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Downtown LA Market Report

YEAR-END 2015

Downtown Center Business Improvement District

2 Downtown Center Business Improvement District

Q4 2015 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 Downtown Los Angeles. The organization has been a catalyst in the transformation of Downtown into a vibrant 24/7 destination.

The mission of the Economic Development team is to improve and revitalize Downtown Los Angeles and bring investment and new businesses to the area. We provide special services our property owners, commercial and residential, and to potential investors in our district.

• Research and Information• Events and Marketing• Monthly Housing and Office Tours• Customized Tours and Reports

Whether you need information on new construction, 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 on all of Downtown LA.

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 right.

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 OVERVIEWResidential .................................................. 6

Retail ........................................................... 6

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

Hotel ........................................................... 7

2015 OVERVIEW .......................................... 8

DEVELOPMENT UPDATE

Commercial Development Map ............. 11

Residential Development Map ............... 12

Under Construction ................................. 14

Proposed .................................................. 16

FEATURED PROJECTS

Major Mixed-Use ..................................... 18

Residential ................................................ 20

Office ........................................................ 21

Retail ......................................................... 22

Hotel ......................................................... 23

Civic & Cultural ........................................ 24

SPOTLIGHT ON DTLA

Local Media .............................................. 26

US and Global Media .............................. 27

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Table of Contents

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11

24



With the Downtown Renaissance in full-swing, 2015 saw DTLA firing on all cylinders, with four quarters of growth in the five main sectors of the market.

It was a record-breaking year for construction starts – with a total of 18 new projects with over 3,800 residential units, 850,000 SF of retail space and 2 million SF of office space. 13 development projects were completed this year, bringing almost 2,000 new apartments to the market.

Significant transactions included the Ace Hotel’s sale and Sun Cal’s purchase of 15 acres in the Arts District. Rising Realty was a notable buyer and seller – cashing out of the Pac Mutual Building and doubling down on One Bunker Hill and Figueroa Courtyard.

ResidentialResidential demand held strong, with occupancy rates and average rents rising and the supply pipeline expanding with the announcement of several new large-scale developments, including mixed-use projects by The Hazens Group, Mack Urban and PRH.

OfficeThe office market continued to improve, with vacancy rates down and rents up on total leasing activity of 2.3 million sf. Several major creative office projects got underway – including the

Broadway Trade Center and Row DTLA, while Bunker Hill’s towers were revitalized by projects like DesignHive by Brookfield.

Retail The retail sector hit its stride with the opening of Whole Foods and Clifton’s Cafeteria, and is poised for significant growth with The BLOC nearing completion and major projects under construction in every district, including At Mateo, Broadway Trade Center, and Oceanwide Plaza, for a total of almost 2 million sf of new retail space.

Hospitality The hospitality sector got a boost with 2,500 hotel rooms under construction. New investments like the Sydell Group’s Nomad Hotel and AEG’s JW Marriott expansion will accommodate the growing number of visitors to DTLA, which hit almost 19 million in 2015.

Civic & CulturalDTLA’s civic and cultural sectors look bright as well, with The Broad’s launch an unqualified success, blue-chip gallery Hauser, Wirth & Schimmel preparing to open in the Arts District, and several major transportation, streetscape, and public park projects underway, including a complete re-envisioning of historic Pershing Square.

$3.24 Average Class A Rent

Per Square Foot

95.8%Apartment

Occupancy Rate

4.8% - Retail Vacancy Rate

2.4 million sq. ft. – 2015 Total Office Leasing Activity

$147.19 – YTD Hotel RevPar

Q4 KEY STATS

Executive Summary

974 New residential units

opened in Q4

1,260 New residential units

proposed in Q4

Whole Foods opened at 8th and Grand

WeWork opened their second location in DTLA

New plans announced for Downtown Car Wash site

Q4 KEY HIGHLIGHTS


Q4 2015 MARKET REPORTThe Desmond

Level DTLA

Whole Foods/eighth & grand

Clifton’s Cafeteria The Broad



RESIDENTIAL• Strong demand kept rental occupancy rates over 95%

while average rent rose to over $2,500 per unit.

• The long awaited openings of eighth & grand and

Hanover Grand Avenue added 974 rental units.

• Over 1,200 residential units were proposed, bringing

the total residential pipeline to over 26,000 units.

Market Overview

Q4 2015 Q4 2014

Apartment Occupancy Rate 95.8% 93.6%

Apartment Asking Rent Per Square Foot $2.78 $2.62

Average Effective Rent Per Unit $2,508 $2,359

Condo Sales 57 55

Condo Price Per Square Foot $644 $564

Source: CoStar, The Agency

RETAIL• The long awaited Whole Foods, occupying 41,000

square feet, opened at the corner of 8th and Grand.

• The opening of Burlington added another national

brand to the diverse mix of retail along Broadway.

• The Ratkovich Company neared completion of

The BLOC, which will soon add over 150,000 sf of

new retail and restaurants to the Financial District.

Q4 2015 Q4 2014

Vacancy Rate 4.8% 6.9%

Average Rent Per Sq Ft $2.59 $2.47

YTD Net Absorption 643,695 27,424

Source: CoStar

2m SQUARE FEET OF RETAIL SPACE UNDER

CONSTRUCTION

1.1m PROPOSED

10,170 RESIDENTIAL UNITS UNDER

CONSTRUCTION

15,334 PROPOSED

The BLOC



Market OverviewOFFICE• The former AT&T Center in South Park was renamed for

USC, now the building’s largest tenant.

• Law firm Munger Tolles & Olsen renewed their 150,500

sf lease at 350 Grand, while Boston Consulting Group

signed a new lease for 27,133 sf at City National Plaza.

• WeWork opened its second Downtown LA location –

a 93,464 sf space in The Gas Company Tower.

2,515 HOTEL ROOMS UNDER CONSTRUCTION

2,876 PROPOSED

HOTEL• British hotel operator Hoxton purchased 1060 S.

Broadway for their first location in North America.

• Argentina-based Fën Hotels was chosen to operate

the long-vacant Trinity Auditorium and Hotel Clark.

• Property owner Ben Neman submitted plans for a major

mixed-use development including a 373-room hotel at

the Downtown Car Wash site adjacent to LA LIVE.

Q4 2015 Q4 2014

YTD Occupancy Rate 75.4% 74.4%

YTD Average Daily Rate $195.10 $181.43

YTD RevPAR $147.19 $134.92

Source: CoStar, The Agency

Q4 2015 Q4 2014

Vacancy Rate 18.2% 19.4%

Class A Rent Per Square Foot $3.24 $3.21

Overall Rent Per Square Foot $3.12 $3.04

YTD Net Absorption 85,640 298,670

YTD Leasing Activity 2.4m 2.1m

Source: Cushman & Wakefield

2.5m SQUARE FEET OF OFFICE SPACE

UNDER CONSTRUCTION

225,000 PROPOSED

Wilshire Grand



2015 OverviewSIGNIFICANT REAL ESTATE SALESProperty Name Address Buyer Seller Price

Q4

The Roosevelt 727 W. 7th St. Blackstone Group Greystar Investment Group, LLC $100 million

One Bunker Hill 601 W 5th St. Rising Realty Downtown Properties Holdings $92 million

800 Wilshire Tower 800 Wilshire Blvd. Onni Group Lincoln Property Company $81.3 million

The Desmond 425 W 11th St. AEG Lincoln Property Company $48.5 million

AMP Lofts Site 695 S. Santa Fe Greystar Real Estate Partners Bolour Associates $43.4 million

1060 S. Broadway 1060 S. Broadway Ennismore of London Andrew Shayne $30 million

Santa-Mateo Industrial Complex 520-532 S Mateo St. Carmel Partners Erwin & Essie Appel

Trust of 1975 $24 million

Q3

PacMutual 523 W 6th St. Ivanhoe Cambridge Rising Realty Partners $200 million

LA Fashion Mart 1219 Stanford Ave. Young S Cho JADE Enterprises $137.9 million

Brunswig Square 360-374 E 2nd St. Jamestown Arenda Capital Management $60 million

405 Mateo 405 Mateo St. Hudson Pacific Zimmerman Development $40 million

1116-1120 S. Main 1116-1120 S Main St. JADE Enterprises Real Estate Group $24 million

Q2

ACE Hotel 927-933 S Broadway Chesapeake Lodging Trust Greenfield Partners $103 million

Avant South Park Apartments 1360 S Figueroa St. Essex Property

Trust, Inc.Cypress Equity Investments LLC $96.7 million

4th & Traction 963 E 4th St. Hudson Pacific Properties, Inc. Atlas Capital Group, LLC $49.3 million

Giannini Place 649 S Olive St The Sydell Group Chetrit Organization $39.3 million

1100 E. 5th 1100 E. 5th St. Boulevard Hospitality LLC John Rusconi $15 million

Q1

8th+Hope 801 S. Hope St. Essex Property Trust Wood Partners $200 million

6th & Alemeda Produce Mart 1205-31 Wholesale St. SunCal Lowe Enterprises $130 million

Figueroa Courtyard 221 N. Figueroa St. Rising Realty US Bank NA $84 million

1201 S. Grand 1201 S. Grand Ave. City Century RKDC Family Trust $26 million



SELECT OFFICE LEASES

2015 Overview

Tenant Building Address Sq. Ft.

Q4

Munger Tolles & Olson LLP 350 Grand 350 S. Grand Ave. 150,500

WeWork The Gas Company Tower 555 W. 5th St. 93,464

Alan Matkin Law Firm 865 Tower 865 S. Figueroa St. 44,248

Boston Consulting Group City National Plaza 515 S. Flower St. 27,133

Q3

Los Angeles Immigration Court City National Bank Building 606 S. Olive St. 72,210

DLR The BLOC 700 S. Flower St. 35,362

Cross Campus 800 Wilshire 800 Wilshire Blvd. 27,272

DoubleLine Wells Fargo Center 333 S. Grand Ave. 25,985

Q2

AECOM One California Plaza 300 S Grand Ave. 112,525

Soylent Broadway Media Center 207 S Broadway 16,400

ECMC Citigroup Center 444 S Flower St. 10,183

Q1

Capital Group Bank of America Plaza 333 S. Hope St. 323,000

City of Los Angeles 350 Grand 350 S. Grand Ave. 115,591

Hueston Hennigan PacMutual Building 523 W. 6th St. 21,000

464Arts District Brewing CoBurlington

Cento Pasta BarChegoGROW Market

H.D. ButtercupLittle SisterOtium

Urban SeoulVan Leeuwen Ice CreamWhole Foods

SELECT RETAIL OPENINGS

A.P.C. BoutiqueAmerican Tea RoomArticulum General StoreBarrel DownBomboBroken Spanish

Café GratitudeClifton’s CafeteriaFloyd’s BarbershopFogo De ChaoGROW MarketLe Petit Paris

Liberty TravelMalin + GoetzPhilz CoffeePitchoun BakeryPlease Do Not EnterRedbird

Shiekh ShoesSparkle FactoryTriple 8Uptown PupVespaioWittmore

Opened in Q4

Also opened in 2015



2015 Overview

RESIDENTIAL UNITS Before 1999 Since 1999 CurrentInventory

UnderConstruction

Total WhenComplete Proposed

Market Rate Rental 2,426 15,240 17,666 8,169 25,835 12,013

Condos 829 4,807 5,636 2,001 7,637 3,068

Affordable 8,371 3,776 12,147 0 12,147 253

Total 11,626 23,823 35,449 10,170 45,619 15,334

Estimated Population 60,618 17,391 78,008Estimated Population = #of units x 1.8 residents per unit x 95% occupancy rate

RESIDENTIAL INVENTORY

Financial District/Bunker Hilleighth & grand* (Residential)Hanover South Park (Residential)Level DTLA (Residential/Hotel)The Broad (Cultural)

Civic CenterDa Vinci Building 1 (Residential)

Arts DistrictLa Kretz Innovation Campus* (Office)

South ParkHanover Grand Avenue* (Residential)The Desmond* (Office)AVANT Phase 2 (Residential)

Historic CoreNew Broadway Lofts (Residential)Clifton’s Cafeteria (Retail)

Fashion DistrictStanford Plaza* (Retail)The Garment Lofts (Residential)

NEW DEVELOPMENTOpened in 2015

South ParkOceanwide Plaza (Mixed Use)Onyx (Residential)TEN50 (Residential)Circa (Residential)Mack Urban (Residential)

Historic CoreEighth & Spring* (Residential)Broadway Trade Center (Mixed Use)Vibiana Lofts (Residential)

Fashion DistrictThe Maxfield Building (Residential)The Los Angeles Proper (Hotel)Forest City 11H & 12B (Residential)Grether & Grether Building (Residential)939 S. Broadway* (Residential)

Financial District/Bunker Hill801 S. Olive (Residential)

Arts DistrictArthouse* (Residential)500 S. Santa Fe* (Office)ROW DTLA (Mixed Use)The Ford Factory (Office)AT MATEO (Retail)

Began Construction in 2015

* = Opened or Began Construction in Q4


Commercial Developmentn Existingn Under Construction/Renovationn Proposed As of 2/5/16

Opened or began construction in Q4


Q4 2015 MARKET REPORTResidential Developmentn Existingn Under Construction/Renovationn Proposed As of 2/5/16

Opened or began construction in Q4





Project Name Address ResidentialUnits

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Estimated Completion Developer

MAJOR MIXED USE

FINANCIAL DISTRICT

Wilshire Grand 900 Wilshire Blvd. = 900 350,000 15,000 2017 AC Martin

The BLOC 7th & Flower/Hope = = = 450,000 2015 The Ratkovich Company

Metropolis Francisco b/w 8th & 9th 1,310 C 350 = 65,000 2018 Greenland

HISTORIC CORE

Broadway Trade Center 8th & Broadway = 200 500,000 200,000 2017 Waterbridge

SOUTH PARK

Oceanwide Plaza 11th & Figueroa 540 C 183 = 180,000 2018 Oceanwide

RESIDENTIAL

ARTS DISTRICT

Arthouse 1200 S. Santa Fe Ave. 53 = = 13,000 2016 Core Development Group

Garey Building 905 E. 2nd St. 320 = = 15,000 2016 Megatoys & Lowe Enterprises

950 E. Third 950 E. 3rd St. 472 = = 26,000 201 Legendary Development

CHINATOWN

Da Vinci 909 W. Temple St. 230 = = 8,200 2016 GH Palmer Associates

Blossom Plaza 900 N. Broadway 240 = = 20,000 2016 Forest City Residential West

CITY WEST

Valencia 1501 Wilshire Blvd. 218 = = 4,500 2016 Astani Enterprises

6th & Bixel 611 S. Bixel St. 640 = = 25,000 2016 Holland Partners

1419 W. 7th 1419 W. 7th St. 87 = = 1,000 2016 Canfield Development

FASHION DISTRICT

Grether & Grether 730 S. Los Angeles St. 72 = = 11,000 2016 South Park Group

The Maxfield Building 819 Santee St. 96 = = 6,000 2016 Capital Foresight

FINANCIAL DISTRICT

888 Hope 888 S. Hope St. 526 = = TBD 2018 CIM

801 S. Olive 801 S. Olive St. 363 = = 10,000 2017 Carmel Partners

HISTORIC CORE

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

Eighth & Spring 737 S. Spring St. 320 = = TBD 2017 Holland Partners

Singer Sewing Building 806 S. Broadway 7 = = TBD 2016 Anjac Fashion

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

Broadway Palace Olympic & Broadway 686 = = 35,000 2016 GH Palmer Associates

932 S. Hill St. 932 S. Hill St. 18 = = 5,000 2016 Urban Investment Group

LITTLE TOKYO

Block 8-D 2nd & San Pedro 240 = = 16,000 2016 Sares-Regis Group

Vibiana Lofts 114 E. 2nd St. 238 = = 4,000 2017 Weintraub Real Estate Group

Development: Under Construction




Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Estimated Completion Developer

SOUTH PARK

Circa 1200 S. Figueroa St. 648 = = 40,000 2018 David Y. Lee

TEN50 11th & Grand 151 C = = 5,700 2016 Trumark Urban

Hanover Olympic 924 S. Olive St. 263 = = 14,000 2016 Hanover

1001 Olive 1001 S. Olive St. 201 = = 4,000 2016 Lennar

Olive and Pico 1200 S. Grand Ave. 640 = = 42,000 2016 Wolf Partners

Mack Urban Phase 1 11th, Grand, Pico, Hill 362 = = 6,000 2017 Mack Urban

E on Grand 1249 S. Grand Ave. 112 = = 5,000 2017 4D Development

Onyx 500 W. Pico Blvd. 410 = = 42,000 2017 Jade Enterprises

Forest City 11H 156 W. 11th St. 171 = = 7500 2017 Forest City

Forest City 12B 1201 S. Main St. 214 = = 7500 2017 Forest City

HOTEL

FINANCIAL DISTRICT

Freehand Hostel 416 W. 8th St. = 200 = = 2016 Sydell Group

Hotel Clark 426 S. Hill St. = 348 = = 2016 Chetrit Group

Embassy Hotel 851 S. Grand Ave. = 183 = = 2016 Chetrit Group

FASHION DISTRICT

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

OFFICE/RETAIL

ARTS DISTRICT

500 S. Santa Fe 500 S. Santa Fe Ave. = = 65,000 12,000 2017 Chalmers

AT MATEO Mateo & Palmetto = = = 200,000 2016 Blatteis & Schnur

Row DTLA (Alameda Square) 7th & Alameda = = 1,200,000 200,000 2016 Atlas Property

2045 Violet 2045 Violet St. = = 20,000 10,000 2016 DCM

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

FASHION DISTRICT

City Market South 11th & San Julian = = 30,000 100,000 2016 Peter Fleming

Harris Building 110 W. 11th St. = = 58,000 6,400 2016 Jade Enterprises

HISTORIC CORE

353 S. Broadway 353 S. Broadway = = 50,000 10,000 2016 Flatiron Development

527 S. Broadway 527 S. Broadway = = 70,000 8,000 2016 King's Arch

The Vail 735 S. Broadway = = 40,000 10,000 2016 George Peykar

CIVIC & CULTURAL

ARTS DISTRICT

Hauser Wirth & Schimmel 901 E. 3rd St. = = = = 2016 Hauser & Wirth

BUNKER HILL/CIVIC CENTER

Federal Courthouse 2nd & Broadway = = = = 2016 GSA

TOTAL UNDER CONSTRUCTION10,170

ResidentialUnits

2,515 Hotel

Rooms

2,754,000 Office Sq. Ft.

1,979,000 Retail Sq. Ft.

TOTAL # OF PROJECTS =

51

C = Condo

Development: Under Construction




Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft. Developer

MAJOR MIXED USE

BUNKER HILL

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

FASHION DISTRICT

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

SOUTH PARK

Mack Urban Phase 2 1120 S. Grand/1155 S. Olive 666 300 = 21,000 Mack Urban

1020 S. Figueroa 1020 S. Figueroa St. 650 C 250 = 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

RESIDENTIAL

ARTS DISTRICT

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

Industrial Street Lofts 1525 Industrial St. 360 = = 12,000 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. 234 = = 13,400 Bolour Assoc

CHINATOWN

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

College Station 924 N. Spring St. 685 = = 40,000 Evoq

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

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

FINANCIAL DISTRICT

Onni Tower 820 S. Olive St. 589 = = 4,500 Onni Group

5-OH 5th & Olive 312 = = 17,000 Macfarlane Partners

HISTORIC CORE

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

4th and Broadway 4th & Broadway 400 = = 7,000 Izek Shomof

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

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

Title Insurance Building 433 S. Spring St. 250 = = 40,000 Capital Foresight

The Chelsea 216 W. Fifth St. 28 = = TBD Nick Hadim

955 S. Broadway 955 S. Broadway 250 C = = TBD Barry Shy

Banco Popular 354 S. Spring St. 212 = = TBD Allen Gross

Beacon on Hill 4th & Hill 428 = = 2,900 Equity Residential

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

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

Development: Proposed




Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft. Developer

HISTORIC CORE (CONT.)

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

732 S. Spring 732 S. Spring St. 308 = = 7,200 Holland Partners

The Alexan 850 S. Hill St. 305 = = 7000 Trammell Crow

INDUSTRIAL DISTRICT

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

LITTLE TOKYO

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

SOUTH PARK

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

1133 Hope Tower 1133 S. Hope St. 208 C = = 5,000 Amacon

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

916 Georgia St 916 Georgia St. 29 = = TBD TRG

1400 S. Figueroa 1400 S. Figueroa St. 106 = = 4,750 DHG Family Trust

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

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

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

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

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

HOTEL

FASHION DISTRICT

Dart Hotel 820 S. Spring St. = 14 = = Juan Pablo Torre

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

JEWELRY DISTRICT

Foreman & Clark 701 S. Hill St. = 165 = = Young Ju Kwon

SOUTH PARK

JW Marriott Expansion Olympic & Georgia = 755 = = AEG

1130 S. Hope 1130 S. Hope St. = 44 = = Kevin Burke

OFFICE/RETAIL

ARTS DISTRICT

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

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

JEWELRY DISTRICT

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

TOTAL PROPOSED15,334

ResidentialUnits

2,876 Hotel

Rooms

225,000 Office Sq. Ft.

1,054,000 Retail Sq. Ft.

TOTAL # OF PROJECTS =

55

Development: Proposed

C = Condo



Featured Projects: Major Mixed Use

UNDER CONSTRUCTIONWILSHIRE GRAND

CENTERDeveloper: AC Martin

At 73 stories, this $1 billion undertaking in the Financial District will be the tallest building west of the Mississippi and the

first new office tower in Downtown in over 30 years when it opens in 2017.

UNDER CONSTRUCTIONMETROPOLIS

Developer: GreenlandThis $1 billion project in South Park will include 1,310 condos, a 350 room Hotel Indigo, and over 60,000 square feet of

retail to be completed 2016-2018.



PROPOSED1020 S. FIGUEROA

Developer: HazensAt a cost of $700 million, Downtown’s latest mega-project in South Park will

have 650 condos, 250 hotel rooms, and 80,000 square feet of retail.

UNDER CONSTRUCTIONOCEANWIDE PLAZA

Developer: OceanwideAcross from Staples Center and L.A. LIVE in South Park, this $1 billion project will

include 540 condos, 183 hotel rooms, and almost 200,000 square feet of retail.



Featured Projects: Residential

UNDER CONSTRUCTION801 S. OLIVE

Developer: Carmel PartnersAcross the road from their just-opened eighth and

grand project, Carmel Partners has begun construction on this 33 story tower in the Financial District with 363

apartments and 10,000 square feet of retail.

UNDER CONSTRUCTIONOLIVE & PICO

Developer: Wolff PartnersWith 640 apartments and 42,000 SF of retail space, this is one of four projects under construction along

Pico Blvd in South Park.

UNDER CONSTRUCTIONEIGHTH & SPRING

Developer: Holland PartnersThe first of several new high-rise projects in the

pipeline near the Historic Core, this development will have 320 residential units and significant ground

floor retail space.

UNDER CONSTRUCTIONTEN50

Developer: Trumark UrbanOne of three condo projects under construction,

this 22-story tower in South Park will have 151 units, ranging in size from 700-1,350 square feet.



Featured Projects: Office

UNDER CONSTRUCTIONROW DTLA

Developer: Atlas CapitalThis massive undertaking in the Arts District will transform 1.5 million SF of industrial space into a creative office and

retail destination.

UNDER CONSTRUCTIONBROADWAY TRADE CENTER

Developer: Waterbridge CapitalWith over 1 million square feet of space that

has been vacant for years, this project will transform almost a full city block at Broadway and 8th in the Historic Core.

PROPOSED4th AND TRACTIONDeveloper: Hudson Pacific

The former Coca-Cola bottling facility in the Arts District is being revitalized into a high-design creative space with

luxury amenities.

UNDER CONSTRUCTIONFORD FACTORY

Developer: ShorensteinScheduled to open in 2017, the former Ford Factory in the Arts

District is being revitalized into a state-of-the-art 250,000 square foot office destination for creative and knowledge-sharing companies.



Featured Projects: Retail

UNDER CONSTRUCTIONCITY MARKET SOUTH

Developer: LENA GroupOriginally 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.

UNDER CONSTRUCTIONTHE BLOC

Developer: The Ratkovich CompanyThis summer, the roof came off the former

Macy’s Plaza, which will re-open in 2016 as an open-air, pedestrian-friendly retail center anchored

by a completely renovated Macy’s flagship store in the Financial District.

UNDER CONSTRUCTIONAT MATEO

Developer: Blatteis & SchnurThe largest retail project in the Arts District will feature

open-air pedestrian walkways and architecture that reflects the industrial surroundings.



PROPOSEDNOMAD HOTEL

Developer: Sydell GroupThis is the second project from

the Sydell Group within one block, with construction already

underway on their Freehand Hostel.

UNDER CONSTRUCTIONTHE LA PROPER

Developer: KOR GroupSituated south of the Ace Hotel,

this historic conversion in the Fashion District promises to expand the boundaries of Broadway’s revival.

PROPOSEDJW MARRIOTT EXPANSION

Developer: AEGFormerly proposed as a Renaissance Hotel, AEG has chosen to move forward with an expansion that will bring over 700 rooms and a pedestrian

bridge for better access to the Convention Center.

2015 DTLA TOURISM DATA FROM L.A. TOURISM & CONVENTION BOARD

Featured Projects: Hotel

18.9mTotal number of visitors

to DTLA

1.3mTotal number of

hotel guests in DTLA

4.4 Average number of days staying in a hotel in DTLA

$84.50Average daily spend per person in DTLA



UNDER CONSTRUCTIONEXPO LINE EXTENSION

Developer: MetroThis light rail line is already a massive success from 7th/Metro Center to Culver City. The extension to

Santa Monica, opening early 2016, promises to reshape how people think about transit and create new opportunities for Downtown and connections

to the Westside.

UNDER CONSTRUCTIONREGIONAL CONNECTOR

Developer: Metro This 1.9-mile underground light rail extension set to

open in 2020 will provide a one-seat ride for north/south and east/west travel across Los Angeles County through

the heart of Downtown.

Featured Projects: Civic & Cultural

UNDER CONSTRUCTION6th STREET VIADUCT

Developer: City of Los AngelesThe iconic Sixth Street Viaduct is being demolished

and replaced. The new bridge’s community features will enhance the vital connection between the growing Arts District on the west side of the Los Angeles River and

historic Boyle Heights on the east side.



UNDER CONSTRUCTIONLA STATE HISTORIC PARKDeveloper: California Department

of Parks and RecreationThis 32-acre park adjacent to Chinatown is undergoing a multimillion-dollar renovation including new permanent facilities, pathways, and unique spaces for public events.

PROPOSEDPERSHING SQUARE

Developer: Pershing Square Renew and City of Los Angeles

Made possible through a collaboration between government, community and business, an international design competition is underway that will transform the

city’s oldest park into a world-class public space.

PROPOSEDLA CONVENTION

CENTER RENOVATIONDeveloper: City of Los Angeles

Moving forward without a football stadium, the LA Convention Center has chosen a design by HMC

Architects and Populous that will expand and modernize the facility to help attract top-tier events to Downtown LA.

Featured Projects: Civic & Cultural



12/21/15HERE ARE THE FOUR TEAMS THAT WILL COMPETE TO REDESIGN DOWNTOWN LA’S HATED PERSHING SQUARE After opening the competition in September, officials with Pershing Square Renew chose 10 preliminary proposals for a redesign. Now, they’ve whittled those 10 semifinalist teams down to just four. — Curbed LA

12/8/15 FIRST METROPOLIS HIGH-RISE TOWER TOPS OFF IN DOWNTOWN LAChinese developer Greenland USA topped off their first tower with a ceremony marking another big step forward as the massive 6.3 acre site begins to truly take shape with all four towers now rising simultaneously. — DTLA Rising

12/7/15 DOWNTOWN OFFICE VACANCY RATE FALLS The Downtown Center Business Improvement District last week announced that the office vacancy rate in the third quarter of the year was 18.4%, down from 20.4% in the same period in 2014. — Downtown News

11/17/15 FËN HOTELS FLAG CHOSEN FOR TRINITY AND CLARK IN DOWNTOWN LA The long-vacant Trinity Auditorium and Hotel Clark — two historic gems owned by NY-based Chetrit Group — are finally about to open early next year as two new boutique hotels under the Fën Hotels brand from South America. — DTLA Rising

11/11/15IS THE NEW WHOLE FOODS A GAME CHANGER FOR DOWNTOWN LOS ANGELES? For Andrew Culp, who has lived in downtown Los Angeles for the last two years, a simple grocery shopping trip has been an expedition. So you might have some understanding of how he feels about the new Whole Foods at Eighth and Grand: “At the risk of sounding ridiculous,” Culp said, “I think this new Whole Foods is going to change my life.” — LA Times

Spotlight on DTLA: Local Media



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SEPTEMBER 2015WHY EVERYONE SHOULD STAY IN DOWNTOWN L.A.

“Thanks to an influx of exciting restaurants and bars, as well as the arrival of L.A. Live, Downtown L.A., affectionately called DTLA, is becoming a must-visit neighborhood in Los Angeles, even for Angelenos.”

MAY 2015LOS ANGELES AND ITS BOOMING CREATIVE CLASS LURES NEW YORKERSLong a gritty urban backwater, Downtown has become a trend factory, brimming with Beaux-Arts loft condos, galleries,

groundbreaking restaurants like Baco Mercat and, inevitably, a new Ace Hotel to serve as “Portlandia” south

DECEMBER 2014 10 TOP DESTINATIONS TO VISIT IN 2015

“Exciting new hotels like the Ace, stores like Acne Studios and food venues like the revamped Grand Central Market – in addition to the recently completed $3 billion sports and entertainment complex known as LA Live – have injected downtown with a jolt of energy that’s helped lure visitors and residents away from LA’s sunny

perimeter and into its urban core.”

AUGUST 2014 THE BEST NEW RESTAURANTS IN AMERICA 2014

“Over the past year, Grand Central Market, much like the rest of Downtown L.A., has seen a remarkable renaissance. When I first started going to GCM a decade ago, it was for tacos and a glimpse into a world much different than what you’d find in, say, Malibu. It was authentic, if a bit gritty. Some of the food was good; much

of it wasn’t. But now, with new stands joining the fray, it’s great... it’s that rich and varied diversity that makes the market—and Los Angeles as a whole—unique.”

JANUARY 2014 AMERICA’S NEXT GREAT CITY IS INSIDE LA

“The new capital of cool in the US…America’s new great city.”

Downtown Center Business Improvement District


Spotlight on DTLA: US & Global Media

PLEASE CONTACT THE DCBID WITH ANY QUESTIONS YOU MAY HAVE.NICK GRIFFINDirector of Economic Development (213) [email protected]

ELAN SHOREEconomic Development Associate Research and Special Projects(213) 416 [email protected]

JULIA MARINOEconomic Development Associate(213) 416 [email protected]