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Will the pilot program that opens a stretch of the LA river to the public be positive for the surrounding real estate?

Asked by Trulia Los Angeles, Los Angeles, CA Fri Mar 22, 2013

check out more info here:
http://la.curbed.com/archives/2013/03/stretch_of_la_river_wi…

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5
Albert Goldberg’s answer
Hi,

I sure hope so. It's a good thing that they are doing to return a concrete river back to it's original state.

Lets go buy & sell some real estate.

Great

Albert M. Goldberg Broker
alyourbroker@yahoo.com
Thirty Plus Years Experience
800-765-3609
1 vote Thank Flag Link Sat Mar 23, 2013
BEST ANSWER
The pilot program and related recevelopment along that section of the Los Angeles River program will definitely be positive for commercial real estate in that corridor, especially along Blake Avenue, in Elysian Valley where prices are already rising.

Residential real estate prices are rising as well in Elysian Valley (Frogtown) but not without some culture clash, since long time residents resent the recently added Bicycle Path along the River there and its negative impact upon local pedestrians walking and fishing along the River. In addition, Elysian Valley is currently a shopping desert - residents must drive/bus to other areas for virtually all their grocery, transportation and lifestyle needs.

In addition, there is some concern that the popularity of the Bike Path and the Pilot Paddling Program will bring more outside visitors into Elysian Valley, negatively impacting its current high affordability factor, quietness (except for freeway hum) and community feeling.

Thus, at this point, it's a mixed bag what the future will bring, especially since most of the LA River Revitalization Master Plan implementation is currently unfunded.

For more information on the current NELA Corridor Study, visit http://www.mylariver.org.

As a current member of the EPA Los Angeles River Federal Partnership Pilot Program, I follow LA River corridor real estate extensively. Feel free to contact me if I can be of assistance to you in selling or buying LA River adjacent property.

Best,

Meredith McKenzie
Broker Associate 01142186

Podley Properties
626-344-9755
arroyolover@gmail.com
1 vote Thank Flag Link Fri Mar 22, 2013
Hi,

Thank you very much for your Thumbs Up !!!!

If I ever can help you, a friend, associate or family member for any and all possible real estate needs,
don't hesitate to call, text, or email us.

Thanks

We appreciate your business.

Best

Albert Maxwell GOldberg Broker
alyourbroker@yahoo.com
"Making Real Estate Fun"
30+ Years Experience
800-765-3609
0 votes Thank Flag Link Sun Mar 24, 2013
Yes! I'm quite excited about he Los Angeles River Project quite a bit of it runs right through Culver City. I think it will improve property values along the river ( a good thing) plus provide shade, habitat for migrating birds and recreation to Los Angeles.
0 votes Thank Flag Link Sat Mar 23, 2013
I might add to my previous answer that when there is some uncertainty about the upside of an area, those who take the risk during the time of uncertainty and buy end up with huge profits ultimately when the area turns 'hot.' There is no doubt that the LA River Revitalization, which is a 50-year plan, will have a positive lasting impact on Northeast Los Angeles communities. The key is buying and holding long-term while waiting for the market to 'come to you'.

Meredith McKenzie
Broker Associate #01142186

Podley Properties
626-344-9755
arroyolover@gmail.com
0 votes Thank Flag Link Sat Mar 23, 2013
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