Opinion / Christopher Lord
Downtown on the up
The TV adaptation of Fatal Attraction just ended in the US and the finale of this tale of infidelity was perhaps not its most surprising twist. In the retelling, the setting shifted from 1980s New York to the grand law offices, packed diners and after-work boozers of downtown Los Angeles in the early 2000s. It was inadvertently nostalgic for a time when every big firm wanted an office in the urban core.
The picture is quite different today. Downtown Los Angeles just clocked a record 30 per cent vacancy rate for its offices, almost half the occupancy that it had pre-pandemic. The Californian city is not alone – Atlanta has a comparable glut of empty office space, with Washington, Chicago and Philadelphia not far behind. The outlook appears bleak but, in Los Angeles at least, I see signs of an urban transformation happening.
The offices aren’t going to fill up again anytime soon but downtown is becoming a place where people go to have fun instead. There’s a palpable bustle in the bars as well as a steady stream of decent hotels, galleries and retail destinations opening up.
Some quarters are still edgy and the city hasn’t got a grip on homelessness. Yet in the evenings, the streets downtown are not deserted as they were 18 months ago and more people are moving here in search of cheaper rents – a consequence, in part, of relaxed zoning rules that have allowed developers to convert fallow office blocks into homes. San Francisco, the other poster child for downtown deterioration, is only just getting on board with this. A recent report, co-authored by architecture firm Gensler, found that 40 per cent of central San Francisco would be ripe for residential development. Downtown America is in the throes of a painful transition but if it can find its new attraction then this doesn’t have to be fatal.
Christopher Lord is Monocle’s US editor. For more opinion, analysis and insight, subscribe to Monocle today.