Cap for the 101 in Downtown Los Angeles
The proposed cap to cover the 101 through most of downtown is a fantastic idea. It’s been on the back burner for years now so Curbed LA gave it another shot to rekindle some interest.
For once I’m not advocating more Los Angeles triple net retail space, office space or any kind of commercial space for lease or purchase. I think park, event and gathering space is a perfect use for this. Folks with 1031 exchanges will have to wait for my next post as this one is about wide-open space, right in the heart of downtown LA.
Plans are to eventually cover the 101 all the way from Grand on the west to Hewitt on the east. Proponents of the project, Friends of Park 101, expect the cap to be built in four phases over many years (decades?)
These kinds of projects take years or decades regardless of where they’re built, but we must keep pushing this forward as the benefits are so great. It’s a ‘quality of life’ type improvement, but it can’t help benefiting the business I’m in, which is Los Angeles, West LA, and Santa Monica commercial real estate. There are no losers with this one. Maybe they’ll also start thinking about capping the 110?
As always, for your Los Angeles or Santa Monica triple net retail or for any other type of investment real estate properties, give me a call, Scott Harris Realtor with KW Commercial in Santa Monica, BRE# 01439560, at 310-473-4789