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Old 02-11-2014, 02:38 PM
 
Location: Los Angeles, CA
546 posts, read 818,075 times
Reputation: 449

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Quote:
Originally Posted by DistrictDirt View Post
I'm holding mine for the long haul. DTLA feels very much to me like SoHo in the 1980s. Anyone who owns real estate down here would be nuts to sell right now. This is still very much the ground floor.
I hear you. But I guess it all depends on when a person bought and what kind of investment horizon one has. I agree...long term one is not going to lose. I just wonder if all the anticipation about what is coming to downtown (fully revitalized Broadway, Streetcar, Wholefoods, etc) is not already priced in and that any upside over the MEDIUM term (3 yrs?) will be pretty much in line with inflation (or worse if new supply spikes more than anticipated)?
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Old 02-11-2014, 07:43 PM
 
Location: Downtown LA
1,192 posts, read 1,644,166 times
Reputation: 868
Quote:
Originally Posted by ProjectMersh View Post
I hear you. But I guess it all depends on when a person bought and what kind of investment horizon one has. I agree...long term one is not going to lose. I just wonder if all the anticipation about what is coming to downtown (fully revitalized Broadway, Streetcar, Wholefoods, etc) is not already priced in and that any upside over the MEDIUM term (3 yrs?) will be pretty much in line with inflation (or worse if new supply spikes more than anticipated)?
Prices could maybe plateau if developers could actually build enough condos to meet demand, but it seems like that's not going to happen anytime soon. Quite literally, the only new condos currently in the pipeline are the 68 units in Barker Block Phase 2, which apparently 2,800 buyers expressed interest in. That's insane.

Put it this way: we bought our place at the end of the summer last year during high home-buying season and paid around $500/sq ft, a little above average for Downtown. Now, 4 months later in what should be the off-season, average prices in DTLA have risen to $607/sq ft instead of dropping. What do you think prices will do next summer during high season?

I expect we'll see some apartment-to-condo conversions in the coming years in addition to brand new condos coming online as developers race to cash in and meet demand, but if anything it's only going to slow the rate that prices are increasing. Prices can't drop unless there's an actual surplus of new condos, i.e. more new condos than there are buyers. Maybe I'm way off base but that just doesn't seem likely anytime soon.

Last edited by DistrictDirt; 02-11-2014 at 08:12 PM..
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Old 02-13-2014, 03:37 PM
 
Location: New Orleans
2,322 posts, read 2,993,497 times
Reputation: 1606
Great Article on the up coming Clifton's Cafeteria on Broadway. This is another anchor for S.Broadway that will bring more life into this opulent street.

Clifton's Cafeteria Article

Broadway is making great progress!
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Old 02-13-2014, 05:52 PM
 
Location: Los Angeles, CA
546 posts, read 818,075 times
Reputation: 449
Interesting article. It says it will open in some form within 6 months. I hope that is true...i think the intial projection was a 2012 or 2013 opening.
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Old 02-13-2014, 11:41 PM
 
Location: LBC
4,156 posts, read 5,564,761 times
Reputation: 3594
Quote:
Originally Posted by jamills21 View Post
Great Article on the up coming Clifton's Cafeteria on Broadway. This is another anchor for S.Broadway that will bring more life into this opulent street.

Clifton's Cafeteria Article

Broadway is making great progress!
Great article. Seriously, read this.
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Old 02-14-2014, 01:29 PM
 
Location: Vegas
1,782 posts, read 2,139,330 times
Reputation: 1789
Quote:
Originally Posted by jamills21 View Post
Great Article on the up coming Clifton's Cafeteria on Broadway. This is another anchor for S.Broadway that will bring more life into this opulent street.

Clifton's Cafeteria Article

Broadway is making great progress!
Thank you so very much for the link!!!

In the 40's, Nana and I would board the #9 yellow car and go downtown to eat at Clifton's. I always had to look into the forest enclosure where, to the accompaniment of music, a deep voice spoke Kilmer's poem, Trees.

The food was great.

Afterward, we would go to one or two of the nearby newsreel theaters.
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Old 02-14-2014, 04:23 PM
 
Location: Pasadena, CA
9,828 posts, read 9,419,527 times
Reputation: 6288
Metropolis (ceremoniously) broke ground today. Phase 1 should open in 2016.

https://fbcdn-sphotos-b-a.akamaihd.n...77169195_n.jpg

Beats a parking lot anyday.
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Old 02-14-2014, 07:12 PM
 
Location: Downtown LA
1,192 posts, read 1,644,166 times
Reputation: 868
Quote:
Originally Posted by RaymondChandlerLives View Post
Metropolis (ceremoniously) broke ground today. Phase 1 should open in 2016.

https://fbcdn-sphotos-b-a.akamaihd.n...77169195_n.jpg

Beats a parking lot anyday.
I love that they put Wilshire Grand in that rendering too. Our skyline is going to look completely different in a few years. Its about time DTLA had a growth spurt
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Old 02-15-2014, 10:41 AM
 
Location: Los Angeles, CA
546 posts, read 818,075 times
Reputation: 449
Quote:
Originally Posted by DistrictDirt View Post
I'm holding mine for the long haul. DTLA feels very much to me like SoHo in the 1980s. Anyone who owns real estate down here would be nuts to sell right now. This is still very much the ground floor.

Were you actually in SoHo in the 1980's? I'd be curious hear you expand on that one.
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Old 02-16-2014, 08:07 AM
 
Location: Vegas
1,782 posts, read 2,139,330 times
Reputation: 1789
I had not been to LA in some time and a couple of years ago my wife and I went. Just for the heck of it, we drove through East LA on Wilshire and then took Olympic to the sea. Blew me away! Nothing like I remember.
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