The Historic Core | Downtown Los Angeles Lofts For Sale
The Historic Core downtown Los Angeles lofts for sale. Back in the turn of the century, the area was the central business district (CBD) of the city from the first decade of the 1900s through the 1950s. In the 1950s the Historic Core became the center of retail and entertainment in the city. The district technically occupies the area’s between Los Angeles and Hill Streets.and from 3rd Street south down to Olympic. Within the Historic Core is a “pocket neighborhood” known as The Old Bank District. It lies between Spring & Main Streets and 4th & 5th Streets. The name was coined by iconic developer Tom Gilmore of Gilmore Associates therefore many continue to call Tom “The Father of The Old Bank District”.
The Historic Core & Old Bank District
In 1999, the L.A. City Council passed an “Adaptive Re-Use Ordinance”. This allowed for the conversion of old, unused office buildings to residential “lofts”, a growing national trend throughout the countries urban cities. The revival of The Historic Core brought on the renovation of amazing historic downtown buildings like The Rowan, The Eldorado, The Douglas, The Higgins and the Pan-American Lofts. Developers started coming out of the woodwork buying up these old gems thus, bringing in top architects and construction teams. With the redevelopment of these archaic buildings came the revival of all the old downtown theaters as well. These Iconic entertainment houses would soon come back to life. Properties like The Million Dollar Theater, The Globe, The Palace, The Los Angeles and The Orpheum.
The Historic Core Today
Today the Historic Core is a thriving area packed with Millennial’s and other locals enjoying the area’s many trendy hot spots, restaurants and lounges like the Grand Central Market. The New residential construction via high-rise luxury condos has come to the SE corner of Broadway & 4th by way of Perla. Park Fifth, another high-rise luxury condo building, this stunning property is for lease only, proudly siting on the NE corner of 5th & Olive. Jumpman, Michael Jordan’s new flagship apparel store has taken up shop on Broadway & 6th. Apple’s new worldwide flagship store continues construction in the old Tower Theater with so much more coming. Boutique hotel’s are definitely happening city wide and the Historic Core has their share fast approaching with Citizen M. and Cambia, leading the way, both due to open in late 2020. Certainly a “new look” for the “old bank district” with much more on the way!
The Mills Act
A very important aspect to investors and buyers of lofts in The Historic Core is the “Mills Act”. The Mills Act is an annual property tax abatement passed down to buyers/owners of lofts in most of this districts historic buildings (not all). These savings are a big deal as they are typically anywhere between 45-60% off your property taxes. Kind of a special perk for buying historic in one of downtown Los Angeles’s most special districts, The Historic Core!
Click to view all Homes for Sale in the Historic CoreFeatured Hot Lofts for Sale in Downtown LA’s Historic Core District
Buy | Lease With The RandelleGreen Group
If you are looking to buy or lease a loft in downtown Los Angeles and the type of properties and neighborhood mentioned above seem to resonate with you. It would be smart to take a good look at the Historic Core. The RandelleGreen Group can help. Broker Randelle Green’s extensive experience in the area is unmatched. Randelle spent 2005-2007 as the sales manager for the famed Pan-American Loft building and is a perfect source for a quick education on the Historic Core & The Old Bank District. Call now!
Top Restaurants, Bars, and Shopping The Historic Core:
- Redbird
- Perch
- Badmash
- Kazu Nori
- Barama
- Orsa & Winston
- Cole’s French Dip
- Le Petit Paris
- The Last Bookstore
- The Bradbury Bldg
- Spring Street Bar
- Maccheroni Republic
- Cliftons Republic
- The Edison
Commute Times Around Downtown From The Historic Core
- Little Tokyo: 0.9 miles
- Bunker Hill: 1.0 miles
- City West: 2.4 miles
- The Arts District: 1.2 miles
- The Fashion District: 1.7 miles
- South Park: 2.6 miles
- The Financial District: 0.9 miles
Check out the primary Arts District Buildings below and call 213-254-7626 for any tour requests or for more information!
The Historic Core’s Primary Buildings (Sale & Lease)
| Loft Photo | Loft Name | District | Address | Sale/Rent/Both | Year Built/Renovated | Luxury | # of Units | Lofts for Sale | Lofts for Rent |
|---|---|---|---|---|---|---|---|---|---|
 | The Bartlett Lofts | Historic Core | 215 W. 7th St. 90014 | B | 1911/2003 | 139 | View Lofts For Sale | View Lofts For Rent | |
 | Park Fifth Lofts | Historic Core | 427 W. 5th St. 90013 | R | 2018 | Luxury | View Lofts For Rent | ||
 | The Douglas Lofts | Historic Core | 257 S. Spring St. 90012 | B | 1898/2005 | 50 | View Lofts For Sale | View Lofts For Rent | |
 | Eastern Columbia Lofts | Historic Core | 849 S. Broadway 90014 | B | 1930/2007 | 147 | View Lofts For Sale | View Lofts For Rent | |
 | The Eldorado Lofts | Historic Core | 416 S. Spring St. 90013 | B | 1914/2007 | 68 | View Lofts For Sale | View Lofts For Rent | |
 | The Higgins Lofts | Historic Core | 108 W. 2nd St. 90012 | B | 1910/2004 | 135 | View Lofts For Sale | View Lofts For Rent | |
 | Pan-American Lofts | Historic Core | 253 S. Broadway St.90012 | B | 1897/2005 | 40 | View Lofts For Sale | View Lofts For Rent | |
 | Perla Lofts | Historic Core | 400 S. Broadway St. 90013 | B | 2020 | Luxury | View Lofts For Sale | View Lofts For Rent | |
 | The Rowan Lofts | Historic Core | 460 S. Spring St. 90013 | B | 1912/2006 | 206 | View Lofts For Sale | View Lofts For Rent |