Friday, August 11, 2006

The PT Lofts

So I've been following this project for about six months now, and things are progressing.

Several months ago, the Long Beach Press Telegram (a daily newspaper) sold its 1925 building to developers who intend to renovate it and turn it into one of twin towers of nearly 500 new urban lofts. The developers have been slowly but surely getting their plan through the planning commission and city council, and it looks like construction is going to start by year's end.

For the last year or so, I've been overcome with the need to buy a home, almost to the point of serious panic and anxiety, both of which (P&A) are totally uncharacteristic of my natural disposition. The PT Loft project is my best hope for the future in terms of being able to stay local and still buy a decent home in a desirable neighborhood. The real estate market here in LA has definitely softened, but it's still frighteningly prohibitive. For example, as of last month only 12 percent of homeowners in LA County could actually afford to (re-)buy their own home. That's really scary. I'm a single woman with a single income, so it's that much harder for me, because when you get down to it, two really can live as cheaply as one, which makes it fucked if you're one.

Downtown Long Beach is going through a serious redevelopment boom which you can read about here. I've specifically targeted the PT Lofts for many reasons including budget, scale, timing, and location. Recently, I've done some of the leg work to assure that my reality is in line with my plan, and it looks like I can actually swing this. Here are some renderings of the proposal. I can't wait.





Recently downloaded from Itunes (with thanks to you-know-who-you-are for the hot Itunes gift certificate xoxo!):
"No One Knows" by Queens of the Stone Age
"Black is the Color of My True Love's Hair" by Nina Simone
"Woman" by Wolfmother
"I Bet You Look Good on the Dance Floor" by the Arctic Monkeys
"Juicebox" by The Strokes
"Dani California" video by the RHCP
"Crazy" by Gnarls Barkley
"Someday You Will be Loved" by Death Cab for Cutie
"Mother, Mother" by Tracy Bonham
"Gold: Asia" by Asia (yeah, I said it!)

10 Comments:

At Friday, August 11, 2006 11:43:00 AM, Blogger Diane said...

la - that is so, so awesome! the LBC is great, and they have done alot to improve the downtown area . . .it looks like a great opportunity and a great, funky place to live!

 
At Friday, August 11, 2006 1:08:00 PM, Blogger M-M-M-Mishy said...

That's so exciting! I really hope it works out for you, LA. Buying property is my dream. So, hopefully you'll keep us updated on your blog about it, and I can live vicariously through you. Good luck!

 
At Friday, August 11, 2006 2:11:00 PM, Blogger joy said...

LA I totally understand where you are coming from, the building plan looks beautiful. GOOD LUCK! It is so very hard when you are trying to make it on your own.

I've tried going it with two income {boyfriend} but they have always cost me more than they could bring in. Not worth it.

So I say, good luck again!

 
At Friday, August 11, 2006 2:58:00 PM, Blogger GetFlix said...

Those are some fine looking units. Very modern and clean. There is so much glass involved, I can imagine they will let in alot of light.

Buying property or land is all about commitment, and can be hard on the mind and spirit. But it seems like you do your research. Try and enjoy the process is my best advice.

 
At Friday, August 11, 2006 11:12:00 PM, Blogger ffleur said...

Are they going to tear down that nice 1925 heritage building?

I hear ya about singleton. I've had this argument with many couples who say its more expensive. NO! They have ONE cable bill, ONE hydro bill, ONE rent/mortage payment and TWO incomes to pay for it.

I have the same expenses but ONE income. I will grant their food bill is higher.

 
At Saturday, August 12, 2006 6:13:00 AM, Blogger prunella jones said...

Oooooo I've always wanted to live in a loft. It sounds like an excellent plan!

 
At Saturday, August 12, 2006 8:54:00 AM, Blogger Softball Slut said...

Living in a loft seems so sophisticated and adult and stuff. Good luck to you!!

 
At Tuesday, August 15, 2006 6:40:00 PM, Blogger kookla@work said...

I think I may have passed this last weekend. Me and some gals were going to the pier area for dinner. Is that where these are? I was admiring some new luxury condos and apts going up in that area when we made a wrong turn.

That is awesome. I hope you can buy one. I can't wait for the housewarming party! Good Luck!! Fingers crossed.

 
At Tuesday, August 15, 2006 11:51:00 PM, Blogger LA said...

Kookla - The old building hasn't been torn down yet, so I think what you saw was some of the other amazing redevelopment in downtown LB. Where did you eat?

 
At Thursday, August 17, 2006 7:15:00 PM, Blogger kookla@work said...

I'm embarrassed to say. I was with a girlfriend from the OC and one from Carson, so we winded up at PF Changs, which I totally hate. But I was amazed at how that whole pier area has really been renovated. It's gorgeous. Buy whatever you can get your hands on, because LB is definitely the place to be!

 

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