DOWNTOWN LA ABOUT THE DCBID Figueroa St. 1st St. Hope St. Grand Ave. 110 Freeway 6th St. Broadway BUNKER 7th St. HILL FINANCIAL DISTRICT J. Wood Blvd. 4th St. Main St. 8th St. 9th St. Flower St. Hope St. Olympic Hill St. Founded in 1998, the Downtown Center Business Improvement District (DCBID) has been a catalyst in Downtown Los Angeles’ transformation into a vibrant 24/7 neighborhood. A coalition of nearly 2,000 property owners in the Central Business District, the DCBID members are united in their commitment to enhance the quality of life in Downtown Los Angeles. Bounded by the Harbor Freeway to the west, First Street to the north, Main and Hill streets to the east, and Olympic Boulevard and 9th Street to the south, the organization helps the 65-block Central Business District achieve its full potential as a great place to live, work, and play. DCBID services include: • 24 Hr. Safety and Maintenance Services – “The Purple Patrol” • Economic Development and Business Recruitment/Retention programs • Strategic Marketing Programs that promote the area to residents, workers and visitors. For more than 20 years, these programs and initiatives have been the driving force behind the Downtown Los Angeles Renaissance that has seen the city become one of the nation’s most dynamic urban centers. 2 Downtown Center Business Improvement District I Retail Report 9 INSIDE 4 RETAIL IN THE CITY OF DTLA 6 MAP OF DTLA 8 FINANCIAL DISTRICT 10 7th STREET CORRIDOR 12 JEWELRY DISTRICT 13 BUNKER HILL 14 SOUTH PARK 16 HISTORIC CORE 18 ARTS DISTRICT 20 FASHION DISTRICT 22 LITTLE TOKYO 13 23 CHINATOWN 24 STATISTICS 22 Retail Report I Downtown Center Business Improvement District 3 RETAIL IN THE CITY OF DTLA owntown LA is becoming a city unto itself. It’s still Dthe Downtown of Greater Los Angeles and the economic engine of the Southern California region, but it is also evolving at a pace and scale that are catapulting it onto the global stage. It is an agglomeration of unique districts from Bunker Hill to South Park, Historic Core to the Arts District – at the center of a constellation of some of the city’s most appealing neighborhoods like Silver Lake, Echo Park, Koreatown, Boyle Heights, and South LA. It is also the hub of LA – in the dynamic diversification of brought critical anchors like Whole County’s rapidly expanding Metro the office sector with its expanding Foods, City Target, and a Macy’s system, extending its gravitational ecosystem of tech and creative flagship, along with forward- pull far beyond its boundaries, companies; in the residential looking national brands like Urban north, south, east and west, and sector, with its explosive growth, Outfitters, H&M, Zara, and A.P.C. connecting it to a massive regional impressive demographics and As this phase evolves into the next, market unparalleled in its breadth strong community spirit; in the DTLA is seeing an even bigger and diversity. hospitality and tourism sector wave of national and international Over the past two decades, with its diverse mix of new hotels brands in every category: retailers Downtown has undergone a serving a dramatically increasing such as Uniqlo, West Elm, phenomenal renaissance, but now number of visitors – both tourists Nordstrom, Theory, COS, Vans, and the big story is the next phase and business travelers; and in the the Jordan Brand Store; upscale of that transformation – DTLA cultural sector with its world-class coffee purveyors from Blue Bottle 3.0. With more development collection of arts and educational to Stumptown; and popular fast- than at any time since the institutions and broad array of casual chains like Shake Shack and 1920’s, Downtown is booming. sports and entertainment offerings. SweetGreen, alongside a culinary The population has quadrupled Keeping pace with, serving scene rivalling that of any world- from 18,000 to 80,000+ and is and supported by the growth class city. projected to increase to 200,000 in all these areas, the retail And what world-class city by 2040. Coupled with a weekday sector has reached a tipping doesn’t have an Apple Store? The population of close to 500,000, point and is poised to leap to company’s Downtown flagship and a concentration of business, the next level. The first phase at the historic Tower Theater culture and civic institutions of Downtown’s revitalization on Broadway will be something unrivalled in the region, DTLA is brought a combination of basic special and transformative for clearly ascending to new heights. amenities and services along DTLA: “In the upper echelon of That rise can be seen in all with pioneering restaurants and what Apple does, it very much sectors of the Downtown market boutique retailers. The second differs from the other Apple stores 4 Downtown Center Business Improvement District I Retail Report you see in L.A. This will be a mecca, DTLA BY THE NUMBERS because of all the talent that is around Los Angeles,” according to BJ Siegel, senior director of retail design at Apple. Apple’s arrival marks a watershed moment for Broadway - which is making a triumphant return to its glory days as a prime retail corridor. Unlike that previous era, today’s Broadway is definitely 5.84 80,000+ 500,000 not Downtown’s only prime retail Square Miles Residents Weekday Population area. Like the world-class cities it is coming to resemble, DTLA is building multiple shopping hubs – from FIGat7th, The Bloc, and 7th RESIDENTIAL DEVELOPMENT Street’s Restaurant Row to the Arts INVENTORY PIPELINE District’s Row DTLA and South Park’s LA Live/Convention Center complex. Other game-changing developments 39,000 delivering large blocks of retail space Residential Units to the DTLA market in the coming years include The Grand (200,000sf), 11,420 City Market (225,000sf), Oceanwide 27,616 Hotel Rooms Plaza (166,000sf), and Broadway Market Rate Apartments Trade Center (200,000sf). Together, 5.5 Million these projects will give Downtown Square Feet of Office Space a truly dominant scale of retail, 6,760 with a variety of offerings and Condominiums 3.5 Million diversity of experiences that simply Square Feet of Retail can’t be matched anywhere else in the region. HOSPITALITY But scale and square footage isn’t even the real story of DTLA. 8,824 With eight unique districts, each Hotel Rooms with its own special personality and positioning, every retailer – from large chains to quirky boutiques $221 Average Daily Rate – can find locations ideally suited to their respective brands and concepts. And what those CURRENT DTLA RETAIL INVENTORY businesses will find in Downtown is streets bustling day and night with a vibrant population of residents, 25 Million Square Feet workers, and visitors passionate about a place where fashion and Vacancy Rate food, art and culture, community 5.9% and commerce all convene in celebration of urban life in the New $3.05 Average Monthly Downtown – the beating heart of Quoted Leasing Rate the City of Angels. Source: CoStar Retail Report I Downtown Center Business Improvement District 5 DOWNTOWN LOS ANGELES RETAIL HUBS 6 1 LA LIVE 4 • Lucky Strike Lanes 3 • Regal Cinemas 5 • Ritz-Carlton Spa 1 2 Oceanwide Plaza (UC) 7 2 8 3 Metropolis (UC) 9 4 FIGat7th • Bath & Body Works 10 • City Target • H&M • Lenscrafters • MAC Cosmetics • Nordstrom Rack • Victoria’s Secret • Zara 5 The Bloc • Alamo Drafthouse Cinema • GNC • JOEY DTLA • LA Fitness • Macy’s • Nordstrom Local • Uniqlo 6 Downtown Center Business Improvement District I Retail Report 6 Grand Central Market • Belcampo Meat Co. • Eggslut • G&B Coffee • Horse Thief BBQ 11 • Lucky Bird 7 Broadway Trade Center (UC) 8 Apple Store (UC) 9 9th & Broadway • Acne Studios • Aesop • A .P.C. • BNKR • Theory • West Elm 10 Santee Alley 12 11 Capitol Milling building (UC) 14 12 Japanese Village • Popkiller 13 • RIF • Sanrio • Shoe Palace 13 Little Tokyo Galleria 14 3rd & Traction • Hammer & Spear 15 • Nightshade • Salt & Straw • Shinola • Voyager Shop • Wittmore 15 ROW DTLA (UC) • A+R • Bodega • Hawkins New York • Oak NYC • Tartine Manufactory (UC) = Under Construction Retail Report I Downtown Center Business Improvement District 7 NEIGHBORHOODS Bottega Louie WHAT’S HOT Restaurants & Bars • 71 Above • Bottega Louie • Drago Centro • Faith & Flower • Fogo de Chão • JOEY DTLA • Karl Strauss Brewing Co. • Little Sister • Mendocino Farms • Morton’s • Sugarfish • Urban Oven Retail • Brooks Brothers • City Target Wilshire Grand Center • H&M • Macy’s • Nordstrom Rack FINANCIAL DISTRICT • Uniqlo • Victoria’s Secret Once a strictly 9-to-5 area for commuters, • Whole Foods the Financial District has become a vibrant 24-7 • Zara neighborhood. Residents and visitors, Hotels pedestrians and Metro riders now share the streets and shops with the • Hilton Checkers huge daytime population of workers, giving the district a vitality that is • Hotel Indigo drawing a new wave of retailers and restaurants. • Intercontinental The FIGat7th retail complex leads the way with major national • NoMad brands including Nordstrom Rack, City Target, H&M and Victoria’s • Sheraton Secret. The diverse options at its TASTE Food Hall bustle at lunch • The Biltmore while evening and weekend events fill its plaza with both workers and • The Standard local residents, making this a gathering place for the whole Downtown • Westin Bonaventure community. One block away, The Bloc, a radically reimagined open-air shopping 8 Downtown Center Business Improvement District I Retail Report FIGat7th WHAT’S NEW Metropolis • 1,550 condos • 350 hotel rooms • 70,000sf retail Seventh Street Improvement Plan Key facets include sidewalk plaza with multilevel podiums, terraces, and courtyards, is home to a enhancements, intersection recently upgraded flagship Macy’s and signature tenants Uniqlo and improvements, street lighting Alamo Drafthouse Cinema, complimenting a unique mix of national and wayfinding.