Landmark Apartments, the massive apartment tower proposed by developer Douglas Emmett, just got the green light from city officials.
The Los Angeles City Council’s Planning and Land Use Committee approved the 34-story project on Tuesday under the agreement that Douglas Emmett would contribute $625,000 to an affordable housing trust fund over four years.
The project at 11770 Wilshire Boulevard in Brentwood will take about 30 months to complete with the apartments opening as soon as 2020, Curbed reported.
A long-vacant Pavilions supermarket and a 17-story office building currently sit on the 2.8-acre site. The Landmark would replace the former supermarket and the 17-story tower at Wilshire and Granville Avenue will remain, according to Urbanize.
Amenities at Landmark will include a swimming pool and deck, fitness center, lounge, recreation room and bicycle storage area. An underground parking garage will feature 1,122 spaces.
The site will also have a 1-acre public park — more than double the size of the park that was first proposed for the project — at the intersection of Wilshire and Stoner Avenue, according to Curbed.
Douglas Emmett, known in L.A. as an office landlord, first proposed the residential project in 2014, but after community feedback the project underwent a redesign last year.
The company has been on an office acquisition spree to nab L.A.’s trophies with partner Qatar Investment Authority. Last month, the firms purchased the 10-story office building at 9665 Wilshire Boulevard from Blackstone Group for about $188 million, or $1,100 per square foot.
Douglas Emmett Chief Executive Jordan Kaplan said the firm now controls more than 70 percent of Santa Monica’s office supply.
[Curbed] — Subrina Hudson