Biscuit Co. and Toy Co. Lofts Benefit From The Great L.A. River Parks Project

Now that the L.A. City Council has approved the L.A. River Park Plan, which transforms a 4 mile stretch of the LA river into green park land, what will happen to loft prices of those warehouse conversion in the Arts District which borders the River? Currently, the River looks like a giant industrial concrete channel bordered by railroad tracks on each side. But in ten years, those railroads will be routed underground and replaced by grass and trees, and the River bed cleaned up to welcome weekend picnics and festivals. As real estate owners and investors, we must all be mindful of the importance of a "long term" horizon. Buying a loft at the Biscuit Company or Toy Lofts today may not seem like much, but 10 years from now when the neighborhood suddenly is adacent to a lush park with a river running through it, well, let's just say the upside to that investment will be quite impressive.

When asked where I think the biggest "upside" in Downtown properties are, I always answer that if you are looking at a horizon of 10+ years, you can't go wrong with a 1800s.f. loft with 10 ft. ceilings in the Arts District, because you are getting both location and living space that is simply not available elsewhere in Downtown, unless you're paying "penthouse" prices.

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