Many fast-rising, affluent, modern cities and neighborhoods oftentimes have one thing in common; they can be described as ‘Tech Hubs.’
The most recent of these neighborhoods trying to gain this title is Playa Vista, a neighborhood located on the west side of Los Angeles. Recently, the mixed-use project, known as Runway Playa Vista, that has been envisioned for Playa Vista’s downtown area was sold to a Dallas investment firm for $475 million, according to The LA Times.
Runway Playa Vista will offer retail, residential, and office space and was developed for about $300 million.
Why did this Dallas investment firm pay so much for the project? Well, with the likes of Facebook, YouTube, and Microsoft on the tenant roster, investors believe these companies will draw a spate of well-educated and highly paid workers to the area.
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