LA construction rebounds: $7.3 billion in permits projected for FY 2021-22

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lax terminal 4 mondernization
LAX Terminal 4 Modernization (Image from Los Angeles World Airports)

Construction in the first quarters of fiscal year 2021-22 in Los Angeles has rebounded solidly from the same period last year, according to data reported by the Los Angeles Department of Buildings and Safety (LADBS).

LADBS also reported in its quarterly newsletter on Oct. 14 that the largest project to be permitted between July 1 and Sept. 30 is the $554.1 million addition and interior renovation at existing Terminal 4 at the Los Angeles International Airport.

Year-To-Date Statistical Comparison
First Quarters 2020-21 and 2021-22

  Construction Indicator
FY 2020-21
FYTD – Q1
FY 2021-22
FYTD – Q1
% Change
FY 2021-22
Budget Projections
Building Permit Valuation

$1.6 Billion

$1.8 Billion

13%

$7.3 Billion

Number of Permits

34,692

42,245

22%

169,000

Number of Plan Checks

16,140

17,290

7%

69,000

Inspections Performed

241,309

246,062

2%

984,000

The top five projects based on construction valuation between July 1 and Sept. 30 are:

Project Address Construction Valuation Project Description
400 World Way $554.1 million New construction — Proposed addition and interior renovation at existing Terminal 4 at the Los Angeles International Airport.
11332 W. Santa Monica Boulevard $333.4 million New construction — Proposed eight-story, 492-unit apartment building.
300 World Way $202.0 million New construction — Proposed addition and renovation at existing Terminal 3 at the Los Angeles International Airport.
333 S. Hope Street $109.6 million New construction – Proposed addition of a 33-story, 336 unit mixed use apartment building over an existing 11-story building.
18030 N. Cahuenga Boulevard $100.0 million New construction — Proposed 19-story, 173-unit apartment building.

Here is a list of the largest affordable/supportive housing projects permitted during the summer:

Project Address Project Affordable/Supportive
Housing Units *
555 S. Crocker Street Downtown Los Angeles 275 very low-income units; Valuation – $66.4 million
401 E. 6th Street
Downtown Los Angeles
10 low-income units; 83 very low-income units; Valuation – $9.4 million
319 N. Beacon Street
Central Hollywood
89 affordable units; Valuation – $4.2 million
711 S. New Hampshire Avenue
Koreatown
83 affordable units; Valuation – $9.5 million
437 S. Westlake Avenue
Westlake
55 low-income units; seven (7) extremely low income units; Valuation – $8.7 million

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