The $300-million Park Fifth development is more than halfway to its 24-story peak across the street from Pershing Square in Downtown Los Angeles.
The two-building development, designed by Ankrom Moisan Architecture, which also features a podium-type seven-story building, will comprise 660 rental apartments and 14,000 square feet of ground-floor commercial uses when completed in 2019.
Plans call for open space amenities including a paseo at the northern side of the project site, as well as amenity decks in both the mid-rise and high-rise building.
MacFarlane Partners, the San Franciso-based investment firm which is building Park Fifth, is part of a team that recently won the development rights to Angels Landing, a vacant parcel of land located one block north of Pershing Square. The development team has unveiled plans for a skyline-altering project that would include towers of 88 and 24 stories, featuring 425 apartments, 250 condominiums, a 192-key SLS hotel, a 289-key Mondrian hotel, and a mix of commercial uses and open space.
Another high-rise tower is also in the works for an L-shaped property located at 5th and Hill Streets.
- Park Fifth Archive (Urbanize LA)