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Old 08-17-2007, 10:32 AM
 
67 posts, read 206,585 times
Reputation: 33

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Last night I attended a neighborhood meeting hosted by the Downtown LA Neighborhood Association and Historic Downtown Business Improvement District. All I can say is I am very impressed with the fervent efforts by developers and the City to revitalize Historic Downtown and preserve mixed income housing in that area - they have specific vision for this area, and I believe it's going to work. They've taken some beautiful historic landmarks and are converting them to more "affordable" condos ($400k to $800k) while apartment developers are purposefully ensuring that rents can support a large mix of low to middle income families. It appears that their priority is to create a character of mostly middle income residents with some low/high income thrown in. Specifically, all the presenters made a point of supporting neighborhood "mom and pop" retailers by keeping retail rental at $2-$2.75 per sq.ft. and more surprisingly to me, were vocal about not being interested in inviting national retailers (like the sort in Old Town Pasadena) to Historic Downtown. They feel that National Retailers belong in the Financial District/South Park area, while Historic DLA should have its own unique character of small metro authenticity circa 1935 Los Angeles.

I was also quite encouraged to hear that the city is working on creating a "free" shuttle/busing service that connects all parts of metro downtown along the main arteries of the city. Their goal is to allow people to park their cars in designated car "parks" and travel through out the city on foot/bus. Another interesting solution was to invite/support taxi operators to work the downtown area more uniformly. Their ultimate goal is to eliminate the need to drive if you are simply going from one point of downtown to another by moving centralizing parking spots farther and farther away from the center of the city.

The total number of attendees were about 50, with most of the attendees having recently moved into the Historic Downtown area (within the last 3 years). The enthusiasm and energy of that group to transform downtown into a vibrant destination was pretty inspiring. I was very impressed by the amount of energy of the "new" residents of Historic Downtown. The demographics of this group is mostly 30-45 year olds small business owners looking to revitalize the area around Main/Broadway/Spring between 3rd and 6th.

It looks like this city is going to look dramatically different in 5 years.
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Old 08-17-2007, 02:53 PM
 
Location: Cincinnati
1,749 posts, read 8,324,044 times
Reputation: 784
For $2 a square foot, I might consider re-opening my store ~
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Old 08-17-2007, 06:33 PM
 
67 posts, read 206,585 times
Reputation: 33
The street level retail spaces at Santa Fe Lofts and PE Lofts on Main St. are going for a little over $2.00 when I spoke to the management reps yesterday
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Old 08-18-2007, 05:04 AM
 
Location: Cincinnati
1,749 posts, read 8,324,044 times
Reputation: 784
Quote:
Originally Posted by TrojanDLA View Post
The street level retail spaces at Santa Fe Lofts and PE Lofts on Main St. are going for a little over $2.00 when I spoke to the management reps yesterday
This is W A Y less than I paid in Old Pasadena 4 years ago. Hmmm...
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