The Vermont Apartments |
Soaring high above Wilshire Bouelvard, the $200 million Vermont Apartments serve as ostentatious symbols of the recent influx of upscale housing into previously downmarket Koreatown. The densely populated community, long overlooked due to its isolation from the Southern California freeway network, has recently become a residential hotspot due in part to its relative affordability and thriving night life. Consequently, the market has responded with dozens of new and revived residential developments in all reaches of the neighborhood, including adaptive reuse projects and ground-up construction.
Now, this ongoing wave of multi-family development is pushing east towards MacArthur Park. Take a quarter-mile trip down Virgil Avenue, where a series of new mixed-use developments are replacing blighted properties on Koreatown's eastern fringe.