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Nick Griffin Nick Griffin is the SVP of economic development at the DCBID.

Multifamily and retail are carrying the renaissance in Downtown Los Angeles—and they are driving growth in other market sectors as a result. According to the latest quarterly report from the DCBID, multifamily occupancy grew 9.4%, up to 94% with rents up 4.1% to $3.06 per square foot and retail vacancy rates fell more than 14%, down to 4.1% with lease rates up 3.6% to $2.57 per square foot. These two asset classes faltered slightly in 2017, but have rebounded in 2018 and continued to fuel growth in the market overall.

Kelsi Maree Borland

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