Parking operator L&R plans 52-story DTLA tower

1600 S. Figueroa St. rendering, Nathan Cohen (Gensler/L&R Group of Companies)
1600 S. Figueroa St. rendering, Nathan Cohen (Gensler/L&R Group of Companies)

L&R Group of Companies, a Downtown Los Angeles operator of parking facilities led by Nathan Cohen, filed plans with the city Wednesday to build a 52-story tower near the Los Angeles Convention Center.

The proposed project would replace a parking lot at 1600 South Figueroa Street in South Park, the L.A. Downtown News reported. It would feature 202 condominiums and 134 rental units, as well as a 250-room hotel with a 3,000-square-foot restaurant. There would 23 condos and nine apartments set aside for low-income individuals.

The towering structure would include 6,500 square feet of office space, 9,000 square feet of retail and 499 parking stalls.

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Dealership and repair shop Toyota of Downtown L.A. currently sits on the 1.14-acre site but would be demolished ahead of construction. It will be relocating a few blocks away to Figueroa Street and Washington Boulevard.

L&R purchased the 60,000-square-foot property for $30 million in April 2016. At the time, TRD was told it would likely be redeveloped into a larger multi-level parking lot with ground-floor commercial space. [LADTN]Subrina Hudson