Downtown San Diego Growth

I marvel at the transformation of downtown in the last decade. Once a sleepy little town, downtown San Diego is vibrant with activity. As the economy flourished in the 2000s, so did downtown’s development. With recent growth came residential high rises that beautified our skyline and contributed to the live/work community we know today. In fact, the boom began in 2001 and is responsible for approximately 80% of downtown’s residential buildings, constructed between the years of 2000 and 2008. They are a combination of low, mid, and high-rise buildings.

Downtown’s residential development began with two low-rise buildings, Park Row (1983) and Marina Park (1984). These two communities are two and four stories high, lushly landscaped with beautiful gardens and outdoor walkways. Both are adjacent to Pantoja Park, a favorite of the locals. Next came two high rises, the Meridian (1986) encompassing 172 elegant residential units, and Harbor Club (1992) with twin towers 41 stories high, built on downtown’s “front row”. What followed were two mid-rises, Watermark (1992) and City Front Terrace (1994). An elegant beauty, Watermark is constructed of concrete and steel, unique for a mid-rise. A portion of City Front Terrace is built as part of the historic Soap Factory warehouse, ten stories high, and all brick! All six communities are built within the Marina District, and close walking distance to the biggest attraction in downtown at the time, Horton Plaza shopping mall (1985).

Some of the first construction of downtown was the El Cortez (1926) on Cortez Hill, and Samuel Fox Lofts (1929) located in Gaslamp, the heart of the city. Originally built as a hotel, the El Cortez is now a historic landmark, and sold as condominiums. Samuel Fox Lofts rarely has condominiums available for sale. While all of these developments are close to downtown’s core business district, later developments (2000s) pushed the outer edges of the city, extending downtown’s neighborhoods to Columbia and East Village. Two recently built residential communities in Columbia are Sapphire(2008) and Bayside (2009), both luxury high rises offering resort-like amenities, concierge service, pool, spa, sauna, library, fitness center, wine room, and 24 hour security to name a few.

Many downtown high rises have built-in commercial/retail space, separated from residences with street level entrances. In these commercial/retail spaces, you’ll find businesses that include corporate offices, restaurants, hair salons, and cafes. Horizons, Pinnacle, Alta, and the Meridian are examples of residential communities that have storefront businesses as part of their buildings. For example, Pinnacle is home to well known Richard Walker’s Pancake House.

Whichever community you choose to live and/or work, you’ll find convenient shopping, available services, parks, recreation, theaters, and restaurants all within short walking distance. Whether it’s a stroll along Market where you’ll see tree lined streets decorated in blue lights during winter holidays, lounging in Children’s Park with its elaborate water fountains, attending a baseball game at Petco Park, or taking a yoga class, you’ll love and feel the energy from this blossoming urban city.

Albuquerque Downtown Hotels Discounts, Deals and Reservations

Providing their guests with the best possible service available, Quality Inn & Suites in downtown Albuquerque extends its welcome through deals and discounts. Guests can avail of discounted room rates easily with a simple tap of the touch pad. You can just check online or you can call them directly.

Guests can enjoy a room for only US $60 a night. They offer a complimentary continental breakfast, airport-hotel transfer and outdoor pool with sundeck and a spa tub. Other amenities include a fitness and business center, parking and room service. Several additional amenities can be availed but may incur additional fees. This includes access to Hi-speed Internet, babysitting and allowing small pets to stay in the hotel.

The hotel is conveniently located in downtown Albuquerque. It is 2 miles away from the Convention Center, Historic Old Town, Explora and BioPark. Moreover, the Indian Pueblo Cultural Center, National Atomic Museum and the Sandia Peak Mountains are a few minutes away by bus or tram.

Econo Lodge Downtown
Located in Downtown Albuquerque, Econo Lodge offers standard rooms with big and comfortable beds, air conditioning and heating units as well as satellite TVs, refrigerators and tea and coffee makers. All these for only US$55 a night! A room rental comes with a free continental breakfast and coffee as well as usage of phone services for local calls and an outdoor heated pool.

Business and corporate travelers can be provided with additional services such as larger work desks and access to hi-speed Internet and fax machines. It is conveniently located near the University of New Mexico, Albuquerque Aquarium, Sandia Peak Ski Area, Abrozino Balloon Mexico, Fine Arts District and the Historic Old Town. Discounts and points for Choice Privileges® can be earned online as well.

Silver Moon Lodge Old Town
Located within the history Route 66, Silver Moon Lodge Old Town offers its customers with the best of southwestern hospitality. This hotel in downtown Albuquerque features a fitness room, in-room coffee maker, meeting and parking space and a complimentary hotel-to-airport transfer shuttle. They offer 24-hour service and is pet-friendly.

There are various quaint shops and restaurants that are idyllic and iconic in this historic town. Less than a mile away is the Whittlesey House that was built in 1903 and Lindy’s Diner built in the 1920’s. Silver Room Lodge offers rooms with a starting rate of US$60. More discounts can be availed by reserving online as well.

Plaza Inn Albuquerque
This hotel in downtown Albuquerque is a full service, triple A three-diamond and newly refurbished hotel that offers rooms for a starting price of US$55 per night. This deal is as welcoming and sweet as Southwestern Hospitality.

Guests are welcome to use their indoor heated pool, sundeck, indoor and outdoor heated spa tubs as well as fitness center. They have an entertainment center equipped with a Foosball, ping pong and air hockey table. Families are free to recreate an outdoor southern-barbeque in their picnic area.

A room reservation includes daily continental breakfast, popcorn and evening refreshments and free-flowing coffee in the hotel lobby. Various amenities can be availed, depending on the room package guests’ will reserve. This hotel also has a dry cleaning service, business center, hi-speed wireless Internet, guest parking, expanded shuttle service and coin operated laundry area. Room reservations can also be made online.

Why Downtown Los Angeles Is the Place for Alternative Commercial Money Lenders to Focus on in 2016

All reports show that baby boomers are our up-and-coming home buyers. Baby boomer professionals with money are looking to settle down and buy parcels of land that they can call their own and, if they have children, pass on to coming generations. Baby boomers mostly live, work and play in downtown Los Angeles and that is why this article suggests that alternative commercial hard money lenders may want to consider focusing their business on that area.

Downtown Los Angeles

Downtown Los Angeles is the central business district of Los Angeles, as well as a diverse residential neighborhood of some 50,000 people at this time of writing. A 2013 study found that the district is home to over 500,000 jobs. Wikipedia mentions that the district declined economically and suffered a downturn for decades until the early 2000s. Now, construction is brisk. Old buildings are being modified for new uses, and skyscrapers have been built. Downtown Los Angeles is known for its government buildings, parks, theaters and other public places.

Downtown Los Angeles is flanked by Echo Park to the north and northwest, Chinatown to the northeast, Boyle Heights to the east, Vernon to the south, Historic South Central and University Park to the southwest and Pico-Union and Westlake to the west. It is bounded on the northeast by Cesar Chavez Avenue, on the east by the Los Angeles River, on the south by the Los Angeles city line with Vernon, on the southwest by East Washington Boulevard and on the west by the 110 Freeway or Beaudry Avenue, including the entire Four Level Interchange with Highway 101.

In 2013, a study by Downtown Center Business Improvement District (DCBID) showed that of the 52,400 people resided in Downtown Los Angeles, the demographic breakdown was 52.7% Caucasian, 20.1% Asian, 17.0% Latino, and 6.2% African-American; 52.9% female, 47.1% male; and 74.8% of residents were between the ages of 23-44.The median age for residents was 3. The median household income was $98,700. The median household size was 1.8. In terms of educational attainment, 80.1% of residents had completed at least 4 years of college. The study was a self-selecting sample of 8,841 respondents across the Downtown LA area. It was not a “census” but rather a comprehensive survey of Downtown LA consumers.

Downtown Los Angeles and baby boomers

Downtown Los Angeles seems to be the territory of baby boomers. Research shows that baby boomers gravitate towards work/live/ play environments and LA certainly has all of that. According to a map from JLL that tracks millennials and baby boomers, Downtown Los Angeles outnumbers baby boomers by 10% in a consumer market. In most of the industry markets in Los Angeles, the breakdown is 25% millennials to 21% baby boomers.

Taylor Coyne, researcher of JLL, says that this information indicates where we need to build housing:

There is a huge demand for affordable housing in L.A. and understanding where one of the largest population groups wants to live, what amenities are most important to them, and what neighborhoods they can currently afford, could help guide development.

Baby boomers living in LA have upped their income during the last few years. They are focusing on their investment portfolios. A large number of baby boomers live in downtime LA. It only makes sense to construct there. It would also make sense for private money lenders to take another look at this area.

Downtown Los Angeles and private money lenders

Baby boomers, as the JLL report also shows, are the up and coming home buyers… Companies are making use of this research and setting up businesses accordingly. Money lenders may want to take this data into consideration,too.

Los Angeles is pricey. Most of its homes tossed from out of the reach of the regular man or woman of the street. Many prospective investors, too, are likely to find themselves shunned by local banks who are becoming increasingly reluctant to loan the necessary funds. Reports show that entrepreneurs and owners of startups comprise the bulk of business for hard money/bridge/ private lenders when it comes to commercial lending. A large segment of those who seek loans to start their own business, market some invention, or engage in some other entrepreneurial project are baby boomers. Many of these individuals live in LA. The population is the perfect target market of private money lenders!

More so, many of these baby boomers have the necessary resources for going into the risky deals that constitute hard loans. They are willing and primed to deal with high repayments and the possible risk of losing their property. Many borrowers tend to sandwich hard money loans with bank loans. The entrepreneurial mindset is adapt to and habituated in taking risks. Baby boomers and private money lenders seem to be a match made in heaven. Or, at least, in the sometimes heaven of downtown LA.

Finally, although not conclusively, baby boomers are known as the “fast generation”. They doped on speed when young and fizz themselves with business speed when older. Their hyped up world of fast business deals and the now and immediate syncs with the hard money lender who beats the banks by offering customized McDonalds’-fast deals. Many investors or business owners cannot afford to wait the 2-3 months process that is demanded by the banks nor do they have the time or patience to fill out the numerous forms. Commercial private investors offer an alternative. Money can switch hands in shorter than a week. Forms are few. Schedules and terms are adjusted according to your convenience. No bank provides that! There is a comfortable face-to-face setting.

In short, downtown Los Angeles is the ideal place for hard money commercial lenders to set up court since it is the residence of baby boomers. And baby boomers – well, they are the ones buying homes right now.