The latest developments in downtown Los Angeles reflect how the area is quickly growing in retail and restaurant space. Downtown LA is filled with history and historic buildings. And, in recent years, the city has seen a boom in construction and revitalization. Learn more about new projects that are being constructed in our community bringing thousands of square feet of retail and restaurant space!
Downtown LA’s development growth and revitalization have spread within the city as there is an increase in U.S. and foreign investment as well as rising property values. Los Angeles is now the second busiest city of construction nationwide as it is well positioned for future growth and development. There is an estimated residential population of 65,000 and over 10,000 units under construction which adds up to the increased number of developments. We recently published an article regarding the Wells Fargo Center’s $60 million makeover which has long been considered one of the best office addresses in downtown Los Angeles with approximately 5,000 people that work there each day.
Alongside our DDC headquarters, there is a proposed $1.2 billion Angels Landing development which will have two hotels, 425 apartments, 250 condominiums, an elementary school, 45,000 square feet of retail space, a food hall, and 50,000 square feet of parking space. The Angels Landing development is scheduled to open sometime in 2024 and estimates thousands of people to visit the site once it’s completed.
Furthermore, crew members are quickly reaching their completion date for the two-tower Circa development in DTLA as the exterior renderings are being completed with massive LED screens similar to those found in New York’s Time Square. The $500 million development consists of twin 35-story towers featuring 648 luxury apartments above 48,000 square feet of ground-floor retail space. In summary, downtown LA’s construction boom is the largest in nearly a century.