Downtown Development: The Latest Info on 106 Downtown Projects
DTLA – Maybe it’s the turbo-charged national economy. Maybe it’s the Los Angeles housing shortage that has caused both rents and home sale prices to spike. Maybe it’s the pressure developers face of trying to launch a project before voters cast ballots on Measure S in March. Maybe it’s all of the above.
Whatever the case, the Downtown Los Angeles development scene is busier than ever, and has surpassed pre-recession peaks. Everywhere you look in the Central City, there are cranes and construction workers (not to mention closed streets and sidewalks) building new high-rises and landmarks.
In the last five months, developers have announced more than a dozen projects, from a reimagining of the Southern California Flower Market, complete with a residential tower, to the Olympia, a three-pronged South Park high-rise that would create more than 1,300 apartments. These occur as other long-awaited developments near the finish line: In the coming months, projects including the Wilshire Grand replacement and Los Angeles State Historic Park are scheduled to open.
In the following pages, Los Angeles Downtown News provides the latest information on 106 projects. From Chinatown to South Park, from City West to the Arts District, housing, retail and office efforts are underway.
We have altered our Development format in the effort to make it easier to track individual projects. We think it’s a better look. We hope you agree.
1050 S. Grand Ave
Developer: Trumark Urban
Budget: $125 million
Height: 25 stories
Residences: 151 one- and two-bedroom condos and six one- and two-story penthouses
Anticipated Opening: This month
The Latest: The South Park condominium complex, designed by Hanson-L.A., is ready for move-ins. The project is more than 60% sold, with residences starting in the $600,000s.
Los Angeles Downtown News
Eddie Kim, Emily Manthei, Jon Regardie and Nicholas Slayton