Commercial Development Increases Near Transit Hubs

scpcadmin | January 2, 2018 in | Comments (0)

Plans to expand the transit system in car-centric Los Angeles will likely have a positive impact on asking rents and sales of commercial and residential properties, according to data from JLL
Research focused on the expansion of the Metro’s Purple Line service to connect Downtown Los Angeles with the Mid-Wilshire, Beverly Hills, Century City, Westwood and Brentwood markets when completed in 2026. (Currently, it only travels between Union Station and Wilshire and Western.) The study found that the expansion, which will add nine miles and seven new stations to the line, will impact one of Los Angeles’ most densely populated urban pockets with nearly 19.6 million square feet of office space within a quarter mile of all new Purple Line stops. The augmented service is expected to serve 151,000 residents.

Read more:

Commercial Development Increases Near Transit Hubs in Los Angeles

 

Comments are closed.