The Real Deal Los Angeles

Barry Shy’s plan for DTLA residential towers is back on track

The 2 projects, which courted controversy, will have a combined 691 units
February 23, 2018 12:30PM

Rendering of the tower at 601 S. Main Street and Barry Shy (Credit: Loopnet, Getty)

The City Planning Commission has approved two residential towers that Barry Shy wants to build in Downtown Los Angeles, marking a major step forward for the four-year-old project that has stirred controversy. Both projects still require approval from City Council.

Commissioners voted unanimously in favor of SB Omega, a 38-story, 452-unit mixed-use residential project planned for 601 S. Main Street. The project includes roughly 21,500 square feet of retail space.

The panel also greenlit Shy’s 32-story, 239-unit development at 920 South Hill. That’s slated to include roughly 5,700 square feet of retail with 295 parking spaces. CoStar first reported on the approvals.

Both plans were proposed in 2014.

Shy was forced to return to the drawing board in December, after residents and the city expressed concerns about the project’s limited parking and overall design. Architect David Takacs is designing both projects. As part of an agreement that was forged, 20 percent of parking spaces will now have electric vehicle chargers.

The approval came just eight months after Shy listed the 1-acre property on Main Street for sale for a cool $100 million.

Just last year, the Planning Commission approved another one of Shy’s projects, dubbed Broadway Lofts. The 15-story building would include 163 condominiums, retail shops and parking for 202 vehicles. [CoStar] — Natalie Hoberman