We believe real estate in Echo Park is an investment with good long-term fundamentals. It has a vibrant culture and a strong local economy, it's highly walkable, it's home to the Dodgers, has great local restaurants, cafes, and shops, and it's close to a major center of jobs with its proximity to downtown Los Angeles. It’s a neighborhood that is truly beloved by those that call it home.
Simultaneously, Echo Park is a neighborhood with a relatively low rate of home-ownership—this means that relatively few of the 45,000 or so people who call the neighborhood home are financial stakeholders.
Nico’s model for community-driven local investment is new and Echo Park is a neighborhood that has a history of counter-culture and welcoming new and different ideas. We think the people who live and work in Echo Park are eager to invest in their community and that increasing the number of local stakeholders who are able to build wealth by investing locally could lead to some pretty special outcomes for the community over time.