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Old 12-05-2007, 05:06 PM
 
Location: Thousand Oaks, CA
75 posts, read 524,161 times
Reputation: 82

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Does anybody know where the bigger redevelopments of downtown Los Angeles are going to be the next couple of years?

I am planning to buy/move in LA in the next couple of years and want to start shopping early. Any advice on any specific properties/areas/etc? Has anybody had any bad experience buying from a big redevelopment project?

THANKS!!!
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Old 12-05-2007, 05:58 PM
 
1,297 posts, read 5,102,002 times
Reputation: 566
Downtown La is in apartment construction mode right now, but condo development will start up again next year i suspect. There is still a strong demand for affordable loft style condos for both first time buyers and younger buyers looking for something interesting.

You may want to save these sites and check back frequently to keep up with projects.

LoftLA.com (http://www.loftla.com/loftla/Default.aspx - broken link) (comprehensive list of projects)
angelenic: downtown los angeles

Los Angeles Downtown News and Information - LA Downtown News Online
Curbed : The New York City Neighborhoods and Real Estate Blog (section for Los Angeles)

Multi Housing Industry News - Multi Housing Professional Resources - Multi Housing Executives (http://www.multi-housingnews.com/multihousing/index.jsp - broken link) (nationwide)
SkyscraperPage.com
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Old 12-05-2007, 07:17 PM
 
Location: Los Angeles-213.323.310.818/San Diego-619.858.760
705 posts, read 3,083,036 times
Reputation: 444
The biggest developments are occuring in South Park, but all of downtown is being redeveloped. There are plans for redeveloping Broadway Blvd and the Grand avenue project is going to reshape the east portion of downtown. Across the 110 freeway there are a couple of high rises going up as well. That is why downtown will be known as the "land of the cranes" once all these projects start going up.
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Old 12-06-2007, 02:48 AM
 
Location: CITY OF ANGELS AND CONSTANT DANGER
5,409 posts, read 11,541,667 times
Reputation: 2251
plenty cranes now. always something rising. its great. once LA live and grand project are down those will be two good anchors. for housing look towards south park, or you can also get north by j-town, but that might be too close to boyle heights for some...
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Old 12-06-2007, 10:07 AM
 
830 posts, read 2,618,325 times
Reputation: 381
You'll need to make a good six figure income to afford even the smallest of places, so plan accordingly.
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Old 12-06-2007, 01:33 PM
 
225 posts, read 1,020,770 times
Reputation: 147
Quote:
Originally Posted by Shikaka805 View Post
Does anybody know where the bigger redevelopments of downtown Los Angeles are going to be the next couple of years?

I am planning to buy/move in LA in the next couple of years and want to start shopping early. Any advice on any specific properties/areas/etc? Has anybody had any bad experience buying from a big redevelopment project?

THANKS!!!
I have some advice: don't buy in downtown. Or anywhere in southern California.

UCLA / Anderson and Chapman Uni are forecasting a recession, or very close to it, in the region. Unemployment has risen steeply in the past year and is expected to rise further next year. The foreclosure crisis will continue as the interest rates on 2006 loans re-set (politicians can't stop it, much as they would like to). Housing prices are sticky on the way down, as economists like to say--but they are going down. And in downtown an enormous wave of supply is about to hit the market.

You might buy in the area and not lose your shirt. There are people who fall out of aeroplanes without a parachute and survive.
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Old 12-06-2007, 10:53 PM
 
Location: City of Angels
1,287 posts, read 4,704,227 times
Reputation: 663
Quote:
Originally Posted by straight outta camden View Post
I have some advice: don't buy in downtown. Or anywhere in southern California.

UCLA / Anderson and Chapman Uni are forecasting a recession, or very close to it, in the region. Unemployment has risen steeply in the past year and is expected to rise further next year. The foreclosure crisis will continue as the interest rates on 2006 loans re-set (politicians can't stop it, much as they would like to). Housing prices are sticky on the way down, as economists like to say--but they are going down. And in downtown an enormous wave of supply is about to hit the market.

You might buy in the area and not lose your shirt. There are people who fall out of aeroplanes without a parachute and survive.
Where are you getting your information? UCLA Anderson just released a report saying the exact opposite about a recession. Here's a link to an article about it in the LA Times:

Sign Up (http://www.latimes.com/news/local/los_angeles_metro/la-fi-econ6dec06,1,1313349.story?track=rss - broken link)
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Old 12-20-2007, 01:17 AM
 
Location: LOS ANGELES
14 posts, read 53,423 times
Reputation: 12
i have built three high rise condos in downtown los angles. the market is very strong there. there are more than 4,000 residential units in project and they are going fast. yes, there is a tremendous amount of construction going on there. redevelopment or (adjustable re-use projects) are underway and again, going fast. however, there are many great deals/negotiations to be made with these projects. Moderator cut: soliciting and or advertising not allowed per site TOS

Last edited by da jammer; 12-20-2007 at 05:53 AM..
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Old 12-20-2007, 10:19 AM
 
32 posts, read 224,371 times
Reputation: 38
Downtown is like a Tijuana Manhattan, and bum central a few years ago. But now after the renovations I saw allot of whities walking around. (This was around 7th&fig). I hope they continue with the renovations with downtown.
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Old 12-20-2007, 12:58 PM
 
1,781 posts, read 4,107,335 times
Reputation: 1520
Downtown L.A has Enormous Potential...If I was a Developer,I would definately build in Downtown...Like the old saying goes"Build and they will come".

I hope the Revitalization Projects will continue in Downtown to transform it into a Vibrant Place to Live,Work,Shop,Dine and have Fun.
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