…is about changing the culture. The LA Times has an interesting article about efforts to clean up the area around Macarthur Park. Gil Cedillo, the local council-member, has targeted millions of dollars of city funds to try to clean up garbage residents leave around. The solution has little to do with more garbage pick-ups. Why? … Continue reading “Keeping the city clean…”
Category: Development
1947 Clinton St is on the market
Regular readers may remember 1947 Clinton St: It’s the gigantic fourplex at the corner of Alvarado and Clinton acquired by Adaptive Realty Fund 1 roughly a year ago. When we bought the property, it was in rough shape due to roughly 30 years of neglect by the previous owner. Pretty much everything that can wear … Continue reading “1947 Clinton St is on the market”
Silver Lake one beds – get ’em while they last
Just opened a new project for a fee for service client on Silver Lake Blvd. Take a look at these units: http://losangeles.craigslist.org/lac/apa/4151779381.html I spent two weeks right before Christmas 2012 helping our partner close on what was a terribly neglected, blighted property in a great location. It’s amazing to see what Jon has done with the … Continue reading “Silver Lake one beds – get ’em while they last”
Fund 1, Project 3 nearing completion
Regular readers will know that we completed and stabilized two deals for Adaptive Realty Fund 1 in September. I am happy to report (and I expect my investors will be even happier!) that rents on both projects came in materially above what we expected when we began the projects nearly a year ago. Our third … Continue reading “Fund 1, Project 3 nearing completion”
Remarkably cool map of 1909 Los Angeles
Hat tip to Adrian at Curbed for linking to this great illustrated map of 1909 Los Angeles. It’s amazing how pastoral everything west of Downtown was at that time. Silver Lake, for example, was pretty much farm land. I often think about those original settlers and builders who shaped Los Angeles. I bet many of them … Continue reading “Remarkably cool map of 1909 Los Angeles”
What you do when land gets scarce / valuable
One of the things we do to most of our buildings is privatize outdoor space. We do this because, as property prices and rents increase, you can’t afford to have land sitting around not generating rent. Apparently, Singapore is in kind of the same situation: they’re running out of land to develop, so they need … Continue reading “What you do when land gets scarce / valuable”
Why I love Mid City
Let’s be clear about what I mean by Mid-City: Everything north of the 10, east of La Cienega, south of Wilshire, and west of Western. Why do I love it? Because: 1. It’s central: The area I just described is roughly 10-15 minutes by car from all of the jobs on the Westside (in Beverly Hills, … Continue reading “Why I love Mid City”
My kind of bad
Late last week, Jon and I took the whole team to walk-through a real P.O.S. building in Echo Park that I’m very excited to try to buy. Here’s a representative picture: Note the trash everywhere and the broken wall where someone stole the electrical wires to sell for drug money. Obviously, I fell in love … Continue reading “My kind of bad”
Now everyone loves Silver Lake
Hat tip to Adrian over at Curbed for noticing that CNN Money ranked Silver Lake as one of the country’s best big city neighborhoods. I think the CNN Money piece misses some of the most important things about the neighborhood: The combination of relatively dense, multifamily zoning south of Sunset and relatively sparsely populated single … Continue reading “Now everyone loves Silver Lake”
A bit of unwanted public art
The Eastsider recently published an article about a gang injunction being proposed for Echo Park and a few surrounding neighborhoods. The comment thread got very heated, in part because there is at least one group that opposes the injunction as some kind of tool of oppression / gentrification. Other local residents responded that they’ve noticed … Continue reading “A bit of unwanted public art”