Loft living in downtown Los Angeles transitions from an eclectic urban lifestyle to a real estate investment, as loft amenities and prices soar.
"The recent wave of downtown residents began about six years ago and consisted mostly of renters taking a chance on the first crop of converted lofts in the Old Bank district. They were lured by reasonable rents and the prospect of living in an urban environment.
But much of the residential development since has been condos, changing downtown's residential population. With prices rising, many new residents are making a bet that downtown will continue to gentrify, homelessness and crime will decline and more upscale retail shops will open. In other words, they see living downtown as an investment.
...Indeed, the days of the spartan industrial loft are over. Developers say downtown buyers are demanding high-end amenities, including rooftop pools, 24-hour doormen-security guards and elaborate gyms.
Urban planners say Los Angeles' demographic shift is similar to changes seen in urban neighborhoods in San Diego, Denver, Chicago and Washington, D.C."
FULL STORY: Living Gets Loftier in Downtown L.A.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
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Amtrak Cutting Jobs, Funding to High-Speed Rail
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Ohio Forces Data Centers to Prepay for Power
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MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
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