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The View From Downtown L.A.

Posted on June 19, 2008

The most prominent developers in Los Angeles downtown got together this week for the Central City Association s tenth annual look at the real estate market. Tom Gilmore, who was early in renovating old buildings starting with his Old Bank District apartments downtown in 1998, tried to put the current market in perspective.When Gilmore first started, he said the urban core of America s second largest city was kind of crappy. It wasn t much of a downtown. There were 2,300 apartments with an average rent of $1.35 per square foot per month. Today he said there are 8,200 apartments r...

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