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Sunday, September 25, 2016

Why the Sunset Junction Street Fair has been good for Silver Lake property values

The Sunset Junction Street Fair has faced a lot of backlash from residents upset about everything from high ticket prices to traffic generated by the Silver Lake event. But at, least for Silver Lake homeowners, a weekend of inconvenience and the $20 price of admission is a small price to pay for a substantial boost to the neighborhood economy and real estate market, according to festival organizers. In an interview with Frontiers magazine, Sunset Junction director Michael McKinely, said that the nearly 30-year-old festival, coming up this weekend, has played a role in changing the neighborhood, boosting property values and attracting vegan cafes by the score:

“When we first started, it was $200,000 houses with broken windows and empty businesses, said McKinley. “And now I think because of us, there are $1 million houses, upscale businesses and an upscale yuppy-type crowd. Nothing can stay the same; I think you just have to let things have their own life.”

Related story:
* Get your free Sunset Junction neighbor wristband. LA Weekly

Photo by Kansas Sebastian via Flickr


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