Downtown gentrification is finally starting to creep east--today comes news that a partnership called Bristol 423 has bought three 100 year old, single room occupancy hotels on the outskirts of Skid Row and plans to "clean them up and make them attractive to young artistic types," while keeping them low-income housing, according to the LA Times. The buildings, all of which sit right around Fifth and Los Angeles, include the Baltimore Hotel built in 1910, the King Edward built in 1906 (and home to King Eddy's Saloon), and the Leland Hotel. The LAT says the hotels have a total of 415 rooms, although a 2007 Community Redevelopment Agency memo (pdf) puts the number at 368. Partner Eric Shomof says "We'll try to bring back their original looks as much as possible," and that they'll add more lights, beef up security, make cosmetic improvements, and add groundfloor retail: "Plans call for offering cheap rent to retailers who will open restaurants, dry cleaners and other businesses that serve the neighborhood." They also say current tenants will be able to stay, unless they break the law. Bristol 423 bought the buildings at bankruptcy auction for $9.8 million.
· Three downtown Los Angeles hotels are sold to developers [LAT]
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