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From Urban Decay To Urban Renaissance

Posted by: Abhijeet Chavan
Thanks to: Abhijeet Chavan
12 June 2005 - 11:00am

Los Angeles is undergoing a rapid physical and social transformation.

"Only a decade ago, the Los Angeles of smog, riots, lost jobs and broken opportunities dominated the national news. But since the early 1990s, Southern California has experienced a physical and social transformation so rapid and extensive that it has been hard to comprehend. Its emergence as a paradigmatic polycentric region - socially diverse, entrepreneurial, culturally confident - has been a surprise.

How did this monumental shift from urban decay to urban renaissance take place in such a short period of time?"

Full Story: L.A.'s Sharp Turn From Sprawl
Source: The Hartford Courant, June 12, 2005
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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