The Real Deal Los Angeles

Crescent Heights plans 800-unit megatower in DTLA

Developer who inspired NII wants to build another high-rise tower
December 06, 2016 10:45AM

A rendering of Crescent Heights' Ten Thousand apartments at 10000 Santa Monica Boulevard

A rendering of Crescent Heights’ Ten Thousand apartments at 10000 Santa Monica Boulevard

Undeterred by the dramas surrounding its Palladium Residences project in Hollywood, Crescent Heights is reaching for new heights once more.

The Miami-based developer filed plans Monday to build a 714-foot, 800-unit condo structure at 1045 South Olive Street in Downtown L.A., according to Urbanize. It acquired the site for $11.5 million last year.

In addition to condos, the new project would include ground-floor retail space, though no specifics on square footage or number of units were available.

Crescent Heights is no stranger to the challenges surrounding high-rise development in L.A. The firm is behind the 40-story Ten Thousand apartments in Santa Monica and the Palladium project, which indirectly inspired the development of the controversial Neighborhood Integrity Initiative. [Urbanize]Cathaleen Chen