The LA Times takes a look at a new 119-unit loft building under construction on Glencoe Avenue, close to the intersections of Lincoln and Washington boulevards near Marina del Ray. Housed on the site of a former office building, the six-story building will sell condos priced from $500,000. Given that nearby homes sell for lots more, these units are targeted at the area's "workforce," according to developers. (Uhm, still expensive.) Better yet, the developers believe that the condos will help traffic. There are more than 1,000 apartments and condominiums under construction or completed in this industrial-heavy district, and with the homes replacing commercial establishments-- which draw shoppers and traffic--everything is looking rosy, at least according to the developers, who tell the paper: "We're replacing some pretty heavy traffic generators."
· Loft condo complex to rise on site near Marina del Rey [LA Times]
· California Landmark [Official Site]
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