New report says "all signs point to an acceleration of DTLA's already phenomenal evolution"
A new report by the Downtown Center Business Improvement District found that "the Downtown market gained momentum in Q2 with positive results across all sectors." The report states that DTLA made significant gains made in the residential, office, retail, hospitality, civic and cultural sectors in the second quarter of 2018 (April - June), building upon a market rebound that kicked off at the beginning of the year.
Looking specifically at the residential market, the Downtown LA Market Report determined that 598 new residential units were added in Q2 and DTLA currently has a 94% occupancy rate--up from 86% during the second quarter of the previous year.
In Q2, 2,156 condo units and 7,051 market rate apartments were under construction, with many of those being in new glass and steel towers that are being built on once vacant or blighted lots. 76 new units of permanent supportive housing broke ground at 7th & Witmer in City West.
Click on the image below the read the entire report: