Living, Working And Playing In DTLA
When it comes to living in Downtown LA, an increasing number of Los Angelenos seem to be interested in the offerings.
Who lives downtown and why was the subject of discussion at our DTLA event, where panelists, including Polaris Pacific partner Paul Zeger, Trumark Urban managing director Arden Hearing, Harley Ellis Devereaux studio leader Mitch Sawasy, City Century EVP Stuart Morkun and Holland Development COO Tom Warren shared insights on what the draw is downtown.
The panelists, led in the discussion by moderator and Loeb & Loeb partner Paul Rohrer, also talked about how technology is affecting lifestyles—with drone landing pads being incorporated in some projects.
Many on the panel, including Paul Zeger (above), agreed the entertainment and cultural activities downtown are a draw for many choosing to live in DTLA.
One noted trend is renters seem to be converting to buyers as they appear to be feeling better about their own financial situations after the most recent crisis, according to Stuart.
It was envisioned as a place where people would live, work and value the lifestyle downtown LA has to offer.
Mitch said he has witnessed DTLA's progression over the years and remembers a time when, decades ago, there were barely any cars on the street in downtown LA on the weekends.
The mix of demographics drawn to DTLA was also discussed by the panel (including Tom, above). Many residents now range from 25 to 55 years old.
It was pointed out that Millennials are getting older and beginning to consider their long-term plans, which could impact the size of the units they eye in the future.