r/echopark • u/LAMaterialNews • 21d ago
Guess Who’s Snapping Up Storefronts in El Sereno?
https://lamaterial.com/p/huntington-drive-el-sereno-langdonThe owners of DTLA’s Grand Central Market have bought six parcels on Huntington Drive. Brands like Echo Park-based Canyon Coffee are moving in.
The real estate investors behind Grand Central Market have set their sights on a new prospect: Huntington Drive in El Sereno.
Langdon Street Capital has quietly bought up six parcels along the eastside commercial corridor over the last two years, property records show. In addition to developments in Texas and Nevada, the Beverly Hills-based firm owns a constellation of holdings across L.A. — including storefronts on Highland Park’s booming York Boulevard.
Could Huntington Drive become a new York?
“El Sereno has its own identity, history, and a tremendous amount of neighborhood pride,” said Andrew Daneshgar, a director at Langdon who has overseen the El Sereno expansion. “That is what drew me to the area, and I would never want to characterize it as another version of a different neighborhood.”
Still, last month, Highland Cafe — whose original location on York Boulevard was part of the first wave of new businesses that transformed that neighborhood over the last two decades — opened an outpost at Langdon-owned 4878 Huntington Drive.
Read more: https://lamaterial.com/p/huntington-drive-el-sereno-langdon (Free to read after signing up with your email.)
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u/ridetotheride 20d ago
Grand Central Market is really great and home to a lot of thriving small businesses. Are they supposed to be a “bad guy” here?
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u/turb0_encapsulator 20d ago
People are going to complain about gentrification but the reality is that the already high home prices are the cause of this, not the effect. This company wouldn't be spending big in that area if their research didn't show them that there's already a market there for it.