Six months after breaking ground in South Park, construction has gone vertical at Olive & Pico, a new residential-retail complex from the Wolff Company. The seven-story edifice, designed by Downtown-based TCA Architects, will consist of 293 studio, one-, and two-bedroom apartments above 20,000 square feet of ground-floor retail and restaurant space. The low-rise building will sit atop a three-level underground garage, which will accommodate up to 75 vehicles and 342 bicycles.
Plans filed with the city indicate that Olive & Pico will offer a diverse assortment of residential amenities, including a fitness center and multiple outdoor decks. Additionally, the project will feature 24-hour on-site concierge and valet service, providing a hotel-like experience for residents and guests.
Completion of the $54 million development is scheduled for mid-2016.
Excavation is also underway on an adjacent property at 1200 S. Grand Avenue, future site of G12, a second low-rise development from the Wolff Company. The seven-story building, as designed by TCA Architects, will consist of 347 studio, one-, and two-bedroom apartments above 20,000 square feet of street-level commercial space.
G12 would feature a similar blend of residential amenities to its next-door neighbor, with outdoor decks, a fitness center, and 24-hour concierge and valet service. Those similarities also permeate underground to the building's three-level garage, which will provide parking for as many as 320 vehicles and 402 bicycles.
As can be said for nearly any address in South Park, the Wolff Company projects are surrounded by a profusion of ongoing and future developments.
Last year, a joint venture between AECOM and Mack Urban announced bold plans for a cluster of nearby parking lots. Their project, valued at $750 million dollars, could accommodate up to 1,900 residential units in a series of high-rise and low-rise structures. The first phase of the development - a pair of seven-story condominium buildings - is scheduled to break ground sometime before the end of 2014.
One block west on Pico Boulevard, local landlord Jade Enterprises is planning another mixed-use development. Their project, known as Onyx, would create 410 apartments on two parking lots adjacent to Pico Station.
- Another Big Housing and Retail... (Los Angeles Times)
- Phase II of South Park's Massive G12 Development Revealed... (Building Los Angeles)
- 12 & Grand (The Wolff Company)