DTLA: Boom in luxury apartments excites, unsettles

Tractors lumber across a massive excavated plot in downtown Los Angeles. It’s the future home of the Circa complex, and part of the area’s boom in luxury apartments.

When completed in 2017,  two circular towers will loom over South Park, featuring retail space and nearly 650 apartments. Rents will range from $2,800 for a 700-sq. ft. one-bedroom apartment to $20,0000 a month for the penthouse, said developer Scott Dobbins.

“And that’s just predicting today,” Dobbins said. “Who knows where we’ll be two years from now.”

Mayor Garcetti was among the dignitaries at a groundbreaking event Wednesday, praising the developers for bringing housing and jobs to L.A. The half-billion dollar Circa project is the latest in a batch of high-end mixed-use developments to hit downtown, including Metropolis and Oceanwide Plaza.

Read Full Article (via SCPR)

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