Slow Movement of the L.A. Metro Expo Means Big Opportunity for Investors
June 23, 2017
The L.A. Metro Expansion has been outspoken about its mission to decrease the greenhouse emissions in Los Angeles County. But whether or not the environmental incentives strike your fancy, the L.A. Metro expansion offers something investors should keep an eye on for entirely different green reasons: money.
In the five years since the Metro Expo line was opened, ridership has outpaced even the wildest imagination of city developers, averaging a total of 1.5 million passengers per month so far in 2017. The extension has also eased the commute between the Westside and the rest of Los Angeles, which Los Angeles Times writer Christopher Hawthorne compares to the collapse of the Cold War's Iron Curtain.
Just look at what happened with the Second Ave. Subway extension in Manhattan. Even before the expansion was completed, there were more than a dozen new real estate developments in the affected area.
These homes were clearly built to attract new, wealthier residents into the neighborhood after accessibility was improved. And as a result, real estate investment advisors encouraged clients to fund high-end retail and restaurant spaces for new businesses that could reap the benefit of the new residents.
Unlike Manhattan, there are currently a number of issues that are preventing the area along the Expo line from exploding to its fullest potential. Building height limitations, rigid parking requirements, and restrictions on housing density all stand in the way of eager real estate developers.
Zoning plans are in the works, both in Los Angeles and along the Santa Monica extension of the Expo line, but the movement has been slow. Critics question whether the current rezoning plans will be enough to spark massive change.
While critics lament the disjointed way the L.A. Department of City Planning has approached the Expo line corridor, their halting movements have created massive potential real estate investment opportunities. Real estate investment advisors predict that developers could make off with broad swaths of land that, once the new zoning plans are finalized, could dramatically increase in value.
Eagle-eyed investors are already lining up to exploit what will no doubt be a roar of new construction and development on everything from high-end real estate to upscale retail and dining. Considering the current housing scarcity in L.A., and the fact that 89% of investors are looking to invest in real estate, according to a Better Home and Gardens Real Estate Survey, chances are those investment opportunities will be gone fast.
Hubilu Venture Corp works hard to be the best real estate acquisition company Los Angeles has to offer. If you are looking for real estate or student accommodation investment opportunities, call our experts today to get started.