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Culver City's 'Parcel B': Guaranteed Home Price Booster

Home owners near downtown will continue to benefit from the ongoing retail development of Parcel B.

It's hard to imagine a more valuable piece of land in all of Culver City than . Just take a drive around the city, and you will see very few anywhere. As any of us who have lived here more than 10 years or more understand, the redevelopment of our very own downtown has improved the value of all homes in Culver City, and in particular, those homes situated within a quarter of a mile from the (the center of the area in question).

Back in 1997, there was very little difference in the price per square foot of a single family home in Veterans Park verses a home in neighborhoods close to the intersection of Main Street and Culver Boulevard. A Vet's Park house would run you around $187 a sq. ft., and near downtown would set you back $192.

Today, the price per square differential between the same two areas has grown to more than $70. This translates into almost $100,000 more in value for the average 1,400 sq. ft. home in the close proximity to or . 

Once the retail development of Parcel B is complete, one thing you can take to the bank is that the differential will grow.

The only question that remains is by how much.

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Rich November 08, 2011 at 09:13 AM
Has anyone thought that the more expensive the square feet - the more expensive the business has to charge Culverites for their product/services? As a local citizen these prices have priced me OUT! (Remember the 77 Restaurant next to the parking structure? Its gone!)

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