The project, known as SB Omega, would consist of a 38-story, 390-foot-tall building consisting of 452 residential units, 21,514 square feet of ground-floor commercial space and parking for 860 vehicles. Plans call for a mix of studio, one-, two- and three-bedroom units, in addition to amenity decks at the podium and roof levels.
Local architect David Takacs is designing the tower, which would be clad primarily with aluminum and steel panels. The project would also wrap its above-grade parking levels with residential units, making it one of only a handful of proposed high-rise developments to do so.
The Planning Department's staff report recommends that the Commission approve SB Omega.
Regardless of whether or not the project ultimately receives sign-offs, it does not appear that Shy intends to build the proposed tower - one of three he announced for Downtown in 2014. Earlier this year, Curbed LA reported that Shy had put the property on the market, with a listed price of $100 million.