While there were students @ LTL during my stay there, most of the people I knew were successful creative professionals who planned on purchasing their lofts until promised incentives (like rent-to-own options) soured.
On the other hand, it's easy for new owners to clear out renters: when I left last year, management office was open unpredictably, maintenance requests took weeks, & continual construction noise made business impossible (these are after all 'live/work' spaces with majority of residents working from home). With the terrible homeless situation visibly getting worse & clients becoming more reluctant to come to LTL I cleared out last year in disappointment.