The Largest Construction Projects Currently Underway in Los Angeles - PropertyBlawg

The Largest Construction Projects Currently Underway in Los Angeles

by JRO on February 17, 2014

Construction projects are booming across the country, especially in Los Angeles, California, where this city is undergoing several building projects at any given time. The number of expansion projects going on right now is a barometer of sorts for the healthy development of roadways, businesses, neighborhoods and even the nation’s economy.

Neighborhood Expansion

Neighborhood expansions throughout the city have targeted small segmented areas for improvement. In terms of promoting the culture and diversity of the city, there are a few key projects going on in Little Tokyo and Chinatown that impact those communities. According to LA Downtown News, large apartment complexes are going up on Second Street near the Doubletree Hotel in Little Tokyo, making way for increased residential expansion in that neighborhood. Likewise in Chinatown, where the burgeoning segment of the population need new places to live and eat. Brand Jia Apartments and a Lotus Garden are currently dominating that new building scene. Over in the bustling Financial District, Eighth Street and Grand Avenue is giving rise to a 700-unit rental building by Carmel Partners as well as a Whole Foods market, targeted for opening in 2015, to meet the city’s ever-growing desire to eat healthy. The number of projects going on right now in LA is staggering, as is their variety, from three dozen residential projects to restorations of historic hotels such as the Ace Hotel on Broadway. Retailers are also headed in, with Urban Outfitters making its appearance soon on Broadway to satisfy the uptick in retail. Like beer? A new brewpub will soon occupy the former Crazy Gideon’s located in the Arts District, which aims to pull in the younger crowd. Overall, there are nearly 100 downtown projects going on right now.

Significant Projects

In terms of sheer size and scope, there are a few projects currently under construction that involve millions of dollars in private and government funding, each with its own impact on the area. One major city project beginning now is Phase 1—Broadway Revitalization—of the overall Broadway Streetscape Master Plan. This will result in wider sidewalks, increased sidewalk dining and loading areas for businesses, lighting improvements and even the recreation of historic signs. Another is G.H. Palmer Associates’ plan for a large two-building complex on Olympic Boulevard at Broadway to accommodate the growing population of residents looking for mid-range housing. One building will be 10 stories and 439 units while the other will be a six stories with 247 units. As the second most populous city in America, Los Angeles has been experiencing record growth, leading to the need for more housing. In fact, according to the L.A. Times, the L.A. County population grew by about 51,000 people between 2012 and 2013, topping out at 9.9 million people, 26% of the state’s total population.

A Trend of Growth

Towards the end of 2013, more major businesses built up and took over in Los Angeles—with about 10 cropping up in just the last few months, including Wal-Mart, Hope Street Family Center, Metro Charter Elementary School and the Natural History Museum at Exposition Park. According to the San Gabriel Valley Tribune, the housing market in Los Angeles is picking up, as is the market for planned infrastructure projects that are expected to employ thousands more workers in construction, highway and transit jobs. As a result, 33,000 construction jobs are expected to be created between now and 2017, with a projected average annual growth rate of 5.4 percent. Overall, construction is one of the three industries growing the most and adding the most jobs, taking a back seat only to the leisure and hospitality industries. This new growth is already becoming evident throughout Los Angeles and its suburbs, with the addition of high-impact big-dollar projects like Delijani Broadway Theaters, Pacific Mutual, Traction Avenue Brewpub, a 472-unit apartment complex at 950 E. Third Street, 376-unit project on Wilshire Blvd., and Blossom Plaza. With a cautious eye on the future, the forecast for construction and development in the L.A. area looks strong.

Randy Ventura is a freelance writer based in the greater Los Angeles metro area. Randy suggests that readers in the LA area visit Bigge Los Angeles if they’re looking to rent cranes at affordable rates for whatever construction project they may have.

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