Lofty Ideas -- LA Times Style

Today's Los Angeles Times has a front page article on the issue of manufacturing-to-residence conversions. Seems I am not the only one with lofts on the brain. They mention the Biscuit Company Lofts, the Toy Factory Lofts and the Barker Block among others. The article concerns whether or not it is a good idea to get rid of so much manufacturing square footage in a city where vacancy rates for manufacturing is around 1%.

It's a valid question and there are good points to be made on both sides. As residences, the property is worth many times it's value as a manufacturing facility, but does this short-term boon for the owner offset the loss of jobs for the city?

I think the growth and development of new niche neighborhoods in what was until recently only a manufacturing district is worth nurturing if only from the standpoint of a sociological experiment, and I don't think I am the only one holding this opinion. The truth is there appears to be an awful lot of interest in being a part of one of these experimental neighborhoods. Many people seem very willing to spend a great deal of their money to join in.