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A residential-retail development could be headed for a vacant lot near MacArthur Park, according to documents published by the Los Angeles Department of City Planning.

The project site, a currently vacant lot at the northwest corner of Olympic Boulevard and Hoover Street, is slated for a seven-story building that would feature 173 residential units above 36,000 square feet of ground-floor commercial uses and 228 parking spaces.

City records list the project's applicant as N.Y. Properties, a limited liability company controlled by a member of the Neman family, which owns numerous properties in Downtown Los Angeles.

Conceptual renderings of the site portray a contemporary mid-rise structure, highlighted by an elevated courtyard that would provide outdoor amenities facing Olympic Boulevard.

The underlying property has been all but completely vacant since the early 2000s, and is currently listed for sale at a price of $26 million.

Image via CBRE
Image via CBRE
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