Gas prices driving you into a downtown loft?

We've been hearing this for awhile -- mostly from developers. Suburban residents will move into urban areas because they can't stand their commutes anymore. There's been much debate about whether this is true. But the Wall Street Journal reports that gas prices might be doing what traffic could not:

Abandoning grueling freeway commutes and the ennui of San Fernando Valley suburbs, Mike Boseman recently found residential refuge in [Pasadena]. His apartment building straddles a light-rail line, which the 25-year-old insurance broker rides to and from work in Los Angeles. Richard Wells is more than a generation older but was similarly attracted to the Pasadena apartment building. The British-born scientist retains what he calls a European preference for public transportation despite his nearly 30 years in California. Plus, he said, the building's location means, "I can walk to a hundred restaurants, the Pasadena symphony and movie theaters."

What do you think? Do gas prices make you want to move to a downtown L.A. loft? Let the debate begin!

-- Shelby Grad

Photo: Brian Thomas Jones / For Los Angeles Times

Comments

[los angeles loft]

Now that gas prices have come down I am curious to see if this trend has reversed. I believe that with the reduced prices on lofts downtown along with the reduction of gas prices there may be a continued market for these lofts. One thing we have seen is many of the lofts for sale have now gone rental.

[Los Angeles Office Space]

Moving to the city appears to have many advantages. Although i am not sure I would move to DTLA due to the congestion in the area I would consider areas such as Hollywood, Silver Lake, Lso Feliz and even surrounding areas like Lincoln Heights. WIth the Red and Gold lines getting around teh city is much easier.

[JEremy R]

I would most definitely move to DTLA (no thanks on Pasadena). I don't mind smaller units, a little grit, and a little noise. One commenter mentioned that downtown lacks greenspace. I would rather drive/bike/transit 20 minutes to a park once a month, than spend 20 hours per month stuck in my car on my way to work. To each their own. My problem with DTLA is prices. If prices were reasonable, I would move in a heartbeat.

[Peter]

Active agoraphobia is the only good reason to live downtown LA. The lofts are nice if you don't have go outside and you don't mind the sound of jackhammers.
I looked at a rental loft downtown and I felt like I needed a bullletproof vest to get from the car to the lobby. Maybe when gas gets to $13/gallon Ill take a second look.

[J-Rod]

I moved to North Hollywood so that I could walk to the Red Line station and take it to work downtown every day. The area is a transit-oriented, walkable community, so I can walk to the drug store, restaurants, park, and never touch my car until the weekend. I'm saving money hand over fist.

[M]

I'm a little confused since the quote isn't talking about downtown loft life. These people are talking about living at the apartments that surround the Gold Line stations. These apartments are not lofts and if anything are in Pasadena downtown, which is pretty nice compared to downtown LA. With the exception of the constant construction in Pasadena, it's a convenient place to live without having to drive (if you have guests over, don't let them park on the streets or they most likely will get a ticket.) Nearly everything you could want is within a short walking distance from Gold Line stops.

I work near these Pasadena apartments and honestly, I can't afford them. You'd have to spend hundreds of extra dollars on gas each month to break even with the increases in rent compared to other areas that require more of a drive. People keep ripping down apartments near these train stations in Pasadena as well and "lofts" are being built in their places, but no one is buying them.

I live fairly close to a Red Line station and there is a building of townhouses right next to my apartment building. None of the townhouses have sold or been rented out in over a year. I know some developers have their hopes up, but gas prices are going to have to go a bit higher before some of these (very expensive) living places become more attractive.

Mark does hit on a major issue with Urban living in LA. The green space needed to keep people sane and happy is severely lacking. All of LA only has 60 community gardens. With so many people in dense housing, community gardens are very necessary as people have a history with plants and animals that is consistently proven in studies to help calm and relax. Mountain views are increasingly being hidden behind giant buildings and parking garages. In some places all of the parks are difficult to get to or just surround the freeways, where children are not supposed to be due to health concerns. Streets are lacking trees and shade. It's a huge problem and if you expect people to not drive as much, these green spaces must be accessible on foot or bike.

[yours truly, Johnny Dollar]

I don't live in a loft in the garmet district; but...
when the client load needle pointed toward LA
(after 30 years of working and living in Palm Springs),
rather than sell my Palm Springs home, I purchased
a condo within four blocks of my office near the old
Desilu Studios (and I re-organized my budget).
Now, rather than be in Palm Springs five nights a week,
I am in Palm Springs two nights a week. My budget
has remained the same: Rather than five roundtrips
between West Los Angeles and Palm Springs a week,
I make one roundtrip. That's a savings of fuel money
needed for 1,000 miles each week. I won't buy a new car
with this savings; my present car is paid for; so that's a
savings of what 72 months of Prius payments at who only
knows $400 a month (x72) plus new car insurance and
new car registration? I don't need internet in both places
and I'm getting very basic cable tv in West LA for $9/mo.
I don't need HBO, etc. etc. A short bicycle ride to the beach gives me a sunset each evening that Showtime
can't deliver. I never was into the designer water thing;
but, if I had been that could have been a savings of another $1,000-$1,400/year (same usage of tap water
costs 51 cents/years based on 8 glasses/day.) And,
I have only been in a Starbucks twice, ever since I cut
out coffee some 12 years ago. How much did that save
me? I have no kids and only one wife--not five kids and
three ex-wifes, child support payments and alimony checks going out each month for the next 18 years.
(No 5 kids equals no 5 cellphones; no thank you, Verizon.)
There are many more ways to save money; having a
home in West Los Angeles and a home in Palm Springs?
It can be done; I'm doing it (and banking more money at
the end of each month than ever before). Loft-ty? Yes, things are looking up.
Oh, and my 250 mile rountrip to Palm Springs yesterday on the I-10? Thanks to $4.45/gallon prices, I had the freeway all to myself (both directions). $5/gallon gas; and things will continue to get better. Put on a happy face.

[Kudzu Fire]

nice looking space

[mark from echo park]

I agree with Mike G. Loft-living is as pricey as it gets per square foot. In addition to that, there's almost zero greenspace in Downtown, and no plans to add any. Why move downtown to save on gas, then have to drive out of downtown any time you want to see a patch of green?

[Dan]

I don't live in a downtown loft, but I do rent a small apartment in a neighborhood close to work. I could've afforded a house in the suburbs in the pre-bubble days and everyone said I was foolish to throw money away on rent. Well who's laughing now?
Real estate might have dropped enough now that I could afford a house out there even with $4.60 gas, but that's a sucker's bet I won't take.

[Mike G]

I had seriously considered the idea. Unfortunately the housing mix in downtown favors the poor renters and the rather upper class loft dweller. Most people that could afford a property in downtown would not be worrying about anything as trivial as money for gas.

So, I think your query is ill-posed. A better question might be if gas prices would drive one to housing in Pico/Union, Exposition Park, Boyle Heights, Echo Park or northern South Central. All of these inner city neighborhoods are relatively inexpensive and transit adjacent.