This Proposed Tower Could Become Southern California's Tallest Residential Building
Plans for a 70-story, 810-foot mixed-use development have been revealed for downtown Los Angeles' South Park neighborhood. The tower is currently referred to as 1045 Olive—its address at the corner of 11th and Olive Streets—and it will be the tallest residential building in Southern California (San Francisco's still-under-construction 1,070-foot Salesforce Tower includes some residential space, making it the state's tallest).
According to Urbanize LA, 1045 Olive will include 794 apartments, and 12,504-square-feet of retail space that may include a restaurant and "market hall" (great, more food halls). Renderings of the design show a cantilevered tower with a common area for the building standing out as a metallic band in the structure's middle. The space appears to include an open-air pool and other building amenities.
“LA’s Downtown is really organized by a series of office buildings," said Jerold Neuman, an attorney at Linear, LLP., a firm representing 1045's developer, notes Curbed LA. "Even if you look at the residential towers Downtown, they’re sort of replicative of other office buildings in the area. ...This building breaks that mold. This building makes most of its defining elements horizontal in nature, as you would see in residential neighborhoods.”
The building is being developed by Miami-based Crescent Heights, which also developed Century City's Ten Thousand tower along Santa Monica Boulevard, and was designed by ODA New York. Curbed notes that no low-income units have been decided on for the building. According to the Los Angeles Business Journal, Crescent Heights paid $11.5 million for the half-acre site in 2015, and Urbanize notes that the project will use California's Environmental Leadership Development Program to fast-track permitting.
A timeline for the development has not been revealed.