By Kelsi Maree Borland | October 24, 2018 at 02:00 PM

Metropolis has had a big impact on the local economy, according to Greenland USA, the developer of the project. While sales of the second tower have just started, the first tower of the four-tower project, which includes two residential towers and a hotel, is already 80% sold. During the construction project, the development will have created 15,000 total jobs, making a tremendous impact on the local economy. In addition, Metropolis is fulfilling a need for more housing in the DTLA submarket.

“Metropolis is the largest mixed-use project West of the Mississippi,” Na Ye, associate director of marketing and sales at Greenland USA, tells GlobeSt.com. “Our ambition was to create a property that would revitalize this area of downtown; to create homes for families, restaurants and retail for gathering and to become part of the intricate fabric of the invigorated urban core. Today, Metropolis is meeting the local need for more housing to support the city’s growing population interested in urban living and providing more than 15,000 well-paying jobs to people from L.A. County over the course of its construction.”
At its construction peak, the project created 1,700 union jobs in more than 20 trades. “Virtually all of them were the primary breadwinners for their families and we met, and in many cases, exceeded local hire, female and minority participation goals,” adds Ye. “We partnered with our general contractors and individual trades to develop apprenticeship programs and to support programs like ‘Helmets to Hardhats,’ which assists returning veterans in transitioning back into civilian life.”

The job growth also extends past the construction period. “When fully completed, Metropolis will provide not only an aesthetic improvement and vastly enhanced tax base for the city when compared to the surface parking lot that stood on this site for the preceding 70 years, but it will also provide more than 400 full-time jobs or job equivalents,” says Ye.
In addition to bringing jobs to the market. Metropolis has also been part of the DTLA revitalization. As a result, the developer has worked to be an active participant in the community growth. “Over the past four-and-a-half years, we have strived to be a good citizen and a good neighbor. We have partnered with various neighborhood individuals and groups who share a common vision of making DTLA more family-friendly,” explains Ye. “Metropolis is the first project of its kind in DTLA and a leader in the trend of urban design and mixed-use properties. The legacy of Metropolis will be much more than a forever-changed skyline and four stunning, best-in-class buildings.”

Metropolis is an example of the recent market shift toward highly amenitized buildings in dense urban markets. “While mixed-use developments are not new, it is growing in popularity across all age groups, from millennials beginning their families to empty nesters aiming to make the most of retirement,” says Ye. “With 33% of the population expressing the desire to live in a walkable, urban, mixed-use neighborhood, there is a higher demand for a sense of community. Metropolis, “a within city” provide residents with an accessible eco-system for them to live, eat, and be active in.”

Since Greenland USA originally broke ground, DTLA has evolved tremendously, and as a result, Metropolis has experience healthy sales. “These great sales results have been a testament to the growing desire for people wanting to live, work and play in Downtown Los Angeles,” adds Ye. With all the great dining, retail and entertainment options that have sprung up in the past few years in DTLA, it has increasingly become a very desirable place to call home. Especially as more people are factoring walkability into their decision-making process when deciding where to live. The DTLA real estate market has grown in leaps and bounds over the past few years, and we are very excited to be at the forefront of ushering in this new wave of luxury living.”

GlobeSt.com