Central Los Angeles is undergoing a metamorphosis as over $10 billion in private investment is fueling a major economic revitalization.
In recent years, the City’s center has seen an explosion of residential building that has made Downtown a vibrant 24/7 center of activity. Two new privately-funded billion dollar developments are reinventing the area. LA LIVE is a vast complex incorporating major entertainment venues, a 1,000-room convention hotel along with luxury residences, restaurants, and clubs. Grand Avenue, on Bunker Hill, has a newly completed 16-acre park – Grand Park. Eli Broad’s $140 million art museum is under construction, while several luxury apartment towers are under construction or in the planning stage. When complete, the area will also include retail space and a luxury hotel. In 2013, construction began on the largest skyscraper on the west coast, the new Wilshire Grand project, which will generate thousands of jobs and add a remarkable element to the city’s skyline.
In addition, the Hollywood area is undergoing a major rebirth with billions more being invested in residential and commercial projects including several high rise condominium developments, the W Hotel, and the Hollywood and Highland retail complex, which includes the Hollywood & Highland Theatre, home of the Academy Awards®.
Located three miles south of downtown, the University of Southern California is one of the world’s leading private research institutions and consistently enrolls more international students than any other U.S. university. USC, the largest private employer in the City of Los Angeles, and the County of Los Angeles are planning a world-class biomedical research park adjacent to the USC’s Health Science Campus located east of downtown.
Local Government & Business
As the economic and financial hub of the West Coast, the Central Business District hosts the region’s top professional services firms including banking, law, accounting, insurance, architecture, engineering, and consulting. Businesses in this region are served by organizations such as the Central City Association and the L.A. County Board of Supervisors and their respective staffs.
Beyond the tall towers, downtown offers several vibrant areas of industrial activity including the Flower and Produce Districts, important hubs for the fresh flower and produce trades; the Fashion District, where many top designer brand clothes such as American Apparel and Forever 21 are manufactured; the Toy District, a key design and distribution center for toys; and the Jewelry District, the West Coast center for production, wholesaling, and retailing of precious metals, gems, and stones.
Quality of Life
From the world-famous Walk of Fame and Kodak Theatre in Hollywood to the Frank Gehry-designed Disney Concert Hall, the Music Center, and Nokia Theatre downtown makes Central Los Angeles the cultural and events center of the region.
Los Angeles – which includes the communities of Downtown, Hollywood, LAX area, Miracle Mile, Playa Vista, Wilshire Corridor, and Venice.
Why Central Los Angeles
- Downtown L.A. is home to the largest concentration of government offices and employment
- It is the economic and financial hub of the West Coast
- Home to the Fashion, Toy, Jewelry, Flower, and Produce districts where an a wealth of economic activity takes place
- Ideal location for those who work regularly with public agencies
- Cultural and tourist attractions include the Hollywood Walk of Fame, Disney Concert Hall, Kodak Theatre, and the Farmer’s Market