Downtown Hollywood shows signs of growth amid development wave

By the numbers: More than 674,700 people visited downtown during the period covered by the city's latest quarterly report — a nearly 7% increase from the year before.

• The World Cup watch party in late June brought more than 30,000 people to downtown, where businesses reported significantly higher foot traffic and sales.
• At the same time, vacancy rates for downtown apartments fell from 17% to 12% over the last quarter, even as new units were added over the last year.

Zoom in: Three properties that opened last year — The Tropic, The Holly by Soleste and Revv Hollywood — added 703 units to the market and more tenants are moving in.

• For instance, Revv's vacancy rate dropped from 83% to 56% from the quarter before.

Yes, but: There are still plenty of empty storefronts in downtown.

• More than 20% of the storefronts are vacant, the report found.
• The number of vacant storefronts dropped from 47 to 43 from the previous quarter, as four previously empty spaces were leased and undergoing renovations.

What's next: The report noted that four new businesses have opened, with nine more on the way.