Development News

The mission of the DCBID’s Economic Development team is to improve and revitalize Downtown Los Angeles and bring investment and new businesses to the area. Browse the latest Development News for information on construction & development projects in DTLA.

Metropolis Tower II Unveiled at The DTLA Event of The Summer

The Agency RE | 8.3.2018

A soiree fit for a king marked the grand opening celebration of the newest gleaming tower to grace the Downtown Los Angeles skyline. Metropolis Tower II is now selling its exquisit collection of studio, one- and two-bedroom furnished model residences and amenity offerings were unveiled in unbelievable style Saturday with A Midsummer Night's Dream bash overlooking the city.

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Brookfield Agrees to Acquire Forest City in $6.8 Billion Deal

Bloomberg | 7.31.2018

The Toronto-based alternative asset manager said in a statement Tuesday it will acquire Forest City for $25.35 a share in cash, a 10 percent premium over where shares closed Monday and about 26 percent above where they were trading the day before Bloomberg reported that the pair had restarted talks. The deal is valued at $11.4 billion including debt, according to the statement.

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City Council Approves Fashion District's City Market Development

Urbanize LA | 6.28.2018

The City Market project, which is being developed by Lena Group, was first announced in 2012 as the more than century-old property's owners looked to reinvent the longtime produce market.  Approved plans call for the construction of a series of low-rise and high-rise buildings between three and 38 stories in height.

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Proposed 77-Story Tower Would Be L.A.'s Tallest Building

Urbanize LA | 6.20.2018

Last week, Chinese developer Shenzhen New World Group filed plans with the City of Los Angeles to redevelop the 1980s L.A. Grand Hotel Downtown at 333 S. Figueroa Street on Bunker Hill.  In addition to converting the existing 13-story hotel into 224 apartments, the proposed development also calls for the construction of a soaring 77-story tower which would rise to an apex nearly 1,108 feet above ground level.

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Reinventing the Row: A Faded Manufacturing Hub Gets New Life

LA Downtown News | 6.13.2018

On an overcast Tuesday afternoon, the Row DTLA complex in the Industrial District is bustling. Dozens of construction workers are doing renovations on one of the six massive buildings. On the central and western portions of the site, shoppers parade down the long thoroughfares between the concrete structures.

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L.A. Signs Off On Two Downtown Hotel Towers - And Some Taxpayer Help

LA Times | 5.18.2018

The Los Angeles City Council approved a plan Friday for putting a 1,153-room hotel complex across from the Convention Center, providing the developer a lucrative taxpayer subsidy and a deal to adorn the project with digital signs. 

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L.A. Urbanized: The Sparks of Downtown LA’s Boom

Urbanize LA | 4.30.2018

Up to this point, this series has focused on contextual background evolutions that set the stage for Downtown’s explosive growth, but did not directly cause it.  This week’s installment will describe what specifically launched Downtown LA on its current transformation, against the backdrop described in the prior three installments.  

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Historic High-Rise Sold as Downtown L.A.'s Former Business District Thrives

LA Times | 3.31.2018

One of downtown's oldest tall buildings, the former Los Angeles offices of the Atchison, Topeka and Santa Fe Railroad, sold this week for nearly $70 million to a residential developer. Now known as the Santa Fe Lofts, the 11-story tower at Main and 6th streets, which opened in 1908, has been an apartment building for more than a decade and was owned by investor Capital Foresight.

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Frank Gehry Tapped to Design Colburn School Extension and Concert Hall in Downtown L.A.

LA Times | 3.23.2018

Frank Gehry has been selected to design a campus extension for the Colburn School, including a 1,100-seat concert hall that will further expand the Grand Avenue arts corridor in downtown Los Angeles. The project, to be announced Wednesday by Colburn President and CEO Sel Kardan, also includes a 700-seat studio theater for dance and vocal performance, a 100-seat theater for smaller-scale and experimental work, as well as classrooms, dance studios, an outdoor performance area and housing for students and guest artists.

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Latest Developments In DTLA Reflect How The Area Is Growing

Bisnow | 3.12.2018

Indicative of the city’s booming landscape, the Los Angeles Planning Commission is considering two high-rise mixed-use developments in downtown LA. In February’s planning commission meeting, the commission gave preliminary approvals for Agoura Oaks’ proposed Hill Street Lofts, a 390-foot high-rise development at 920 South Hill St., which is currently a parking lot, and renowned developer Barry Shy’s 601 Main St., a 38-story, 390-foot, mixed-use high-rise development.

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DTLA Building Boom Sets New Record in 2017

Connect Media | 3.12.2018

The Downtown Center Business Improvement District’s (DCBID) Q4 2017 Downtown Market Report revealed that the DTLA Renaissance is growing ever stronger, with substantial gains scored across all sectors. Residential development led the way with a record-breaking 2,831 units coming to market in 2017 in 11 projects. With nearly 10,000 more units under construction, and almost 30,000 units proposed, more records are likely to fall in the coming years.

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Downtown Has a High Apartment Vacancy Rate? The Rest of L.A. Should Be So Lucky

LA Times | 2.13.2018

For a city suffering from a housing crisis, the subject of real estate development has somewhat oddly become a wedge issue in Los Angeles. Despite the constant refrain from economists that an increase in supply is key to solving the region's woes, anti-growth advocates have countered that the bulk of new projects charge rents that are unaffordable to the average Angeleno, and therefore can't help end our problems.

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NoMad Hotel Joins Crop of Boutique Inns Giving Second Life to L.A.'s Historic Office Buildings

LA Times | 2.4.2018

The return to glory of the temple of finance created by pioneering California banker A.P. Giannini at 7th and Olive streets reflects the economic comeback of downtown and the rush to provide a unique kind of lodging for a new wave of visitors drawn to the reviving city center. These days, older office buildings are particularly prized by operators of personality-laden boutique hotels intended to appeal to travelers who shun the well-known chain brands that dominate the hospitality industry.

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City Council Approves Angels Landing Plan

Curbed LA | 12.13.2017

The Los Angeles City Council has unanimously approved a $1.2-billion plan from developers Claridge Properties, MacFarlane Partners, and The Peebles Corporation for the redevelopment of the Bunker Hill site now dubbed Angels Landing. The project, designed by Handel Architects, would fill the site with an 88-story skyscraper and a 24-story tower. Filling up those high-rises would be 500 SLS and Mondrian hotel rooms, 250 condos, open space, shops and restaurants, and a charter elementary school.

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