Although the eldest members of the Generation Y clan have most likely left their parents’ nests, the younger Gen Y-ers are still living with Mom and Dad, and quite possibly gearing up to leave home for the first time. Every week, the LA Generation Y column will profile popular local residences, from cheap to pricy and pet-friendly to industrial, to help future Gen Y apartment-renters and homeowners.
Sustainable and “green” buildings are becoming more and more popular in LA, with the growing interest in environmentally friendly living. Over the past few years, Downtown LA has become the home of three sustainable apartment buildings – The Luma, Evo, and Elleven.
The Luma, Evo, and Elleven buildings are the first LEED Gold certified high-rise buildings in California, planted in the South Park district of Downtown LA. They feature bamboo flooring, low-emitting paints, energy-efficient lighting, and dual flush toilets that conserve water. The South Park district entices Gen Y-ers due to its arm's-length distance to LA Live. The Luma, Evo, and Elleven buildings are a mere walk away from Downtown's biggest attractions.
Of course, to live green you must show the green. These apartments don't come cheap. The cost of buying a condo in the Luma building is anywhere from $400,000 (first floor) to $2 million (multi-room penthouse) and the average rent runs at about $2,500/month. The Elleven and Evo buildings are a tad less expensive, with buying prices from $300,000 to $1.1 million and rent averaging at $2,000/month. One upside is that the buildings offer live/work condos -- condos that allow you to legally operate a business from your living space -- meaning, a possible tax write off!
The price of sustainable living certainly isn't for everyone, so check in next week for a profile on inexpensive buildings!