Three months after breaking ground across the street from Pershing Square, construction has gone vertical for the $300-million Park Fifth development.

San Francisco-based MacFarlane Partners is developing the mixed-use project, which features both a 24-story tower and a seven-story apartment building on a former parking lot fronting 5th, Olive and Hill Streets.  A full buildout of the development, scheduled to occur by February 2019, will create 660 apartments and 14,000 square feet of ground-level commercial space.

Ankrom Moisan Architects is designing the the mixed-use complex, which is highlighted by amenities such as a landscaped courtyard, an infinity pool and a fitness center.

The project serves as a prelude to the planned redesign of Pershing Square, as well as a proposed high-rise hotel and residential tower across Hill Street.

Image via Ankrom Moisan Architects, Inc.
Image via Ankrom Moisan Architects, Inc.
Image via Ankrom Moisan Architects, Inc.

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Senior Affordable Housing Opens Near Orange County's Great Park

The two-building development features 157 apartments.

Developers Related California and FivePoint have opened a new affordable housing complex near Irvine's Great Park.  The project, called Luxaira, features 157 residential units catering to low-income seniors.  It is the second senior affordable development to be built in the Great Park neighborhoods by Related, FivePoint, and collaborator RCC Charitage.  To date, more than 500 affordable housing units have been built around the park in four separate projects.