Equity Residential continues to push forward with plans to construct an apartment tower near Grand Central Market, with the release of the project's initial study in February.
Plans for the 33-story building at 4th and Hill Streets first emerged in 2015, when Chicago-based Equity officially submitted plans to the City of Los Angeles. The proposed tower would rise to a maximum height of 410 feet above grade, featuring 428 residential units - approximately 45 percent of which would be set aside for low income, moderate income and workforce housing. At ground level, the building would wrap around an entrance to Metro's Pershing Square Station with approximately 5,600 square feet of commercial uses, including a leasing office and retail space.
The look of the proposed tower has evolved significantly over the past two years to become better adress surrounding properties on Hill Street and Broadway. Updated renderings from TCA Architects show show improved articulation on the building's lower levels, which blends three stories of above-grade parking with the residential units above. Windows have been added to the the northern side of the podium, which was previously portrayed as a blank wall.
Plans for amenities decks atop the buildings roof and podium remain unchanged.
Construction of the tower at 340 S. Hill Street is expected to occur over approximately 29 months, although a start date has not been announced.
Despite its impressive scope, Equity's tower will likely be eclipsed by a currently hypothetical project across the street. The City of Los Angeles has officially started soliciting developers for the Bunker Hill Y-1 parcel, otherwise known as Angel's Landing, which boasts generous entitlements and no height limitations.