June 1, 2017 Comments Off on DTLA Growth Attracts New Wave of National Retailers Views: 624 California News, Los Angeles

DTLA Growth Attracts New Wave of National Retailers

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The continued residential boom in DTLA has attracted a steady influx of fashion, dining, grocery and services. That expansion is now drawing an increasing number of the national brands that appeal to Downtown’s broad demographics, according to Downtown Center Business Improvement District’s [DCBID] Q1 2017 Downtown Market Report.

DCBID’s Carol Schatz says, “The DTLA retail market has matured significantly. Where we once had to vigorously recruit basic services like grocery stores, landlords are now focused on curating just the right retail mix for their specific properties and expanding the range of offerings in each of Downtown’s unique neighborhoods.”

With 12,300 residential units currently under construction, the Downtown population is expected to swell to 85,000 from 65,000 over the next few years – a 30% growth. For the first time since the recession, more than 2,700 of those units are for-sale condos, a 47% increase.

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