Massive Art District Development Changes to Mixed Use

 Massive Mixed Use Arts District Development Continues

A development in the Arts District once slated for commercial is applying to change a portion of the project to residential (apartments for lease).  The investment and growth in the area for the past 5 years has been steady, and better than other parts of DTLA. Meanwhile, condo prices in the area have dipped a bit due to the influx of residential competition. As we all know, this is temporary once the development brings in more residents and demand.

https://la.urbanize.city/post/bjarke-ingels-designed-670-mesquit-development-could-cut-offices-more-housing

DTLA Prices Rising and Days on the Market Decreasing

With COVID-19 getting somewhat contained, the weather as glorious as ever, and the steady flow of transplants to Downtown from places like New York, San Francisco, London and Sweden, prices are either holding steady or going up. 

Just in the past 6 months, there have been high profile building projects nearing completion (Frank Gehry's Grand LA https://www.thegrandla.com/) , some completed (CMC in the Fashion District https://www.californiamarketcenter.com/) and a slew of new businesses opening, and long term leases being signed (Adidas, Forever 21), and EMCEE buying up the Museum Building, which will keep the momentum for the 8th street corridor.

The window for deals in DTLA is finally closing.