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Originally Posted by DTLAdenizen
I do find it very unpleasant walking by vacant retail, but I'm an exception - I doubt most people even notice honestly.
I think just in terms of planning for the future it is important to force developers into creating retail on the ground floor. The next 5 years in DTLA will see us hit critical mass, and all the retail will fill out.
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Quote:
Originally Posted by LosAngelesSportsFan
Honestly, quality, newer retail doesnt stay vacant for very long. 8th and hope had multiple LOI's for their 5 spaces a couple months ago and they are asking $7.00 a square plus NNN. The available spaces at the Luma building are in negotiations as well. The only other spaces in the financial core / south park i can think of that arent spoken for are the corner unit at Wilshire and Grand (former bank that is huge) and the space next to rite aid on 7th and hope that isnt on the market but isnt open either.
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This is a good point that you make. Barring any economic or environmental calamity for the remainder of the decade, I'm guessing that with current and future housing growth DTLA will be near or exceed 100,000 in population. And, considering an estimate of about 80% of that population having a median income of over $80,000 per year. DTLA would essentially approximate a high income medium city--a city with a very high EBI (effective buying income). That critical mass that you speak of may come sooner than we think.