For those of you that are looking at possible residential areas in Downtown Los Angeles, you may want to get a feel for the different areas.
The funny part is, most metropolitan cities in the U.S. have a downtown area that is highly desireable and considered prime residential areas. Cities such as Chicago, New York, Miami, etc. all have downtown areas that are very chic, cosmopolitan residential areas.
Los Angeles on the other hand, is unlike most other cities in that it's downtown area has a large percentage of commercial warehouse type businesses. Yes, it does have extremely nice areas such as Temple Ave, 1st St., etc by such beautiful landmarks as the Cathedral, Dorothy Chandler Pavilion, Ahmanson Theatre, Mark Taper Forum, and the Disney Concert Hall.
But when you venture south it is primarily wholesale districts with old and sometimes abandoned warehouses, mixed with a significant popluation of homeless people living on the streets.
But Los Angeles is definitely going through a transformation. The city has definitely made an emphasis and has spent quite a bit of money in a noticeable effort to bring LA to the metropolitan/cosmopolitan standards of some of the other cities in the U.S.
Although you have to be somewhat of a pioneer to live in the loft style condos in the city, the trend is definitely on the upswing and those that purchase now at the current price point will definitely do well in the up market again.
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