related to historic preservation in Los Angeles, facilitating the conversion of dozens of historic and under-utilized structures into new housing units. The Ordinance was originally approved in 1999 for downtown Los Angeles and was extended into other neighborhoods of the city in 2003. It provides for an expedited approval process and ensures that older and historic buildings are not subjected to the same zoning and code requirements that apply to new construction. The result has been the creation of several thousand new housing units, demonstrating that historic preservation can serve as a powerful engine for economic revitalization.  Today, nearly all of the converted lofts have been sold, and there are now very few in the development pipeline, if any.   |   LAWSUITS AND LITIGATION

DOWNTOWN LOFT & CONDO LISTINGS:  FOR SALE  |  RENTALS

Mike P. enjoys his loft that was not on listed on the MLS. LAloftBlog.com
Mike P. enjoys his industrial loft conversion that was not listed on the MLS. LAloftBlog.com

Los Angeles is a city of innovation and reinvention, and no city policy embodies those principles more than the Adaptive Reuse Ordinance. The Adaptive Reuse Ordinance allows for the conversion of commercial buildings to new uses including apartments, condos, live/work lofts, retail and hotels. When buildings are brought back to life through adaptive reuse, they revitalize neighborhoods by preserving our historic architecture, creating new housing and mixeduse opportunities, and increasing public safety. Adaptive reuse enhances economic growth in urban and commercial cores. The Adaptive Reuse Ordinance originally focused on Downtown, and the results have been truly dramatic. That success led us to expand adaptive reuse citywide, and it’s helping revitalize neighborhoods across the city. The Adaptive Reuse Team helps projects navigate through the permitting and development process as well as qualify for tax credits and other financial incentives.

All buildings in Downtown Los Angeles have problems or issues that prospective buyers should know about before going to look at lofts for sale.

Please do not hesitate to contact them with any questions you may have or to receive any help that you need.   |   LOFT PROBLEMS

GET A FREE HOTLIST OF SECRET LOFTS AND CONDOS IN DOWNTOWN L.A.

The City provides a handbook that assembles in one location the regulations the City of Los Angeles has adopted to encourage “adaptive reuse”—the conversion of existing buildings to new residential uses, including apartments, condos, live/work units, and hotels. The City’s Adaptive Reuse Program works by streamlining the process developers must follow to get their projects approved, resulting in substantial time saving. The Program’s first component, a set of land use ordinances, relaxes parking, density, and other typical zoning requirements. Through fire and life safety measures, the Program’s second component provides flexibility in the approval and permitting process. Since the initial Adaptive Reuse Ordinance and fire and life safety measures went into effect in 1999, over 6,500 units have been completed, or are currently under construction. An additional 4,000 units are in the development pipeline. Based on many successful downtown projects, in 2003 the City expanded the program to cover parts of Hollywood, Mid-Wilshire, Koreatown, Chinatown, Lincoln Heights and Central Avenue. A Zoning Administrator process was also established to enable case-by-case review of adaptive reuse projects citywide. In response to various questions raised by the development community, several clarifying interpretations were also issued, and the fire and life safety measures were updated. Get more info on Adaptive Re-Use Ordinance here.  Some historic loft buildings offer significant property tax discounts under the Mills Act.

DOWNTOWN LOFT & CONDO LISTINGS:  FOR SALE  |  RENTALS

Corey Chambers
(213) 478-0499
coreychambers@yahoo.com
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www.LASecretLofts.com

L.A. Loft Blog, 200 N. San Fernando Rd., #119, Los Angeles, CA 90031

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.