Improved Economic Outlook Makes Way for Downtown LA High Rise

Los Angeles from the air

Los Angeles – A downtown Los Angeles high-rise proposed for Hope Street that was put on pause due to the economic downtown is back in play.

Officials with Wood Partners, an Atlanta-based firm, announced Friday that they play to move ahead with construction on the all-glass, 22-story apartment tower, reported Los Angeles Downtown News.  The developers plan to break ground in September.  Leasing is expected to start in the summer of 2014, according to the Downtown News website.

Plans call for the construction of a 290-unit building that would include one- and two-bedroom apartments with floor-to-ceiling glass walls, balconies, a pool deck, a six-floor parking garage, and 5,000 square feet of retail space. The cost of the project has not been released.  The site for the project at 801 S. Hope St. is a parking lot now.

Wood Partners bought the parcel in 2008 and planned to build the high-rise then, but delayed construction because of the lagging economy.

– Photo Marshal Astor from wikipedia, Downtown LA aeriel view, under Creative Commons Lic.

 

 

Avatar of Melanie Johnson About Melanie Johnson

Melanie Johnson, a Southern California based writer, works as an editor for an online media company. She earned a bachelor’s degree in English (1997) from Cal Poly Pomona and a master’s degree in journalism (1999) from Syracuse University. Melanie has worked the bulk of her 13-year career in newspapers, including stints at the San Bernardino Sun and the Press-Enterprise in Riverside. She has covered a wide variety of beats, including city government and education. She also has worked as a freelance writer and editor.