News for Investors: Downtown Los Angeles Is Changing

Architects, designers, builders, the mayor of Los Angeles and its fans have long known this fact: Downtown Los Angeles has finally reached its popularity spin. Buyers are coming to the same conclusion: Downtown LA is the most undervalued major city on planet Earth.

Well, actually downtown LA has been doing wondrously since 1995 during which time the Community Redevelopment Agency of the city of Los Angeles undertook to level homes and clear land for future commercial skyscraper development. This period saw the clearing and upzoning of the entire neighborhood, more department stores on Broadway shuttered, and many of Downtown LA’s remaining financial corporations moving to vacant Class A office space on Bunkers Hill.

In mid-2013, Downtown was noted as “a neighborhood with an increasingly hip and well-heeled residential population.” It started attracting, too foreign millionaires – mainly from China – who rushed to invest in it, sometimes with cash down. Downtown Los Angeles is the central business district of Los Angeles, as well as a diverse residential neighborhood of some 50,000 people at this time of writing. A 2013 study found that the district is home to over 500,000 jobs. Wikipedia mentions that the district declined economically and suffered a downturn for decades until the early 2000s. Now, construction is brisk. Old buildings are being modified for new uses, and skyscrapers have been built. Downtown Los Angeles is known for its government buildings, parks, theaters and other public places.

In 2013, a study by Downtown Center Business Improvement District (DCBID) showed that of the 52,400 people resided in Downtown Los Angeles, the demographic breakdown was 52.7% Caucasian, 20.1% Asian, 17.0% Latino, and 6.2% African-American; 52.9% female, 47.1% male; and 74.8% of residents were between the ages of 23-44.The median age for residents was 3. The median household income was $98,700. The median household size was 1.8. In terms of educational attainment, 80.1% of residents had completed at least 4 years of college. The study was a self-selecting sample of 8,841 respondents across the Downtown LA area. It was not a “census” but rather a comprehensive survey of Downtown LA consumers.

More recently, Downtown LA has attracted a yuppie New York commercial sector that is all too keen to stake out ground for its projects. More details please tarot one card lomamökit

The latest news is that a British firm plans to remake a historic downtown LA building into its own.

Hoxton and Los Angeles

Hoxton is a British hotel operator that – breaking news! – just today (29th Dec) purchased a historic building in downtown Los Angeles for $30 million and plans to transform the decaying structure into a hip, stylish hotel, according to JLL, the brokerage involved in the deal.

Hoxton owns hotels in London and Amsterdam and plans to open another in New York and one in Paris next year. The fact that it chose LA – downtown for that – tells something significant about the area’s growing appeal.

Hoxton describes its brand as the “anti-hotel,” where travelers find not only a bed, but “a place where people could eat, drink, work and play anytime of day.” Its character is indicated by the description given it by the British newspaper, The Independent, that called Hoxton’s Amsterdam outpost “an almost painfully trendy hotel in the Netherlands’ hippest city.”

Downtown LA seems to be perfect for it.

JLL has described downtown Los Angeles as the area where people look to eat, live and work. It is a trendy area with a diverse residential neighborhood of some 50,000 people at this time of writing. According to a map from JLL that tracks millennials and baby boomers, Downtown Los Angeles outnumbers baby boomers by 10% in a consumer market. In most of the industry markets in Los Angeles, the breakdown is 25% millennials to 21% baby boomers. Says Sara Lo, a senior manager specializing in the hospitality business at consulting and accounting firm Ernst & Young.”Downtown is thriving and international companies are all taking note”

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