Downtrodden Downtown Builds a New, Upscale Identity in Ventura

"We're not Santa Barbara, we're not Pasadena and we're not Santa Monica. But we're not Bakersfield either. We're a prosperous beach town. We have a great downtown. It's bustling."

"The Olson Co., the state's largest developer of urban in-fill -- housing in aging city centers -- has already sold nearly all of the 26 Spanish-style condominiums it is constructing on one long-vacant acre at downtown's edge next to the Ventura Freeway. Prices range from $327,500 to $379,500, nearly double what they could have commanded three years ago."

"On a hillside across from Ventura's neoclassical City Hall, architect and developer Ray Mulokas is finishing 33 upscale condos, including four penthouses with dramatic ocean views priced up to $1 million each."

Ventura's downtown has undergone significant transformation from a dismissed, economically struggling seaside resort into a vibrant urban center. New cultural amenities including restaurants, movie complexes, live theater, and trendy boutiques have revitalized the area surrounding the historic 18th-century Spanish mission and century-old City Hall. Major developers, including the state's largest urban infill specialist, are investing heavily in residential projects, with condo prices nearly doubling in three years. Projects range from mid-priced Spanish-style condominiums to luxury penthouses commanding up to $1 million. This development signals genuine economic revival, with merchants, visitors, and city officials recognizing Ventura's emergence as a prosperous beach destination distinct from both struggling inland cities and more established coastal communities.

Read at Los Angeles Times