A Boomtown For A Bygone Era: Koreatown Developers Face A Reckoning
West Coast Real Estate Partner Douglas Praw was quoted in The Real Deal: Los Angeles about the uncertainty facing Koreatown amid the pandemic. Koreatown is the most densely populated neighborhood in L.A. But Koreatown’s rise faces uncertainty. The coronavirus pandemic may decrease demand for vertical, urban living just as Koreatown fills up with cranes and scaffolds for high-rises.
“Koreatown is a vertical neighborhood. People are going into parking structures and traveling on an elevator, which is being second-guessed right now,” Mr. Praw said. However, the pandemic will likely not throw the neighborhood’s next phase into too bad a direction.“L.A. is still a net importer of people and Koreatown is a hot neighborhood. Pandemic aside, I still believe in the Koreatown story.”
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