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L.A. Needs 125,000 Apartment Units

With 10,000 units under construction and several more thousand in the pipeline, Downtown Los Angeles still needs more housing to meet demand, Trammell Crow Co.'s Jim Andersen tells GlobeSt.com EXCLUSIVELY.

By Kelsi Maree Borland | Updated on October 01, 2015

LOS ANGELES—Anyone over the age of 10 in Los Angeles is aware of the considerable multifamily development underway in the downtown market. There are currently 10,000 units, 2,000 of which are condo units, under construction and thousands more in the pipeline, but Jim Andersen, SVP at Trammell Crow Co., tells GlobeSt.com that those numbers are no where near enough to meet demand, noting that Mayor Eric Garcetti recently called for 125,000 new apartment units in Los Angeles. Andersen is speaking at the RealShare Apartments conference on October 22 on the New Downtown: Thinking Beyond Multifamily panel. To get an update on the new market, how it is evolving and where there is still room for growth, we sat down with Andersen for an exclusive interview. Here he gives us a sneak peak of his thoughts for the panel.

GlobeSt.com: Give me an update on the multifamily in Los Angeles. How does it look today compared to this time last year?

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