And with a growing pool of investors — including sovereign wealth funds — that makes sense. Two SVPs from PNC Real Estate are bullish on the sector as well.

Magic City Innovation District awaits final approval from the city, while seeking commercial tenants for the neighborhood with $12 million invested in rehabbed buildings thus far.

The firm hopes to leverage its industrial assets with the new strategic hires.

The majority of future multifamily housing in Los Angeles will be within walking distance of a public transit line.