Los Angeles Gentrification Bounded By LaBrea Av to the West, DTLA to the East, Pico Bl to the North, & Adams Bl on South (Lafayette: for sale, renters)
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The Architecture Definately is nice , but I'm wondering what is "artsy" besides that ? Or is it just that people believe artistic minded people will be attracted to the area because of the architecture?
Also areas that have gentrified the average house isn't some masterpiece. Look at silverlake echo park , they are usually little shacks but cost 700k and up .
There are old restored theaters and clubs in the area. 24th St. and union theatre come to mind. There's also the Shrine Auditorium in uni park/historic West Adams. You can see jazz at cafe club fais do do or Living Room.
Many people are putting much needed TLC into these homes now. If you have seen how run down these home were, it's great to see them flourish.
These areas are more similar to Angelino Heights than Echo Park.
Well I guess tons of independent theaters aren't artsy enough for you . There are also other artistic types of venues there too . Not sure how you label art ..
Also there are places to rent outside of luxury condos .
Another thing about those very nice homes is that the crime is a lot higher too .. Especially violent crime . Also is there a big arts scene in Jefferson park ?
How is the claim erroneous if the neighborhoods with a large black population in la haven't gentrified historically ?
I don't think it's cool either , but that's how it's been .
idk, whenever i've been there it seems soulless. it's just got that cookie cutter type of gentrification. new american gastropub here, trendy chain there. you're right about the theaters though. i'm not big on theater so i paid them no mind.
gentrified areas in la are historically hispanic because there's a lot more hispanic areas than black areas. also, you could say gentrification kicked off in hollywood and venice in the 80s because they were the centers of punk/skate culture. then eastward from hollywood to silver lake, echo park, highland park, etc.
i dont really know about arts in jefferson park, though there are a surprising amount of venues and galleries in west adams. i don't think jefferson park will gentrify into a hipster nightlife neighborhood like echo park, especially because adams blvd is mostly a residential street and jefferson is mostly lined with churches, schools, and light industrial buildings, none of which are easy to convert into boutique stores. it's more likely you'll get middle & upper middle class people who appreciate craftsmans and that will push the real estate values up significantly.
I'm reminded of an old saying in Real Estate, more buildings get torn down then fall down.
Hedge funds and Real Estate Investment Trusts have the capital and the political connections to
buy up swaths of land to convert into projects of the highest and best use.
The past is of no relevance to their future plans and Los Angeles is getting low on available building sites. The future is sure to see housing closer to where the jobs are as micro living and business centers will coexist because commuter time is getting longer and longer.
It doesn't seem there is much vacant land really in the metro area. Of course with enough money you can buy up properties tear them down and build larger projects . There are historical zones where it is difficult to tear the houses down though .
I wouldn't be surprised if the super rich find a " loophole " though .
It is nice that In dtla buildings have been restored rather than torn down and new built in many cases .
It does make sense having higher density and office space development close to transit .
I think there will always be demand for single family housing even if it's a drive as not everyone wants to live in a condo or apartment .
What is valuable in la is the land though and when an area starts getting some larger denser buildings built then land values go up a lot .
When I lived in west la , there was talk from the neighborhood council that if one property gets rezoned then that makes it easier for the area to get rezoned .
Just because there are single family homes in an area doesn't mean they will be like that forever . Also although there are old homes doesn't mean they are in a historic zone.
I see the possibility of many of single family homes in west la being converted especially along the future rail lines .
There will be huge demand and for the right price people will sell.
I remember homes near the proposed future expo line where going for a pretty big discount at one point because they probably thought nobody wants to be near that subway stop ... But long term those properties will be the most desirable.
The issue is people viewing the future subway as a negative versus the positive .
I am of the opinion that the La Brea/Downtown/Pico(Olympic)/Adams cubic area is poised for a gentrification explosion in the next few years.
A small bit of history and what should have been....
Boyle Heights, Lincoln Heights, etc on one side, and McArthur Park/Echo Lake/Pico union on the other side....were once really gorgeous neighborhoods. This can be seen by the still standing Victorian style homes in those areas.
Not too much was messed up immediately post WWII and in fact DTLA absolutely flourished. Parts of the above listed areas started declining, but not in a particularly fast or destructive manner.
However, once the boomers started becoming adults, the destruction of inner LA neighborhoods came on rapidly. Suburbs expanded and gorgeous historic neighborhoods just became hoods. And the riots in the 60's sped up the decline.
Boomers are the ones that largely cant understand the inner city revival and are the ones that downplay the revitalization of neighborhoods like Silver Lake and Echo Park.
What they think is irrelevant.
What is relevant is that people no longer want to be as burdened with cars. In the past year living in DTLA I think I put MAYBE 2,000 miles on my car. I simply had very little reason to drive. And this is what will spur continued gentrification. I think DTLA already is a destination location and areas along the Gold and Red lines will have a high value. Already DTLA expansion has pushed several blocks west of the 110 and its going to continue. There is an issue with tons of low income Salvadorian families...you can't just force them out. But at some point, there will be complete gentrification around Mc Arthur Park and this will expand further into the historic parts of Pico Union. Its just a matter of time before a developer starts buying up those properties and I imagine in a 10-20 year time frame that McArthur Park will be a much nicer cleaner city center.
Boomers dropped that ball big time! I know that those were the trends of the time.... But man, boomers really screwed over the millineals. People talk crap about hipsters, but hipsters are the ones who care about bringing back old neighborhoods and cities back to life.
Edit: I could totally see MacArthur park becoming a hipster haven. Although it won't happen until everybody is priced out of DTLA.
Boomers dropped that ball big time! I know that those were the trends of the time.... But man, boomers really screwed over the millineals. People talk crap about hipsters, but hipsters are the ones who care about bringing back old neighborhoods and cities back to life.
Edit: I could totally see MacArthur park becoming a hipster haven. Although it won't happen until everybody is priced out of DTLA.
You could also argue that hipsters are raising havoc by displacing so many poor people from neighborhoods that they have been living in for decades. Just where are all of those salvadorean immigrants going to go when the hipsters take over their hoods?
Boomers dropped that ball big time! I know that those were the trends of the time.... But man, boomers really screwed over the millineals. People talk crap about hipsters, but hipsters are the ones who care about bringing back old neighborhoods and cities back to life.
Edit: I could totally see MacArthur park becoming a hipster haven. Although it won't happen until everybody is priced out of DTLA.
Well, things that seemed great at the time seem like bad decisions now. Blocking the subway and lawyering up to prevent it was a bad move. There are still some people against it but things have changed a lot.
Walkability, inner city , urbanism , being "LOCAL" - doing business with local small businesses is now very popular.
That wasn't the case back then. Not many people predicted how bad traffic would get ,etc.
And there definately is an increased interest in historical buildings versus brand new ,across the country you are seeing downtown/historic districts being renovated.
Lot's and lot's of money will be made and has been made. I think a lot more in other cities in L.A just because the prices are relatively high now. Not saying prices in parts of L.A won't go up a lot. but it's a lot different talking about a 300k house appreciating to like 700k versus a 30k property going to 120k.
I just read an article in the new issue of Forbes about a developer in Brooklyn. The property he bought in the DUMBO area of Brooklyn in 1979 is now worth 50x the price back then! He bought up so much of the land that he was able to control the whole neighborhood
Interesting look into gentrification for sure, and the guy has a much more interesting story versus Trump in my opinion. Sounds like he grew up poor with a mom that had to work 2 jobs to make ends meet. Of course it helps knowing super rich people to invest with you or loan you money too!
You could also argue that hipsters are raising havoc by displacing so many poor people from neighborhoods that they have been living in for decades. Just where are all of those salvadorean immigrants going to go when the hipsters take over their hoods?
Although I hate to see people displaced, which has more to do with renters than homeowners & rent control laws) there is no doubt that neighborhoods have changed in LA for the last 100 years. Let's not forget Salvadorian's didn't really come to LA in large numbers until the Salvadorian civil war in the 80's. I guess what I'm really trying to say is...Baby Boomers let DTLA go. They didn't want anything to do with DTLA.....or didn't care about working to make DTLA a better place for the most part. They would rather escape to the burbs and drive an SUV. Sorry to sound harsh...but 20 years ago boomers for the most part didn't really care about making the city a better place.
Although I hate to see people displaced, which has more to do with renters than homeowners & rent control laws) there is no doubt that neighborhoods have changed in LA for the last 100 years. Let's not forget Salvadorian's didn't really come to LA in large numbers until the Salvadorian civil war in the 80's. I guess what I'm really trying to say is...Baby Boomers let DTLA go. They didn't want anything to do with DTLA.....or didn't care about working to make DTLA a better place for the most part. They would rather escape to the burbs and drive an SUV. Sorry to sound harsh...but 20 years ago boomers for the most part didn't really care about making the city a better place.
With L.A's rent control laws , I don't really get the argument that people are displaced en masse. Low income minorities being kicked out of their homes and replaced with young presumably American born hipsters. I believe on 1979 construction rents can only be increased about 3% per year...and pretty much all the buildings in these areas and a lot of L.A predate that Era .
Without rent control these neighborhoods would look a lot different.
For all the talk of people being displaced in hipster hoods like Echo Park..it's still a majority hispanic neighborhood today.
Also just in general the idea that tenants should take it granted that they can just live in someone else's property for a below market rent forever and ever is pretty nuts.
In my opinion these laws and regulations actually do more harm than good.
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