LA Failed To Stop Landlords From Turning Low-Cost Housing Into Hotels
By law, the American Hotel in downtown Los Angeles is supposed to be reserved for residents who can’t afford to live anywhere else. For decades, the building was a haven in the city’s sky-high housing market, where artists, musicians and people down on their luck could rent rooms for about $500 a month. At the end of the day, longtime tenants would hang out at Al’s Bar, a legendary punk and alternative rock venue on the ground floor where bands like the Red Hot Chili Peppers played long before they sold out stadiums.
But amid the largest homelessness crisis in the nation, the American’s owner has turned the building into a boutique hotel where tourists can book rooms for as much as $209 a night.