The project, which is being developed by MacFarlane Partners, consists of a 24-story tower and a seven-story podium-type building on a longtime parking lot lining 5th, Olive and Hill Streets. The rpoject, which is scheduled for completion in February 2019, will offer 660 rental apartments and 14,000 square feet of ground-level retail space.
Portland-based architect Ankrom Moisan is designing the mixed-use complex, which will include open space amenities such as a landscaped courtyard and a rootop infinity pool.
Park Fifth may set the stage for another slate of changes surrounding the Pershing Square subway station, including a makeover of its namesake park and a potential 57-story tower at 5th and Olive. At one of its northern entrances on 4th Street, developer Equity Residential has announced plans to construct a mixed-use tower on a current parking lot. Across the street, MacFarlane is one of three finalists for the proposed development of the long-vacant Angels Knoll site.
- Park Fifth Archive (Urbanize LA)