Tag Archives: investment

Miracle on Drew Street

Today I drove through the Drew Street neighborhood and found an L.A. miracle.

Fabrizio Uzan had purchased a triplex out of foreclosure. When I met him, he was redoing the IMG_1929downstairs unit with new refrigerator and stove, new toilet and bathroom sink and shower, new floors and paint.

His property is at the corner of Drew and Estara – one of the most dangerous gang corners in all of Los Angeles a few years ago.

Uzan lives in Hollywood but thought the area had turned around and bought the property. He is upgrading the unit with a thought to charging $1500 for the one-bedroom, up from $925.

He told me he’s in no hurry to rent it. Rather, he wants a quality tenant. Under the old owner, the previous occupants had squeezed two families into the unit. Those days are over, he hopes.

“Good people won’t pay high rent for a shitty place,” he said. Indeed.

Uzan’s investment in this property marks a stunning moment in the history of Los Angeles, I believe.

From my count, Uzan is one of about eight or ten property owners – new and old, residents and landlords – who appear to be investing in fixing up their units/houses on the once-notorious street. Investing in real estate on Drew was lunacy a few years ago. Not any more, apparently.

There’s still some gang graffiti to be seen in the area. But that doesn’t seem to daunt many urbanIMG_1930 pioneers here. The gunfire and late-night insanity of the round-the-clock drug dealing are gone. No more screeching tires startling people from their sleep at night.

This is one street, and a tiny one at that. But I see the corner of Drew/Estara as a barometer of L.A., one that measures important changes to working-class neighborhoods where gangs dominated (and some still do) across the city.

Which is why I wrote about it in my story that Pacific Standard Magazine put on its cover and called “The End of Gangs.”

2015-jan-feb-cover-small

 

 

 

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Filed under California, Gangs, Los Angeles