A boom period in the early 20th century produced a string of commercial structures along Spring and Main streets in Downtown Los Angeles. This area was known as the "Wall Street of the West". 
But suburbanization and decentralization begining in the 1930s and intensifying in the 1950s had left the area derelict and depressed by the 1960s. Urban renewal projects in the late 1960s and 1970s skipped the Historic Core business district entirely and erected brand new skyscrapers west of Spring and Main streets.
Despite this abandonment, relocating the business district actually saved the historic structures which would have been demolished to erect modern high-rises. The historic area "hibernated".
In the 1970s and 1980s many Los Angeles artists had taken up residence in massive semi-abandoned urban spaces in warehouse districts just east of the central business district of Downtown LA. With them sprouted a small but notable scene with several galleries, cafes, and performance spaces. The area became known as the "Artist District" or "Arts District".
While the area is still home to many artists and their studio spaces, slightly west in the Historic Core area around Spring Street and Main Street has become the major draw for galleries and lofts. In 1999, the Adaptive Resuse Ordinance came into effect clearing the way for the largely vacant historic structures along Spring and Main to be converted into high-end loft apartments, attracted financially comfortable relatively young professionals-web developers, graphic designers, commercial photographers, lawyers, freshly graduated office workers, etc.
At street level, businesses opened up catering to these new urban professionals.
"Gallery Row" was formed in 2003, officially designating the handful of gallery spaces at the time along these streets. The idea of Artwalk was developed, where the galleries would stay open for the same hours and promote themselves to visitors to check out monthly. The first Artwalk followed in 2004 with less than 100 visitors checking out the 8 or so galleries. But by 2010, up to 15,000 visitors were checking out the more than 40 exhibition spaces in the Historic Core area.
The area became incredibly packed as thousands of people descended on those sidewalks to drink at the new bars that had cropped up, eat at the dozens of gourmet food trucks, see and be seen, and also look at art. I had first gone to Artwalk in early 2007 and had been pleased, but going regularly I learned to go early and leave by the time the crowds came at nightfall. I was happy to see Downtown be bustling and popular especially after dark, and it was very exciting to be among the bustle of people around my age, but it became hard to navigate through the crowds to see the art and I also lamented the "party" atmosphere that the event had taken on.
The last Downtown Artwalk I had gone to was in March of 2010. After a long absence, I wanted to check it out again. This past Thursday, June 14 2012, I boarded the Metro at around 4pm and headed downtown. Exiting at Pershing Square station, I was happy to see that there was no crowding and I saw only a few people walking around with their Artwalk gallery maps. There were also more families with young children. The first place I checked out was a gallery called The Hive. In the past I had become annoyed with the place since it was always uncomfortably packed and attracted the "hipster" element, but at 4:45 pm it was completely empty. I could leisurely meander through the maze of surrealist art.
Other galleries seemed to also have either contemporary surrealist art, pop art, urban street art, or Chicana/o art. My favorite was probably a space called Robert Reynolds Gallery which had very textured minimalist art as well as large installations resembling shipwrecks and alien space vessels.
A completely new place was a mixed-use area called The Medallion which had apartments above two levels of exhibition spaces.
There was also a plaza with food vendors and seating.
In one space, there were boards corresponding to geographic areas of Los Angeles (Beach Cities, Eastside, etc) where you could put innuendo. I picked the Valley board and put a computer screen with porn on it crossed out that said "Stimulation not Simulation". Next to it was a cave with a women and treasure that said "Enter to Win".
The Bob Baker Marionette Theatre had a space where they were giving puppet shows.
Hungry, I made my way to the new UMAMIcatessen on Broadway across from the beautiful Art Deco Eastern Columbia building.
As I sat eating a Port and Stilton buger with truffle cheese fries (I assure you despite its appearance it was delicious),
I was contemplating my impressions of the event and Downtown Los Angeles in general. I decided I would rather have this current mixture and balance of high end and low end, humble and high brow, taqueria shack and gourmet burger place, old historic buildings housing expensive lofts filled with moneyed urbanites, the homeless in Skid Row, and working class multi-ethnic communities in every direction around me: Boyle Heights/East LA, South LA, Westlake/Pico-Union, Chinatown, etc. I would not want there to be only one aspect of its current variety, its this diverse cityscape with its diverse inhabitants that is what is most attractive to me.
I was glad to see high end coffee bars (Syrup and CoffeeBar)
as well as Main Street's punk dive Five Stars Bar and the Smell (white building with "No Age"), New Jalisco Bar (a gay Mexican dive bar)
and the Rosslyn converted into nice apartments.
Along Broadway, the historic theatres had marquees announcing numerous events (Keane concert, Psycho screening, etc) as well as new uses as Latino swap meets and Spanish-language churches.
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