Quote:
Originally Posted by LAofAnaheim
the stat about average downtown income being $15K is incorrect; that includes the Skid Row population. If the average income is $15K, why are lofts/condos at 90% occupancy and either $2K/month or $500/square foot to buy or rent. That statistic is absolutely wrong.
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laofanaheim, I don't think the stats from LAtimes.com are incorrect, as much as they're another way of weighing the size of one group against the other. it's just the methodology of one estimate compared with the other.
The lower figures must mean the number of successful ppl who call dtla home still are overwhelmed by the number of ppl who are quite low income. If the opposite were true....if all the ppl in dt who are wealthier were much larger....then they would swamp the number of ppl in skid row or living in SRO bldgs, & the average income would go up.
Even though alot of new housing has been added to the hood over the past 10 yrs, it's easy to forget it still involves only a relatively small number of bldgs & sections throughout dt. for instance, even when the new proj that westsidelife posts about....& according to brigham it's supposed to break ground in the 1st qtr of 2013, meaning it has to break ground within the next few wks for that to be accurate....is added to the mix, you can see there's still plenty of other areas that need to be filled in. Or even if all the new projs are added together....including the 2 bldgs that GH Palmer is supposed to build on broadway....while that will add hundreds of new apts to the hood, they still will hold no more than a few thousand new residents.
I still remember a person in the retail industry saying yrs ago that for dtla to support really nice, big dept stores, it would need a population base of over 100,000 ppl, or something like that. LA/ocman lists the current population at around 35,000, & while that's many more ppl living in dt compared with several yrs ago, it's still below the thousands & thousands, & thousands, of ppl that still have to be added to the hood to make it really boom.
The possibility of another new apt proj breaking ground in the next few wks is such exciting news, that I brought out my little workshop tools & created the following image. Since just about everyone knows the locations of all the current or future projs I won't bother to identify what each red square represents.....
google.com
Quote:
Originally Posted by LA/OCman
BTW, in the 80s, when there were very few market rate units Downtown, the area supported 3 Department Stores...Bullock's, May Company, the Broadway along with Ann Taylor, Jos. A Banks, Brooks Bros. That was the 80s! We had no grocery store, no "lofts", no Staples Center, no art walk, no subway or rail transit. Today, the recent expansion of USC and the number of USC faculty living Downtown is also very impressive.
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I'll mention again that most serious shoppers....the ones who most stores drool over....are women with $$, preferably somewhat younger instead of older, but women nonetheless. Such shoppers are going to be much more sensitive about the convenience, safety, comfortability & attractiveness of where they're shopping. That's why what I fuss over....whether a broken record or insufferable....had better be taken seriously, cuz the way the typical female views things may be quite different from the way you fellas judge things.
Another point: How many apts, condos or lofts in dtla are occupied only by men, only by women, or a combo of the two? So the potential number of ideal shoppers among the current 35,000 figure has to be dropped even further.
simply put, dtla still needs alot more new housing ASAP! But it's getting there, & things are starting to get quite interesting, maybe even exciting in a way that's never been true before.
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