April 16, 2021 #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

Del Rey Dry Cleaner Goes up in Flames

April 15, 2021

April 15, 2021

LAFD put out first-floor fire this week By Chad Winthrop Over 90 firefighters put out a fire that broke at...

Edify TV: LAFD Announces Likely Cause of Ballona Wetlands Fire

April 15, 2021

April 15, 2021

The LAFD has revealed the cause of a March fire that destroyed five acres of the Ballona Wetlands. Learn more...

Pizza Pop-up Coming to Venice Next Week

April 15, 2021

April 15, 2021

Lupa Cotta coming to Venice’s Chez Tex next Friday By Kerry Slater A “nomadic pizza business” is popping up in...

Restaurant Spotlight: Piccolo Bringing Fine Italian Dining to Santa Monica and Venice

April 15, 2021

April 15, 2021

Latest restaurant from Chef Antonio Mure with two locations on Westside  By Timothy Michael An esteemed chef with deep ties...

Food Review: Griddle Cake Perfection Arrives on the Westside

April 15, 2021

April 15, 2021

Breakfast by Salt’s Cure lands on Montana Avenue in Santa Monica By Kerry Slater A new Westside breakfast spot serves...

Westside Cafe Helping Save Monarch Butterflies

April 13, 2021

April 13, 2021

This Westside cafe is doing its part to keep its namesake insect, the monarch butterfly, safe. Learn more in this...

Virtual Venice Art Crawl This Week

April 13, 2021

April 13, 2021

Singers, poets, painters, photographers, performance artists and gallery owners are all scheduled to participate in the virtual Venice Art Crawl...

Junior Lifeguards Returning to Venice Beach This Summer

April 13, 2021

April 13, 2021

County-run program returns to LA County beaches July and August  By Sam Catanzaro A few weeks are left for prospective...

Beached Dolphin Near Venice: YO! Venice Show – April, 12, 2021

April 12, 2021

April 12, 2021

Local news and culture in under 5 minutes. * Beached Dolphin Near Venice Beach * Fareless rides coming to LA...

SWAT Tear Gas Trailer in Seven-Hour Venice Standoff

April 12, 2021

April 12, 2021

Standoff between police and barricaded suspect over the weekend at First Baptist Church By Sam Catanzaro  An over seven-hour standoff...

Dual Building Development Rises Near Venice High School

April 11, 2021

April 11, 2021

Two-building development underway on Venice Boulevard By Chad Winthrop Work is well underway on a two-building, mixed use development near...

Edify TV: A Look at a Proposed Westside Homeless Shelter Locations

April 11, 2021

April 11, 2021

Take a look at a collection of Westside properties that a LA lawmaker is proposing bringing homeless shelters to in this...

Westside Business Spotlight: The Bike Shop California

April 9, 2021

April 9, 2021

Today on the Westside Business Spotlight we visit The Bike Shop California, your neighborhood spot for all things bike-related.

‘Next-Generation’ Pudding Comes to Venice

April 8, 2021

April 8, 2021

Pudu Pudu opens on Abbot Kinney By Kerry Slater A dessert shop specializing “next-generation” pudding has come to Venice  Pudu...

Venice Beach Handball Courts Set to be Cleared Out

April 8, 2021

April 8, 2021

Due to an encampment at the courts LA City has posted its intent to clear out the area on April...