We’ve managed a bunch of buildings in gentrifying areas of LA for a long time, and I can tell you with a high degree of certainty that property crime (theft, tagging, etc.) has gone up markedly over the past few years. Most recently, we have a building where cars have been broken into in the
Snapped this pic this morning (at some risk to life and limb): 2PreserveLA is the group pushing the Neighborhood Integrity Initiative, which is an absolutely disastrous proposal that would effectively block most- or all large multi-use projects in LA. Why does this matter? Well, the only real way to slow the growth of rent in LA is
There’s a proposal up for discussion this week at the city council’s Housing Committee that warrants some discussion. In a nutshell, the city is considering requiring every landlord of a rent stabilized unit to report the rent she is charging to the city every year. Why? Because apparently there are hundreds of people being overcharged.
On Friday, had a funny discussion with our largest investor regarding the value of parking spaces. His joke was that, when I’ve got loads of parking, I tell him how valuable parking is, and when I’m under-parked, I start talking about Uber. I’m not admitting that’s true, but I did tell him that I think
Here’s a wonderful example of Los Angeles city government at work. The city wants to close a disused pedestrian tunnel under Sunset in Silver Lake which has become a cesspool of graffiti, litter, etc. LA anticipates the cost of doing so will be $160,000. I guarantee a private contractor could close the thing up for $80k