A mixed-use development featuring senior housing and medical offices could rise just south of Metro's Pico Station.
The project, which is being developed by Inception Property Group, is billed as the first speculative healthcare development in the Downtown area. Plans call for the construction of a seven-story structure featuring 410 senior apartments at 1334-1356 S. Flower Street and a smaller 75-unit building fronting Hope Street to the east.
Renderings depict a contemporary mid-rise structure with cantilevered balconies overlooking Flower Street.
"For years now, the Downtown area has consistently added tens of thousands of new residents and jobs, however it remains categorized by the State as both a medically underserved area as well as a primary care shortage area," said Inception Property Group partner and co-founder Peter Becronis. "We anticipate significant interest from both healthcare providers as well as senior living operators...."
The project, which would rise just west of Dignity Health's California Hospital Medical Center, is slated to break ground in 2021 and open by 2023.
The Flower Street development is not Inception's first venture into the healthcare arena in Downtown Los Angeles. The developer previously partnered on the Downtown West Medical complex in the Pico Union, which was fully pre-leased by Healthcare Partners.
The project site - which is currently developed with a series of small commercial buildings - was previously entitled for the construction of a seven-story, 151-unit market rate apartment complex. The property was put up for sale last year.
- Downtown (Urbanize LA)