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Will New Deliveries Impede Luxury Demand in DTLA?

Several thousand units are scheduled to come to market this year, but Hankey Investment Co. of CIRCA isn’t worried about absorption.

This year, several thousand new apartment units will deliver into the Downtown Los Angeles market—but the strong demand is expected to offset the new supply. CIRCA, a $500 million 648-unit apartment complex hailed as “ultra-luxury,” will deliver in September, but developer Hankey Investment Co. isn’t concerned about the supply, both because of the strong demand and the quality of the product. Hankey opened the leasing office this month for CIRCA and has already received strong demand. We sat down with Scott Dobbins, president of Hankey Investment Co., to talk about the project and the luxury demand in Downtown Los Angeles.

GlobeSt.com: What is apartment demand like in DTLA for luxury rentals?

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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