Producing the Downtown LA Market Report each quarter involves a lot of numbers and stats – from occupancy rates and new construction figures to square footage and leasing percentages – and making sense of the patterns and trends in all that data. But as any seasoned developer knows, to really understand what's going on in a market, you must get out there yourself and walk the streets, tour the properties, listen to the people, and experience the environment in real time.
Long-time Angelenos, young families, bold artists, and savvy professionals from around the world are flocking to Downtown LA for its culture, convenience, and community.
Over the past five years, DTLA has welcomed over 30 new residential properties and more than 20,000 new people who are now calling DTLA "home." It is one of the hottest areas of residential growth in the region and shows no signs of slowing. The streets are alive with foot traffic, restaurants are busy, rooftop bars are packed, and new businesses are opening across all the neighborhoods.
Living in Downtown LA is officially a "thing."
This content was written by Nick Griffin and originally appeared on Urbanize LA.
The Downtown residential market has been on fire for years now, with the retail and restaurant scene smoldering in its wake. Now those sparks are beginning to ignite the commercial office market – with our Q2 Market Report showing growth in leasing activity, average rents and net absorption. But the numbers, while good news, aren't the real story.
For many years, the Downtown Center BID has run a monthly Housing Tour showcasing everything DTLA has to offer to those looking for a more urban lifestyle in sprawling Los Angeles. Downtown LA has a weekday population of 500,000 (workers, tourists, and residents) but only 70,000+ people actually live here. However, the number of Downtown residents is expected to top 85,000 in the next few years.
On this housing tour, we show off some of the most dynamic neighborhoods in DTLA while exploring some of the newest residential communities. Our most recent DTLA Housing Tour was held on August 4th - starting at Bottega Louie, one of DTLA's finest restaurants. In case you weren't able to join us, here's a recap of the properties we explored.
On July 11, 2018, Downtown LA and their canine friends gathered at the Cathedral of Our Lady of the Angels to celebrate the 12th Annual Dog Day at the Cathedral, organized and hosted by the Downtown Center Business Improvement District (DCBID) and the Archdiocese of Los Angeles. The DCBID would like to thank the Title Sponsors Pussy & Pooch and The Bloc and our Premier Sponsor Downtown News.