South Park WELCOME HOME

Lightstone, a privately-held real estate firm based out of New York, has officially announced plans for a large mixed-use complex near the Los Angeles Convention Center. The project, to be known as Fig+Pico, would replace a parking lot and a small commercial building at the northeast corner of Figueroa Street and Pico Boulevard. Plans call for the construction two hotel towers containing approximately 1,100 guest rooms, meeting spaces, amenities and 20,000 square feet of ground-floor retail space.

One month after filing plans for a $500-million expansion of the J.W. Marriott hotel complex at L.A. Live, sports and entertainment giant AEG will present details on the project to the Downtown Los Angeles Neighborhood Council’s Planning and Land Use Committee. The proposed development, which is being designed by global architecture firm Gensler, calls for the construction of a 38-story hotel tower at Olympic Boulevard and Georgia Street featuring 755 guest rooms and approximately 17,800 square feet of street-fronting retail space.

Quantum Capital Partners and Pacific Southwest Realty Service have announced the start of construction on a 110-unit apartment complex in Downtown Los Angeles. The seven-story development is rising from a .57-acre site at 1400 S. Figueroa Street, replacing a surface parking lot across the street from the Los Angeles Convention Center. Plans call for approximately 1,400 square feet of retail space and four- live-work lofts on the building’s ground level. Residential amenities will include a fitness center, a rooftop deck, an outdoor swimming pool and parking accommodations for 114 vehicles and 126 bicycles.

Yesterday, in a presentation to the Downtown Los Angeles Neighborhood Council’s Planning and Land Use Committee (DLANC), new details were revealed for 1233 S. Grand Avenue, an upcoming residential tower in the South Park neighborhood. The proposed development, intended for the site of a current surface parking lot, would consist of a 24-story building featuring 161 residential units and nearly 2,100 square feet of ground-floor retail space. Plans call for a combination of studio, one- and two-bedroom flats, as well as townhouse units and penthouse suites.

The website of architecture firm MVE + Partners has revealed renderings for “Emerald,” a proposed residential-retail complex in Downtown Los Angeles. The project is slated for a .67-acre parking lot on the eastern perimeter of the South Park neighborhood. Plans call for a seven-story structure, offering 154 apartments above approximately 10,700 square feet of ground-floor commercial space and two levels of underground parking. Renderings portray a contemporary L-shaped building, featuring a rooftop deck, a podium-level swimming pool and a corner retail plaza.

Lendlease, an international property and infrastructure company, has announced the completion of the initial mat foundation pour for the Oceanwide Plaza development in Downtown Los Angeles. This milestone will allow for vertical construction of the project to begin. The initial pour, which occurred during March 25th-26th, is described as one of the largest construction mat pours in the Los Angeles history. Crews from Lendlease worked with 700 concrete trucks to pour 7,000 cubic yards of concrete over 700 tons of rebar.

Recent years have seen Downtown’s once ample stock of large surface parking lots give way for a series of high-rise developments. Now, one of the neighborhood’s older mixed-use buildings will implement a series of modifications in order to keep up with the evolving neighborhood. Last week, all tenants of the 22-story tower at 801 S. Grand Avenue were notified that an expansion of the 1980s high-rise is expected to commence before the end of April.

Aerial images captured by photographer Hunter Kerhart showcase the construction of 801 S. Olive Street, a new residential tower in Downtown Los Angeles. The 33-story building from San Franciso-based real estate firm Carmel Partners will feature 363 residential units and 10,000 square feet of ground-level commercial space when completed in 2017. According to the website of Solomon Cordwell Buenz, the project’s design architect, plans call for two amenity decks located on the fifth and roof levels of the building.

Project management and construction firm Lendlease has announced the topping out of TEN50, a high-rise residential development in Downtown Los Angeles. The $100-million project from San Francisco-based developer Trumark Urban consists of a 24-story structure featuring 151 condominiums and approximately 5,900 square feet of ground-floor retail space. The building, which rises to a peak height of 235 feet, is built with more than 20,000 cubic yards of concrete and 2,300 tons of reinforced steel.

With a trio of construction cranes now in place, South Park’s $900-million Oceanwide Plaza development is now ready to begin its vertical climb. The mixed-use complex, which is being developed by the Beijing-based Oceanwide Real Estate Group, will consist of three high-rise buildings on a 4.6-acre site across the street from Staples Center and L.A. Live. The 49-story north tower, currently the second tallest building under construction in Los Angeles, will consist of 164 luxury condominiums and a five-star, 183 room hotel.