The Loft / Condo Divide

By Eric Richardson
Published: Tuesday, November 22, 2005, at 12:17AM

DOWNTOWN LOS ANGELES — There's an article in today's LA Times on the change in Downtown housing as condo has largely surpassed new rental properties. The divided ambition between renters and purchasers reads to me as the focal point of the piece, but I really don't know that I buy into it.

The shift is becoming increasingly evident, said five-year loft resident Marie Condron, a founder of the popular Internet listserv newdowntown, where residents talk about local issues and offer tips on shopping and services.

She too sees a divide between the renters and the buyers. "The people who are buying are investing in a hot market," she said. "The renters are more here for the community and the neighborhood."

I think it's still too early to judge the intentions of many condo owners. Sure, there are people buying to flip the property later (perhaps a risky proposition in the near term), but I know plenty of people who've bought condos that absolutely believe in Downtown and love the neighborhood.

On another note, nothing against Pedro and Natalia Galindo (who I don't know, and I'm sure are great people), but I had to laugh at the two photos of them attached to the story. Those are some Grade A hipster poses.

Comments

jim writes:

1100 wilshire is attracting a refined audience who enjoys an urban lifestyle? good grief.

# on Nov.22.2005 AT 12:32 AM

Don Garza writes:

You know , MArie COndron doesn't live in a loft anymore. Where does tthe times get off to claiming she has been a loft dweller for five years?

# on Nov.22.2005 AT 06:33 AM

Eric Richardson writes:

I think these days anything that's rental and urban is a "loft". Downtown hasn't seen real loft product in a while. -e;

# on Nov.22.2005 AT 09:04 AM

Don Garza writes:

You know Eric I have to agree with you. Just because someone buys their condo as averse to someone who rents because they might be too poor to buy thier loft, doesn't necessarily mean they are in any whay inherently non neighborhood and non investing in the neighborhood. Generalizations are not the way to go when community building.

# on Nov.22.2005 AT 11:41 AM

David Kennedy writes:

I think this is a news story in search of a narrative. And it is a bogus narrative. It is all part of the urban pioneer myth and the hype of loft living. I balk at the idea some people are superior (i.e. "the coolest") simply because of their zip code. I find it incredulous any one can take seriously the idea that living in a loft is some sort of transformative experience and provides an entry into some special community.

This notion that the original renters are "better" for the community is bogus, too. Again, it plays off the urban pioneer myth ("They came here for something which money can't buy!"). But, it also posits a paridise lost, which further embellishes the myth. ("Once we built the community, those bad outsiders, who care about money, came in and ruined it for us.")

Please. That downtown is growing economically is a good thing. I can't imagine anyone truly pining for the bad old days when no one wanted to live here. (Although, I have fond memories of a huge unit which I rented for $825.) Yes, people buying may have different priorities other than partying with their neighbors. However, I think the idea that the original renters are care more about the community is bogus.

Yes, I think we should all be thankful that these pioneers did prove that there was a demand for urban living in Los Angeles. However, once that point is proven, of course the market will supply product to meet that demand. Generalizing about residents with this myth doesn't help build the community.

# on Nov.23.2005 AT 09:44 AM

The Loft / Condo Divide

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