The development onslaught continues in Downtown’s booming South Park neighborhood, as yet another underutilized property makes way for a mixed-use development. Earlier this month, Los Angeles-based 4D Development & Investment broke ground on a new residential-retail complex at the northwest corner of Pico Boulevard and Grand Avenue. The project, described by an official website as “Alley-Pico,” will consist of a seven-story building featuring 112 residential units, 5,000 square feet of ground-floor commercial space. Plans call for a mixture of studio, one- and two-bedroom dwellings, supplemented by amenities such as a fitness center, a swimming pool and a rooftop deck. The seven-story building will also sit above a two-level underground garage, offering parking accommodations for up to 95 vehicles and 112 bicycles. Renderings from architecture firm AFCO Design portray a modern low-rise structure, clad with cement plaster, aluminum panels and simulated wood siding. The building will feature several environmentally friendly design elements, including drought-tolerant landscaping and a green roof system. Located at 1249 South Grand Avenue, the new residential complex will stand upon the former site of the Ponet Square Hotel, a modest apartment house which occupied the property from the early 20th century until 1970, when a tragic fire gutted the building. However, several design elements fromt he long forgotten four-story edifice are echoed by the new development, specifically its rounded corner and concave bend along Grand Avenue. For more information about the Ponet Square Hotel and other historic buildings, please visit Urban Diachrony.