What makes areas like Washington D.C., New York City, and even San Francisco appealing to people? Try the public transportation system. In New York City, you can take the subway just about anywhere. Need to get around the Bay Area? Just take BART. It allows residents to live without a car (or at least minimal driving). With gas, insurance, maintenance, and car loan/lease, that could be savings into the thousands per year. This is where Los Angeles is lagging. At least for now.
One popular neighborhood is Koreatown. As reported by Bisnow, “According to UC Berkeley’s Urban Displacement Project, Koreatown is one of the most gentrified areas in Los Angeles in the past decade.” Close to Downtown and a hop, skip, and a jump to Hancock Park, this area has amazing public transportation. Just on Wilshire alone, there are three Metro Station stops (Wilshire/Western, Wilshire/Normandie, and Wilshire/Vermont).
In addition, the City of Los Angeles has approved what is called the Transit Oriented Communities (TOC) program, which allows for denser affordable development of housing near public transportation. The concept (and hope) is that people will migrate towards these buildings and utilize the public transportation already there. This could create less congestion on the roads. In addition, with some of the units falling under “affordable rents,” it can provide the much-needed housing in Los Angeles.
As reported by Curbed Los Angeles, there has been a reported 52 projects throughout the area. They range from apartments, hotels, and even a Korean American National Museum.
For the most part, you can argue this is good for the City. It provides jobs during the building, gives more purpose to the neighborhood with not only additional housing but also the development of shops and restaurants, and hopefully less cars on the road. The concern remains for the displacement of the residents during the building. With prices climbing, and only a percentage of units eligible for affordable housing, many long-term residents may have to look elsewhere for housing.
What do you think of the development happening? What are your favorite spots in K-Town? Let’s start the discussion!
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