DTLA 2024 Highlights & 2025 Outlook
As we reflect on the past year, there is much to be excited about in DTLA. And looking forward, next year is shaping up to be even more promising. Here are our some highlights from 2024 and what we are eagerly anticipating in 2025.
2024 Highlights
Food & Beverage: The Renaissance Continues
Over 30 new food and beverage establishments opened in DTLA in 2024, continuing the trend that has now seen over 125 new operators setting up shop in the area since 2021. Some of the highlights include rooftop bar Lost DTLA, fine dining restaurant Camelia, and massively popular Villa’s Tacos.
adidas Originals DTLA: Flagship Retail
Spanning two levels, adidas Originals is a flagship location that will function as a community hub, hosting workshops, events, and collaborations with local artists. The new store honors its heritage with a stunning architectural revival, blending raw historical elements with bold use of adidas’ iconic blue and distinctive branding.
Colburn Center & The Broad expansion: Cultural Growth on Bunker Hill
The world-class collection of cultural institutions on Bunker Hill is growing again, with the Colburn School breaking ground on the new Colburn Center, a Frank Gehry-designed music hall and dance studio building, and The Broad announcing a 55,000 SF expansion of its property, that will increase their gallery and exhibition space by 70%.
Figueroa Eight: High-Rise Living in the Financial District
Figueroa Eight, the first of two high-rise residential projects from Mitsui Fudosan, opened in early 2024 at the corner of Figueroa and Eighth, across the road from FigAt7th and Beaudry, another high-rise residential tower that opened in late 2023. Together, these two new towers have reshaped the block into an inviting residential thoroughfare.
California Hospital Medical Center: Serving the Needs of a Growing Community
As the only full-service emergency medical center in Downtown LA, California Hospital serves over 70,000 patients annually. The expansion that opened this year is designed to meet the growing needs of the community by adding 51% more beds and increasing overall capacity to reduce wait times and increase efficiency.
LA Convention Center: Renovating for the Future
LA City Council (finally) approved the plan to renovate and expand the LA Convention Center before the 2028 Olympics. While the immediate objective may be to expedite the completion of the project for the games, the benefits for DTLA of finally having a world-class convention facility will extend for decades after the athletes and millions of spectators return home.
Coming in 2025
Lucas Museum of Narrative Art: A World-Class Addition at Exposition Park
As the first museum to focus exclusively on storytelling through images, the Lucas Museum of Narrative Art will explore narrative art’s potential to inspire community and move people to think about the impact of images on our world. The museum will feature a collection that encompasses artworks from across cultures, places, times, and mediums.
DTLA 2040: Supercharging Residential Growth
The new Downtown Community Plan is expected to receive final approval and go into effect in early 2025. The plan provides a blueprint for the next phase of DTLA’s evolution. Not only does it increase Downtown’s overall capacity for new residential development, it includes several key provisions encouraging increased density by providing incentives and eliminating requirements.
Alloy: High-rise Living Comes to The Arts District
Alloy, the first high-rise development in the Arts District, will feature 475 apartments and over 100k SF of office space, along with 18,000 SF of street-level shops and restaurants. While it will be the tallest building in the Arts District when it opens, there are two more high-rise projects in the pipeline for the highly desirable neighborhood.
Olympic & Hill: DTLA's Most Active Developer Not Slowing Down
At over 760 feet and 60 stories, Olympic & Hill will be the city’s 4th tallest building and tallest residential high-rise. Developed by Onni Group, one of the most active developers in DTLA, it will be their first project to include residential units that wrap the parking podium, giving it a stronger connection to the street.
The Grand LA: Two New Arrivals Point The Way Forward
The Grand LA has secured two major tenants with innovative uses representing increasingly important sectors of the DTLA ecosystem – arts and education. Dataland, described as the world’s first “Museum
of AI Arts,” and the University of Michigan’s Ross School of Business, which is establishing a Los Angeles campus for its Executive MBA and other programs, are each taking 20,000 SF at the $1-billion mixed-use complex on Bunker Hill.
Pershing Square: A Welcomed Overhaul
The first phase of Pershing Square’s renovation is expected to open in 2025. Focused on the Olive Street side of the park, the upgrades include removing outdated structures, adding a new entry plaza, and installing new glass elevators providing access to the parking garage below. Phase 2 will similarly revamp the Hill Street side of the park while a third phase will renovate the central area of the park, along with its 5th and 6th Street frontages.