Fresh off announcing plans to redevelop Times Mirror Square, Onni Group is continuing its singlehanded mission to rewrite the Downtown Los Angeles skyline.
Last week, the Vancouver-based developer filed plans with the City of Los Angeles to construct a 48-story tower at 1000-1022 S. Hill Street. The 470,000-square-foot building would feature 498 residential units above approximately 8,700 square feet of ground-floor commercial space and parking for 711 vehicles.
Onni has also requested transfer of development rights and the approval of a master conditional use permit to complete the proposed development, which would replace a surface parking lot fronting Olympic Boulevard.
Since 2012, the company has gone on a buying spree throughout the neighborhood, scooping up the properties such as a mid-rise office building in the Financial District and the historic Los Angeles Times headquarters.
Most recently, Onni paid $56 million to purchase a 1920s building on Broadway.
The surrounding stretch of Olympic Boulevard has been transformed over the past two years by a series of developments from the Hanover Company, Lennar Corporation and Geoff Palmer.
Directly across the street, another developer has announced plans for a similar 20-story tower.