Mack Urban and AECOM Capital may have yet to wrap up construction at the 37-story Aven development in South Park, but the two companies are already cooking up plans for a pair of even larger towers next door.
Yesterday, the two developers filed plans for skyline-altering mixed-use buildings on two parking lots at the intersection of 11th and Olive Streets. At 1115 S. Olive Street, plans call for a 51-story edifice that would feature 536 residential units and approximately 6,153 square feet of ground-floor retail space. Across the street at 1120 S. Olive Street, a 60-story building containing 713 residential units and 11,277 square feet of ground-floor commercial uses would rise immediately north of the AT&T Center.
The proposed towers would represent the full buildout of a proposed "urban village" first announced in 2014, which also includes Aven and the WREN apartments on Pico Boulevard. A total buildout of the project would contain more than 2,100 dwelling units, in addition to a proposed hotel at 12th and Olive Streets.
The filing on May 3 will likely allow the project to vest prior to the full implementation of the City of Los Angeles' linkage fee ordinance, which is set to occur on June 18. The fees are intended to provide a dedicated funding stream for approximately 1,500 units of affordable housing per year.
Across the intersection of 11th and Olive, developer Crescent Heights has also announced plans for its own mixed-use tower. Their project, a 70-story, 810-foot-tall building, would contain up to 794 residential units.
- South Park Archive (Urbanize LA)