Downtown LA (Los Angeles, Alameda: real estate market, apartments, lease)

[Dan25]

I'm looking at buying a loft downtown. Would it be very fun to live down there yet or is that still to come? Specifically im looking at Little Tokyo Lofts.

[SandyCo]

Dan, there are many threads in this forum that have info about downtown lofts. Gentrification has more than a toe hold in downtown now, but there are a lot of projects that have been put on hold due to the soft real estate market. While there are a few occupied residential buildings downtown, there isn't much to do at night.

Edit: This complex is right in the middle of Skid Row. According to Wikipedia, Skid Row's boundaries are:

3rd Street on the North
7th Street on the South
Main on the West
Alameda on the East

Not a good area at all.

Please see this as well:

Little Tokyo residents resent mental health facilty - Los Angeles Times

[katenik]

Originally Posted by SandyCo

Dan, there are many threads in this forum that have info about downtown lofts. Gentrification has more than a toe hold in downtown now, but there are a lot of projects that have been put on hold due to the soft real estate market. While there are a few occupied residential buildings downtown, there isn't much to do at night.

Edit: This complex is right in the middle of Skid Row. According to Wikipedia, Skid Row's boundaries are:

3rd Street on the North
7th Street on the South
Main on the West
Alameda on the East

Not a good area at all.

Please see this as well:

Little Tokyo residents resent mental health facilty - Los Angeles Times

it sounds like those residents were sold the equivalent of the non-smoking section of a restaurant with only one room. nowhere that close to skid row is ever going to be "up-and-coming" until skid row is cleaned up.

[the one]

ya THAT part of DT is the PITTS!!!!! unless you like guerilla like environs. then be my guest and work it out. but wear running shoes... forever. i suggest you check other parts of DT if thats a locale you are interested in. some buildings are occupied, others supposedly 75%, some are built some are stalled, some are just imagined. the variety is def there.

as for night life, there are plenty options to hang out in downtown on everynight of the week. i frequent DT quite regularly and continue to do so without any problems. the other night me and some friends walked a a couple of ladies home to their apt loft place. just another night on the town.

dt is a good place... but not all parts, yet.

[Lovehound]

I don't understand why out of town people think that downtown LA is some kind of desirable place to be. Most of us LA residents never go downtown and do everything we can to avoid it, and are usually successful. People want to live in affluent areas, not areas where bums are shooting up and pissing right on the sidewalk. You've got LA confused with NYC. We LA residents want to live in suburbia and downtown is urbia. We avoid the place.

[motoman]

I have worked downtown for the last three years. I've seen a little change, primarily with all of the overpriced condos/apartments going up, which they can't sell or rent now. But other than the new living spaces, there isn't much downtown.

There's the Staples Center, Disney Hall, and a few other major attractions. But other than that you'll find one, yes one, grocery store, a few fast food places, some mid- to high-priced restaurants, and a few bars and clubs. In short, there isn't much to do at any time of day. You'll be driving all over LA looking for things to do.

And while they are offering pretty large incentives on some of the condos -- I've seen discounts of as much as $100,000 -- you'll still need to make around $100,000 a year to live downtown. Nothing is cheap and nothing is convenient. A guy I work with is paying $1,600 a month for a studio. That's one, small room. Why, I have no idea.

At some point downtown may be a better place to live, but in my opinion, at the moment, I would look elsewhere unless you can find some fantastic deal, like half-price rent or a condo for $50,000.

[greggd]

Downtown LA has changed quite a bit. There are now several places to go after work hours. Just went to Pete's Cafe on Main Street and it was great, bar, outdoor patio, etc. Several options right in the area within walking distance to several lofts.

The only thing holding downtown LA back is politics. It's become status quo to have compassion for the homeless who are a ball and chain to the area's prosperity and desirability.

If the homeless factor was dealt with properly, that area would flourish with all kinds of housing and retail ventures at a much more rapid rate.

[greggd]

Originally Posted by Dan25

I'm looking at buying a loft downtown. Would it be very fun to live down there yet or is that still to come? Specifically im looking at Little Tokyo Lofts.

It would be fun to live downtown if you like a downtown lifestyle. If you already live in Los Angeles, check it out on weeknights and weekends. Have dinner, drinks, go to an art show or events, and walk around at various times of the day & night.

If you want to test the waters, rent a loft or apartment for a year before you buy. Figure out where the best buildings are for you and make an informed purchase down the road.

There are a lot, and I mean a lot, of young people/20's, early 30's living downtown.

[LArenter]

Do you due diligence re: Tokyo Lofts.

I can see the appeal of living in a Downtown loft, especially with the price cuts. But...

You are going to want to avoid the Tokyo Lofts. It is in a real bad area, I can not stress it anymore. You are right at the start of Skid Row. There are armed guards in the building accross the street. I hear the parking is also not under the building either.

I recently read an article that they couldn't lease the space downstairs and so they had to lease it to mental health services group:

Curbed LA: Starbucks? Quiznos? Nope. Little Tokyo Lofts Gets Mental Health Services Facility As Tenant

[the one]

the "most LA residents dont go Downtown" mentality is ridiculous. i and many people i know have been going to DT all our lives.

Broadway for shopping
Garment District for fabric
Staples for games(not all our lives obviously)
Fig for drinks
Orpheum for shows
cliftons for tradition

etc etc

the problem is that people are still afraid of downtown. im an urban dweller who has ran the streets of LA and i am in DT just about every week. there are plenty of places to go and they offer quite a variety. gay, straight, dive, snooty, old, young, business, cazzzz, its there alright.

there is stuff to do and either way you will be driving around the whole city whether you are partyin in SaMo, DT, HllyWd, etc. this is a driving town unfortunately.

born and raised angelino speakin here. the majority of my folks are to and we all party DT. HAVE been for years. and yes, its the older 20's to early 40's crowd mostly in DT. nothing wrong there.