The project, located at the site of a former Fred Segal store at 5th Street and Broadway, will consist of a seven-story building featuring 249 apartments above 55,000 square feet of retail space and a basement parking garage.
The contemporary steel-frame building, designed by Koning Eizenberg Architecture, will include multiple setbacks at its ground level - providing open space for use by commercial and residential tenants. Plans also call for a landscaped amenity deck at the project's roof level.
Construction is scheduled for completion in late 2021.
A short distance north of The Park, prolific Santa Monica developer WS Communities is planning five similar mixed-use projects along the two-block stretch of 5th Street between Broadway and Arizona Avenue.
Witkoff and New Valley, LLC previously developed an Edition Hotel with branded condominiums on the Sunset Strip.
- 500 Broadway (Urbanize LA)