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Press RoomIn the NewsLos Angeles Downtown News: As the Calendar Changes, Some Big Downtown Problems PersistBy Ryan Vaillancourt. While there is plenty of reason for optimism in Downtown in 2013, there are also several worrisome matters. January 09, 2013 It's well known that Downtown is in a mini housing boom, with nearly a dozen apartment projects under construction or nearing a groundbreaking. That rush in building is driven by a simple reality: Occupancy for market rate Downtown housing is currently around 98%, or effectively full. This has caused rental rates to jump — they increased 6% in 2011 and were projected to rise another 6% in 2012, according to the USC Lusk Center for Real Estate's Casden Multifamily Forecast. |
