Communities
Downtown Burbank is the busiest part of the city. It is considered the hub and is also the home to six major studios, Warner Brothers., Cartoon Network, Disney, NBC-TV sound stages, ABC Television and Nickelodeon.
In 2005 and 2006 Downtown Burbank will receive a $150 million revitalization. The money will go towards three major projects: the Olson Company’s Burbank Village Walk, Cusumano Real Estate Groups’ Burbank Civic Plaza, and Champion Developments’ The Collection.
The majority of people living downtown are young professionals with an average annual income of $62,300 with most earning more than $76,000 each year. Many don’t blink twice when asked to pay the going rate of $500,000 to $800,000 for a condominium. In fact due to growth and increased demand, Downtown Burbank plans to add another 300 lofts during the next three years.