Downtown L.A.’s Arts District is experiencing a real estate development boom.
“It has been one of the hottest development markets in the country,” said Nick Griffin, executive director of the Downtown Center Business Improvement District.
“There are huge sites that were either surface parking lots or one-story warehouses, which are very easy to develop,” he said.
The mixed-use Row DTLA is an example of a thriving blend of office, retail stores and restaurants. “That’s been a real success story there,” Griffin said. “It anchors the southern part of the Arts District in a way that will continue to shape the future of the Arts District.
Now, as you will see on the following pages, a wide variety of assets are being developed in the area, from multifamily to office to studio spaces.
— Michael Aushenker
Inside this Section:
5 Questions With Lowe’s Tom Wulf
BY THE NUMBERS-Arts District
OFFICE
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- INVENTORY: 2.4 million square feet
- VACANCY RATE: 22%
- ASKING RENT: $3.60 per square foot
- UNDER CONSTRUCTION: 168,000 square feet
- YEAR TO DATE NET ABSORPTION: -30,000 square feet
- PROPOSED: 2.5 million square feet
MULTIFAMILY
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- INVENTORY: 2,166 units
- VACANCY RATE: 5.5%
- ASKING RENT: $3,028 per unit
- UNDER CONSTRUCTION: 475
- YEAR TO DATE UNITS DELIVERED: 0
- YEAR TO DATE UNITS ABSORBED: – 48
- PROPOSED: 4,357 units
KEY PROJECTS
ALLOY 
LOCATION: 520 Mateo St.
DESCRIPTION: Once completed, Alloy will be the Arts District’s first high-rise. The mixed-use, 35-story tower will have 475 apartment units, 105,000 square feet of office space and more than 20,000 square feet of ground-floor retail.
DEVELOPER: Carmel Partners
ARCHITECT: Hunter Kerhart
ESTIMATED COMPLETION DATE: 2027
AVA ARTS DISTRICT 
LOCATION: 668 S. Alameda St.
DESCRIPTION: AVA will be a seven-story, low-rise residential building with 475 apartments above 61,000 square feet of ground-floor commercial space.
DEVELOPER:…
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