A new residential high-rise in downtown Los Angeles has been approved by Los Angeles City Planning nearly five years after being first proposed. Located at the corner of West 11th and South Olive streets in the South Park neighborhood, the 70-story building would reach 247 meters (810 feet) and provide 794 residential units, including 24 on-site workforce housing units.
1045 Olive’s indoor and outdoor amenity offerings would include several open-air terraces, community and recreational rooms, a fitness center, and a rooftop deck with landscaped areas, an event deck, outdoor kitchen and dining areas, a pool and spa, and a children’s playground.
Six levels of underground parking would be combined with nine levels of above-ground parking in the building’s podium for a total of 891 vehicle spaces. To disguise the parking element and add visual appeal, a zigzagging exoskeleton would be used on the podium. Approximately 1,161 square meters (12,500 square feet) of ground-floor restaurant and retail space is also planned, along with a public plaza featuring landscaping and art installations.
Developer Crescent Heights will contribute more than US$10.6 million to the Citywide trust fund for affordable housing and US$200,000 to the South Park Business Improvement District for the creation of a parklet and a dog run. Another US$10.8 million is slated for public benefits, including the construction of the public plaza at the southeast corner of the site.
The rectangular-shaped, 3,539-square-meters (38,097-square-foot) development site is currently occupied by five one-story commercial buildings, surface parking lots and alleyways. 1045 Olive will have to be approved by City Council before site clearing and construction can begin.
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