DTLA 2022 v5

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OUTLOOK & INSIGHTS

DowntownLA.com/DTLA2022

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ABOUT THE DCBID Founded in 1998, the Downtown Center Business Improvement District (DCBID) has been a catalyst in the transformation of Downtown Los Angeles (DTLA) into a vibrant 24/7 destination. A coalition of more than 2,000 property owners in the Downtown Center, the DCBID members are united in their commitment to enhance the quality of life in Downtown LA. The mission of the Economic Development team is to improve and revitalize the District and bring investment and new businesses to the area. We provide services to current and prospective residents, workers, and businesses, including: •

Development Consulting

•

Research and Information Requests

•

Events and Marketing

•

Housing and Office Tours

•

Customized Tours and Reports

Whether you need information on development, opening a business location, or you just want to learn more about Downtown’s market sectors and dynamics, we are the portal for information about the District and DTLA. To learn more, visit www.DowntownLA.com.

DEFINITION OF DOWNTOWN LA The DCBID defines Downtown Los Angeles as the area bounded by the 110, 101 and 10 freeways and the LA River, plus Chinatown, City West, and Exposition Park. Because these do not precisely align with census tracts, some of the data in this report includes areas just outside these boundaries.

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TABLE OF CONTENTS 4

METHODOLOGY AND SOURCES

5

EXECUTIVE SUMMARY

6

THE ‘CITY’ OF LOS ANGELES

8

DTLA THROUGH COVID

I0

DTLA 2022 SURVEY

I2

A PLACE TO LIVE

I4

A PLACE TO WORK

I8

A PLACE TO VISIT, SHOP, AND DINE

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METHODOLOGY AND SOURCES DTLA 2022 Outlook & Insights Report incorporates a wide variety of sources including official government data, geolocation data, and our own survey products. Three of our partners have been critical to producing this report.

RENEGAGE MARKETING The DTLA 2022 Survey was conducted in partnership with Renegage Marketing from February 7-11, 2022. 230 respondents completed a 5–10-minute online interview. The margin of error associated with this sample size is approximately 6% with a 95% confidence interval. Renegage Marketing also helped produce the DTLA Recovery Compass and is one of the partners on the nationwide Back to Normal Barometer, referenced in this report.

INTERNATIONAL DOWNTOWN ASSOCIATION The IDA report on the Value of Downtown LA was completed in late 2021. IDA curated an extensive set of official government data for Downtown, the City of Los Angeles (City), and the LA/Long Beach/ Anaheim Census Metropolitan Area (Region). For data from US Census Bureau, we have used the most recent available, which is for 2019. Chief among these are census-tract level breakdowns from the US Census Bureau’s American Community Survey (ACS), 2010 Decennial Census, and Longitudinal Employer Household Database (LEHD), and many more.

PLACER.AI Placer.ai generates insights about consumer behaviors and preferences using geolocation data from mobile app usage. This technology and placebased approach allows them to produce daily data for visitors, residents, and workers that can be accessed almost immediately. That data is paired with census data at the most granular geographic areas available to provide detailed demographic data on each group. Placer also incorporates a range of other sources such as Experian Mosaic, a consumer lifestyle segmentation tool referenced in this report. Unless otherwise stated, all Placer.ai data in this report is based the period of January 1, 2021 to December 31, 2021.

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EXECUTIVE SUMMARY Emerging from the COVID-19 pandemic presents a unique moment of challenge and opportunity for urban centers like Downtown Los Angeles. In response, the Downtown Center BID produced the DTLA 2022: Outlook & Insights report to focus on our city center’s current state and its position in the region, nation, and world – and to understand what that all means for its future.

Building on the DCBID’s signature biennial Survey of Downtown Residents, Workers, and Visitors, this report adds both broader economic context and more granular data analysis in presenting a comprehensive picture of DTLA as a place, a community, and a market, as well as its importance to the greater City of Los Angeles and the Southern California region.

Downtown Los Angeles is the primary hub of commercial activity for Los Angeles, and the most significant job center in the region. It is also a diverse collection of thriving urban neighborhoods, and a popular destination with national and global recognition. The intersection of all these elements in this one place creates the dynamic energy that has fueled DTLA’s growth and the unique identity that will shape its future.

also twice as likely to take public transportation and 5 times more likely to walk to work!

We then look at the impact of the pandemic and the ongoing economic recovery. Although COVID affected communities across the region and globe, city centers like DTLA were uniquely impacted by stay-at-home orders.

With workers and visitors remaining in their residential communities, trips to Downtown and patronage of local businesses dropped dramatically. However, our market “DTLA is the primary trend reports indicate that retail hub of commercial rates and occupancy have held their ground, and visitation and hospitality activity for Los are making steady comebacks.

Angeles, and the most significant job center in the region. It is also a diverse collection of thriving urban neighborhoods, and a popular destination with national and global recognition.

The intersection of all these elements ... has fueled DTLA’s growth and the unique identity that will shape its future.”

In this report, we look at Downtown in three primary contexts. In order to fully appreciate its size, scope, and significance, we start with its relationship to the City of Los Angeles. DTLA comprises only 1.4% of the land area of Los Angeles but provides 19% of the city’s jobs and 35-40% of its hotel, sales, and business tax revenues. The cost of living is substantially lower, with the combined cost of housing and transportation taking a 14% smaller share of Downtowners’ paychecks than for residents in other parts of the city. And those who work in DTLA have significantly more eco-friendly commuting patterns with 32% fewer driving alone to work. They are

Finally, we consider DTLA as a place unto itself by looking at the people who live, work, and visit here. Our residents are significantly younger and more ethnically diverse than either the city or region. More than 2/3rds say they plan to live in DTLA for 3 years or more. Downtown employment has significantly diversified as well, with workers in the “knowledge” (professional, scientific, technical services, and information) industries having greatly expanded their numbers. More than 93% of workers say they plan to be back in the office in some capacity.

And DTLA visitors, attracted by a retail density 10x that of the rest of the city, reflect a consumer base that is drawn to the cultural connections and experience of DTLA.

The DCBID published its DTLA 2020 Survey at the height of the pandemic with an editorial entitled: “A Once and Future Portrait of DTLA” that captured a unique moment in time and profiled a Downtown community that was “passionate, knowledgeable, committed to their neighborhood, and optimistic about its future.” As we release DTLA 2022, we are proud to report that that community carried us through the last two years and are poised to lead our resurgence.

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THE ‘CITY’ OF LOS ANGELES Representing just 1.4% of the total land area of the City of Los Angeles, Downtown LA plays an outsized role in the city’s economy. With a density and diversity unique to the region, but a location at its geographic center, DTLA is a hub for all Angelenos. While it has long served as the city’s principal commercial business district, the Downtown Renaissance of the past 20 years has transformed it into a vibrant residential community, global center for arts & culture, and a regional destination for sports & entertainment, retail, restaurants and nightlife. It is the amalgam of these qualities that define DTLA as the ‘City’ of Los Angeles.

1.4%

DTLA Share of the City of Los Angeles Land Area Despite representing a tiny percentage of the land area in the City of Los Angeles, DTLA plays a significant role in every sector of the local economy.

CITY OF LOS ANGELES

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THE ‘CITY’ OF LOS ANGELES GENERAL DOWNTOWN

DTLA % OF CITY

6.7

1.4%

Office square feet

40,000,000

47%

Retail square feet

4,300,000

17%

8,000

18%

42,364

3%

84%

12%

Hotel Tax

$138M

40%

Sales Tax

$246M

44%

Business Tax

$212M

36%

Land Area (sq. mi.)

Hotel rooms Residential Units Residential Inventory growth 2000 - 2019

84%

Residential Inventory Growth DTLA leads the way in addressing the housing crisis by delivering 12% of the new housing units in the City since 2000.

TAX IMPACT

EMPLOYMENT 89,752

15%

315,955

19%

15,386

35%

DOWNTOWN

CITY

Residents per Square Mile

11,619

8,459

Employees per square mile

47,299

3,490

743

75

Share of city knowledge industry jobs Jobs Share of city creative jobs

19%

of Citywide Jobs Talent, world-class amenities and unparalleled access to transit draw employers to DTLA.

DENSITY

Retail businesses per square mile

Sources: U.S. Decennial Census (2000, 2010); American Community Survey 5-Year Estimates (2015 – 2019); LEHD On the Map (2018); City of Los Angeles, Office of Finance (2019); LA County Assessor’s office (2019)

743

Retail Businesses Per Square Mile The density of storefronts in DTLA is a key part of its appeal to both shoppers and retailers.

*Data is from 2019 to represent a typical pre-COVID year. The taxes shown here do not include property tax, which also makes up a signifi cant portion of the city’s total taxes.

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DTLA THROUGH COVID Although COVID affected communities across the region and globe, Downtown LA, like other major urban centers, was uniquely impacted by stay-at-home orders and other public health restrictions. As people remained in their residential communities, trips to DTLA dropped dramatically. However, despite the rise of the Delta and Omicron variants, 2021 saw a substantial recovery in visitation to DTLA. The real estate market followed similar trends, with the residential sector coming back stronger than ever; hospitality regaining much of its losses; and the office and retail sectors showing signs of recovery as cases drop, mandates ease, and return-to-work plans proceed.

TOTALMonthly VISITS PER VISITORS TotalMONTH Visits to -DTLA 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000

400,000

12/1/21

16

12

250,000

10

200,000

8

150,000

6

100,000

4

50,000

2

Q4 2019

Q1 2020

Q2 2020

Q3 2020

Daily Average Number of Workers

Q4 2020

Q1 2021

Q2 2021

Q3 2021

Q4 2021

Avg. Visits Per Worker Per Month

14

300,000 Daily Average Number of Workers

11/1/21

9/1/21

18

350,000

0

10/1/21

8/1/21

7/1/21

6/1/21

5/1/21

4/1/21

3/1/21

2/1/21

DTLA Average Workplace Visits WORKPLACE VISITS - WORKERS

1/1/21

12/1/20

11/1/20

10/1/20

9/1/20

8/1/20

7/1/20

6/1/20

5/1/20

4/1/20

3/1/20

2/1/20

1/1/20

12/1/19

11/1/19

9/1/19

10/1/19

8/1/19

7/1/19

6/1/19

5/1/19

4/1/19

3/1/19

2/1/19

1/1/19

0

0

Average Workplace Vi sits Per Worker Per Month Source: Placer.ai

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DTLA THROUGH COVID Q4 2021

$2,800

96%

$2,700

94%

$2,6 00

92% 90%

$2,500

88%

$2,400

86%

$2,300

84%

$2,200

82% Q1 2020

Q2 2020

Q3 2020

Q4 2020

Asking Rent Per Unit

OFFICE

Q1 2021

Q2 2021

Q3 2021

Occupancy

Q4 2021

25%

$3.75

20%

10%

$3.60 $3.55

5%

$3.50

0%

Q2 2020

Q3 2020

Q4 2020

Asking Rent Per Square Foot

RETAIL

Q1 2021

Q2 2021

Q3 2021

Vacancy

Q4 2021

7%

Rent Rent

$3.05

6%

$3.00

5%

$2.95

4%

Q1 2020

Q2 2020

Q3 2020

Q4 2020

Average Rent Per Square Foot

HOTEL $180 $160 $140 $120 $100 $80 $60 $40 $20 $0

Q4 2019

Q1 2021

Q2 2021

Q3 2021

Vacancy

Q4 2021

3%

Q2 2020

Q3 2020

Q4 2020

YTD RevPar

$3.70 6%

Vacancy

$3.01

Rent Per Square Foot

Source: CoStar

Q4 2021

Hotel

Q1 2020

Vacancy

Q4 2021 8%

Q4 2019

20% Rent Per Square Foot

Retail

$3.10

$2.90

$2,759

Source: CBRE

Vacancy

Rent Rent

15%

$3.65

Q1 2020

Occupancy

Q4 2021

Office

$3.80

Q4 2019

94% Asking Rent Per Unit

Source: CoStar

$3.70

YTD YTD RevPar RevPar

80%

Vacancy Vacancy

Q4 2019

Vacancy

$2,100

Occupancy Occupancy

Residential

Q1 2021 Occupancy

Q2 2021

Q3 2021

Q4 2021

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Source: LA Tourism & Convention Board

Occupancy Occupancy

Rent Rent

RESIDENTIAL

54% Occupancy

$96 RevPAR

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DTLA 2022 SURVEY The DCBID has been conducting surveys of Downtown residents, workers, and visitors for over 15 years. Our primary effort has been a biennial survey of thousands of respondents addressing a wide range of subjects. During the pandemic, we initiated the DTLA Recovery Compass Tracking Study – a wave survey conducted in several phases over nearly a year to gauge changes in stakeholder sentiment as public health conditions evolved. For our DTLA 2022 Survey, we chose to narrow the scope of the Recovery Compass to topics that address specific concerns of the moment through the perspective of two of our core constituencies – residents and office workers.

While respondents expressed some understandably mixed sentiments, one common response captured the enduring spirit of many Downtowners.

“I am optimistic about the future of DTLA” DTLA 2022 Survey 65% Recovery Compass: 07/2021 61% Recovery Compass: 10/2020 58%

RESIDENTS Early in the pandemic, there were fears across the country about the future of downtowns and predictions of a residential exodus from places like DTLA. With the temporary closure of so many amenities that are at the core of the urban experience, these concerns were understandable. Fortunately, while our survey results indicate that 54% of residents thought about leaving DTLA at some point during the pandemic, today only 9% think they will leave within a year. Most actually plan to stay much longer – with 65% expecting to live here for at least three years and one in four looking at living in DTLA for 10 years or more.

Our surveys over the last decade have shown our residents to be passionate about living Downtown and being part of the DTLA community. Those sentiments held this year, despite the pandemic, showing Downtowners to be a particularly committed and resilient group.

65% expect to live in DTLA for at least 3 more years

“I love DTLA”

“I am part of the DTLA community”

Less than one year ������������������������ 9%

DTLA 2022 ����������������������������������� 79%

DTLA 2022 ����������������������������������� 71%

DTLA 2020 ���������������������������������� 85%

DTLA 2020 ���������������������������������� 70%

DTLA 2015 ���������������������������������� 83%

DTLA 2015 ���������������������������������� 74%

1 to 2 years ��������������������������������� 26% 3 to 10 years ������������������������������� 40% 10 or more years ������������������������ 25%

OFFICE WORKERS Although the return-to-work status of most office workers remains in flux, our survey results suggest that the situation will begin to settle over the coming months as the large majority of workplace plans are implemented.

While those plans are likely to evolve over time, 93% of respondents said they expect to be back in the office in some capacity. 40% say back to workplace plans have already been implemented, and 39% say they will be implemented by the end of June.

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Back to Workplace Plans 100% in office ���������������������������� 15% Majority in office ����������������������� 20% Equal in office/at home ������������� 22% Minority in office ����������������������� 32% 100% work from home ���������������� 7%

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DTLA 2022 SURVEY PRIORITIES Despite all that has happened since the start of the pandemic, what has not changed is that the top priority for improvement identified by our survey respondents is providing more services to address homelessness, followed by improved cleanliness and streetscapes.

Priorities (highest=5, lowest=1) 1. More services to address homelessness ���������������������������������������������������������������������������������������������������� 4.0 out of 5 2. Increase cleanliness and improve streetscapes ������������������������������������������������������������������������������������������ 3.6 out of 5 3. Increase police visibility through added foot, bicycle, and mounted patrols �������������������������������������������� 2.8 out of 5 4. Improve transportation including traffic, transit, & shared mobility ����������������������������������������������������������� 2.6 out of 5 5. Provide services to support those adversely impacted by the COVID-19 pandemic ��������������������������������� 1.9 out of 5

ENGAGEMENT Throughout the pandemic, the DCBID has tracked willingness to engage in various activities through its DTLA Recovery Compass tracking survey. We have consistently found that sentiment is strongly responsive to current conditions vis a vis infection rates and mitigation measures.

The same correlation was seen in a nationwide tracking survey, the Back to Normal Barometer. Although case numbers were much higher in November, there was less concern than in July due to differences in vaccination rates and the perceived threats posed by the Delta and Omicron variants, respectively.

For the DTLA 2022 Survey, while the Omicron variant had started to ease, many restrictions remained in place, including widespread masking. For Downtown, the continued absence of most office workers remained a critical factor. Unsurprisingly, we found an undeniable dampening of enthusiasm in willingness to engage in various activities.

These sentiments mirror similar findings from last year in the Back to Normal Barometer, such as in November 2021 when 46% of their respondents nationwide said they were dining out less often than they used to.

As mask mandates are expected to lift in the coming month, based on our prior experience, we expect sentiments to improve significantly in the near term.

DTLA Recovery Compass (LA) Willing to Shop/Dine Out December 2020

July 2021

Pre-vaccine

54% vaccinated

Strong mitigation

Minimal mitigation

40-50%

77-80%

Back to Normal Barometer (Nation)* Willing to Fly/Stay at Hotel July 2021

November 2021

50% vaccinated

60% vaccinated

Mitigation returning

Mitigation easing

38-47%

83-88%

DTLA 2022 Survey (LA) Shopping/Dining Out Dining out less often

Visiting retailers less often

65%

81% *Source: sportsandleisureresearch.com

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A PLACE TO LIVE DTLA residents are significantly younger and more ethnically diverse than either the city or region and have a slightly higher rate of postsecondary education. Although the residential population has grown by 37% overall from 2010 to 2019, that growth has been concentrated in certain census tracts, primarily in South Park, the Historic Core, and the Arts District, where new residential development has been most heavily concentrated. Unsurprisingly, these census tracts all now boast median household incomes well above the rest of Downtown or the city as a whole.

RESIDENTS

37%

Residential Population Growth from 2010 to 2019

DOWNTOWN

CITY

REGION

Population

77,616

3,966,936

13,249,614

Per Square Mile

11,619

8,459

2,733

Growth 2015-2019

21%

2%

1%

Growth 2010-2019

37%

5%

4%

Hispanic or Latino

32%

48%

45%

Asian and Pacific Islander

26%

12%

16%

White Alone

22%

28%

30%

Black or African American

16%

9%

6%

Two or More Races

3%

2%

2%

Native American or Other

1%

1%

0%

8%

21%

22%

18 to 24

10%

10%

10%

25 to 34

28%

18%

16%

35 to 49

25%

21%

20%

50 to 64

16%

17%

19%

65+

13%

12%

14%

High school or less

39%

42%

39%

Some college or Associate

22%

24%

26%

Bachelor's degree

25%

23%

22%

Graduate or higher

13%

12%

12%

RACE

53%

Residents between the Ages of 25 and 49

60%

Residents with Postsecondary Education

AGE <18

EDUCATIONAL ATTAINMENT

Source: U.S. Decennial Census (2000, 2010); American Community Survey 5-Year Estimates (2015 – 2019)

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A PLACE TO LIVE HOUSEHOLD INCOME DOWNTOWN

CITY

REGION

< $15K

30%

12%

10%

$15K - $40K

20%

22%

19%

$40K - $75K

14%

23%

23%

$75K - $100K

8%

11%

12%

28%

31%

37%

POPULATION (2019)

GROWTH (2010-19)

MEDIAN HHI (2019)

> $100K

28%

Residents with Household Income Greater Than $100K

Source: American Community Survey 5-Year Estimates (2015 – 2019)

SELECTED CENSUS TRACTS Tract from maps below 41

2077.10

4,667

177%

$100,972

52

2079

7,162

128%

$92,104

3

2074

1,539

104%

$87,000

4

2063

6,103

2%

$9,191

25

2060.31

4,131

79%

$99,205

$86,300 Average Resident Household Income

Source: American Community Survey 5-Year Estimates (2015 – 2019)

MEDIAN HHI (2019)

POPULATION GROWTH (2010-19) n < 0% n 0-20% n 20-40% n 40-60%

n < $25K n $25-40K n $40-65K n >$65K n Skid Row

n 60-80% n 80-100% n >100%

3

3

1

1 4 2

4 5

2

5

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A PLACE TO LIVE DTLA is the “first choice” for Angelenos who want an active urban lifestyle. As such, Downtowners are much more likely to use alternative modes of transportation and tend to work much closer to where they live. Because the DTLA housing market is predominantly rental and its demographics skew towards young and single, it is also more transitory than the rest of the region. At the same time, it attracts a significant share of long-term residents, as demonstrated by our survey.

RENT VS. OWN

37%

Combined cost of Housing + Transportation vs 54% Citywide

RENT

OWN

92%

8%

$1,567/month

$610,669

137%

43%

DOWNTOWN

CITY

REGION

37%

54%

59%

2%

1%

1%

Transit

21%

10%

5%

Carpool

7%

9%

10%

Walk

18%

4%

3%

Other

2%

2%

1%

51%

74%

80%

DOWNTOWN

CITY

Avg Bike Score

78

59

Avg Transit Score

98

53

Avg Walk Score

93

68

Share of Population Median Rent/Price Rent/Price Increase 2010-19 Source: American Community Survey 5-Year Estimates (2015 – 2019)

COST OF LIVING Percentage of Income:

Housing + Transportation Source: Center for Neighborhood Technology (2017)

41%

Residents Walk, Bike, or Take Transit to Work

COMMUTING PATTERNS Bikes

Drive alone

Source: American Community Survey 5-Year Estimates (2015 – 2019)

93%

Downtown Average Walkability Score

WALK, BIKE, AND TRANSIT SCORES

Source: Walk Score (2021)

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A PLACE TO LIVE RESIDENT WORK LOCATIONS

5 mile Radius

# of Visits High

Low

Source: Placer.ai

DTLA 2022 SURVEY: RESIDENTS Top 3 retail categories desired (1) Supermarkets ��������������������������������������������������������������������������������������������������������������� 80% (2) Clothing/Apparel ���������������������������������������������������������������������������������������������������������� 48% (3) Books/Music ����������������������������������������������������������������������������������������������������������������� 31%

Top 3 most requested new retailers (1) (2) (3) Trader Joe’s ��������������������������������������������������������������������������������������������������������������������� 15.3%

62%

Residents Travel Less Than 5 Miles to Their Workplace

Nordstrom ����������������������������������������������������������������������������������������������������������������������� 15.4% Bed, Bath & Beyond �������������������������������������������������������������������������������������������������������� 20.9% Source: Placer.ai

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A PLACE TO WORK Downtown LA is the largest employment cluster in the region. Despite its reputation as a home for “traditional” office tenants, the area has seen significant growth in the “knowledge” industry, including professional, scientific, and technical services and Information. These non-traditional DTLA office tenants are drawn to the area by a range of factors including its central location in the region and superior access to talent and transit, as well as arts, culture and other amenities.

JOBS BY INDUSTRY

21%

Growth of DTLA “Knowledge Industry” Jobs from 2010 to 2019

47,299

Downtown Employees per Square Mile

2019

CHANGE SINCE 2010

105,714

30%

Professional, Scientific, and Technical Services

34,769

24%

Accommodation and Food Services

23,838

74%

Health Care and Social Assistance

21,579

70%

Wholesale Trade

19,940

-6%

Finance and Insurance

17,961

-9%

Utilities

16,536

22%

Arts, Entertainment, and Recreation

15,816

17%

Admin/Support/Waste Mgmt.

14,080

72%

9,727

-20%

92,531

21%

DOWNTOWN

CITY

REGION

334,667

1,854,464

6,375,672

47,299

3,490

1,168

Public Administration

Retail Trade Knowledge Industries*

TOTAL EMPLOYMENT 2018

All Jobs Employees per square mile

*Knowledge industries: Professional, Scientific, Technical, Finance, Insurance, Real Estate, Information, Health Care, and Social Assistance Source: LEHD On The Map (2019)

$85,000 Worker Average Household Income

Share of Households

HOUSEHOLD INCOME

Source: Placer.ai

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A PLACE TO WORK RACE/ ETHNICITY DOWNTOWN

CITY

REGION

White Alone

64%

70%

72%

Black or African American

13%

10%

8%

Asian Alone

19%

15%

16%

4%

4%

4%

37%

38%

39%

Age 29 or younger

17%

21%

21%

Age 30 to 54

59%

56%

55%

Age 55 or older

24%

24%

24%

Less than high school

13%

15%

15%

High school or equivalent

16%

16%

16%

Some college or Associate

26%

23%

23%

Bachelor's or higher

29%

25%

24%

Others Hispanic or Latino

59%

Workers Aged 30-54

AGE

EDUCATIONAL ATTAINMENT

55%

Workers with Postsecondary Education

Source: LEHD On The Map (2019)

EMPLOYEE HOME LOCATIONS

50%

# of Visits

of DTLA Workers Commute Less Than 7 Miles from Their Home

7 mile Radius

High

Low Source: Placer.ai

Downtown Center Business Improvement District

17

2 O 2 2

A PLACE TO VISIT, SHOP, AND DINE Total visitation to Downtown is returning to pre-pandemic levels and will continue to grow as restrictions are lifted and business and convention travel returns. DTLA visitors are a diverse group that includes everyone from international tourists to locals coming for a night on the town or to serve on jury duty. Downtown is one of the region’s premier “day trip” destinations due to its concentration and variety of attractions and amenities. For those coming from outside of the region, Downtown is both an attraction unto itself and an ideal home-base from which to explore the rest of Los Angeles.

RETAIL VITALITY

157

Food & Beverage Businesses per Square Mile

DOWNTOWN

CITY

4,966

35,061

743

75

1,048

10,914

157

23

Total retail businesses Retail businesses per square mile Food and beverage businesses Food & beverage businesses per square mile

Source: ESRI Business Analyst Marketplace Data (2017); ESRI Business Analyst Business Total Data (2019)

DTLA RESIDENTS FAVORITE RETAIL PLACES

DTLA VISITORS & WORKERS FAVORITE PLACES

Top 5 Destinations

Top Destinations in LA (Rank)

VISITED IN 2021

(1) FIGat7th

45,852

Crypto.com Arena (2)

1.5m

(2) Whole Foods Market

29,430

Grand Central Market (7)

1.7m

(3) Grand Central Market

21,772

FIGat7th (8)

1.6m

(4) Little Tokyo Galleria

21,090

Cathedral of Our Lady of The Angels (9)

1.5m

(5) Ralphs

21,082

ROW DTLA (13)

700K

Source: Placer.ai

18

VISITED IN 2021

Downtown Center Business Improvement District

Source: Placer.ai

2 O 2 2

A PLACE TO VISIT, SHOP, AND DINE

15 million

$5 billion

Visitors in 2021

Annual Retail and F&B Sales Source: Placer.ai

Source: ESRI Business Analyst Marketplace Data (2017)

DTLA TOP CONSUMER SEGMENTS Based on: Mosaic USA Consumer Lifestyle Segmentation by Experian RESIDENTS

WORKERS

VISITORS

Young City Solos �����������������������������������38%

Cultural Connection ������������������������������22%

Cultural Connection ������������������������������19%

Singles & Starters ���������������������������������25%

Family Union �����������������������������������������16%

Family Union �����������������������������������������18%

Thrifty Habits �����������������������������������������11%

Significant Singles ���������������������������������12%

Significant Singles ���������������������������������10%

Power Elite ����������������������������������������������9%

Singles & Starters ���������������������������������10%

Singles & Starters �����������������������������������9%

Golden Year Guardians ����������������������������8%

Flourishing Families ���������������������������������8%

Young City Solos ��������������������������������������8%

Young City Solos

% OF US POPULATION

HOUSEHOLD INCOME $50K+

MARRIED

KIDS

UNIVERSITY DEGREE

1.70%

74%

14%

12%

56%

“These young professionals report above average incomes topping $50,000 a year, and they seem to be thoroughly enjoying their unattached status.”

Family Union

7.73%

67%

92%

84%

15%

“Tend to live in multi-ethnic and multi-lingual neighborhoods, some speaking Spanish in shops and cafes, driving used American compact cars and minivans, and filling their homes with food and decorations that remind them of their roots.”

Singles & Starters

6.98%

41%

32%

46%

20%

“These self-described workaholics share a desire to move up in status and they realize that every career journey starts with a first step.”

Cultural Connection

3.91%

31%

43%

77%

10%

“Despite their limited budgets, these households enjoy shopping and like to experiment with styles, and they like stores that offer lots of brands.”

Significant Singles

3.24%

51%

34%

29%

25%

“Reflect the recent trend of Americans staying single longer. Most enjoy an active singles scene with plenty of nightlife, progressive values and robust leisure lives.”

Source: Placer.ai and Experian Mosaic USA Handbook (2019)

Downtown Center Business Improvement District

19

2 O 2 2

Downtown Los Angeles is the primary hub of commercial activity for Los Angeles. It is the most significant job center in the region, a diverse collection of thriving urban neighborhoods, and a popular destination with national and global recognition.

A PLACE TO WORK

A PLACE TO VISIT, SHOP, & DINE

15 million

350,000+ JOBS $86,200 Average Household Income

in 2021

59%

VISITORS

$5 billion in Sales in 2019

30 - 54 Years Old

743

55% Postsecondary Education

157

93%

21%

Food/Beverage Businesses per Square Mile

Expect to Return to Office

Job Growth in “Knowledge Industries”

Retail Businesses per Square Mile

93

Walkscore

A PLACE TO LIVE

84% Residential Inventory Growth 2000 - 2019

80,000+ RESIDENTS

32% Less

Income Spent on Housing + Transportation than LA Average

$86,300

Average Household Income

53%

25 - 49 Years Old

79% love DTLA

37% Population Growth 2010 - 2019

60%

Postsecondary Education

94%

Residential Occupancy

41%

Walk, Bike, or Take Transit to Work

65% expect to live in DTLA for at least 3 more years

DowntownLA.com/DTLA2022