Has DTLA Peaked? We Don’t Think So!
It’s clear — DTLA has grown at a pretty astonishing rate. The area has been experiencing an amazing transformation over the last decade or so. At WREN, we’re proud that our apartment community has contributed to this incredible neighborhood. But, as comes with any revitalization venture, the question that often arises is, “What’s next for DTLA?” While many in our community wonder if DTLA’s best days are behind us, a closer look at the data shows that actually, there’s still a lot left in DTLA’s bright future.
Vacancy Rates? Not here!
It’s easy to look at the general DTLA vacancy rate of more than 15% and assume that expansion is slowing; however, there is more at play here. As Urbanize LA theorizes, some new developments can wait up to a year to fill units. This leaves us scratching our heads, because at WREN, we’ve noticed just the opposite. Our multi-use DTLA apartments are currently 97% leased up. We can attribute this figure to a few factors:
- We’re located in the heart of South Park, LA which puts us smack dab in the middle of the best features of DTLA.
- We are active and visible in the downtown/South Park community, so much so that we’ve been recognized as the best low-rise development in Downtown Los Angeles.
From amenities such as an on-site restaurant and private park right down to the design details of each apartment home, WREN fosters an environment that is complementary to a multitude of Angeleno lifestyles.
Downtown LA May Be Beyond Just a Revitalization
Circling back to the Urbanize LA article mentioned before, the populace numbers show an interesting trend. Since the beginning of the downtown renaissance, the population has increased from around 18,000 to 70,000. Further proposed developments are slated to result in a resident increase of nearly 130,000.
That number would bump DTLA out of the “district” category and into the realm of a full-fledged city.
At this point, you may be wondering how such a boom can be predicted. The downtown area has seen an influx of companies in all types of sectors, and it shows no sign of slowing down. At WREN, we witness it every day. It’s thrilling to see a continuous wave of new restaurants, hotels, entertainment venues, retail shops, and cultural institutions – folks are naturally drawn to these things.
What’s next for DTLA
Plenty of folks are talking about all the new and upcoming excitement in DTLA.
Check out this article from Curbed, that features a map showing all the new different developments coming to South Park, DTLA.
- * Screen Cap from Curbed LA
This LA Magazine article covering an artist space in DTLA is indicative of the rich culture this area embodies.
- *image from LA magazine article
Stay up on Brigham Yen’s blog, he covers all new and exciting things coming to DTLA.
*image from Brigham Yen’s blog
WREN is Perfectly Outfitted for the DTLA of Today and Tomorrow
We touched upon our DTLA apartments earlier but we thought it prudent to elaborate a bit more. WREN consists of two signature buildings where, inside and out, you find high-end amenities and features that optimize a downtown life both now and in the future:
- A large, state-of-the-art fitness center
- Two indoor/outdoor rooftop decks
- Business center and conference room
- Pool and pool cabana
- Club lounge with TVs, full kitchen, games, and access to a patio with BBQ area
- Hobby room and bike storage
- Pick-up/deliver dry cleaning service
- Automated package lockers
- Dog runs and wash station
- Reserved parking available including EV stations
You can have a front-row seat to all the exciting action in DTLA! Contact WREN about living in premier DTLA apartments!