East of the hustle and bustle, Los Angeles’ Arts District is a pocketed area that includes Little Tokyo and has developed tremendously in the past decade. Now, the area known for its large warehouses, storage units, and company manufacturing is becoming the epicenter of a boom in tech-startups and a new cultural hub.
Offices that used to be scattered throughout the downtown Los Angeles/Arts District area were predominantly focused on E-commerce but with the new renovation orders— companies like, Warner Music, Honey, and Lyft are sprouting all over.
On April 29, Denver developers announced a reconstruction plan to revive the entire Arts District with an industrial project over $1.5 billion. There will be more housing, retail, and commercial buildings being built throughout the Los Angeles city region. The Arts District has been a massive industrial storage sector since the 1890s and this renovation project will re-energize the community that has attracted many young working class members.
There is a new 10-building plan underway and this will lead to the inclusion of more uptown resident skyscrapers. The Arts District is a diverse cultural hub that attracts tourists and Angelenos who happen to live in the area, or are looking for a nice evening drink at the many hip breweries or fresh Asian cuisine that is readily available.
The founder of Continuum Partners, Mark Falcone has converted empty districts in Portland and Denver and transformed them into a major metropolitan populace. The same will most likely occur in the Arts District which will completely transform the district from its origin of being a cold-storage complex.
Falcone is hoping to have Los Angeles’ Arts District renovation project finished by 2028 at the latest, with the major focus being on 7.6 acres of buildings between Fourth & Central avenue. The entire urban community is being financed by a private investor and there will be a hotel development plan so that the Arts District can become the next emblematic buzzy Los Angeles destination.
Mark Falcone is hoping to have the Arts District become a major employment center in Los Angeles over the oncoming years and that will most likely turn the city sector into the next biggest tech hub in Los Angeles outside of “Silicone Beach.”
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