October 29, 2020 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Venice Beach Named World’s Most Valuable Beach

$3.1 billion evaluation despite homelessness crisis.

By Sam Catanzaro

Fifteen years ago, Venice Beach was known around the world for its funky vibe, eccentric locals but certainly not its real estate values. Fast-forward present day, however, and while the funky vibe and eccentric locals remain, the low real estate prices are a relict of history. In confirmation of this upward trend, a new study finds that Venice Beach is the most valuable beach in the world.

“Venice Beach is forever associated with the bohemian vibe of Los Angeles; its name is synonymous with Californication,” wrote Canvas Holidays, the organization who carried out the research. “It’s no surprise that this world-famous beach tops our list with a super-sized value of £2.39 billion ($3.1 billion).”

Venice Beach is only one of two beaches in the United States to make the list of the world’s most valuable beaches. Photo: canvasholidays.com, https://www.canvasholidays.co.uk/blog/2018/06/07/worlds-best-beaches-cost/

Canvas Holidays, a UK based travel company, determined this value by multiplying a beach’s size by the average cost per meter squared of an apartment in the area. Venice Beach’s $3.1 billion evaluation narrowly beat runner-up Bournemouth Beach in England, valued at $2.9 billion. Third on the list is Brazil’s Copacabana Beach in Rio De Janeiro, valued at $1 billion. Venice Beach is only one of two beaches in the United States that made the list, the other being Waikiki Beach in Hawaii.

In contrast to this multi-billion dollar evaluation, however, is the high number of individuals experiencing homelessness in Venice. According to the 2018 Greater Los Angeles Homeless Count, Venice has 58 percent of the total number of individuals experiencing homelessness in Council District 11, and yet only 7 percent of the population in the District live in Venice. In addition, with tech giants like Google and Snapchat driving up real estate values, the contrast between wealthy and lower-income individuals experiencing homelessness has become acute.

“All day you’ll see Mercedes, Maseratis, BMWs and Range Rovers going into Gold’s Gym and then you see this,” said Bruno Hernandez, Executive Director of The Setting the Pace Foundation, referring to the high number of individuals experiencing homelessness living on Third Avenue right next to Gold’s Gym and Google.

Despite its multi-billion evaluation, the high number of individuals experiencing homelessness in Venice offers a sobering contrast to the study’s results. Photo: Sam Catanzaro.

While the City of Los Angeles has put a significant amount of resources into tackling the homeless problem facing Venice Beach and the rest of the city  (including $1.2 billion in bonds to construct housing) the impacts of the issue are often seen directly on the world’s most valuable beach. Until last month, the City closed beach bathrooms along Ocean Front Walk at night. As a result, many individuals experiencing homelessness were forced to defecate on the beach, leading to a Hepatitis A outbreak in the area.

Related Posts

LA County Considering Allowing Restaurants to Implement COVID-19 Surcharge

October 28, 2020

October 28, 2020

Plan would allow restaurants, breweries and wineries to add COVID-19 surcharge By Kerry Slater Los Angeles County is considering allowing...

Edify TV: Halloween Amid COVID-19

October 27, 2020

October 27, 2020

With LA County health officials prohibiting many Halloween activities and discouraging trick or treating, costume stores like Ursula’s Costumes in...

Local Spa Owner Admits Price Gouging in Sale of Scarce N95 Masks

October 27, 2020

October 27, 2020

Niki Schwarz, owner of Tikkun Holistic Spa, pleads guilty to federal charges A local day spa owner was charged this...

Reese-Davidson Project Hearing Postponed: YO! Venice Show – October, 26, 2020

October 26, 2020

October 26, 2020

Local news and culture in under 5 minutes. * Reese-Davidson Project Hearing Postponed * Early Voter Turnout Close To 50,000...

Two Developments with 100+ Units Underway Near Venice High School

October 25, 2020

October 25, 2020

Duo of multifamily apartments on Venice Boulevard beginning to rise By Kerry Slater Over a year after breaking ground, a...

Edify TV: Development Replacing Local Car Wash

October 25, 2020

October 25, 2020

A Sawtelle lot that once held a car wash will soon be the site of a multi-family housing development. Learn...

‘Recall Newsom’ Head Hanging From Venice Ballerina Clown

October 21, 2020

October 21, 2020

Cardboard cutout of Gov. Newsom’s head hanging from iconic Venice art installation By Sam Catanzaro A cardboard cutout painting of...

L.A. County COVID-19 Cases Partly Driven Teenagers

October 20, 2020

October 20, 2020

68 percent of new cases among people between ages of 12 and 50 By Sam Catanzaro Los Angeles County health...

Free Flu Shots at Palms Middle School for Students and Family

October 20, 2020

October 20, 2020

Los Angeles Unified and Health Net offering free vaccinations for seasonal flu to students and families By Chad Winthrop Los...

Mark Twain Middle School Community Raising Money to Restore Mural

October 19, 2020

October 19, 2020

Colorful mosaic mural in front of school in need of repair By Sam Catanzaro Mark Twain Middle School community members...

Intravenous Vitamin Therapy: A Natural, Effective Solution for the Flu

October 19, 2020

October 19, 2020

By Dr. Mahboubeh Hashemi, ND and Dr. Matthew Cavaiola, ND  As fall and winter are fast approaching, many people, and...

Three-Story Apartment Building Planned Near Venice Canals

October 18, 2020

October 18, 2020

1940s triplex could be replaced by co-living facility By Toi Creel Plans are in the works to demolish a 1940s...

Edify TV: Deal to House Homeless People Near Freeways

October 18, 2020

October 18, 2020

After months of negotiations, the City and County of LA reached a $300 million deal to house thousands of homeless...

LADOT Resumes Parking Enforcement

October 15, 2020

October 15, 2020

The Los Angeles Department of Transportation (LADOT) Parking Enforcement and Traffic Control (PETC) has resumed parking enforcement. Find out what...