Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the April 29, 2009 edition of Women's Wear Daily
Recession Stalls Downtown L.A. Retail
Women's Wear Daily
By Rachel Brown
...The recession has crashed the downtown party conceived for this car-obsessed city, short-circuiting a major push for retail.
A few years ago, visions of a bustling, around-the-clock downtown danced in the heads of developers and government officials. Now, despite pockets of progress, financial struggles have created obstacles to retail and residential projects crucial to making downtown a walkable, mixed-use destination and home instead of a stopover for commuters...
...About 14 percent of downtown residential apartments were vacant in the fourth quarter of last year, compared with 3.4 percent the year before, said Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate. She attributed the rise to new residential offerings at the end of last year and more leasing of condos as apartments...
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April 29, 2009