The Pull Of Ethnic Centers

Los Angeles Koreatown, once a less-than desirable neighborhood, has become a destination for wealthy tourists and suburbanites.

1 minute read

December 16, 2004, 9:00 AM PST

By Chris Steins @planetizen

"The influx [of residents] is helping shift Koreatown's geography. The community was formed in the late 1960s and early '70s along a dilapidated stretch of Olympic Boulevard near Western Avenue. But now, Wilshire is emerging as the main drag, especially for the newcomers.

...Developers are converting several high-rise office buildings along Wilshire Boulevard into luxury apartments... The eight California-chartered Korean banks in Koreatown are all within several blocks of Wilshire, sometimes called the 'Korean Wall Street.' They now have combined assets of about $9 billion."

Thanks to Chris Steins

FULL STORY: An Ethnic Center's New Pull

Wednesday, December 15, 2004 in The Los Angeles Times

Community / Economic Development California

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