March 1, 2016
The Downtown Center Business Improvement District confirmed 2015 set records for development in DTLA. DCBID tracked 18 new projects that broke ground last year, encompassing some 3,800 residential units, 850,000 square feet of retail space, and two million square feet of office space.
The group’s just-released annual Market Report found that the total commercial leasing volume reached 2.4-million square feet, an increase of 14 percent over 2014. Additionally, there are 10,170 residential units currently under construction, and more than two million square feet of retail space under active development.
DCBID’s Carol Schatz says, “One gaze across the skyline will tell you all you need to know about the state of Downtown. We are in growth mode.”