LOS ANGLES—One Santa Fe, a recently opened 438-unit apartment complex in the arts district, has reached 90% occupancy. The development from McGregor Brown and an investment pool led by Canyon Partners Real Estate was one of the first for-rent, ground-up apartment developments to come to the arts district. The successful lease-up shows that the Downtown market, even in more emerging neighborhoods like the arts district, is continuing to see an influx of new residents.

“The rental rates and the pace of absorption at the property really reflect how well the community has received the project,” Charlie Rose, senior director at Canyon Partners Real Estate, tells GlobeSt.com. “We have been pleasantly surprised. We also are proud that we have added 88 affordable units to the community, which we reserved for households earning less than 50% of the area median income, including many artists.”

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