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Condos Are Back Downtown

A flooding supply of apartment units paired with rising for-sale values is driving condo developers back to the city center

By Kelsi Maree Borland | Updated on October 05, 2015

Real Estate Southern California is part of the Forum LOCAL series of features in Real Estate Forum magazine. This is an HTML version of an article that ran in Real Estate Forum. To see the story in its original format, click here.

Condo developers have officially returned to Downtown Los Angeles. Since the downturn, the market has been home to phenomenal multifamily development, driven by an amalgam of factors: employment—there are some 500,000 daytime jobs in the submarket—expanding public transit and entertainment destinations such as the Staples Center and L.A. LIVE. As a result, an increasing number of condo developers are breaking ground in the submarket, accounting for more than $1 billion worth of activity.

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