Mitsui Fudosan America has set a new course to build a 50-story mixed-use apartment building in Downtown Los Angeles.
The U.S. subsidiary of Tokyo-based Mitsui Fudosan has updated plans for a 580-unit tower planned for the north side of 8th Street, between Grand Avenue and Hope Street, Urbanize Los Angeles reported.
The firm initially called for a 44-story, 580-unit project in 2017, to replace a parking lot and small garage.
Plans now call for a 50-story highrise above 7,500 square feet of ground-floor shops and restaurants, with parking for 636 cars. Plans call for studio, one-, two- and three-bedroom apartments with balconies.
The 555,000-square-foot building would include 65,000 square feet of open space, plus a pool, gym, spa and juice bar, as well as yoga and fitness areas and barbecue and dining areas. It would offer a dog run and pet area.
The 8th Grand & Hope project, designed by Gensler of San Francisco, was inspired by the city’s sleek mid-century Modern homes.
The building would feature layered white balconies, each rising in a series of four block-like steps, with landscaped terraces at each juncture. Plans call for an exterior of glass, concrete, aluminum and stone.
Its above-grade parking, screened by landscaping, would face the west side of the building facing Hope Street. But because its parking floors are designed without a slope, they could someday be converted to 189 more apartments.
Pending possible approvals next year, the Mitsui Fudosan development could break ground in 2024 and be completed in 2027.
Earlier this month, Mitsui Fudosan America completed a 42-story residential highrise at 8th and Figueroa Streets.
Just across Hope Street, National Real Estate Advisors is pursuing entitlements for a project which would build a 53-story highrise tower with 466 apartments above The Bloc’s parking garage.
— Dana Bartholomew
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