Construction in LA is booming and there is abundance of opportunity in the region due to the sheer number of largescale construction projects breaking ground or being approved recently. On top of this, construction for Multi-Family and Residential developments has been more than double that of 2015. LA Developers are on course to add approximately 14,000 new units to the multi-family rental market by the end of 2016 which is the largest addition over the last 20 years.
The LA Rams stadium is due to start construction soon, the $2bn Turner/Hunt JV consists of a stadium and a Mixed Use Community development. The stadium is due for completion in 2019 the Mixed Use Community which consists of 3,000 residential units, a manmade lake as well as hospitality and commercial units due for completion in 2023. While the $250m Los Angeles Football Club stadium, being built by PCL broke ground in April of this year.
Paramount Studios recently gained approval from LACC for a $700m redevelopment of their studio in Hollywood. The project involved the demolition of approximately 500,000 sq ft of existing stage and office space and addition of approximately 1.4m sq ft of new construction, the largest new building on the development will be a 150-foot office tower. The project is going to be rolled out in phases over a 25 year period.
While the ongoing $8.5-billion LAX Modernization Program has resulted in a new Tom Bradley International Terminal, airfield and roadway improvements, as well as over $2 billion invested by airlines to renovate Terminals 1, 5, 6, 7 and 8.
If you are looking to either move to the LA region or are already there and are keen to see what else is out there, get in touch. We would be more than happy to help you make a move.
