Welcome to the Steel City, a place where bridges connect neighborhoods, innovation thrives, and sports fandom runs deep. If you’re thinking about living in Pittsburgh or already on the hunt for a home in the city, you’re in for a treat. Pittsburgh is a city bursting with character, charm, and countless reasons to make it your new home.
In this Redfin article, we will dive into some fun facts about Pittsburgh, PA, that will make you fall in love with the idea of calling this remarkable place home. So, whether you’re looking to rent an apartment in Pittsburgh or buy a home in the area, get ready to be entertained and enlightened by these 11 fun facts that make this city truly special.
1. The city is an innovation hub
Pittsburgh’s rich legacy of innovation is undeniable, and at its heart lies Carnegie Mellon University, a powerhouse in the world of technology and robotics. But the city’s pioneering spirit doesn’t stop there. In 1920, Pittsburgh proudly became the birthplace of KDKA, the world’s first commercial radio station. And if you’re a fan of that ubiquitous smiley face emoticon used in countless online and text conversations, you have Carnegie Mellon University computer scientist Scott Fahlman to thank for its creation back in 1980.
2. Pittsburgh is the City of Bridges
Pittsburgh proudly wears its title as the “City of Bridges,” and with over 446 of these majestic structures gracing its cityscape, it’s a title well-earned. In fact, Pittsburgh surpasses even Venice, Italy, in the sheer number of bridges within its city limits. The iconic yellow Three Sisters bridges, along with the awe-inspiring vistas from Mount Washington, create some of the most breathtaking and picturesque scenes you’ll ever encounter in the city.
But the story of Pittsburgh’s bridges doesn’t stop there. The Monongahela Bridge, which stands in place of the original Smithfield Street Bridge, holds the distinction of being Pittsburgh’s first-ever bridge. Meanwhile, the trio of Roberto Clemente, Andy Warhol, and Rachel Carson suspension bridges, spanning the Allegheny River to Pittsburgh’s North Side, form a unique ensemble as the world’s only identical threesome of its kind.
3. The city is an education hub
Pittsburgh’s educational landscape extends far beyond Carnegie Mellon University. It’s also home to the renowned University of Pittsburgh, Duquesne University, and a host of other prestigious institutions. Whether you’re pursuing higher education or engaged in research, the city offers a rich ecosystem of learning opportunities.
4. The cost of living is relatively low
Compared to many other major cities, the cost of living in Pittsburgh is relatively low. Housing costs, utilities, and even entertainment expenses are relatively lower, allowing you to enjoy a comfortable lifestyle.
In fact, in August, Pittsburgh saw a median sale price of $260K, nearly $162K below the national median. And, if you’d prefer to live on the outskirts of the city, there are several affordable Pittsburgh suburbs for you to call home.
5. Pittsburgh has a thriving arts and culture scene
Pittsburgh’s cultural scene is thriving. The Carnegie Museums of Art and Natural History, The Andy Warhol Museum, and the Mattress Factory Contemporary Art Museum are just a few of the city’s cultural treasures. The Pittsburgh Symphony Orchestra and the Pittsburgh Ballet Theatre add to the city’s artistic vibrancy.
The city comes alive with an array of events and festivals that celebrate its diverse heritage and artistic spirit. From the Three Rivers Arts Festival to the Pittsburgh International Jazz Festival, there’s always something exciting happening to further enrich your experience in this vibrant city.
6. Pittsburgh is a sports haven
If you’re a sports enthusiast, Pittsburgh is your ultimate destination. The city boasts an ardent fan base that rallies behind the Pittsburgh Steelers (NFL), Pittsburgh Penguins (NHL), and Pittsburgh Pirates (MLB), creating an electric atmosphere at every game held in iconic venues like Heinz Field, PPG Paints Arena, and PNC Park.
Remarkably, Pittsburgh ranks second on the all-time championships list, a testament to its sports legacy, and all of this, mind you, without a professional basketball team. The Pittsburgh Pirates, as the third-oldest MLB team, have been a fixture in Major League Baseball for longer than all but two other teams, making attending a classic Pirates game at the beautiful PNC Park an essential experience for anyone embracing life as a new Pittsburgh resident. Here, you’ll not only witness one of America’s greatest sports but also immerse yourself in the city’s indomitable competitive spirit.
7. The city has appeared in many blockbuster films
Pittsburgh has been a prominent backdrop in numerous blockbuster films, with perhaps the most iconic being “The Dark Knight Rises.” The city’s connection to cinema is particularly fitting, given that it was home to the world’s first movie theater, the Nickelodeon, which opened in 1905.
In addition to Batman’s epic battle, Pittsburgh has graced the silver screen in other major productions, such as “The Avengers” and “Jack Reacher.” From caped crusaders to action-packed adventures, Pittsburgh has become a star in its own right on the big screen, captivating audiences with its unique charm and cinematic allure.
8. There’s a ton of natural beauty
Despite its urban setting, Pittsburgh offers a wealth of outdoor experiences for nature lovers. A network of parks and green spaces, including Frick Park, Schenley Park, and Point State Park, beckon outdoor enthusiasts to hike, bike, and immerse themselves in the natural beauty that thrives in the heart of the city. These green oases provide a refreshing escape, making it easy to balance the hustle and bustle of urban life with the tranquility and serenity of nature, all within Pittsburgh’s welcoming embrace.
9. Pittsburghers speak Pittsburghese
In Pittsburgh, you’ll encounter the distinctive local dialect known as “Pittsburghese.” Here, the Steelers affectionately become the “Stillers,” washing becomes “warshing,” and “yinz” frequently takes the place of “you guys” in everyday conversation.
10. The City of Bridges is a foodie’s paradise
Pittsburgh has transformed into a haven for food enthusiasts, boasting a diverse culinary scene that promises a tantalizing journey for your taste buds. Here, you can relish in iconic dishes like the famed Primanti Brothers sandwiches, savor delectable pierogis, or embark on a global gastronomic adventure in neighborhoods such as Squirrel Hill and Lawrenceville.
Pittsburgh has also left an indelible mark on the beloved foods we all know and love. It’s the birthplace of the Klondike bar, Heinz ketchup, and even the legendary Big Mac, which was invented near Pittsburgh in 1967.
11. Pittsburgh experiences more rain than Seattle
While Seattle, WA, holds a reputation as one of the rainiest cities in the United States, it may surprise you to learn that Pittsburgh actually receives more annual rainfall. Pittsburgh averages 38.3 inches of rainfall each year, slightly surpassing Seattle’s average of 38 inches. So, if you appreciate the occasional rainfall as a refreshing cooldown, Pittsburgh might just be your ideal destination, offering its own unique take on weather and a chance to enjoy those gentle showers.
Fun facts about Pittsburgh: the bottom line
Moving to Pittsburgh opens up a world of possibilities and experiences that are truly unique. The city boasts iconic bridges, a lively cultural scene, a history of innovation, delicious cuisine, vibrant sports, and a welcoming community. As you explore the Steel City, you’ll discover countless reasons to live in Pittsburgh, each one contributing to the city’s undeniable charm.
If you’re considering moving to Cleveland, Ohio, it’s crucial to carefully evaluate the advantages and disadvantages of calling this vibrant city home. Known for its rich cultural heritage, diverse neighborhoods, and unique attractions, Cleveland offers a distinctive living experience. Whether you’re contemplating purchasing a home in Cleveland or seeking an apartment for rent, we will delve into ten pros and cons to guide you in deciding if Cleveland aligns with your vision of an ideal place to live.
1. Diverse culture and arts scene
Cleveland’s cultural and arts scene is a vibrant tapestry of creativity and expression. The Cleveland Museum of Art, one of the top art museums in the nation, houses an extensive collection spanning various cultures and time periods. The iconic Rock and Roll Hall of Fame celebrates the history of music, and Playhouse Square offers world-class theater productions.
2. Affordable housing
One of Cleveland’s standout advantages is its affordability, especially in the housing market. The average sale price for a home in Cleveland is $117,000 compared to the national average of $416,000. You’ll find that your dollar goes much further here. This affordability opens up opportunities for both homeownership and quality rentals in neighborhoods that suit your lifestyle.
3. Thriving healthcare and research
Cleveland is a global hub for healthcare and medical research. The world-renowned Cleveland Clinic and University Hospitals are leaders in patient care and groundbreaking medical research. Living in Cleveland provides access to top-notch healthcare and opportunities for those interested in healthcare professions or medical research.
4. Great food and craft beer
Foodies and beer enthusiasts will feel right at home in Cleveland. The city’s culinary scene is diverse, offering everything from Michelin-starred restaurants to food trucks serving up delicious street eats. Craft beer lovers can explore a burgeoning brewery scene with an array of unique and flavorful brews.
5. Natural beauty and outdoor activities
Cleveland’s natural beauty is a hidden gem. The city boasts stunning Lake Erie shores, the Cuyahoga Valley National Park, and numerous parks and trails. These outdoor spaces provide ample opportunities for hiking, biking, and exploring nature, making it an ideal place for outdoor enthusiasts.
6. Sports culture
Cleveland has a sports culture that runs deep. With professional teams like the Cleveland Browns (NFL), Cleveland Cavaliers (NBA), and Cleveland Guardians (MLB), the city offers year-round excitement for sports fans.
7. Winter weather
While Cleveland shines in the warmer months, the city experiences harsh winters with cold temperatures and significant snowfall, 63.8 inches per year on average. Be prepared for challenging weather conditions during the winter months, including icy roads and snow-covered sidewalks.
8. Economic challenges
Cleveland’s cost of living may be lower than in larger cities, but it does face economic challenges. Job opportunities in certain fields may be limited compared to larger metropolitan areas, so job seekers should research their prospects carefully.
9. Lake effect snow
Cleveland is susceptible to heavy lake-effect snowfall, which can disrupt daily life during the winter season. Residents should be prepared for winter driving conditions and potential snow-related inconveniences.
10. Limited amenity hours
In some areas of Cleveland, you may find that amenities such as grocery stores, restaurants, and entertainment venues have limited operating hours, especially during the evenings. This can be inconvenient if you’re accustomed to the 24/7 availability of services in larger cities. Planning your activities and shopping accordingly may be necessary.
Deciding whether Cleveland is a good place to live requires thoughtful consideration of these pros and cons. By evaluating these factors in alignment with your personal preferences, lifestyle, and priorities, you can make an informed decision about whether Cleveland is the right city for you.
This peachy place has a range of options for various budgets.
As the bustling capital of Georgia and a vibrant economic hub in the southeastern United States, Atlanta offers an enticing blend of diverse cultures, job opportunities and recreational activities. However, beneath its allure lies a critical aspect that significantly impacts residents and newcomers alike: the cost of living.
From housing and transportation to healthcare and entertainment, understanding the factors that influence the way we live is essential for anyone considering calling Atlanta home or simply exploring this captivating metropolis.
1. Housing costs and utilities in Atlanta
Arguably one of Atlanta‘s best qualities is its range of housing costs without compromising proximity to the city. From charming suburban neighborhoods with affordable homes to trendy urban lofts and condos, Atlanta offers a diverse housing market to suit various budgets and lifestyles.
Center City Atlanta apartments range from studios for around $1,713 to two bedrooms going for $2,555. However, residents can find their perfect home while enjoying the convenience of living close to the city’s vibrant amenities and opportunities in nearby suburbs. We’ll break down three popular suburban neighborhoods surrounding Atlanta and the cost to live in each.
Alpharetta
Alpharetta is a vibrant and affluent city located in Fulton County, Georgia. Situated approximately 25 miles north of downtown Atlanta, Alpharetta’s historic downtown area exudes small-town charm, featuring a blend of boutique shops, restaurants and cultural venues, creating a lively and inviting atmosphere. For single renters, the average studio price is $1,770 while a one-bedroom will run you closer to $2,096.
Decatur
For $940 for a studio to $1,537 for a two-bedroom, there are plenty of options to go around in this cute suburb. Located just six miles east of downtown Atlanta, Decatur is a charming and historic city known for its vibrant community and welcoming, small-town atmosphere. With easy access to public transportation and major highways, Decatur provides an ideal balance of suburban tranquility and proximity to Atlanta.
Sandy Springs
With a commute to Atlanta being under 30 minutes, Sandy Springs ensures convenient access to big-city amenities while maintaining its distinct charm. A one-bedroom apartment in this area runs around $1,712, whereas a two-bedroom is averaging at $2,106. Sandy Springs is home to a diverse array of restaurants, shops and art galleries, making it a fantastic suburban spot near Atlanta.
Utilities in Atlanta
The cost of utilities like electricity, heating, cooling, water and garbage collection can average around $150 to $200 per month. This will vary depending on your area and individual usage rates. The good news is, this is 14% lower than the national average cost of utilities.
2. Food costs and goods and services in Atlanta
The main character of the food scene in Atlanta is Southern cuisine. Traditional Southern dishes, such as fried chicken, collard greens, biscuits and gravy and shrimp and grits are must-try. Southern restaurants and diners are staples throughout the city and showcase the rich culinary heritage of the region. Along with southern food, Atlanta has a lot of farm-to-table restaurants, international cuisine spots and food trucks. You’ll be sure to taste new cuisines and indulge in rich Southern classics for the average price of $18 ($80 for a nicer, three-course meal).
When you’re not eating out, groceries and farmer’s markets are available all around the city. Groceries in Atlanta are 7% lower than the national average, making eating at home a great alternative. To offer more insight, you’ll pay less for certain staples like milk ($3.84 for a gallon), eggs ($4.56 for a dozen), bread ($2.81 for a 24-ounce loaf) and ground beef ($6.64 per pound).
Commodities and entertainment costs
Aside from dining costs, don’t forget to budget for goods and services. While these expenses are flexible and not always necessary, it’s good to know these costs for the occasional treat or fun outing.
Some of these expenses include things like a movie ticket ($20.83), dry cleaning, haircut ($30) and an average monthly gym membership ($10 a month).
3. Transportation costs in Atlanta
Atlanta is famously known for traffic at all times of the day. Between the famous spaghetti junction and the number of commuting drivers, you’re guaranteed some traffic frustration. However, the MARTA transit system and express lane Peach Pass help alleviate congestion. Because of this, transportation expenses are slightly higher than the national average by 3%.
Any person confident in their city-driving skills who decides to use a car to get around can expect to pay to park for around $13. Parking can range from as little as $7 to as much as $30 based on where you’re parking and the length of the spot reservation.
Not interested in paying for parking? The MARTA transit system is a great option for commuters or those looking to get around while avoiding traffic and paying a little less. A one-way trip is $2.50 while a pass will range anywhere from $9 to $90 depending on usage amount.
If you’re okay with paying for parking but are hoping to avoid traffic, the Peach Pass offers a solution through a specified lane for pass holders and lower toll fees. Starting at $20, peach pass holders can use lanes to bypass traffic along interstates that are within some of the most congested corridors in metro Atlanta.
4. Healthcare costs in Atlanta
It’s of utmost importance, especially for more compromised individuals, to understand the healthcare costs in a city they’re vying to live in. Atlanta is home to world-renowned healthcare establishments, making it 7% higher than the national average. We’ve pulled common healthcare appointments (for you and your furry friend) and their average cost in the capital of the peach state.
Doctor visit: $133.65
Dental checkup: $115.31
RX drug cost: $492.45
Vet visit: $62.31
It’s important to note that these costs look different for everyone. Everybody has different needs and healthcare routines vary. As a result, you should consider these prices in tandem with your medicine regimens, healthcare routines and insurance coverage.
5. Taxes in Atlanta
Taxes aren’t the most exciting topic to cover when it comes time to prepare a budget. The minimum combined 2023 sales tax rate for Atlanta, Georgia is 8.9%. However, neighboring cities, where you may go shopping, can vary.
Unique perks of living in Atlanta
Like any city, they’re are unique perks that make the cost of living worth it to certain individuals. Atlanta is no different, with opportunities for personal and professional growth.
Sports
Sports enthusiasts will also enjoy the presence of major league teams like the Atlanta Falcons (NFL), Atlanta Braves (MLB) and Atlanta Hawks (NBA). The costs of these tickets depend on the matchup with average prices ranging from $20 (Braves) to $70 (Falcons).
Educational opportunities
Those interested in furthering their education or living near educational institutions will enjoy the city’s proximity to such locations. Atlanta is home to several renowned universities and colleges, including Georgia Institute of Technology (Georgia Tech) and Emory University. With easy commuting opportunities and cheaper instate tuition, this creates great personal growth opportunities.
Festivals and events
The city hosts a range of festivals and events throughout the year, celebrating music, arts, culture and more. Music Midtown, hosted in Piedmont Park, is one of the many social opportunities available to Atlanta residents and runs about $400 in total for the 3-day event. Another example is Porch Fest, a local parade that celebrates music, art and food. This is a free event that takes place in the Virginia Highlands suburb of Atlanta.
How much do I need to earn to live in Atlanta?
You would need a job that pays at least $79,280 per year to afford a one-bedroom apartment in Atlanta, which runs around $1,982. That is assuming you follow the general recommendation of allocating 30 percent of your annual income to rent.
For calculating specifics regarding your individual living preferences, use our rent calculator can show you exactly how much you can afford and help you target specific areas within your budget.
Living in Atlanta
The capital of the Peach State is a growing city for a reason, it has so much to offer its residents from southern hospitality to growth opportunities. Of course, choosing to plant roots down in this city depends a lot on budget. Determine what you can afford and make your move to ATL today!
Darren Dreifort, the former Major League Baseball pitcher for the Los Angeles Dodgers is ready to part ways with his house in the coveted Pacific Palisades health issues, is married to former sports journalist Krystal Fernandez. The two have been living in the Pacific Palisades abode ever since they got married in 2010, and this is the first time the property is on the market since they purchased it 14 years ago for $3 million, public records show.
Now, the 7,698-square-foot, 3-level home landed on the market with an $8.5 million price tag (Adam Jaret and Ally Jaret with Compass hold the listing) — and we’re here to give you a quick tour of the lovely family home.
Set just a block away from Asilomar Beach and State Park (also known as Monterey Peninsula’s “Refuge by the Sea”), Dreitfort’s house sits on a prime corner lot in El Medio Bluffs — a seaside hamlet that’s often touted as a “bespoke coastal village”.
With 7 bedrooms, 8 bathrooms (7 full and 1 half-bath), the property has 7,698 square feet of living space spread across three floors.
The main floor has an office, a bedroom with an en-suite bathroom, formal living, dining room, family room with fireplace, and a spectacular kitchen with a huge island and generously-sized casual dining banquette — that looks like the perfect gathering place for the whole family.
The top floor features the primary suite and 3 more large bedrooms with en-suite bathrooms, one more inviting than the next.
There’s even more space on the lower level (which has its own separate entrance), where we find 2 more bedroom suites, a kitchen, yoga/ fitness studio, media/ game room and tons of storage.
“Located a half block away from the El Medio bluffs, this 7,700-square-foot California coastal residence boasts an open living space, game room, home theater, gym, and yoga studio, along with an expansive rooftop deck with ocean and mountain views, large backyard, fitness pool and basketball court – perfect for the quintessential Pailsadian family,” listing agent Adam Jaret told us in an email.
Darren Dreifort’s house is located in one of Los Angeles’ priciest and most desirable neighborhoods, Pacific Palisades. Set on the city’s southern bluffs, this affluent neighborhood is known for its beautiful canyons and stunning beaches, its vibrant “downtown” center (The Village), and its proximity to Malibu and Santa Monica.
“The market is still strong for Pacific Palisades, and we anticipate a quick sale due to low inventory and high demand in the neighborhood,” Jaret added.
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Located on the western coast of Florida along the Gulf of Mexico, Tampa is a modern city steeped in history. The city is known for its warm climate, beautiful beaches, and vibrant cultural scene, meaning there are hundreds of reasons to make it your new home. Whether you’re seeking year-round sunshine, outdoor adventures, or a diverse culinary experience, this city has something for everyone and offers world-class options for living, working, and playing. But is the area right for you?
If you’re looking at homes for sale in Tampa or are just curious about what the area has to offer, this Redfin guide is for you. To give you a taste, here are 7reasons to move to Tampa, FL.
1. Affordable cost of living
The cost of living in Tampa is lower than many other US cities, especially when compared to nearby cities like Miami and Orlando. Housing costs, in particular, are much lower than other Florida cities. For example, the median sale price in Tampa is $441,000, compared to $590,000 in Miami and $522,000 in Fort Lauderdale. Apartments in Tampa are also much cheaper than nearby areas, with the average unit costing around $1,540, compared to nearly $2,800 in Miami and $1,820 in Orlando.
2. Pleasant climate
A great reason to move to Tampa is its climate. The city boasts a pleasant subtropical climate with mild winters and plenty of sunshine year-round. If you enjoy warm weather, Tampa’s average temperature of 73 degrees Fahrenheit (23 degrees Celsius) may be ideal for you. However, it’s important to note that summers can be very hot and humid, with temperatures reaching into the 90s and even 100. And, in the next 30 years, heat waves will become more common and extreme. Winter temperatures, on the other hand, are some of the nicest in the country.
3. Beautiful beaches
Tampa is surrounded by stunning beaches along the Gulf of Mexico. Clearwater Beach and St. Pete Beach are renowned around the world for their pristine white sand, clear turquoise waters, and breathtaking sunsets. There are also luxurious resorts and other attractions perfect for any day and mood. Living in Tampa gives you easy access to these and dozens of other coastal paradises just an hour away.
4. Outdoor activities
With its favorable climate and unique environment, Tampa offers a wide range of outdoor activities. From boating, fishing, and kayaking, to hiking, biking, and golfing, there’s something for everyone. Consider renting a kayak or bike at Sharkey’s or going on a fishing adventure with Shallow Point Charters. If you’re in the mood for a longer trip, visit one of several picturesque parks and nature reserves, such as Everglades National Park or the Green Swamp Wilderness Preserve.
5. Cultural scene
Tampa has a vibrant cultural scene with numerous art galleries, museums, theaters, and performance venues. The Tampa Museum of Art, the Straz Center for the Performing Arts, and the Florida Museum of Photographic Arts are just a few of the cultural attractions the city has to offer.
The city also hosts numerous events and celebrations, such as Summer Nights at Busch Gardens and the Gasparilla Parade. No matter your mood, you’ll find something to love.
6. Sporting events
Tampa is a city passionate about sports. The area is home to three major professional teams: the Tampa Bay Buccaneers (NFL), the Tampa Bay Lightning (NHL), and the Tampa Bay Rays (MLB). The city has also hosted many major sporting events, such as the Super Bowl and the NHL all-star game.
The city is also home to the Tampa Mayhem in the USA Rugby League and the Tampa Bay Cannons in the AUDL (ultimate frisbee).
7. Culinary delights
Tampa offers a diverse and vibrant culinary scene with a wide range of dining options. From fresh seafood and farm-to-table restaurants to international cuisine and food festivals, food lovers will find an abundance of flavors to explore. Consider visiting Ulele for Native American fusion, or Oak & Ola for modern takes on American classics. There are also options for more casual dining located around the city, such as Coco’s Food Truck and Westchase BBQ.
One of the largest nonbank mortgage lenders in the country is loanDepot, typically landing on the top-10 list overall year after year.
In fact, they’ve even cracked the top five in some years as well, so they’re certainly a big time player in the mortgage world.
At one time, they were even the subject of speculation that they’d be acquired by mega retailer Amazon in its effort to enter the mortgage business.
And in early 2021, they became the Official Mortgage Provider of Major League Baseball (MLB). So expect to see their name and brand around a lot more this year.
Let’s get some history on loanDepot and determine if they’re a good fit for your home loan needs.
Table of Contents
– loanDepot Fast Facts – How to Apply at loanDepot – mello smartloan technology – What Loan Types Do They Offer? – loanDepot Lifetime Guarantee – loanDepot Mortgage Rates – loanDepot Reviews – loanDepot Pros and Cons – loanDepot vs. Rocket Mortgage
loanDepot Launched in 2010
Direct mortgage lender that offers home purchase and refinance loans
Founded in 2010, headquartered in Foothill Ranch, CA
Offers industry’s first end-to-end digital mortgage
Ranked 2nd largest nonbank lender and a top-10 retail mortgage lender
Also the 8th largest VA lender in the country
Over 200 retail branches nationwide and growing
Went public in early 2021 under ticker symbol NYSE:LDI
Despite being a very young company, Foothill Ranch, CA-based direct lender loanDepot has funded more than $300 billion in consumer loans since 2010.
In 2021 alone they funded over $137 billion in home loans, which speaks to their massive growth.
They are led by industry veteran Anthony Hsieh, their CEO and chairman who previously worked at LoansDirect.com, E*TRADE Mortgage, and LendingTree.
The company refers to themselves as the nation’s fifth largest retail mortgage originator, and second largest nonbank consumer lender in the country (Quicken Loans is first).
They employ some 6,400 team members, including 2,000+ licensed loan officers, across 200+ branch locations nationwide.
In 2015, loanDepot began offering personal loans as well, which do not rely on collateral such as real estate.
In recent years, they’ve also launched several joint ventures with home builders and real estate brokerages to expand their purchase loan business.
Their latest is LGI Mortgage Solutions, a partnership with LGI Homes, Inc. that will serve customers in Arizona, Colorado, and Florida.
A prior one is named Farm Bureau Mortgage, a JV with Farm Bureau Bank that will serve homeowners in America’s Heartland.
They also recently launched Henlopen Mortgage, a partnership with Schell Brothers, a premier home builder.
Previously, they created BRP Home Mortgage, a collaboration between loanDepot and Brookfield Residential Properties Inc.
Lastly, loanDepot partnered with iBuyer OfferPad to create OfferPad Home Loans in late 2017.
In November 2020, they announced plans to go public after lots of speculation, and in early 2021 were trading under the NYSE ticker symbol LDI.
At last glance, the mortgage lender had a valuation of about $2 billion.
How to Apply for a Mortgage at loanDepot
You can apply online via a digital mortgage process from their website in minutes
Those who prefer a face-to-face meeting can visit one of their many retail branches
Or you can call them directly and deal with someone over the phone
They also have a wholesale lending division that works with brokers
In terms of applying for a loan, you can visit one of their 150+ branches nationwide, or call a representative at a branch near you. Some folks may still prefer a face-to-face sit down.
Their website features a search by branch or by loan officer if you’re looking for some place or someone specific, similar to the process over at New American Funding.
You can also start the process online at their website by hitting the “apply now” button. It will ask you if you’re currently working with anybody at loanDepot to ensure you are connected to the right person.
They also have a major wholesale division available in 46 states and the District of Columbia, meaning it’s possible to get a mortgage from loanDepot via a mortgage broker as well.
loanDepot Is Big on Technology
Company employs their proprietary mello smartloan technology
Uses data verification to digitally connect income, employment, and asset information
Fully digital experience from application through closing
Can shave 17 days off loan process and get you to clear-to-close in 8 days
In early 2019, loanDepot released its mello smartloan technology, which it bills as “the smarter way to mortgage.”
Instead of having to gather lots of financial paperwork and upload it to the lender’s website, mello allows you to digitally connect income, employment, and asset information.
This makes it both fast and secure— and once connected, their proprietary loan engines will determine the best loan options available, similar to the tech over at Rocket Mortgage.
You can also lean on their “expert loan consultants” if you need assistance in making a choice.
While the digital mortgage and data verification isn’t entirely novel or unique to loanDepot, they say mello smartloan is the “first-of-its-kind end-to-end digital home loan.”
That’s because it’s a fully digital experience from application through closing, not just part of the way.
For example, it comes with mello smartdecision, which instantly determines if you can qualify for an appraisal waiver, just minutes after submitting your online application.
Altogether, they believe mello smartloan can shave up to 17 days off the closing process and get you cleared to close in as little as eight days. That’s pretty fast.
Adjustable-rate mortgages: 3/1, 5/1, 7/1 and 10/1 ARMs
Jumbo loans: Borrow up to $2 million
Government loans: FHA and VA loans
Home equity loans: up to 90% of home value
Like most large mortgage lenders, they offer home refinance loans, home purchase loans, and home equity loans.
That includes both rate and term refinances and cash out refinances, the latter useful if you want to tap equity and get a new interest rate on your mortgage.
They offer both conventional and government loans, including FHA loans and VA loans, but notably absent are USDA home loans.
Additionally, you can get a home equity loan or a renovation loan (FHA 203k loan).
And as noted, they also offer personal loans, which are funded by Cross River Bank, an FDIC-insured New Jersey commercial bank.
With regard to loan type, they offer all the usual stuff like fixed-rate mortgages and ARMs, in common varieties.
loanDepot Lifetime Guarantee
Only pay lender fees the first time you get a mortgage with loanDepot
They waive the fees when you refinance your original home loan
And reimburse the home appraisal fee as well
Must apply directly with loanDepot to qualify
If you get home loan financing from loanDepot once, you won’t have to pay lender fees if you use them again, for life.
With the loanDepot Lifetime Guarantee, they waive lender fees and reimburse your home appraisal fee when you refinance your existing loan with loanDepot in the future.
They say the average homeowner will refinance their mortgage every seven years, which they break down as four times over the span of a 30-year mortgage, and twice over a 15-year mortgage.
The guarantee doesn’t apply to loans obtained to purchase a new property, home equity loans, renovation loans, bond loan programs, down payment assistance programs, or personal loans.
Additionally, the guarantee only works if you submit your application directly to loanDepot (no wholesale or third-party applying such as through LendingTree).
Finally, for guarantees issued on/after January 1st, 2019, you must wait 12 calendar months from the date issued.
loanDepot Mortgage Rates
Unfortunately, loanDepot does not openly advertise their mortgage rates like some other mortgage lenders.
This makes it very difficult to know where they stand price-wise relative to other mortgage companies.
Additionally, they don’t mention any of their lender fees on their website, further complicating the whole shopping around process.
However, mortgage rate quotes are available by phone or online if you fill out an application.
Once you get a quote, you may want to compare it to other mortgage companies. This may be the only way to comparison shop because their rates/fees aren’t openly advertised.
Be sure to consider other banks, nonbanks, credit unions, and independent mortgage brokers.
100% of Loan Servicing Is Now In-House
In late February 2023, loanDepot said it migrated 100% of the mortgage loans serviced by its third-party sub-servicer to its in-house platform.
The move move is part of loanDepot’s Vision 2025 strategy that aims to eliminate mortgage sub-servicing costs and reduce third-party vendor spending.
This allows the company to improve its brand affinity and tap into its existing client base more easily.
For example, they can market products and services (such as a refinance opportunity) to their existing customers more easily.
Perhaps more importantly, it gives them full control of the “entire customer journey” to ensure they can provide a consistent experience from start to finish and beyond.
At last glance, they have loan aervicing centers in Chicago, Illinois and Neward, New Jersey.
loanDepot Reviews
On Zillow, the company has a very impressive 4.88-star rating out of 5 from more than 4,700 customer reviews, which says a lot about their consistency.
Many of the recent reviews indicated that the interest rate was lower than expected, a good sign if you’re looking for a low-cost mortgage.
Over at LendingTree, they have a slightly lower 4.3-star rating out of 5 from about 4,500 reviews, which while not as strong as the Zillow rating, is still considered great.
Additionally, the company is recommended by 86% of those who reviewed them on LendingTree.
loanDepot has a less impressive 3.6-star rating on Trustpilot from over 3,000 customer reviews, some of which you want to read to get a better idea about customer service.
The good news is they have an ‘A+’ rating on the Better Business Bureau website, and are an accredited company. So they should handle any customer complaints professionally.
loanDepot Pros and Cons
The Good
Tons of digital technology to make loan closings fast
Waives lender fees on subsequent refinance transactions
Has retail branches if you prefer to meet in person
Licensed in all 50 states and DC
‘A+’ rating with the Better Business Bureau
Mostly positive customer reviews
The Potential Bad
Don’t let you view mortgage rates without calling them or filling out a form
Don’t offer USDA loans
Doesn’t publish lender fees (unclear if high or low)
High closing costs seem to be a common complaint among reviews
loanDepot vs. Rocket Mortgage
loanDepot
Rocket Mortgage
Digital application
Yes
Yes
Branch locations
Yes
No
Loan types offered
Conventional, FHA, VA, jumbo
Conventional, FHA, VA, jumbo
Minimum FICO score
580
580
Will service your loan?
Yes
Yes
Loyalty program
Yes
Yes
Licensed to do business in…
All 50 states and D.C.
All 50 states and D.C.
BBB rating
A+
A+
Zillow rating
4.88/5 from 4,700 reviews
4.48/5 from 7900 reviews
loanDepot ranks #7th nationally in terms of overall home loan volume, while Rocket Mortgage is #1 in the country.
Last year, loanDepot funded just over $100 billion and Rocket originated a whopping $314 billion.
So while both are very large mortgage companies, Rocket does about triple the business.
However, loanDepot CEO Anthony Hsieh is intent on catching up and taking the top spot eventually.
One distinction between the two is that loanDepot has 200 branch locations, while Rocket simply operates a massive mortgage call center.
This means you can apply in-person with loanDepot, but not with Rocket.
Other than that, they both offer the latest digital mortgage technology, and the same loan programs.
But loanDepot offers a Lifetime Guarantee in which you won’t pay lender fees again if you refinance with them in the future. Rocket doesn’t have a loyalty program.
Lastly, both are accredited with the Better Business Bureau (BBB) and have A+ ratings. loanDepot edges Rocket with a higher Zillow rating though.
Some may joke that “Atlanta is full,” but that’s due to the recent influx of transplants around the country. Recently, Money named Atlanta the best place to live in the U.S. in 2022, so it’s not hard to understand why everyone flew south.
People are starting to notice the Georgia capital as a gem in the region. Steady job growth? You got it. Excellent live music and food? Yes, of course. There are many reasons why you’ll love living in Atlanta. The city knows how to capture the hearts of every visitor since the city is as versatile as it is beautiful. There’s a place for everyone here.
Here are 15 reasons to move to Atlanta.
1. There are plenty of green spaces
Atlanta is a city in a forest, no doubt. The tree canopy around the city will take you by surprise. It’s not just tree-lined streets. There are parks around every corner, shaded sidewalks and the trees embrace even the highway.
Nature is always nearby, with Piedmont Park being smack dab in the middle of Midtown Atlanta. Around the city, you can find walking trails like the Morningside Nature Preserve and Westside Park, or if you’re into kayaking, the Chattahoochee River National Recreation Area.
2. The mild weather is glorious
Winters in Atlanta are very mild, with infrequent snowfall. Bundling up, you can enjoy walks around the city and beat those winter blues without freezing. Additionally, on average, Atlanta gets 217 sunny days a year, and a lot of those are in winter.
Spring is unpredictable, with a few storms. But, the resulting blooms around town are worth the sneeze. The summers get hot and humid (its nickname is “Hotlanta” after all), but there are plenty of patios and spots to cool off, like city pools, the Chattahoochee River and Lake Lanier.
3. It’s truly one of the best food cities
Another reason to love Atlanta is the diversity of dining options within the city. Emerging chefs have set up pop-ups around the city to deliver creative offerings. Restaurants like Georgia Boy, Little Bear and Talat Market are pushing the envelope in the fine dining scene.
You can also find delicious seafood fare at Tio Lucho’s, Atlanta Fishmonger and Kimball House. The bar scene is growing, as well. Food halls, including Ponce City Market, have many options, from Szechuan to Italian to Cuban, all under one roof.
4. Southern hospitality is alive and well
Locals in Atlanta are incredibly warm and inviting. Atlanta is a big city with a small-town heart. Everyone truly knows each other, and you’ll get introduced to a handful of people anywhere you go. It’s easy to make friends and network for work.
The Southern hospitality shows up in friendly hellos everywhere you go and during parties and bars around town. You won’t encounter a stranger here.
5. Arts and culture are everywhere in the city
From the Atlanta Symphony Orchestra to the High Museum of Art to MODA, Atlanta has a thriving arts culture. Local art nonprofits create programs for families and children to boast their knowledge of the arts, music and more. Nonprofits like Living Walls beautify the city by bringing local and abroad artists to create murals around the city.
Other attractions in Atlanta that bring unexpected doses of culture are the Georgia Aquarium, the Center for Puppetry Arts and Zoo Atlanta.
6. Neighborhoods with different personalities
Every neighborhood in Atlanta has its own personality. Family-friendly Candler Park has beautiful tree-lined streets, playgrounds and family restaurants. While Little Five Points reaches a younger demographic with vintage stores, metal bars and new-age stores.
In East Atlanta, you can find nightlife and more millennial-leaning restaurants like Argosy and Banshee. On the Westside, you can find a higher concentration of rooftop bars, fine dining and spots like Ormby’s and The Painted Pin that offer games with food.
7. Access to food from many countries
Buford Highway, a state highway in Atlanta, is a place that just doesn’t exist anywhere else. Immigrant populations started settling along Buford Highway decades ago. Now, there are shopping centers filled with food from all over the world, from Korean to Mexican, Colombian, Chinese and more.
Cultural events also occur in one of the many event spaces in the area. It’s a great place to learn about other cultures and enjoy delicious food.
8. Live music and concerts 24/7
The city that gave you Usher, TLC, Outkast and the Indigo Girls — you can’t go wrong here. The Tabernacle, Variety Playhouse, Coca-Cola Roxy, Buckhead Theatre and The Earl bring all the popular acts to the stage and offer different levels of intimacy for the audience.
You’ll find free concerts at parks around the city and, of course, the world’s biggest stars rocking out at Mercedes-Benz Stadium. An obvious reason to fall in love with Atlanta.
9. Biking the Atlanta BeltLine
The Atlanta BeltLine, a network of multi-use trails, connects the city’s 45 in-town neighborhoods. You’ll find shops, restaurants, breweries and more along the BeltLine.
Each stretch also has a different feel depending on the neighborhood you’re passing. Get a bike or walk it with coffee in hand to enjoy Atlanta’s weather. It’s a great way to explore the city and how it has changed.
10. A mountain escape is just 90 minutes away
Sometimes, you need a break, right? Luckily, the Blue Ridge mountains are just 90 minutes from Atlanta. You can visit Ellijay and Blue Ridge for a quick 48-hour rejuvenating trip to the mountains.
Go apple picking, hike waterfalls, make a fire at your cabin or enjoy the view from a hot tub. The small town also has kitschy shops that are fun to visit and, of course, very good barbecue.
11. A thriving sports culture
Pick your sport — baseball, soccer, basketball or football. Atlanta’s got a fierce fan club for the Atlanta Braves (MLB), the Atlanta Falcons (NFL), the Atlanta Hawks (NBA) and Atlanta United (MLS).
If you’re into college football, both Georgia State University and Georgia Tech have excellent football teams that make home games an enjoyable time.
12. Atlanta is incredibly diverse
More than half of the city’s population identifies as Black, making it one of the largest majority-Black metro areas. It also takes the prize for the second friendliest city for those in the LGBTQ+ community, with an annual Pride Festival in October.
The city also hosts a large immigrant population from Latin America, Asia and Europe, about 14 percent of the total population. Between 2000 and 2010, metro Atlanta’s Latino population doubled.
13. Growing tech scene and job market
There’s a growing number of accelerators, incubators, venture capital firms and events like Atlanta Innovation Week and Venture Atlanta that together fuel a thriving start-up culture.
Headquarters for Microsoft, NCR, Alphabet’s Google and others have cemented their footprint in the city with new offices. The Atlanta Tech Village in Buckhead houses more than 600 startups and continues to nurture emerging founders through networking.
And, don’t forget that it’s home to Fortune 500 companies like Coca-Cola, UPS, Home Depot and Delta Air Lines.
14. There’s rich history around every corner
The Historic Auburn district, the National Center for Civil and Human Rights and the Martin Luther King, Jr. National Historic site offer insights into Atlanta’s robust history and key role during the Civil Rights era.
At the Atlanta History Center, you can learn more about Atlanta’s role in the Civil War through its exhibitions and the Cyclorama, one of the only ones left in the country. Markers around the city also show important battles. In Oakland Cemetery, you can see those fallen during past times.
15. The airport puts the world at your fingertips
The hype around the Atlanta airport is real. Busiest? Definitely. But, as an Atlanta local, you’ll also see it’s one of the most efficient in the world. The airport sees more than 100 million passengers a year.
As a Delta hub, you have the world at your fingertips with a direct flight to many destinations around the world. Don’t miss the many art installations by local artists in the terminals, including a crowd-favorite on Concourse C.
Thinking of moving to Atlanta?
You’ll undoubtedly love Atlanta as much as the locals do once you spend some time in town. From its food and history to its culture and sports teams, there are truly so many reasons to love Atlanta with something for everyone in one of its 45 in-town neighborhoods. Are you ready to make a move to Atlanta?
Tampa, Florida, known as “The Big Guava” to locals, is a historic city in the greater Tampa Bay Metropolitan area, which consists of Tampa, St. Petersburg, and Clearwater. Originally a small town, the cigar industry helped put Tampa on the map. In the past few decades, the area has seen significant growth and has become known for its lovely beaches, rich history, and lively sports scenes. But is Tampa a good place to live? Luckily, we’ve got you covered.
If you’re looking at homes for sale in Tampa or apartments for rent and are considering making the move, this Redfin article is for you. We’ll dive into 10 pros and cons of living in Tampa to help you decide if the city is right for you.
5 pros of living in Tampa, FL
There’s a lot to love about living in Tampa, from pristine beaches to lively sporting events. Here are five of the best reasons to make the move.
1. Affordable cost of living
The cost of living in Tampa is relatively affordable,especially compared to other cities in Florida. Tampa’s housing costs, in particular, are cheaper than nearby cities and on par with the national average. For example, the median sale price of a house in Tampa is $425,900, compared to $560,000 in Miami and $550,000 in Fort Lauderdale. This helps make Tampa an attractive option for those looking for an affordable place to live in Florida near the coast.
If you’re looking to rent an apartment in Tampa, the average rent is $1,543 – which is just slightly above the national average.
2. Weather
Tampa’s climate is subtropical, which means mild, dry winters and hot, humid summers. Daily high temperatures rarely drop below 70 degrees Fahrenheit in the winter or rise above 100 degrees in the summer. If you prefer warm weather and year-round sun, Tampa’s climate will be perfect for you. This is especially true for those seeking refuge from colder northern climates.
3. Outdoor activities
Tampa’s location on the Gulf Coast of Florida means it has numerous beautiful beaches and coastal trails, including Clearwater Beach, Fort de Soto Park, and Archibald Beach Park. It also boasts many state parks and nature reserves, and is only a few hours from Everglades National Park. The bay and nearby rivers also provide ample opportunity for water sports such as boating, kayaking, and fishing.
4. Sports
Tampa is a sports lover’s paradise. It’s home to three major professional sports teams: the Buccaneers in the NFL, the Rays in MLB, and the Lightning in the NHL. Tampa also hosts the Outback Bowl for college football, has numerous golf courses and fishing spots, and is a haven for cyclists and runners looking for flat training days.
5. Community events
Tampa has a rich culture, making for a wide array of celebrations, events, and community get-togethers. There are dozens of popular annual events, many of which take place in the pleasant winter months. Some notable examples include the Gasparilla Pirate Fest, the Florida State Fair, Tampa Pride, and Winter Village.
5 cons of living in Tampa, FL
Like with any city, there are downsides of living in Tampa. Here are five to keep in mind.
1. Hurricanes
As a part of Florida, Tampa is susceptible to hurricanes, which are possible from June through November every year. These natural disasters can cause significant damage to property and disrupt daily life when they hit. If you do move to Tampa, make sure you prepare your home for a hurricane and understand your local building codes, evacuation routes, and emergency procedures.
2. Heat and humidity
While the warm weather is appealing to many, the intense heat and humidity of the summer months can be a drawback. It’s not uncommon for temperatures to reach into the high 90s with high humidity levels from June through August, with plenty of rainfall as well.
3. Traffic
As Tampa continues to grow, traffic congestion has become a more significant problem. In fact, it has some of the worst traffic in the US, and in 2022 was the 201st most congested metropolitan area. This is most notable during the morning and evening rush hours, and can add considerable time to commutes.
4. Bugs and wildlife
Florida’s warm and subtropical climate makes it home to a variety of bugs, including mosquitoes, palmetto bugs, and termites, which can wreak havoc on buildings and be an annoyance from day to day. Additionally, Florida is home to numerous unique animals, including the American alligator, Florida panther, and dozens of dangerous aquatic species.
5. Flat landscape
Tampa, like much of Florida, is very flat. In fact, Florida is the flattest state in the US, with the highest point sitting at just 345 feet above sea level. While this may not be an issue for some, if you enjoy hiking, mountain biking, and other mountainous outdoor activities, you will likely be disappointed.
The bottom line: Is Tampa a good place to live?
Living in Tampa has its share of pros and cons. The city offers an affordable cost of living, a vibrant cultural scene, along with pleasant weather and more. However, take into account factors like high humidity, hurricanes, flooding, and traffic congestion. In the end, the decision to call Tampa home depends on what matters to you.
It’s almost time for Dodger baseball. You’re rolling west along Sunset Boulevard, visions of Mookie Betts and Clayton Kershaw and Julio Urías happily dancing through your mind.
You’re one block from turning onto Vin Scully Avenue and into Dodger Stadium when you notice a black billboard, looming ominously above an auto repair shop called Fernando’s Tires. The billboard features this name, in bright white letters: Frank McCourt.
That guy?
Yes, that guy, the one who traded two Boston parking lots and what one of his attorneys said was “not a penny” of his own cash for ownership of the Dodgers. Yes, the one who dragged the storied team into bankruptcy amid Major League Baseball allegations he had “looted” $189 million from team revenues for personal use. And, yes, the one who laughed all the way to the bank, selling the Dodgers for a billion-dollar profit in 2012.
He did not, however, sell the parking lots that surround the stadium. In 2018, he pitched a gondola that would transport fans from Union Station to Dodger Stadium.
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Five years later, the proposal is still alive, now shepherded by an environmental organization delighted at the prospect of the gondola taking cars off the streets and keeping pollutants out of the air. That Sunset Boulevard billboard and others like it are brought to you by opponents of the gondola, taking aim at the project in part by relentlessly associating it with McCourt.
The Dodgers are guaranteed to play 81 games at Dodger Stadium every year, with playoff games traditionally added in October and concert dates sprinkled throughout the year. That leaves skeptics within the community to wonder why McCourt would promote a gondola ride to a stadium parking lot that would be empty three out of every four days during the year.
Unless, of course, the lot would not be empty.
McCourt’s company, now known as McCourt Global, highlights this slogan: “Building for tomorrow.” McCourt did not sell the Dodger Stadium parking lots because he anticipated building something there, some day.
What might that be? And is the gondola intended to carry us to that day?
The pursuit of those answers took me to Dodger Stadium, to City Hall and to a meeting of MLB owners. First, however, I stopped at a weathered red brick building in the Arts District, an old furniture and fabric warehouse reimagined as a laboratory for energy innovation.
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Three colorful banners greeted visitors, one with the hue of a bright blue sky. “Welcome,” that banner read, “to the Cleantech Future of Power and Water.”
The interior comes alive with vibrancy and urgency, and with work on dozens of concepts. Any one of them, building managers say, could emerge as “the next big idea to fight climate change.”
The Dodger Stadium gondola represents such an idea, according to its proponents. Climate Resolve, a nonprofit based in that building, agreed to take the reins from McCourt in leading the project.
“From my perspective,” said Climate Resolve founder and executive director Jonathan Parfrey, “to have a gondola transporting people from Union Station to Dodger Stadium, and to have that exciting, beautiful conveyance identified as a climate action?
“It changes the way people approach public transit. So it was very attractive to us.”
With baseball’s new hurry-up rules, you could miss half the game if you get stuck in Dodger Stadium’s oft-snarled traffic and get to your seat an hour after the first pitch.
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The gondola alternative: get to Union Station, hop aboard a spacious cabin that could arrive every 23 seconds, soar high above the city, and arrive at Dodger Stadium in seven minutes.
The climate benefit is easy to envision: fewer fans in cars powered by gasoline; more fans in gondolas powered by electricity.
A promotional video for the proposed Dodger Stadium gondola project released by Los Angeles Aerial Rapid Transit.
The climate downside is easy to envision too: massive development at Dodger Stadium, with neighborhood disruption for years of construction, and with cars converging upon the stadium every day, not just on game days.
“I’m involved in this project,” Parfrey said, “and I brought my organization into this project, predicated on there not being development on that land.”
Not now, or not ever?
“Not for the foreseeable future,” he said.
Parfrey said he had been given “assurances” that the gondola was not a first step toward Dodger Stadium development. I asked who had given him those assurances, or who I could ask to get those same assurances.
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“Ask Frank,” he said.
Near Lot G at Dodger Stadium, along the long slog from the outer reaches of the parking lots to a stadium entrance behind left field, a colorful model of a gondola cabin awaits you. You can step inside the 24-seat cabin, then imagine a ride that would allow you to skip traffic to the ballpark and instead, as the signage reads: “GET THERE BY AIR.”
You can even find a helpful decal, showing you where to stand to take a picture with the gondola cabin in the foreground and the stadium in the background.
The display of a model cabin takes a page from the playbook for pitching a new stadium or arena. Models and renderings can excite fans, but they also can obscure a critical question about any big project: Looks cool, but who is going to pay for this?
The cost of building the gondola was estimated at $300 million in 2020 and is expected to rise by the time a financing plan is finalized, said David Grannis of Point C Partners, a transportation and land use consultancy working with Climate Resolve.
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The McCourt entity that originated the gondola concept, LA Aerial Rapid Transit, has agreed to fund the approval process, including environmental studies and permit applications, project spokesman Nathan Click said. It is up to Climate Resolve to figure out how to pay for construction, as well as for annual operating costs Grannis estimated at between $5 million and $10 million.
The gondola won’t make money, at least not under the current plan of free rides for fans with a Dodgers ticket and neighborhood residents with a Metro pass.
Parfrey said taxpayers would not be asked to subsidize the gondola.
The hundreds of millions would come from private financing, Grannis said, and largely from sponsorships and the purchase of naming rights.
In 2012, the airline Emirates agreed to pay about $60 million for a 10-year sponsorship of a London gondola — then called the Emirates Air Line — that carried riders above the River Thames and cost $96 million. The current one-way adult fare on the London gondola is $7.50.
“In this case,” Grannis said, “you have a venue that happens to be the best attended in Major League Baseball, and therefore the iconic nature of this cabin flying to Dodger Stadium and taking you there is going to attract a lot of sponsors, a lot of people who want naming rights or sponsorship.
“That’s the big revenue.”
Jeff Marks, the founder and chief executive of Innovative Partnerships Group, brokers naming rights and sponsorship deals between companies and teams, leagues and venues. He said it “could be doable” to cover the cost of building and operating the gondola through corporate sponsorships, but he said even the most generous sponsor might not be willing to strike a nine-figure deal without exposure beyond simply slapping the company’s name on the side of the gondola.
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Marks, speaking generally because he is not involved in the project, said a title sponsor might also want a benefit such as the company name on the field. A hypothetical example: Verizon Field at Dodger Stadium. The Dodgers have hired firms to solicit corporate offers for naming rights to the field and patches on the team jerseys.
Or, Marks said, a primary sponsor might prefer naming rights to whatever development might rise atop the parking lots: Take the Verizon Gondola to the Verizon Village at Dodger Stadium!
Rick Caruso, the developer behind the Grove and Americana shopping and entertainment centers, pursued the Dodgers when McCourt put them up for sale. Caruso commissioned studies on how to improve the notorious congestion for cars getting into and out of the Dodger Stadium parking lots.
Without control of the lots, however, Caruso believed he might not have been able to implement any changes. McCourt insisted he would not sell the lots, and Caruso withdrew from the bidding.
Guggenheim Baseball Management, the winning bidder, took a different approach. Guggenheim, led by Mark Walter and Stan Kasten, bought the Dodgers and their stadium from McCourt. In a separate transaction, a Guggenheim entity formed a joint venture with a McCourt entity to control the parking lots.
In land use documents filed by the joint venture in 2012 and intended to “facilitate the orderly development” of the Dodger Stadium parking lots, the potential property uses cited include homes, offices, restaurants, shops, entertainment venues, medical and academic buildings, a separate sports facility and a hotel and exhibit hall.
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“It is an ill-conceived concept that the highest and best use of Chavez Ravine is 260 acres for parking,” an attorney for McCourt, Tony Natsis, said at the time. “I consider that to be an ill-conceived notion for the owner of the parking lots and the owner of the stadium.”
Walter, the Dodgers’ chairman and controlling owner, said McCourt cannot develop anything on the property without Guggenheim’s consent. What might Walter be thinking in terms of development now?
“I haven’t been thinking about it at all,” Walter said.
Kasten, the Dodgers’ president and chief executive, said the Dodgers support the gondola project but are “really not involved” in it. Walter had a simple explanation for why the Dodgers would back a project that would chew up a chunk of the parking lots in the stadium.
“Hopefully, it will make it easier for people to get there,” he said.
Of the 18,889 parking spaces at the stadium, the gondola station at Dodger Stadium would result in the loss of 194 spaces, according to the environmental impact report for the project.
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To the Dodgers, that would not be a big deal. But this might be: The report projects 10,000 people would ride the gondola to each game by 2042, which could translate to a loss of about 20% of parking revenue.
Kasten called those figures “hypotheticals that I don’t have an answer for,” and project opponents dismissed the ridership projections as unrealistically high, citing a UCLA study.
But a person familiar with the Dodgers’ business model, speaking on condition of anonymity so as not to jeopardize his professional relationships, said the team likely would not agree to give up millions in annual parking fees without some way to recoup that money.
“It does not make sense for the Dodgers to do it if they’re going to lose parking revenue,” the person said. “It does make sense if the gondola is serving a larger development.”
The California Endowment, a nonprofit with offices that would sit beneath the shadow of a 195-foot gondola tower, is leading and largely funding a coalition opposing the project. In court papers, the Endowment cited the Dodger Stadium development proposal McCourt unveiled when he owned the team and alleged the gondola would be “a loss leader for the future development of parking lots at Dodger Stadium.”
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What would Kasten say to Angelenos who would like to know whether the gondola comes first and development comes next?
“That’s a question you’ll have to address to someone else,” Kasten said.
To the people proposing the gondola?
“Yes,” Kasten said. “That’s where I would direct my questions.”
I had. And what had I been told? Ask Frank.
On April 9, 2021, for the first time in 32 years, the Dodgers raised a World Series championship banner. The Dodgers bestowed the honor of hoisting the treasured flag upon five people, including three of their own: Dodgers co-owners Magic Johnson and Billie Jean King, each decorated champions in their own right, and Hall of Fame broadcaster Jaime Jarrín.
The other two: Eric Garcetti, then the mayor of Los Angeles, and Gil Cedillo, then the city councilman representing the district that includes Dodger Stadium.
The Dodgers forged a strong working relationship with Cedillo. The team and nine of its senior executives combined to make $13,800 in campaign contributions to him from 2013 to ‘22, according to city records.
Cedillo lost his bid for re-election last year, defeated by community activist Eunisses Hernandez. Kasten and Hernandez each expressed a desire to work together for the benefit of the fans and the community.
Garcetti, who has backed the gondola from the time McCourt first pitched it five years ago, said the Dodgers never have hinted to him that mass development would be in the works at Dodger Stadium.
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“I think there is a vision of trying to make it less of a once- or twice-a-year kind of a place for a family, when you go to a game,” Garcetti said before he left office last December, “and more of an asset: the best view in L.A., a place for more special events, a place where baseball history can be celebrated.
“I think their core business is baseball, and they want to protect that.”
The environmental impact report does not contemplate development at Dodger Stadium. The report states “no housing units are proposed” as part of the project and “additional approvals requiring further environmental review would be necessary” for any development at the stadium or elsewhere along the gondola route.
For Hernandez, that language is not enough. The councilwoman said she has “a lot of concerns” about the gondola.
“I am not convinced that this is an effective solution to reducing vehicle congestion,” she said, “and I share the neighborhood’s concerns about displacement and disruption.”
Hernandez said she is not necessarily opposed to development at Dodger Stadium, provided affordable housing is a priority. She is opposed to considering the gondola on its own, without any consideration of whether development might follow and what it might involve.
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“I don’t think it’s appropriate to undertake such large-scale projects without a full and clear understanding of long-term plans,” Hernandez said. “This shouldn’t be piecemealed out, and I want to see additional development plans made clear.
“That is the honest approach, and that’s what will allow the community, the city, and all involved entities to make a clear-eyed decision.”
Steve Soboroff, who was the mayoral point man on the construction of Staples Center and later president of the Playa Vista development near LAX, worked briefly with McCourt in the final year of his Dodgers ownership.
Soboroff is not involved in the gondola project. He said the most effective way to build community support for the project would be to offer transparency about the long-term plan, even if the gondola would come first and any development would come later.
“That would be the path that I would choose,” Soboroff said.
It was time for me to do what Parfrey had suggested: Ask Frank.
The Dodgers have prospered without McCourt, and McCourt has prospered without the Dodgers.
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He bought the storied French soccer club Olympique de Marseille. He donated $200 million to what is now called the McCourt School of Public Policy at Georgetown University. He launched Project Liberty, an initiative to reform the Internet in the interest of serving “people, not platforms.”
As McCourt told Leaders Magazine: “Our technology today is great if you want to support autocracy, but it is not so great if you want to support individual rights and the freedoms and liberties assorted with democracy.”
McCourt still owns the Los Angeles Marathon, which starts at Dodger Stadium. During the past two months, as Urbanize LA reported, McCourt entities revealed plans to construct 502 apartments in three buildings on two sites along Stadium Way and another one block south, overlooking the 110 Freeway. The apartment buildings are planned regardless of whether the gondola is approved, said Brin Frazier, a spokeswoman for McCourt.
The applicant for the apartment projects is listed in city records as Jordan Lang, president of two McCourt entities: McCourt Partners Real Estate and Aerial Rapid Transit Technologies.
Lang’s company biography makes no mention of any experience in other transportation projects but touts his leadership in completing “millions of square feet of office, hotel, residential and mixed-use projects.”
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The prospect of developing such a large site on the outskirts of downtown is so rare that the city’s movers and shakers have floated concepts for decades. Caruso and I talked about some of them 18 years ago, long before McCourt put the team up for sale or Caruso ran unsuccessfully for mayor.
Peter O’Malley, the revered former Dodgers owner, proposed building an NFL stadium in the Dodger Stadium parking lot in 1995. McCourt revived the idea in 2005.
The other four MLB teams in California all have pursued mixed-use developments surrounding their ballparks. The Angels’ most recent proposal — since killed by the city of Anaheim amid a corruption scandal — would have included more than 5,000 homes on a site roughly half the size of the Dodger Stadium property.
“We need more housing,” Garcetti said. “We need it to be centrally located. We need it to be affordable. I think, if you meet those criteria, you can start a conversation with the city.”
Or, perhaps, development at Dodger Stadium could mean a selection of food halls, restaurants and bars, enticing enough to lure fans to arrive long before the game and stick around after it ends. That in itself could ease the neighborhood traffic bottlenecks on game days, gondola or no gondola.
Parfrey, who said his nonprofit agreed to take the lead on the gondola project based on what he said was a promise of no development on the land, said his organization would not support a ballpark neighborhood arising on the property but would support a plan to put a restaurant here and there within the parking lot.
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“We would go early and go to the restaurants,” Parfrey said.
Parfrey, remember, was the guy who told me to “ask Frank” about the “assurances” that the arrival of the gondola would not trigger development. I mentioned that to Frazier, McCourt’s spokeswoman, and asked if I could speak to him about that.
“Frank,” she said, “is not available.”
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A massive 17,602-square-foot home that sits on Highland Beach’s largest oceanfront lot has recently hit the market in Palm Beach County, Florida and has the potential to set a new real estate record.
The trophy property delivers over 150 feet of private manicured beachfront on nearly 2 acres in the ”Estate Section” of Byrd Beach, minutes away from Atlantic Avenue and Boca Raton.
It also sports a price tag worthy of its countless attributes: the mansion is listed for $59.9 million, making it the most expensive home for sale in Highland Beach and the priciest listing in the greater Boca Raton area.
If it sells anywhere near its asking price, the Ocean Blvd. property will become the most expensive home ever sold in the area.
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“This estate is one of the nicest houses in Highland Beach,” says Coldwell Banker Realty agent Jonathan Postma, who holds the listing. “It’s a trophy property that is becoming increasingly hard to find in Florida, especially with two acres and 150 feet of private ocean frontage.”
Interestingly enough, the previous record holder is this very property. The same Ocean Blvd. home sold in April 2022 for a whopping $45 million, a deal that marked the highest sale in the Highland Beach, Boca Raton, Delray Beach, Gulf Stream, and Ocean Ridge area, per the South Florida Sun Sentinel.
The owner, identified by The Real Deal as an Omaha businessman, bought the property in 2022 in an off-market deal, and has since done extensive maintenance/repairs, while also revamping the interiors of the massive 17,602-square-foot mansion.
Featuring modern French-Eclectic architecture, transitional interiors by Marc-Michaels, and fortress-like construction by Mark Timothy Luxury Homes, the $59.9 million Ocean Blvd. house is the epitome of luxury.
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With 8 bedrooms, 10 full baths and 3 partial baths, the mansion has intricate details throughout, creatively blending an atmosphere of grand-scale entertaining and comfortable beach living.
Inside, some of the standout features of the privately gated estate include a gourmet kitchen with a large center island, double ovens and pantry; an oversized master bedroom with en suite and massive walk-in closet; a home theatre; and a fitness area, among others.
Adding to its beach living appeal, the Ocean Blvd. estate also features a heated pool/spa area with a cabana, outdoor shower, built-in grill, and summer kitchen.
Ultra-high-end real estate in Boca Raton, Florida is on a stratospheric rise, breaking record sale prices every year for five consecutive years. According to a CNBC report, mansions in the Boca Raton area are commanding Miami Beach prices, with the price per square foot of the area’s top-end homes now on par with Miami Beach pricing.
“People tend to think of Miami when the subject turns to high-end South Florida real estate,” Douglas Elliman real estate agent Senada Adzem told CNBC, “But Boca Raton is, without question, one of the region’s premier luxury residential markets.” And the spectacular $59.9 million Highland Beach mansion we covered today is clear proof of that.
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