With a tower crane on site, construction is now going vertical for a new residential-retail complex in the booming South Park neighborhood of Downtown Los Angeles.

The mixed-use development, dubbed the Project at Pico, will consist of a pair of seven-story structures located on namesake Pico Boulevard between Olive and Hill Streets.  The buildings, designed by Los Angeles-based architecture firm AC Martin, will offer a combined total of 360 condominiums, 6,400 square feet of ground-level retail space and 382 underground parking spaces.  Plans also call for a variety of residential amenities, including a swimming pool, a fitness center and green space.

The Project at Pico is the first component of an approximately $750 million mixed-use community which is being developed by a joint venture between developer Mack Urban and engineering giant AECOM.  A second phase of the project, slated to break ground later this year, would include a 37-story condominium tower on Grand Avenue.  Tentatively scheduled for completion in 2024, a full build-out of the project could include up to 1,900 residential units.

In addition to the Mack Urban and AECOM development, four similar low-rise complexes are currently under construction to the west along Pico Boulevard.

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Proposed 77-Story Tower Would Be L.A.'s Tallest Building

Chinese developer plans the tallest building West of the Mississippi River.

Last year, the Wilshire Grand claimed the title of the West Coast's tallest building, with a slender spire that peaks 1,100 feet above Downtown Los Angeles.  But a newly proposed tower just up the street seems to be gunning for its crown at the highest tower west of the Mississippi River.

Last week, Chinese developer Shenzhen New World Group filed plans with the City of Los Angeles to redevelop the 1980s L.A. Grand Hotel Downtown at 333 S.