Fresh off approvals for a large apartment project in the Fashion District, Jade Enterprises sees more opportunity for residential development on the block.
The Downtown-based development filed plans for a 363-unit apartment tower at 1123-1161 South Main Street, according to Urbanize. The 30-story building would sit above a four-story podium with 12,500 square feet of retail, and parking for 373 cars.
The project will complement Jade’s other apartment construction on the block, a 379-unit building that won City Council approval in August.
MV+E Partners is designing both developments.
The 30-story tower would replace a strip of low-rise commercial buildings on the block.
After years operating as a commercial landlord in Downtown, Jade has turned its attention toward residential development, and has invested heavily.
The firm is run by brothers David, Albert, and Benny Taban and is working on three other developments in Downtown Los Angeles dubbed the Emerald, Onyx and Topaz developments. It’s also working on the Sapphire development in Westlake. [Urbanize] — Dennis Lynch
Source: The Real Deal Los Angeles