Mack Urban and AECOM Capital are doubling down and building up in South Park.
The two firms are planning soaring mixed-use towers, one 51 stories and the other 60 stories, part of their billion-dollar “urban village’ development.
The complexes would rise on what are now two parking lots on the south side of 11th and Olive streets, according to Urbanize.
For the 50-story building, it would have 536 residential units and 6,150 square feet of ground floor commercial space. The larger tower would have 713 residential units and nearly 11,300 square feet of ground floor commercial space, according to filing with the Department of City Planning.
The project is planned with approximately 371,000 square feet of air rights transferred from the Los Angeles Convention Center. The developers are asking the city to reduce guest parking and the overall number of parking spaces, and reduce the number of required trees on-site.
The two towers join the partnership’s 37-story Aven Tower project around the corner on Grand Avenue, which is well under way. The three towers and the WREN apartment project on Pico Boulevard make up a $1.2 billion “urban village” Mack Urban and AECOM first announced in 2014.
In October, Mack Urban CEO Paul Keller indicated the project would be the last one constructed in the city from the Downtown-based firm in the near future.
“We are not going to build anywhere in L.A. for at least two years,” until land and labor prices drop, he said.
Despite their size, neither tower is the largest planned at that immediate area. Miami-based developer Crescent Heights wants to build a 70-story tower with nearly 800 units on the north side of the intersection. The developer started its environmental review project in December and plans to start construction sometime next year, according to Urbanize. [Urbanize] — Dennis Lynch