Financial District, Los Angeles

What is now the Financial District was originally agricultural land, then a residential area of single family homes, then around 1900 started attracting businesses as Victorian-era Downtown L.A. expanded south along Broadway past 3rd Street and "around the corner", west along Seventh Street. Around 1915, 7th Street between Broadway (on which corner stood Bullock's) and Figueroa Street, became downtown's upscale shopping district. This began with J. W. Robinson's deciding to build their flagship store in 1915 on Seventh far to the west of the existing Broadway shopping district, between Hope and Grand streets. The Ville de Paris and Coulter's as well as numerous specialty shops came and rounded out the district. The area lost its exclusivity when the upscale downtown stores opened branches in Hollywood, Mid-Wilshire, Westwood and Pasadena in the late 1920s through the 1940s, notably the establishment of Bullock's upscale landmark branch Bullocks Wilshire in Mid-Wilshire in 1929.^[6]

Thirteen large office buildings opened between 1920 and 1928. By 1929, every plot on 7th between Figueroa and Los Angeles Streets had been developed.^[6]

The area remained an important, if not the most exclusive, center of retail and office space throughout the 1950s, but started a slow decline throughout the 1980s due to suburbanization. It was also the concentration of Downtown financial activity on Bunker Hill, a few blocks north. The flagship department stores like Bullock's (1983), Barker Brothers (1984) and Robinson's (1993) had closed and only the Broadway/Macy's at The Bloc, previously named Broadway Plaza remained. However, in 1986, the Seventh Market Place mall, now FIGat7th, opened, bringing a smaller retail cluster back to Seventh such as the 7th Street/Metro Center station opening in 1991.

The Financial District was created by the Los Angeles Community Redevelopment Agency to provide an alternative to the old Spring Street Financial District, which fell into decline in the second half of the 20th century.

Demand for apartments in downtown Los Angeles surged in 2010 and the years following. In 2015, thousands of apartments were under construction or proposed for the area around 8th Street.^[7]

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  1916 view towards the east on 6th St. from near the Southland Hotel at SW corner of 6th and Flower. Baker-Detweiler Building is on south side of Pershing Square between Olive and Hill.
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  Looking north on Hope Street past Bible Institute of Los Angeles (now Biola University), 1912
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  7th Street looking west from Main Street, 1907, not yet a commercial district
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  7th Street looking west from Broadway, 1917. Bullocks far right; B. H. Dyas sporting goods store, right; Ville de Paris, at left.
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  J. W. Robinson's flagship store on Seventh Street at launch, 1915. Robinson's locating on 7th marked the beginning of the street as the upmarket downtown shopping district
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  Simpson Methodist Episcopal Church, Hope between 7th/8th, c.1890-1905 (CHS-1314).jpg
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  First Congregational Church on Hope Street between 8th/9th, c.1905
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  First Christian Church, Hope and 11th, c.1910

The Los Angeles County Metropolitan Transportation Authority (Metro Rail & Metro Busway), and LADOT (DASH & Commuter Express) provide heavy rail (subway), light rail, and local bus services throughout the Financial Core and to the Greater Los Angeles Area.

7th St/Metro Center station provides primary access to Metro B Line, D Line, A Line, and E Line.

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  U.S. Bank Tower on West Fifth Street
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  Ernst & Young Plaza, SW corner 7th/Figueroa
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  Fine Arts Building, N side of 7th, W of Flower
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  MCI Center (orig. Broadway Plaza), SE corner 7th/Flower
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  Southern California Gas Company Complex, SE corner 8th/Flower

Landmarks in the Financial District include the U.S. Bank Tower (on West Fifth Street), Ernst & Young Plaza, Fine Arts Building, MCI Center (originally Broadway Plaza), and Southern California Gas Company Complex.

Landmarks are shown on the following street grid of the Financial District of Downtown Los Angeles.