THIRD QUARTER, 2OI7 DOWNTOWN LA MARKET …€¦ · and a range of high-end amenities that will be located just a block from the new headquarters of Warner ... Macfarlane Partners

THIRD QUARTER, 2OI7

DOWNTOWN LA

MARKET REPORT

Photo by Hunter Kerhart

2 Downtown Center Business Improvement District

Q3 2017 MARKET REPORT

Founded in 1998, the Downtown Center Business Improvement District (DCBID) is a coalition of nearly 1,700 property owners in the central business district, united in their commitment to enhance the quality of life in the area. The organization has been a catalyst in the transformation of the Downtown Center District, turning it into a vibrant 24/7 destination.

The mission of the Economic Development team is to improve and revitalize the District, and bring investment and new businesses to the area. We provide services to current and prospective residents, workers and businesses, including:• Development Consulting• Research and Information Requests• Events and Marketing• Monthly Housing and Office Tours• Customized Tours and Reports

Whether you need information on new development, introductions to local decision-makers and influencers, or you just want to learn more about Downtown’s dynamic growth, we are the portal for information about the District and DTLA.

DEFINITION OF DOWNTOWN LAThe DCBID defines Downtown Los Angeles as the area bounded by the 110, 101 and 10 freeways and the LA River, plus Chinatown, City West, and Exposition Park. The projects contained in this report are within a portion of Downtown Los Angeles, shown on the map to the left.

ABOUT THE DCBID

To learn more about Downtown’s Renaissance and how to join us, visit www.DowntownLA.com.


3Downtown Center Business Improvement District

EXECUTIVE SUMMARY ........................................ 4

MARKET OVERVIEW

Residential ........................................................ 6

Office ................................................................. 7

Significant Real Estate Sales ............................. 7

Retail ................................................................. 8

Hotel ................................................................. 8

DEVELOPMENT UPDATE

Commercial Development Map ....................... 9

Residential Development Map ...................... 10

Under Construction ....................................... 12

Proposed ........................................................ 14

FEATURED PROJECTS

Major Mixed-Use ........................................... 17

Residential ..................................................... 18

Office .............................................................. 19

Retail .............................................................. 20

Hotel .............................................................. 21

Civic & Cultural .............................................. 21

SPOTLIGHT ON DTLA

Local Media .................................................... 22

US and Global Media ..................................... 23

TABLE OF CONTENTS

8

17

20



Downtown LA continued on its dynamic growth trajectory in Q3, despite a relatively slow quarter for the greater LA area. Leading the way was residential with another 1,380 rental units coming to market.

RESIDENTIALWith 5 new projects opening in Q3 alone, 2017 has already set a new record with over 2,700 new units delivered this year. Nevertheless, demand kept pace, with rents and occupancy rates holding steady from quarter to quarter.

OFFICEIn the Financial District, the Wilshire Grand Center added Metrolink to its roster of tenants, bringing the property to 40% leased. Meanwhile, the creative migration to Downtown continued with Adidas announcing a new marketing headquarters, tech firm Gimbal relocating from Santa Monica, both to ROW DTLA, Bullitt Studios moving from West Hollywood to City Market South in the Fashion District, and architecture firm Jerde leaving Venice for the historic CalEdison on Bunker Hill.

RETAIL The quarter was also highlighted by the opening of two flagship fashion boutiques: Nordstrom Rack at FigAt7th, and COS in the historic Olympic Theater off Broadway. Broadway also prepared to welcome another national footwear chain with news that Vans signed a full floor lease at the Singer Sewing Building. On the food front, Sweetgreen, the national chain of healthy fast-casual restaurants opened the first of several planned Downtown locations at The CalEdison.

HOSPITALITYConstruction began on The Hoxton Hotel at 11th and Broadway across from the almost completed LA Proper. In the Arts District, construction also began on Soho House, a private social club for creatives, with 48 hotel rooms and a range of high-end amenities that will be located just a block from the new headquarters of Warner Music Group. Meanwhile the highly anticipated Nomad Hotel at 7th and Olive readied for a Q1 2018 opening

CIVIC & CULTURAL After several years sitting idle, Downtown’s cherished Angel’s Flight finally returned to full service, bringing an appealing tourist attraction and much-needed transport from the office towers of Bunker Hill to the dining and entertainment options in the Historic Core.

EXECUTIVE SUMMARY

$3.48 Average Class A Rent

Per Square Foot

$2.92 Apartment Asking Rent

Per Square Foot

17.6% office vacancy rate

1.9 million Square Feet YTD total office lease activity

$176.38 YTD RevPar

Q3 KEY STATS

182 New residential units

broke ground

1,380 New residential units

opened

Soho House began construction in the Arts District

Gimbal announced they will relocate from Santa Monica to ROW DTLA

COS opened a flagship location at the historic Olympic Theater on 8th

Q3 KEY HIGHLIGHTS



DowntownLA.com/MakeItYoursRESIDENTIAL I OFFICE I RETAIL



Residential• Over 700 units opened in City West, 640 of them at

Holland Partners’ Sofia and the balance at Seven West.

• Construction began on the adaptive reuse of the Foreman & Clark Building, which will convert the historic office property into 125 apartments.

• Condo Sales continued to be strong with 133 sales in Q3, led by Metropolis and Ten50, which has almost completely sold out.

2,156 CONDO UNITS UNDER

CONSTRUCTION

MARKET OVERVIEW

Q3 2017 Q3 2016

Apartment Occupancy Rate 87.5% 91.5%

Apartment Asking Rent Per Sq Ft $2.92 $2.81

Average Effective Rent Per Unit $2,499 $2,584

Condo Sales 133 89

Condo Price Per Square Foot $679 $637

Source: DTLA Life, CoStar

RESIDENTIAL UNITS Before 1999 Since 1999Current

InventoryUnder

ConstructionTotal WhenComplete Proposed

Market Rate Rental 2,426 19,975 22,401 7,676 30,077 24,514

Condos 829 5,266 6,095 2,156 8,251 4,685

Affordable 8,371 3,884 12,255 71 12,326 692

Total 11,626 29,125 39,371 9,903 50,654 29,891

Estimated Population 67,324 18,393 85,717

Estimated Population = #of units x 1.8 residents per unit x 95% occupancy rate

RESIDENTIAL INVENTORY

Metropolis



Real Estate Sales

MARKET OVERVIEW

Office• Ernst & Young renewed their lease for 120,000 SF

at their namesake tower.

• Onni Group announced plans to upgrade

the Western Pacific Building at Olympic and

Broadway into modern creative space.

• Despite relatively flat net absorption, rents continued to rise as landlords seek higher value

tenants and longer-term deals.

Q3 2017 Q3 2016

Vacancy Rate 17.6% 16.8%

Class A Rent Per Sq Ft $3.48 $3.32

Overall Rent Per Sq Ft $3.47 $3.30

YTD Net Absorption (-59,672) 185,142

YTD Leasing Activity 1,946,024 1,665,418

Source: CBRE

Property Address Buyer Seller Price

1211 E Washington Blvd Yousef Golbahary Atlas Capital Group LLC $17m

1655 E 14th St John Kim A.B.S. Clothing Company $7.8m

811-817 San Julian St Moses Babazadeh Meang Khy Chia $7.5m

1030 S Hill St (Land) Onni Group Harry Altman Trust $6m

2.9m SQUARE FEET OF OFFICE SPACE

UNDER CONSTRUCTION

1.5m PROPOSED

Wilshire Grand Center



Oceanwide Plaza

The LA Proper

Hotel• The L.A. Convention Center announced its best

year ever, with 74% occupancy, compared to only 56% in 2013, the last year it was run by the City of LA before turning over operations to AEG.

• The Freehand opened Broken Shaker, their rooftop patio bar.

• The Sydell Group announced that The Nomad Hotel at 7th & Olive will open in 2018.

Retail• A new lease was signed by Vans for a flagship store

on Broadway, adding to the growing roster of shoe stores in the area.

• Corporation Food Hall opened on Spring St. with eight diverse vendors.

• PBJ.LA became the newest vendor at Grand Central Market, which celebrated its 100th anniversary.

1.5mSQUARE FEET OF RETAIL SPACE

UNDER CONSTRUCTION

2.5m PROPOSED

Q3 2017 Q3 2016

Vacancy Rate 4.6% 4.0%

Average Rent Per Square Foot $2.57 $2.51

YTD Net Absorption (-74,820) 28,227

Source: CoStar

Q3 2017 Q3 2016

YTD Occupancy Rate 81.1% 80.8%

YTD Average Daily Rate $217.57 $213.24

YTD RevPAR $176.38 $172.32

Source: LA Tourism and Convention Board

MARKET OVERVIEW

1,355 ROOMS UNDER CONSTRUCTION

6,746 PROPOSED



Commercial Developmentn Existingn Under Construction/Renovationn Proposed

As of 09/30/17

Opened or began construction in Q3


Residential Developmentn Existingn Under Construction/Renovationn Proposed

1As of 09/30/17

Opened or began construction in Q3




Project Name AddressResidential

UnitsHotel

RoomsOffice Sq. Ft.

Retail Sq. Ft.

Estimated Completion

Developer

MAJOR MIXED USEFINANCIAL DISTRICT

Metropolis Phase II 899 Francisco St. 1,002 C = = 65,000 2018 Greenland

HISTORIC CORE

Broadway Trade Center 801 S. Broadway = 200 500,000 200,000 2017 Waterbridge

SOUTH PARK

Oceanwide Plaza 11th & Figueroa 504 C 184 = 166,000 2019 Oceanwide Holdings

RESIDENTIALARTS DISTRICT

The Aliso 950 E. 3rd St. 471 = = 22,000 2018 Legendary Development

AMP Lofts 695 S. Santa Fe Ave. 320 = = 20,000 2018 Bolour Associates

CHINATOWN

LA Plaza Cultura Village 400 W. Cesar E Chavez Ave. 345 = = 50,000 2018 LA Plaza de Cultura y Artes

FASHION DISTRICT

Grether & Grether 730 S. Los Angeles St. 72 = = 11,000 2017 South Park Group

FINANCIAL DISTRICT

Grand Hope Lofts 888 S. Hope St. 526 = = 5,000 2018 CIM

820 Olive Street 820 S. Olive St. 516 = = 4,500 2018 Onni Group

Park Fifth 5th & Olive 660 = 24,000 2018 Macfarlane Partners

HISTORIC CORE

939 S. Broadway 939 S. Broadway 163 = = TBD 2017 Barry Shy

755 Spring St 755 S. Spring St. 320 = = 8,900 2017 Holland Partners

Singer Sewing Building 806 S. Broadway 7 = = TBD 2017 Anjac Fashion

Topaz 550 S. Main St. 159 = = 23,000 2017 JADE Enterprises

Banco Popular 354 S. Spring St. 188 = = 17,500 2018 Standard Development

732 Spring Street 732 S. Spring St. 300 = = 7,500 2018 Holland Partners

Perla 4th & Broadway 450 C = = 7,000 2018 SCG America

950 S. Broadway 950 S. Broadway 30 = = 7,500 2017 GH Palmer

Broadway Palace Phase 2 938 S. Broadway 413 = = 20,000 2017 GH Palmer

LITTLE TOKYO

MIKADO 331-335 E. 1st St 41 = = TBD 2018 Capital Foresight

SOUTH PARK

Circa 1200 S. Figueroa St. 648 = = 48,000 2018 Jamison

1400 S. Figueroa 1400 S. Figueroa St. 110 = = 1,400 2017 DHG Family Trust

Mack Urban Phase 2 1120 S. Grand Ave. 512 = = 10,000 2018 Mack Urban

Apex Phase II 900 S. Figueroa St. 341 = = 15,000 2018 Holland Partners

UNDER CONSTRUCTION



Project Name AddressResidential

UnitsHotel

RoomsOffice Sq. Ft.

Retail Sq. Ft.

Estimated Completion

Developer

SOUTH PARK (CONT.)

Onni Towers 1212 S. Flower St. 730 = = 8,000 2018 Onni Group

1133 Hope Tower 1133 S. Hope St. 200 C = = 5,000 2019 Fulton Street Ventures

HOTELARTS DISTRICT

Soho House 1000 S. Santa Fe St. = 48 = 10,000 2018 Soho House

FINANCIAL DISTRICT

Hotel Clark 426 S. Hill St. = 348 = = 2017 Chetrit Group

Embassy Hotel 851 S. Grand Ave. = 183 = = 2017 Chetrit Group

NoMad Hotel 515 W. 7th St. = 241 = = 2017 Sydell Group

FASHION DISTRICT

The Proper (Case Hotel) 11th & Broadway = 151 = = 2017 The Kor Group

OFFICE & RETAILARTS DISTRICT

Santa Fe Business Center 500 S. Santa Fe Ave. = = 90,000 = 2018 Chalmers

AT MATEO Mateo & Palmetto = = 50,000 130,000 2017 Blatteis & Schnur

ROW DTLA 7th & Alameda = = 1,200,000 200,000 2017 Atlas Property

The Ford Building 2060 E. 7th St. = = 271,000 = 2017 Shorenstein

4th & Traction 963 E. 4th St. = = 100,000 30,000 2017 Hudson Pacific Properties

Maxwell Building 405 S. Mateo St. = = 56,635 = 2018 Hudson Pacific Properties

CHINATOWN

759 N. Spring 759 N. Spring St. = = 9,000 14,000 2017 Industry Partners

Capital Milling Building 1231 N. Spring St. = = TBD 50,000 2018 S&R Partners

FASHION DISTRICT

City Market South 11th & San Julian = = 30,000 100,000 2017 LENA Group

Harris Building 110 W. 11th St. = = 58,000 6,400 2017 JADE Enterprises

Herald Examiner 1111 S. Broadway = = 80,000 = 2018 Georgetown Co./The Hearst Corp.

FINANCIAL DISTRICT

712 S. Olive St. (LA Jewelry Mart) 712 S. Olive St. = = 85,000 14,000 2017 Atlas Capital

HISTORIC CORE

527 S. Broadway 527 S. Broadway = = 70,000 8,000 2017 King's Arch

731 S. Broadway 731 S. Broadway = = 23,000 = 2018 Unknown

The Trust Building 433 S. Spring St. = = 300,000 = 2018 Rising Realty Partners

The Pettebone Building 510 S. Broadway = = 27,000 12,000 2017 RYDA Ventures

TOTAL UNDER CONSTRUCTION9,903

ResidentialUnits

1,355 Hotel

Rooms

2,950,000 Office Sq. Ft.

1,547,300 Retail Sq. Ft.

TOTAL # OF PROJECTS =

47

UNDER CONSTRUCTION

C = Condo



Project Name Address ResidentialUnits

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft. Developer

MAJOR MIXED USEARTS DISTRICT

6AM 6th & Alameda 412 250,000 128,000 SunCal

2110 Bay 2110 Bay St. 110 = 113,000 51,000 Tishman Speyer

670 Mesquit 670 Mesquit St. 308 236 136,000 TBD V.E. Equities

BUNKER HILL

Grand Avenue Project 2nd & Grand 450 300 47,000 209,000 Related California

CIVIC CENTER

Times Mirror Square 100 S Broadway 1,127 = TBD 34,000 Onni Group

222 W 2nd St. 222 W 2nd St. 107 C = 534,000 7,200 Tribune Media Company

FASHION DISTRICT

City Market 9th & San Pedro 945 C 210 TBD 225,000 Peter Fleming

LITTLE TOKYO

Little Tokyo Galleria 333 S. Alameda St. 994 = = 100,000 TBD

SOUTH PARK

1020 S. Figueroa 1020 S. Figueroa St. 435 C 300 = 80,000 Hazens

SoLA Village 1900-1933 S. Broadway 1423 208 = 30,000 PRH LA Mart

811 W. Olympic 811 W Olympic Blvd. 374 373 33,500 65,000 Ben Neman

Figueroa Centre 925 S. Figueroa St. 200 C 220 = 94,000 Regalian

1600 S. Figueroa St. 1600 S. Figueroa St. 336 250 = 15,000 RP Realty Partners

RESIDENTIALARTS DISTRICT

Industrial Street Lofts 1525 Industrial St. 344 = 15,000 15,000 Camden

Alameda & 4th Lofts 360 S. Alameda St. 63 = = TBD South Alameda Development

1800 E. 7th St. 1800 E. 7th St. 125 = = 8,000 Elm Tree Investment

527 S. Colyton St. 527 S. Colyton St. 310 C = = 11,375 Bolour Assoc

520 S. Mateo St. 520 S Mateo St. 600 = 20,000 30,000 Carmel Partners

330 S. Alameda 330 S. Alameda 186 = = 22,000 Greystar

5th & Seaton 5th & Seaton 218 = = 18,400 WW-5th & Seaton

676 S. Mateo 676 S. Mateo 172 = = 23,000 District Centre

668 S. Alameda Street 668 S. Alameda 475 = = 45,000 Avalon Bay

1000 S Mateo St. 1000 S Mateo St. 113 = 12,700 120,000 Mateo Arts, LLC

Arts District Center 5th & Colyton & Seaton Streets 129 C 113 = 70,000 Arts District Development, LLC

234 N. Center St. 234 N. Center St. 430 = = 8,700 Atlas Capital

2143 Violet St. 2143 Violet St. 509 = = 288,000 Onni Group

4th & Hewitt 940 E. 4th St. 93 = = 20,000 Shoreham Capital

641 641 S. Imperial Ave. 140 = 7,000 7,000 Adam Lindemann

CHINATOWN

College Station 924 N. Spring St. 770 = = 51,000 Atlas Capital

720 W. Cesar E Chavez 720 W. Cesar E Chavez 299 = = 8,000 Cimmarusti Holdings

Alpine & Spring 211 W. Alpine 122 = = 4,200 Izek Shomoff

Hill & Ord 708 N. Hill St. 162 = = 5,000 Avant Development

643 N Spring St. 643 N Spring St. 203 = = 21,000 Redcar Properties

1201 N Broadway 1201 N Broadway 124 = = 8,700 Johnson Fain

1251 N Spring St. 1251 N Spring St. 937 = = 21,000 S&R Partners

PROPOSED

1,305/431 C



C = Condo


Hotel Rooms

Office Sq. Ft.


CITY WEST

1027 Wilshire 1027 Wilshire Blvd. 376 = = 6,500 Central City Development

Sapphire 1111 W. 6th St. 362 = = 25,800 Jade Enterprises

1135 W. 7th St. 1135 W. 7th 241 = = 7,000 Pangea Development

495 S. Hartford Ave. 495 S. Hartford Ave. 218 = = TBD Urban View Investments

Ferrante 1000 W. Temple 1,500 = = 30,000 GH Palmer

HOM Lofts 1230 W. Ingraham St. 80 = = = Sharp Capital

Career Lofts 675 S. Bixel 422 143 = = United American Properties

1000 1st St. 136 S Beaudry Ave. 220 = = 7,500 801 South Spring Holdings, LLC

Lifan Tower 1247 W. 7th St. 304 = = 5,700 Lifan Group

FASHION DISTRICT

7th & Maple 7th & Maple 452 = = TBD Realm Group/Urban Offerings

1100 S Main St. 1100 S Main St. 379 = = 26,000 Jade Enterprises

FINANCIAL DISTRICT

Eighth & Figueroa 744 S. Figueroa St. 436 = = 11,000 Mitsui Fudosan

845 S Olive St. 845 S Olive St. 205 = = 2,400 National Properties

754 S. Hope St. 754 S. Hope St. 409 = = 329 Mitsui Fudosan

755 S. Figueroa St. 755 S. Figueroa St. 780 = = = Brookfield

HISTORIC CORE

Hill Tower Lofts 920 S. Hill St. 239 C = = TBD Barry Shy

Medallion 2.0 4th & Main 500 = = 38,000 Saeed Farkhondehpour

SB Omega 601 S. Main St. 500 C = = 25,000 Barry Shy

955 S. Broadway 955 S. Broadway 163 C = = 6,400 Barry Shy

The Beacon 340 S. Hill St. 428 = = 5,600 Equity Residential

Spring St. Tower 525 S. Spring St. 360 = = 9,400 Downtown Management

Fifth and Hill 5th and Hill St. 142 C = = 25,000 Jeffrey Fish

433 S Main St. 433 S Main St. 196 = = 6344 Main Street Tower, LLC

Brooks Building 644 S. Broadway 30 = = 2,500 Owner (TBD)

The Hill 940 S. Hill St. 232 = = 14,000 940 Hill LLC

Garland Building 740 S. Broadway 47 = = TBD TBD

The Alexan 9th & Hill 305 = = 6,200 Trammell Crow Residential

INDUSTRIAL DISTRICT

Efficient City Apartments 721-813 E. 5th St. 160 = = 10,000 Dayan Investments

SP7 419 E. 7th/647 S. San Pedro 81 = = TBD Skid Row Housing Trust

Southern California Flower Market 755 S Wall St. 323 = 58,000 81,000 Southern California Flower Mart

6th at Central 601 S Central Ave. 236 = = 12,000 Triangle Plaza LLC

LITTLE TOKYO

Etco Homes 118 Astronaut Ellison S. Onizuka St. 66 = = TBD Etco Homes

The Catalina 443 S. San Pedro St. 78 = = 7,000 Statewide Acquisitions Corp

SOUTH PARK

12th and Grand 1201 S. Grand Ave. 126 C = = TBD City Century

Six Four Nine Lofts Wall & 7th 55 = = TBD Skid Row Housing Trust

FLOR 401 Wall & 7th 100 = = TBD Skid Row Housing Trust

Emerald 1340 S. Olive St. 154 = = 10,700 Jade Enterprises

Vara 1233 S. Grand Ave. 150 C = = 5,000 City Century

PROPOSED




Hotel Rooms

Office Sq. Ft.


SOUTH PARK (CONT.)

1410 S. Flower St. 1370-1418 S. Flower St. 147 = 1,200 6,741 Oxley Place, LLC

Mack Urban Phase 3 1155 S. Olive 154 = = 11,000 Mack Urban

Olympia Olympic Blvd. & Harbor Fwy. 1,367 = = 40,000 City Century

1000 Hill 1000-1022 S. Hill St. 498 = = 8,700 Onni Group

1045 S Olive St. 1045 S Olive St. 800 C = = TBD Crescent Heights

1317 S. Hope St. 1317 S. Hope St. 38 = = TBD FMB Development

1335 S. Grand Avenue 1323-1349 S. Grand Ave. 284 = = 6,300 M&A Gabaee

1344 S. Flower St. 1334-1348 S. Flower St. 151 = = 1,162 The Condor

1340 S. Hill St. 1340 S. Hill St. 233 = = 9,000 Chernoff Family Trust

HOTELARTS DISTRICT

400 S. Alameda 400 S. Alameda = 66 = = Habita Arts District (TBD)

710 S. Santa Fe Ave. 710 S. Santa Fe Ave. = 10 = TBD Firehouse Hotel LLC

FASHION DISTRICT

Western Pacific Building 1031 S. Broadway = 377 = = Onni Group

HISTORIC CORE

419 S. Spring 419 S. Spring St. = TBD = = PNK Group

Lizard in Los Angeles 631-633 S. Spring St. = 176 = = Lizard Capital

361 S. Spring St. 361 S. Spring St. = 315 = = Osib LA Downtown Properties

SOUTH PARK

1130 S. Hope 1130 S. Hope St. = 44 = = Fulton Street Ventures

Fig+Pico Figueroa St. & Pico Blvd. = 1,162 = 13,100 Lightstone

Cambria Hotel 920-928 James M. Wood = 247 = = Sun Capital & Pacific Property Partners

Morrison Hotel 1246 S Hope St. = 80 = TBD Hollywood Int’l. Regional Center

Trical Hotel 1300 S. Figueroa St. = 1,024 = TBD Trical Construction Inc.

OFFICE & RETAILARTS DISTRICT

SoHo House 1000 S. Santa Fe Ave. = = TBD TBD SoHo House

929 E. 2nd St 929 E. 2nd St. = = 65,000 32,000 Est4te Four Capital

2144 E Violet St 2144 E. Violet St. = = 91,000 6100 Lowe Enterprises

640 S Santa Fe Ave. 640 S Santa Fe Ave. = = 107,000 TBD Continuum Partners

405 S. Hewitt St. 405 S. Hewitt St. = = 255,000 15,000 Legendary Development

2159 E. Bay St. 2159 E. Bay St. = = 222,000 TBD Tishman Speyer

CHINATOWN

Kaiser Permanente Expansion 755 W. College St. = = 100,000 = Kaiser Permanente

FASHION DISTRICT

Norton Building 755 S. Los Angeles St. = = 60,000 43,000 Urban Offerings

JEWELRY DISTRICT

718 S. Hill 718 S. Hill St. = = 45,000 7,000 Urban Blox

CIVICLITTLE TOKYO

Budokan of Los Angeles 229-249 S. Los Angeles = = = = Little Tokyo Service Center

TOTAL PROPOSED29,891

ResidentialUnits

6,746Hotel

Rooms

1,483,000Office Sq. Ft.

2,535,000Retail Sq. Ft.

TOTAL # OF PROJECTS =

104

PROPOSED



FEATURED PROJECTS Major Mixed Use

UNDER CONSTRUCTION

METROPOLISDeveloper: Greenland

The first phase of this $1 billion project, including 308

condos and the 350-room Hotel Indigo, is now open, with

the remaining 1,000+ condos and 60,000 SF of retail space

expected in 2018.

PROPOSED

GRAND AVENUE PROJECTDeveloper: Related

Construction is scheduled to begin in 2018 on this

long-awaited Bunker Hill project. Designed by Frank Gehry,

it will feature over 400 residential units, a 305 room

Equinox Hotel, and over 200K SF of retail space.

UNDER CONSTRUCTION

OCEANWIDE PLAZA Developer: Oceanwide Holdings

Across from Staples Center and L.A. LIVE in South Park,

this $1 billion project will include 504 condos, 184 hotel rooms,

and almost 200,000 square feet of retail.

PROPOSED

1020 S. FIGUEROADeveloper: Hazens

At a cost of $700 million, Downtown’s latest mega-project

in South Park will have 435 condos, 250 hotel rooms,

and 80,000 square feet of retail.



FEATURED PROJECTS ResidentialFEATURED PROJECTS Residential

OPENED IN Q3Name Neighborhood Description

Sofia City West 640 apartments from Holland Partners

Seven West City West Smaller project with 87 units on 7th Street

STOA Little Tokyo 238 units between Main and Los Angeles

Olympic & Olive South Park Mix of 201 furnished and unfurnished units

Axis on Twelfth South Park First of two from Forest City with 214 apartments

UNDER CONSTRUCTION

PARK FIFTH Developer: Macfarlane Partners

Across from Pershing Square, construction is well underway on Park Fifth,

consisting of a 24-story tower and a 7-story building with a total of 660

residential units and 24,000 SF of retail space.

UNDER CONSTRUCTION

GRAND HOPE LOFTS Developer: CIM Group

Next to the newly-opened Petco, CIM Group’s

project, which will have 526 residential units,

is now topped out at 33 stories.

UNDER CONSTRUCTION

AMP LOFTSDeveloper: Bolour Associates

Across the street from Warner Music’s new headquarters in the Arts District,

this project includes 320 apartments and 20,000 SF of retail.



Q3 SELECT LEASESTenant Building Address Sq. Ft.

Ernst & Young 725 S Figueroa St. Ernst & Young Plaza 120,695

Merrill Lynch 350 S Grand Ave. 2Cal 51,954

Analysis Group 333 S Hope St. Wells Fargo Plaza 37,135

Metrolink 900 Wilshire Blvd. Wilshire Grand Center 30,000

Bank of China 444 S Flower St. Citigroup Center 18,499

FEATURED PROJECTS Office

UNDER CONSTRUCTION

ROW DTLADeveloper: Atlas Capital

Transformation of 1.5 million SF of industrial space into a

creative destination is underway with the first retail and

office tenants taking occupancy.

UNDER CONSTRUCTION

BROADWAY TRADE CENTERDeveloper: Waterbridge Capital

With over 1 million square feet of space that

has been vacant for years, this project will activate almost

a full city block at Broadway and 8th in the Historic Core.

UNDER CONSTRUCTION

LA JEWELRY MARTDeveloper: Atlas Capital

Built in 1917 in the heart of the Financial District,

this project features 85,000 SF of office space at 14,000 SF

of ground-floor retail.

UNDER CONSTRUCTION

FORD FACTORYDeveloper: Shorenstein

The former Ford Factory in the Arts District is being revitalized as

a state-of-the-art 250,000 square foot office destination that will

be the new home of Warner Music Group in 2018.



SweetGreenHealthy SpotSculptHalal GuysEarl of SandwichLittle Fluffy Head

Le Box BlancThe LoitThe MightySpire 73CoffeeWalk YogurtalkNossa Familia

PBJ.LABlacksmithsCorporation Food HallCOSFirenzaSweetfin

FEATURED PROJECTS Retail

Q3 SELECT RETAIL OPENINGS

UNDER CONSTRUCTION

CAPITOL MILLING BUILDINGDeveloper: S&R Partners

Located in Chinatown next to the new State Historic Park,

this project will revitalize 5 industrial buildings dating

from 1881 and create over 50,000 square feet of food and

beverage options mixed with creative office.

UNDER CONSTRUCTION

AT MATEO Developer: Blatteis & Schnur

This mixed office and retail project in the Arts District will

feature open-air pedestrian walkways and architecture that

reflects the industrial surroundings.

UNDER CONSTRUCTION

CITY MARKET SOUTHDeveloper: LENA Group

Originally part of the oldest produce market in Los Angeles,

this project promises to bring a new level of dining, retail and

creative office to the heart of the Fashion District.



FEATURED PROJECTS Hotel

UNDER CONSTRUCTION

PARK HYATTDeveloper: Oceanwide

The 183 room hotel component of Oceanwide Plaza is the first

Hyatt in DTLA, adding to the growing mix of operators.

UNDER CONSTRUCTION

NOMAD HOTELDeveloper: Sydell Group

This renovation of historic Giannini Place is the second project

from the Sydell Group within one block.

UNDER CONSTRUCTION

REGIONAL CONNECTORDeveloper: Metro

The 1.9-mile, $1.75 billion underground light rail extension,

set to open in 2021, will provide a one-seat ride for north/south

and east/west travel across Los Angeles County through

the heart of Downtown.

UNDER CONSTRUCTION

6TH STREET VIADUCTDeveloper: City of Los Angeles

The iconic Sixth Street Viaduct is being replaced. The new bridge’s

community features will enhance the connection between the Arts

District on the west side of the Los Angeles River and historic Boyle

Heights on the east side. Completion is scheduled for 2019.

Civic & Cultural



SPOTLIGHT ON DTLA Local Media

L.A. OFFICIALLY AWARDED 2028 OLYMPIC GAMESInternational Olympic Committee members voted their approval with a show of hands at a session in Lima, Peru, ending an unusual bid competition that resulted in two winners, with Paris simultaneously awarded the 2024 Games. — LA Times, 9/13/17

LOS ANGELES CONVENTION CENTER JUST WRAPPED UP ITS BEST YEAR EVERIn the fiscal year that ended June 30, the Convention Center hosted 33 large conventions, two more than during the previous 12-month period, and had an occupancy rate of 74%, compared with 72% in the previous 12-month period. Occupancy was 57% during the last full fiscal year that the city ran the center. — LA Times, 7/27/17

GRAND AVENUE PROJECT FILES FOR CONSTRUCTION PERMITSLate last year, the long-stalled Grand Avenue Project received a $290-million life line from the Chinese real estate firm CORE, who is now partnering with Related Companies on the $1-billion mixed-use complex across the street from the Walt Disney Concert Hall. — Urbanize.la, 8/11/17

MASSIVE VANS FLAGSHIP STORE COMING TO BROADWAY IN DOWNTOWN LAVans, one of the world’s most popular shoe brands, has recently signed a lease to occupy the entire ground floor retail space at the historic 1930 Singer Sewing Machine Building. — DTLA Rising, 7/21/17

FILM PRODUCTION COMPANY TO RELOCATE TO FASHION DISTRICTJoe and Anthony Russo, the sibling directors behind box office hits Captain America: The Winter Soldier, Captain America: Civil War and You, Me and Dupree are moving their offices and companies to an 18,300-square-foot office space in City Market South in the Fashion District. — Downtown News, 8/4/17

HIGH-TECH ARCADE TWO BIT CIRCUS COMING TO THE ARTS DISTRICTAbout 10,000 square feet will serve as office and experiment space for its approximately three dozen employees, while the remainder will hold a kind of high-tech version of Dave & Busters, with food, a bar and a thick roster of interactive games. — Downtown News, 8/3/17

TECH FIRM LEAVING SANTA MONICA FOR DOWNTOWNGimbal, which makes a platform for marketing and advertising, has announced that it will trade its Santa Monica offices for the Central City. The company will move into a 12,600-square-foot space in the 30-acre Row DTLA complex in the Industrial District. — Downtown News, 7/11/17



SPOTLIGHT ON DTLA US & Global Media

APRIL, 2017DOWNTOWN LOS ANGELES IS AMERICA’S MOST COLORFUL NEIGHBORHOOD

“One Los Angeles neighborhood, at least, offers something more colorful--and arguably better--than anything else in the U.S. It is the city’s downtown area, better known here to locals as ‘DTLA.’”

APRIL, 2017LOS ANGELES’ NEW TECH SCENE FLOURISHES DOWNTOWN

“Digital-media hubs have sprouted up all over Los Angeles in recent years in areas such as Venice, Playa Vista, and Culver City. But now the city’s downtown is also becoming a hot spot for a growing number of tech-minded firms.”

OCTOBER 2016IT’S OFFICIAL: WARNER MUSIC GROUP MOVING TO LOS ANGELES’

DOWNTOWN ARTS DISTRICT“In a memo to staff on Oct. 7, WMG CEO Stephen Cooper announced the relocation to the downtown

Arts District…an up-and-coming area that boasts “a burgeoning art, fashion, and food scene that’s a magnet for businesses, entrepreneurs, and creatives...”

APRIL 2016DOWNTOWN LA: WHY NOW’S THE TIME TO VISIT AMERICA’S HIPPEST ‘HOOD“The city [of Los Angeles] is sunny and diverse…but it’s also enormous and the traffic is a snarling mess. To get under its skin, you need a neighbourhood focus. And that neighbourhood should be Downtown.”

FEBRUARY 2016 ART SCENE HEATS UP IN DOWNTOWN LOS ANGELES

“While it’s unlikely that Ms. Kardashian will be partying in the Arts District anytime soon, the art openings there have become a social circuit, with blue-chip galleries and adventurous collectors mixing with

notable artists, newer spaces and assorted hangers-on.“

PLEASE CONTACT THE DCBID WITH ANY QUESTIONS YOU MAY HAVE.

EVENTS I MAPS & GUIDES I RESTAURANTS I RESEARCH & REPORTS

NICK GRIFFINVice President of Economic Development

(213) 416-7522

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ELAN SHOREAssociate Director of Economic Development, Research & Special Projects

(213) 416 -7518

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Documents

THIRD QUARTER, 2OI7 DOWNTOWN LA MARKET …€¦ · and a range of high-end amenities that will be located just a block from the new headquarters of Warner ... Macfarlane Partners