Investment in DTLA
LA’s renaissance is driven by record-setting public and private investments in real estate, infrastructure and connectivity — the result of visionary city planning, thoughtful legislation and relentless dedication to renewal.
LA is having the largest development boom since the 1920s.
$30.5 billion total investment in DTLA from 1999 to 2018.
1999 was the catalyst. That was when the City Council passed the Adaptive Reuse Ordinance, a key directive that paved the way to convert underutilized office space into housing. As the cityscape changed, incoming residents needed places to shop, dine and play, and a mass of new businesses opened to meet the demand.
Also in 1999 the STAPLES Center consolidated the NBA’s LA Clippers and Lakers, and the NHL’s LA Kings into one central complex, which soon became the city’s premiere entertainment venue.
37M SF Class A office space + 5.4M SF proposed or under development
48,344 existing residential units + 36,295 proposed and under construction
80% hotel occupancy rate in DTLA — compared to 66% nationwide
DTLA is emerging as the most-desired destination for tech companies and talent.
Some of the nation’s leading innovation and media companies have relocated to DTLA, in fields that include media, music, gaming, social media, VR, AR, AI, and IoT; and a growing number of tech incubators supports the industry.
This migration is fueled by a $120 billion investment in LA Public Transit.
New Moves to DTLA
say DTLA is a desirable location for their industry
— a majority of whom are working or visiting near The Grand
DTLA’s share of LA sales tax receipts increased 21% from 2007 to 2019
Centrally-located and accessible, DTLA attracts people who are young, highly-educated and entrepreneurial in spirit.
– with a 25% projected population increase by 2025
have moved to DTLA in the past five years
say they are passionate about DTLA
DTLA residents’ median income
DTLA residents’ median age
have completed a 4-year degree or higher