Category: Building

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Hollywood Flocks to Downtown Los Angeles as Upscale Highrises Spring To Life #historiccore #downtownla

Surging real estate development is transforming the city’s center.

LATen50.com

Variety reports that Downtown Los Angeles is getting a makeover to the tune of $16.5 billion in new development. Improvements include the addition of a large number of mixed-used projects that combine street retail with highrise living. This includes a new Whole Foods supermarket that recently opened, many small, independent restaurants, three new breweries, several art galleries, boutiques and a revitalized Grand Central Market in the Historic Core.

Apartment construction is roaring ahead at a fast and furious pace as more than 10,000 units are under development to fill the huge demand. New construction includes Greenland USA’s three mega-towers at Metropolis on the border of South Park and the Financial District, a $1 billion investment. On Downtown’s northern edge, the Arts District offers incredibly hip lifestyle options from the world’s longest apartment building, the modernist One Santa Fe to the Garey Building’s more traditional 320 brick-clad apartments nearing completion.

Most of the development is residential, and most of that is rental and hotel.

The L.A. Loft Blog recently reported MLS data showing Downtown price increases of 8% in 2015. Variety reports an even higher Downtown condo prices increase of 15% in 2015.  Property values have risen overall by more than 150% over the last 17 years, per statistics from the downtown Business Improvement District. For coming years, the new addition of buildings under construction will bring increased selection for prospective buyers as projects like Metropolis and Trumark Urban’s TEN50 spring up.

Greenland USA’s Metropolis plans to open later this year: the 6.3-acre, 1,500-unit project north of L.A. Live will start with a 38-story residential tower and a 350-room hotel called Indigo. Metropolis will then add a 40-story tower and a 56-story tower.

Trumark Urban is quickly building TEN50, a 150-unit modern condominium at 10th and Grand. The sales office is now taking appointments. Residences in the 25-story tower start at 600 square feet, and range up to 4,000 square feet  Amenities will include a yoga garden, private screening room — and even a shopping delivery drone landing pad!

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Newberry Lofts Building Downtown Los Angeles Arts District

NEWBERRY LOFTS FOR LEASE  |  NEW LEASE LISTINGS  |  UNLISTED LOFTS

900 East 1st Street, Los Angeles, CA 90012

Newberry Lofts in the Arts District of Downtown L.A. was originally the main warehouse for JR Newberry Co, a Los Angeles grocery store chain that housed a candy store, blacksmith shop and restaurant. The building is eligible under Criterion C of the U.S. National Park Service as a representative example of industrial warehouses at the turn of the century. The renovated lofts for lease feature exposed brick walls, floor-to-ceiling windows, city views, granite kitchens, baths and some customized features. Because the building has been home to many students of the nearby Southern California Institute of Architecture, the units vary greatly on how much or how little they have been modified and upgraded.

NEWBERRY LOFTS FOR LEASE  |  NEW LEASE LISTINGS  |  UNLISTED LOFTS

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]   

SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

IN THE HEART OF THE ARTS DISTRICT

The classically converted warehouse offers high ceilings, large wooden beams and accent brick walls. There is a very wide open living areas, so tenants may bring their own creativity and possibly make customizations. Some of the loft rental homes have new all electric kitchens, updated bathrooms, durable concrete floors and industrial heating and air conditioning. Tenants in the upper floors can relax and enjoy the amazing city views in in the middle of the highly desirable Arts District.

ABOUT JR NEWBERRY

J. R. Newberry was the pioneering founder of one of the first Los Angeles grocery chains. He is also known as one of the organizers of the Merchants and Manufacturers Association, as well as one of the first directors of the Chamber of Commerce. He was part of a group of local business leaders instrumental in bringing in the Santa Fe Railroad to the area. By this time, the Flats, as the lowlands along the Los Angeles River were called, developed into the warehouse district. The J. R. Newberry Company was one of four early buildings in the district, predating construction of the 1st Street Viaduct. Character-defining features of the warehouse include its location and close proximity to the Atchison Topeka & Santa Fe Railroad rail yards, the simple plan, relatively plain wall surface, random placement of the fenestration and the use of brick as a construction material.

Parking is available, and may be included with some units. Dogs and Cats are now accepted, subject to management rules.

Newberry Lofts apartments is two blocks from Sci-Arc,  close to the 101 Freeway,  walkable to Little Tokyo Village, near grocery, restaurants and shopping.

NEWBERRY LOFTS FOR LEASE  |  NEW LEASE LISTINGS  |  UNLISTED LOFTS

To see Newberry Lofts and other Arts District lofts for lease, call (213) 880-9910.  Request new listings.

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Newberry Lofts Kitchen

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Not affiliated with Newberry Lofts owner or management.  Corey Chambers, Broker, dRE#01889449

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker  CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.