Mitsui Fudosan America's next Financial District tower could break ground by Spring 2019, per an initial study published earlier today by the City of Los Angelse.
The "Eighth, Hope & Grand Project," as the development is tentatively known, would replace structured and surface parking, with a 39-story tower featuring 409 studio, one- and two-bedroom dwellings atop approximately 7,300 square feet of ground-floor retail space.
Minor changes has evolved from the design first presented earlier this year, which comes from the Downtown-based firm Johnson Fain. The tower has grown from a maximum height of 467 feet to a taller 499-foot structure. An attached parking garage, which would be situated in three above-grade and three below-grade levels, now calls for 494 vehicle stalls, instead of the 433 seen in the original submission.
A conceptual rendering portrays a contemporary high-rise building, clad with concrete, metal and glass.
Completion of the tower is anticipated in Fall 2021.
MFA is also behind plans for a similar mixed-use development that would replace a longtime parking lot at 8th and Figueroa Streets. City records have pointed to a March 2018 start date for that project.