Deal Signals Koreatown’s Rebound

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Koreatown’s charms have caught on with Jay Yeun, who moved there more than a year ago, the Los Angeles Times reports.


“You have everything here,” Yeun said. The 30-year-old Seoul native had lived in Fullerton for 10 years before moving to City Heights, the area’s largest apartment complex. Now, most of his friends live nearby, and he frequents a 24-hour diner on Wilshire Boulevard for late-night tofu. Plus, he said, “in Koreatown, you don’t have to speak English.”


Executives at Kennedy Wilson Inc. are similarly charmed. The Beverly Hills real estate company on Thursday paid $120 million to Essex Property Trust Inc. for the 687-unit City Heights complex at West 3rd Street and South Westmoreland Avenue, and it plans to spend $11 million upgrading the 39-year-old former corporate housing development.


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