Downtown come-ons

Here we go - desperate developers employing desperate means to unload all those downtown properties. MJW Investments, developer of Santee Village in the Fashion District, is offering a three-year lease on a Mini-Cooper to anyone buying one of its lofts. MJW President Mark Weinstein said he's gotten two takers. "It made a big splash and got national coverage," he told the Downtown News. Purchase of a Kor Group loft includes a three-night trip with airfare to Mexico. Of course, this is only the beginning: More than 7,500 units are under construction downtown - in addition to the thousands already built and empty. Already, developers are putting a bunch of these on the rental market as a way of generating cash.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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