The owner of two industrial warehouses in the South Park neighborhood of Downtown L.A. has filed plans to replace them with a mixed-use residential and office project.
The seven-story development, at 1344 South Flower Street, would comprise either 151 units, including five live-work lofts, and 1,162 square feet of commercial space or 146 units with 6,270 square feet of commercial space, according to planning documents.
The owner is multiple LLCs with links to Khosrow Pakravan, who ran the now shuttered Button Depot, a wholesale distribution business out of one of the warehouses at 1338 South Flower Street.
Pakravan could not be immediately available for comment.
Entities tied to Pakravan acquired the first warehouse for $860,000 in 2003 and the second for $1.5 million in 2012, according to CoStar.
The project is just the latest in a slew of new developments slated for South Park. Other plans include Carmel Partners 33-story, 363-unit Atelier at the corner of Eighth and Olive Street and Jade Enterprises’ Onyx development at at 1306 South Hope Street.