Attempting to Poach Downtown Tenants: Cool or Not?

It’s good for the Downtown resident to know what’s out there. It also means rents are more likely to remain where they are when building owners and property management companies know there’s some competition out there.

Me, I’m one rent increase away from switching buildings.

Renters can only benefit from active competition for their domicile dollars.

The idea that one building is “poaching” from another is pretty silly in a marketplace that has no agreements on such things…

What are you guys paying for rent right now?

I live in premiere towers - and pay $1750 for 2 bed/2bath with one space. Its not as cool as the chapman, but its def has a lot of value, including views!

^that space/rent sounds good but what about the idea of amenities? What about pets? I know some places don’t allow pets at all and some only one.. Considering all that is done to market downtown to pet owners, it should be noted that not all places rent to pet owners.

I’m paying $1.50/square foot at the Santa Fe Lofts, a bargain compared to some places (and even within the same building). I’ll be checking out those Premiere Towers - wow.

I live in the fashion district, and am always receiving fliers from new buildings. I’ve called on several and after a minute or two of talking, the prices always drop and the incentives (one, two, three months free rent with a lease, etc.) begin.

I think the appeal of living downtown is severely limited. Every loft on my floor in my building has turned over at least once in the two+ years I have lived there – some twice. When I chat with people, almost all are not staying downtown, but rather are moving “as far away from downtown as possible” as the last couple told me.

The typical cycle for most people is to buy into the downtown hype, fall in love with the cool loft spaces, revel in the excitement of “urban life” then quickly burn out on the lack of amenities, screaming homeless, urine-soaked streets, and scary empty streets at night. Then it’s back to the westside.

Paying 1650 for a 1BD and a tandem parking space, unfortunately framed in with a stupid, clunky hydraulic lift that we’re not allowed to use. (Hey Bartlett Parking – if we can’t use them, get them the hell out of here so parking is easier.) Can’t say I love my unit or the building, especially with the incessant noise on Spring and lame street level retail (the only thing good is the Raspado Express). The roof could be fantastic, but sadly, is aesthetically crippled. A plus side is the relative anonymity of living here, vs. the dormitory attitude of the Old Bank buildings. Cross advertising is fine, but really, what’s the point? So I leave this building and move to one a block over with an average-sized pool I’ll probably never swim in much. We’re all just privileged people living in shoddy, re-done boxes, some bigger, some smaller. Downtown will never be Paris and face it, its never going to be thriving at night in any of our lifetimes.

Richard’s assessment of the half-life of an LA loft dweller nailed it. Unless you’ve been a “lifer” who bought in the 70s or 80s, it’s fun for awhile, but there’s only so many trips three blocks up Broadway, two block down Spring that any person take. When the reality that you’ll never be able to buy good bread or good coffee late at night sinks in, you grow weary of the experiment and look elsewhere in LA, or leave the city entirely.

It’s poaching, and it’s probably the only reason we’ve been able to stay in downtown. Every year at the Downtown Living Weekend, Alex and I scramble around town to find the best offer, see if the current building can match it. If not - then moving we go.

We were at Santee Court for one year, moved because PE could give us a higher floor, better view, a storage unit, and parking - for the same rent we had at Santee. At Santee we were on the ground floor, looking into a lightwell.

We moved from PE because of (like most of you haven’t heard this story) neighbor noise, but also SB Manhattan could give us a quiet neighbor, higher floor, more space, and a w/d in unit. However - no parking or storage unit. Which worked out to be a better deal for us anyways - we found cheap parking and moved the storage stuff back into LA Storage.

When our lease is up, we will see what Downtown has to offer. South Park and City West are high on the list because it would be closer to Alex’s work. But, we wouldn’t move unless the deal is better than SB.

At this point, our home is easy to move. And, it gives us a chance to host another loft warming party for friends.

We are downtown nomads. :-)

I got the flyer and was underwhelmed.

When the highlight of the amenities is a fridge, one might look around and discover that downtown…in both market rate rentals and condo rentals, fridges are standard.

And washer/dryers are almost standard as well.

Having lived in the challenging environs of the area…after ten years on Bunker Hill, it is kind of refreshing to be courted as a renter…but I am happy where I am…a couple of blocks from the library.

And yeah…it it is cool to poach…especially if landlords have interest in keeping good tenants.

You live in Premiere as well man?

Lets go on a bike ride one day! :)

Richard;

I see your POV - many escape because its not as Glam as they thought it was going to be. However, IMO, the streets are not as Scarry quiet as they once were.

When I use to drive through the historic district, back in the late 90s looking for “coool hidden parties” - it was completely like the house in fight club. Now, despite there only being 40k or so people living in the area, walking to Ralphs, or to Broadway bar isnt terrible.

I didn’t move downtown for a “glam” element (as there isn’t one to speak of, thankfully, unless discount tube socks and a cluster of old buildings are the new glam). Compared to what I experienced during the crack explosion of the mid-80s, these streets pale in comparison to anything “scary.” Urine-drenched, yes, but scary, no. I think the dismay comes from both living in a neighborhood that becomes way smaller than expected (where a drive to Pasadena becomes a breath of fresh air), and lacking in all the good stuff, round the clock, that people expect from living in an area like downtown.

I lived in Ocean Park/Venice Beach for 13 years and got to the point that I was fed up with the gentrification demographic that swept into the neighborhood as soon as rent control was repealed. I told my accountant that I will buy when I feel like it’s the right time to move.

The day came when a new neighbor in my apartment building in Ocean Park walked within two feet of me in the hallway, and did not respond after I said hello. It was time to move - the funky tight-knit community of Venice was over. I called my accounant and said I’ll start looking for a place to buy.

A friend told me to look in the Historic Core for a loft that would be affordable. Having worked downtown in the late 80’s, my reaction was “NO WAY - AMONG CRACK WHORES AND DEALERS???” So to prove him wrong and cross off downtown as a potential neighborhood from my list, I came down with my realtor - but I was pleasantly shocked.

The fourth loft I looked at was perfect - a view of the skyline and 11 foot high ceilings in a building that was almost 100 years old. And I’ve lived there for three years.

Because of the strong sense of community, I have found the closest friends I think I have ever had. I am writing again. After the first meeting of the writers group that Celia formed, I was walking back to my loft with my messenger bag full of scripts to read and looking at the buildings coming back to life. I remember how lucky I felt.

And I am painting and drawing again after 15 years of no inspiration. My friends are artists and writers - and I’m lucky to have such a great support system. Celia - I hope you are reading this because you have been such a big help to me.

I love that downtown is such a small town. I love it that I can walk over to L.A. Cafe and chat with David and Liz, and know that they know me by first name. I love it that I can go to Banquette and jump into the conversation about the latest book we’ve read. I love it that I can bump into Ben walking his dogs, or call Bert and meet him for dinner at Blossom and I don’t have to drive. If you live in L.A., it doesn’t get better than this.

So if you have complaints, I have to wonder why you live downtown. I couldn’t be happier, and it just gets better with each day.

Poaching is illegal hunting, not free market solicitations.

Ginny, you had problems at PE Lofts?

The house in Fight Club was down in the port. Much of Seven was shot in the Historic Core or so I have heard.

Is it possible that while these fliers are being sent to the current residents (I got one too), that its more of an information campaign. I have friends who ask me about moving to downtown all the time. Perhaps what the Chapman is doing is giving us the info we need to advertise on their behalf.

Hey Ankur: how much noise do you get from the freeway?