Tag: Arts district downtown

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Commercial Office Projects Spawning New Growth in the Arts District

Continued commercial and residential development are a certainty in the Arts District.

Developers and investors have poured money into the Arts District for several years, buying up former industrial properties to transform into offices. There seems to be a move to build on the early successes in the Arts district as even more projects and leases are taking shape into the future.

Builders have continued to pursue projects throughout the pandemic. A handful of new efforts have also surfaced in the past year or so. In addition, the city continues to invest in parks and public services to meet the future demand of both residents and office workers.

In late April, Continuum Partners announced plans to build a 10-building mixed-use complex where Los Angeles Cold Storage now sits at Central Avenue and Fourth Street.

Existing commercial projects are acting as anchors for even more growth in commercial office space. One project owner wants to build a 470k-square-foot office and retail building next to the existing Ford Factory building.

Even with the downturn due to the pandemic leased space is not going unused. A lease given up by a shared office space start-up was quickly snatched up by a milk of the earth company known for oat and almond milk. This is a sign of both confidence and diversity in what types of companies are drawn to the Arts District now and in the future.

#ArtsDistrict #Entarispowerful

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The Arts District is receiving city support to develop and upgrade public services

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.

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Find Your Dream Loft or Condo in a Tight Market

Biscuit Company Loft In Arts District. Ample amenities like gym, pool, parking

Condo and lofts sales among the highest in 20 years.

Second-quarter sales of Los Angeles Lofts and Condos were up over 130% from a year ago as reported in local trade journals that track sales by the number of properties that close. While it is not hard to imaging beating last year’s sales due to the economic conditions. See our report on this trend from earlier this year here. We did see buyers fleeing the cities to set up homes in smaller cities looking for breathing room for fear of living in close proximity during an airborne pandemic. That move did not last long, there are only so many available homes for sale in smaller states. In a state like Utah prices quickly shot to the moon. The tide appears to be turning back the other way. The appeal of loft and condo living is indeed back in the driver’s seat for home buyers here in Downtown LA and Hollywood. Prices for newly built properties are at record highs.

While demand for Industrial Lofts and Luxury Condos is high the inventory remains tight. Los Angeles is a seller’s market, which means that more people are looking to buy than there are homes available.  This is expected to continue as the supply of properties is in short supply.

This can be good news for a determined buyer who knows what they want and is ready to take the extra steps suggested by their agent. Writing a letter to the seller saved one couple second round of bidding upon a property. “The letter and a picture of our dog moved the seller’s heart to take our offer.” That saved them as much as $10,000 dollars and associated gray hairs.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.