In response to significant housing loss from recent wildfires, landlords in downtown Los Angeles are launching a campaign to attract displaced individuals to urban apartments. The Historic Core Business Improvement District believes that while the area is unfamiliar to many, its affordable housing options present a viable alternative to saturated neighborhoods like the Westside. The fires impacted over 9,500 rental units in older, smaller buildings, which are difficult to rebuild due to high costs and modern building regulations, leading to a shift towards luxury housing as the average rental rate drastically contrasts with those affected by the fires.
The Westside and the Pasadena area might be saturated with people wanting to move in proximity to where they lived before. That might not be possible.
The cost to rebuild such modest housing poses a nearly insurmountable challenge. New apartment construction in Los Angeles has skewed toward luxury, with units completed last year averaging $3,300 in rent.
Collection
[
|
...
]