Developers kept busy this year, planning mega-projects in different pockets of the city. A handful of the top 10 biggest projects proposed this year are Downtown Los Angeles, with others located in Hollywood, Studio City and Palms.
Jade Enterprises, a family-run development firm, is working on two of the biggest projects proposed in 2018. Pending approvals, the firm alone would bring 613 new units to the Downtown area.
Combined, developers filed plans to add about 6,784 housing units and 949 hotel rooms.
The Real Deal compiled its list based on site plan review applications filed with the Los Angeles Department of City Planning in 2018, as of December 21, 2018.
1115 – 1120 South Olive Street, Downtown | Mack Real Estate Group & Aecom Capital
A joint venture between Mack Real Estate Group and AECOM Capital, the investment arm of AECON, filed plans to build two new skyscrapers in Downtown Los Angeles’ South Park neighborhood. City Planning filings from May reveal the developers want to build a 51-story building with 536 units at 1115 South Olive Street, and another 60-story tower with 713 units at 1120 South Olive Street. A pair of parking lots currently exist on the sites.
Hollywood Center, Hollywood | Millennium Partners
Millenium Partners advanced with their long-planned $1 billion Hollywood Center project in April, filing new plans with the city. The massive undertaking, which was first proposed in 2012, would now include 35- and 46-story towers, along with two 11-story buildings. Combined, the project would bring 1,005 new housing units to 1766 North Vine Street in Hollywood. In the most recent iteration, Millenium dropped plans for 100,000 square feet of commercial space, instead choosing to increase the number of residential units.
1111 Sunset, Echo Park | Palisades
In Echo Park, Palisades filed plans to build a three-building development at 1111 Sunset Boulevard. The project would include 778 condos — 76 of which would be affordable — and a 98-room hotel, according to the filing from January. There would also be 48,000 square feet of office space and 95,000 square feet for retail options. SOM and Natoma Architects are designing the development. Construction is expected to be completed by 2028, pending approvals.
South Park Towers, Downtown | Jade Enterprises (Jacob Taban)
Another pair of high-rise towers has been proposed for South Park — this time by Jacob Taban of Jade Enterprises. The South Park Towers, proposed for 1623 South Hope Street in Downtown — would rise 22 and 23 stories tall. A filing from June reveals the 22-story tower would hold a 300-key hotel, while the 23-story building would house 250 residential units. There would also be about 13,000 square feet of commercial space and parking for 288 cars. Taban, one of the owners of prolific Downtown developer Jade Enterprises, is listed as the applicant for the 452,600-square-foot project.
3670 Crenshaw Boulevard, Leimert Park | Charles Co.
The Charles Co. revised its plans for a residential tower at 3670 Crenshaw Boulevard in Leimert Park in June, just a few weeks after one of its founders was arrested on charges of bribery. In its most recent form, the project would include 573 units within a mixed-use project near the Metro’s Expo/Crenshaw station. There would also be retail and restaurant options on-site. Original plans called for a two-story, 300,000-square-foot retail center.
1111 South Hill Street, Downtown | Crown Group
In May, Crown Group requested approvals to build a new 52-story mixed-use tower at 1111 South Hill Street in Downtown. The South Park project would house 528 condo units, as well as some ground-floor commercial space. A warehouse currently existing on site would have to be demolished to make room for the new development. An entity named Crown South Hill, controlled by Crown Group’s co-founder Paul Sathio, is listed as the applicant on the project. Crown Group builds upscale multifamily units across the world, and has offices in L.A., Sydney, Jakarta and Melbourne.
6300 West Third Street, Mid-Wilshire | Arba Group
Arba Group, owned by Ira Smedra and Jacob Wintner, proposed building a 26-story mixed-use project in May. The new development, designed by MV+E Partners, would include 380 residential units at 6300 West Third Street. There would also be about 146,000 square feet of retail at the 125,000-square-foot development. Residents in the neighborhood have been pushing back due to the project’s scale, which they say is out of touch with the rest of the Mid-Wilshire area.
1123-1161 South Main Street, Downtown | Jade Enterprises (Daniel Taban)
Earlier this month, another member of the Taban clan filed plans to build a 363-unit apartment tower at 1123 – 1161 South Main Street in Downtown. Daniel Taban, an executive at Jade Enterprises, is listed as the applicant. The 30-story building would sit above a four-story podium with 12,500 square feet of retail, and parking for 373 cars. MV+E Partners is designing the project, which would replace a strip of low-rise commercial buildings.
Sheraton Universal Hotel (expansion), Studio City | Shenzhen New World Group
Chinese real estate developer Shenzhen New World Group proposed a new 31-story hotel near Universal Studios earlier this year. According to a June filing, the building would include 551 hotel rooms within a 293,245-square-foot building. It would be located at 333 Universal Hollywood Drive on a 8.6-acre site owned by Shenzhen New World. The firm also owns the 20-story Universal Hilton on the grounds.
3443 South Sepulveda Boulevard, Palms | Reliable Properties
A seven-story building with affordable housing could soon go up in the Palms neighborhood. Reliable Properties, acting through an entity, filed plans proposing a mixed-use building at 3443 South Sepulveda Boulevard that would include 409 units, and some retail and dining options. Out of the 409 apartments, 45 would be set aside for low-income residents. Reliable Properties, which bought the 121,000-square-foot lot in May, filed for approvals in May.
Source: The Real Deal Los Angeles