Los Angeles has been transforming into an increasingly unaffordable city as home prices and rents have continued to rise and the housing supply has not been able to keep up with demand.
One solution is to build more housing, and since 2015 the City of Los Angeles has seen over 300 building permit requests for new apartment building construction with a potential for almost 11,000* new residential units.
Requests for buildings with a large number of units seem to cluster around Downtown, but we should expect to see construction increase across the city.
For more information contact Taylor Coyne
Visit the JLL Los Angeles Research webpage for additional market insight.