Jun 9, 2025, 4:00 PMUpdated Jun 9, 2025, 9:27 PM

Downtown LA has 33K new residential units in pipeline

Century City’s The Olympia will house submarket’s most apartments

Jun 9, 2025, 4:00 PMUpdated Jun 9, 2025, 9:27 PM

There are some 2,700 apartments under construction in Downtown Los Angeles, and another nearly 30,000 proposed to be built —  a slowdown compared to previous years, according to one industry group.

These figures stem from a first-quarter market report from the DTLA Alliance, a group representing more than 2,000 property owners in the Downtown Center.

The alliance said in a statement that the residential projects under construction represent a “very small pause,” likely because of a new community plan adopted late last year that aims to support thoughtful growth and development, while maintaining the character of the neighborhood.

There are roughly 58,000 units in Downtown L.A. already, housing a population of about 99,000 residents. Once the units in the pipeline are completed, the market’s population is projected to swell by 4.6 percent to more than 103,000, according to the report.

Most of the residential units either being built — about 1,300 — or to be built — nearly 24,000 — are market-rate rentals, according to the report.

In the first quarter, the apartment occupancy rate in Downtown L.A. was 90.8 percent, a 70 basis-point increase from the previous quarter. Since the pandemic, occupancy has held at about 90 percent, despite a dip in 2023 after 2,000 new apartments went online.

Developers also are constructing more than 500 condominiums, while another 2,400 are being planned. The rest of the residential units in the pipeline are in affordable housing developments mixed market-rate and affordable housing projects.

The average asking per-unit monthly rent was flat, at $2,838 in the first quarter compared to $2,832 in the prior quarter.

Olympic & Hill at 1020 South Hill Street, from Onni Group, will be L.A.’s fourth-tallest building and its tallest residential tower, according to the report. It will have 700 units and 15,000 square feet of retail space once completed later this year.

The proposed project with the most to-be-built units is Fourth and Central, developed by Continuum Partners, which will house about 1,600 market-rate apartments, condos and affordable units.

Meanwhile, condo sales fell by 37.5 percent during this time period, as 75 deals were completed in the first quarter, per the report. Condo pricing also edged down by 2.6 percent to $681 per square foot.

Here is a look at the residential rental projects — market-rate and affordable apartments and condos — in the pipeline in Downtown L.A.

Correction: This story had been edited to reflect that the organization’s name is DTLA Alliance.

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