Three New Parks Announced for South LA, as SCIG Project Moves Ahead

Three new 'pocket parks' have been planned for the south of Los Angeles City, one in Harbor Gateway, and two in Wilmington.  While the Los Angeles Times reports that the chief purpose of the parks is to drive off sex offenders, their construction will no doubt improve the prospects for new residential developments in the area.  In other related news for the area, The Los Angeles Board of Harbor Commissioners will meet Thursday to consider certification of the recently published environmental impact report for the Southern California International Gateway Project, which promises to enhance the efficiency of cargo transportation to and from the harbor.  The ambitious project will undoubtedly bring a host of new construction and operation jobs, and do much to improve the local economy.

New Climbing Gym Coming to Arts District

According to Racked, Touchstone Climbing will open a new bouldering gym in the heart of the Arts District.  Located on Factory Place, the gym will cater to the anticipated influx of new residents in the area, and will feature 15 foot walls, meaning that climbers will probably not use ropes.  Look for more recreational facilities to begin appearing downtown soon.

S&P/Case-Shiller Index: Good News for Home Values

Today the S&P Dow Jones Indices released data illustrating an average annual gain of 7.3% for home values nationally.  According to the S&P/Case-Shiller Index, home values in Los Angeles rose an average 10.2% in 2012, with a 1.1% gain in December alone.  The news is better than most had anticipated and would appear to confirm both the end of the recession, and the beginning of a new expansion.