Five Years into Revival
L.A.'s Downtown News looks at how the loft boom and downtown revival is going, five years after developer Tom Gilmore shared his original goals with the paper.
As of now, the paper says his three buildings - the San Fernando, Continental and Hellman - are 100% full with tenants paying an average of $1,400 a month. And spurred by that momentum, the Mayor's office says 4,000 units are in various stages of construction Downtown.
Of course, this is a variation on the same story the L.A. Downtown News writes every single week. Meanwhile, as L.A. Observed points out today, writer Marjorie Gellhorn Sa'adah warns in a Sunday L.A. Times op-ed piece: Before you move downtown, realize that you're moving into a constantly functioning movie set. Film shoots will keep you up at night, and there's not much you can do about it.
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