Beverly Hills-based developer Bolour Associates continues to push forward with plans for a residential-retail near L.A. Cleantech Incubator in the Arts District.
The project, which would rise from an L-shaped property at 527 S. Colyton Street, calls for the construction of a 12-story building featuring live/work lofts and pedestrian-oriented retail space. According to an initial study published yesterday by the City of Los Angeles, the proposed mid-rise structure would feature 310 studio, one-, two-, and three-bedroom dwellings - including 30 to be set aside for very low-income households - with 27,401 square feet of shops and restaurants and two levels of subterranean parking for 237 vehicles.
Portland-based Ankrom Moisan Architecture is designing the project, which would stand just shy of 149 feet in height. The building's style is described as modern, with an exterior facade that employs materials such as weathered steel panels, perforated metal screens, and exposed concrete, with public art displayed in prominent locations. A highlight of the design is a seven-story opening carved into project's Palmetto Street frontage, creating space for an open-air plaza.
Construction is anticipated to occur over a period of 29 months, with project occupancy anticipated in 2023 according to the initial study.
The project is one of several mid-rise developments currently in planning near the L.A. Cleantech Incubator, including Arts District Center, which would create a similar 12-story structure feature condominiums and a hotel a block north.
Bolour Associates' other Arts District venture is the AMP Lofts, a pre-recession development which the company revived in 2013. The 320-unit live/work project is currently under construction as part of a joint venture with Greystar Real Estate Partners.
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