Downtown Los Angeles’ South Park neighborhood could gain another high-rise development.
1045 Olive, a 70-story tower that was first proposed in late 2016, got the green light from Los Angeles City Planning this week and will now be forwarded to City Council for final approval. The project by Miami-based developer Crescent Heights calls for 794 residential units, including studio, one-, two- and three-bedroom floorplans.
Six levels of underground parking would be combined with nine levels of above-ground parking in the building’s podium for a total of 891 vehicle spaces. Approximately 12,500 square feet of ground-floor restaurant and retail space is also planned, along with a public plaza featuring landscaping and art installations.
There would be extensive indoor and outdoor amenity offerings, including several open-air terraces, community and recreational rooms, a fitness center, and a spacious rooftop deck complete with landscaped areas, an event deck, outdoor kitchen and dining areas, a pool and spa, and a children’s playground.
In addition to 24 on-site workforce housing units, Crescent Heights will contribute more than $10.6 million to the Citywide trust fund for affordable housing and $200,000 to the South Park Business Improvement District for the creation of a parklet and a dog run. Another $10.8 million is slated for public benefits, including the construction of the public plaza at the southeast corner of the site.
The rectangular-shaped, 38,097-square-foot development site is currently occupied by five one-story commercial buildings, surface parking lots and alleyways. At a height of 810 feet, the proposed project would be the tallest residential tower in Los Angeles and the fourth tallest overall.
ODA Architecture envisioned the sleek glass tower and offset podium, which creates opportunities for verdant outdoor spaces. To disguise the parking element and add visual appeal, a zigzagging exoskeleton would be used on the podium. The pedestrian realm would be animated with greenery, including a trellis-like structure for climbing vines in the public plaza.
Located at the corner of West 11th and South Olive streets, the proposed project would put future residents within a 10-minute walk of the Pico Metro station, served by both the A and E lines. Neighborhood attractions include the STAPLES Center, L.A. Live, FIDM, and The Theatre at Ace Hotel.
1045 Olive will have to be approved by City Council before site clearing and construction can begin.
