Why Downtown L.A.?
THE REVITALIZATION OF DOWNTOWN LOS ANGELES
With the advent of the L.A. urban renaissance, the City of Angels has refocused itself to its downtown roots. Lofts, hotels, restaurants, clubs, boutiques, galleries, parks and theaters are rapidly populating the metropolitan core, redefining the heart of a once nearly exclusive corporate center. Emerging from this cultural transformation are some of the city's A-list destinations frequented by urban dwellers, Westside trendsetters and affluent vacationing and business travelers from across the globe.
•Downtown Los Angeles business establishments climbed 8.5% from 11,559 in 2005 to 12,545 by first quarter of 2006. | Downtown Center Business Improvement District, February 2007
•In 2005, an estimated 12 million people visited downtown Los Angeles.| Downtown Center Business Improvement District, February 2006
•The new $2.5 billion L.A. Live! development will debut as a 3.8 million square foot hotel/mall/residential destination adjoining the nearby Staples Center and is expected to produce a $10 billion economic impact. The Ritz Carlton Residences will premiere in 2010 with 224 luxury condominiums as part of a dramatic, 54-story hotel/residential tower. | Downtown Center Business Improvement District, February 2007
•The new $3 billion Grand Avenue Project, designed by Frank Gehry, features 3.6 million square feet of development (entertainment/restaurants/retail/hotel/new housing) and a 16 acre park stretching from the Music Center to City Hall. | Grand Avenue Committee, August 2008.
|
