Using the example of the shuttering of the Rite-Aid at 7th Street (near Santee Lofts) the Garment & Citizen examines how the hyping of Downtown exceeded the realities of the real estate market and realities of the neighborhood itself. "All the gushing press and publicity couldn’t change the fact that the location still backs up against Skid Row, one of the toughest precincts of the city. It still takes a walk of several blocks—through territory that can be pretty scary at night—to get to the next section of Downtown where bright lights and activity provide a perception of security." According to G & C, downtown events like Art Walk may bring visitors (but they're just visiting), and the neighborhood has not reached the critical mass to quantify the “live, work and play" tagline given by downtown marketers. Downtown is in for some tough economic times in the years ahead, according to the paper: "Perhaps by then our boosters and builders will have learned enough from the last go-round to ensure that the new corner drugstore will still stand tall when the next hot streak comes to an end."
· Rx for ‘Residential Renaissance’: Take 2 Years and Ease Up on the Hype [G & C]
· Public Enemy: Don't Believe The Hype Video [Youtube]
For more stories from Curbed LA, go to la.curbed.com.