People want to live, work, and play in Los Angeles. Over 42,470 people moved into the area during 2016-2017, pushing LA to a new milestone this year: 4 million residents. Population growth is causing a surge of development and investor interest in the neighborhoods across the city. Redevelopment is obvious in districts like Downtown LA, with the surge of high-rise cranes signaling new residential and mixed-use towers. Where are other good bets for investors seeking redevelopment properties?
South Los Angeles
The city’s planning commission recently adopted new community guidelines for South LA, with a focus on revitalizing commercial real estate and transit-oriented development. Already, there’s a $700M mixed-use project underway and there have been plans for a $1.2 billion residential, hotel, and retail complex. The neighborhoods included in South Los Angeles–Historic South-Central, Vermont Square, Florence, and Watts–could grow by 43,000 residents by 2035.
Koreatown/Wilshire Center
Over 40+ redevelopment projects are in the works now around Koreatown. The redevelopment will completely transform how the neighborhood looks. Much of the work centers on transportation connections. The Koreatown and Wilshire Center projects represent a range of markets and economic levels. Under construction, or recently announced, developments underway in Wilshire Center include a $20M retail and restaurant complex, a 22-story luxury high rise, and a 390-unit multi-family affordable housing building with commercial space.
East Hollywood
Housing redevelopment is hot in East Hollywood. This area has a centralized location, multiple public transportation stops, and a top-rated dining scene. East Hollywood is home to the trendy neighborhoods of Los Feliz and Silver Lake. Scroll through Urbanize LA to see all types of redevelopment projects in the works such as medical center expansion, mixed-use developments, and more.
Exposition/University Park
Exposition Park is at the center of Olympic 2028 plans, positioning the area as ripe for all types of development: commercial, hotel, multi-family, and more. There are already plans for a 298-room hotel and multi-use space. Local attractions like the Natural History Museum are expanding. Plus, the area has a high-interest draw with other attractions like the LA Sports Arena and other museums.
Not sure how your potential projects may be impacted by redevelopment? The Community Redevelopment Agency (CRA) publishes frequent updates on which parts of town are expecting new development opportunities.