Entity tied to Jamison Services plans 41-story resi tower at World Trade Center

The developer wants to build the 570-residential-unit complex in an area long dominated by office buildings

Los Angeles /
May.May 10, 2018 09:00 AM
Jaime Lee and The World Trade Center parking lot at 350 S. Figueroa Street

Jamison Services has become one of the biggest multifamily developers in Koreatown, but it has also been branching out to other parts of Los Angeles. Now an entity tied Jamison is looking to build a major new residential tower for Downtown, which could replace part of the Los Angeles World Trade Center in Bunker Hill.

The 41-story building would have 570 residential units, to rise at 350 S. Figueroa Street, Urbanize reported, according to a filing this week. The project calls for the partial demolition of a parking garage and retail concourse at that location. The site is directly across 4th Street from the Westin Bonaventure Hotel and connected to it via a pedestrian bridge.

The entity filing the plans, 350 South Figueroa LLC, is tied to Jamison’s Wilshire Boulevard office, according to property records. Jamison could not immediately be reached for comment.

Jamison has owned the existing 373,000-square-foot World Trade Center property since 2004. That’s when it paid Tokyo-based Haseko Corporation $51.7 million for the property.

It was one of a handful of acquisitions Jamison made around that time in the neighborhood. The latest filing doesn’t indicate what portion of the existing 10-story office building will be affected.

The project would bring rare residential units to a neighborhood long dominated by office towers and that was largely deserted by its 9-to-5 crowd at the end of the workday.

The City Council recently gave a joint venture of the Peebles Corporation, Claridge Partners and MacFarlane Partners the green light to start the ambitious Angels Landing project at the Pershing Square park site, a few blocks away from the World Trade Center site. Angels Landing would bring 250 condos, 425 rental units, and an abundance of hotel, retail and public space to the area.

Angels Landing partner Ricardo Pagan said last month that the city asked the team to reduce parking at the massive development, signaling that it could do the same for other projects in the area as part of an effort to make Downtown a more pedestrian and transit-dependent part of the city.  [Urbanize] — Dennis Lynch 


Related Articles

arrow_forward_ios
LA city council to mull requiring vaccine proof at indoor venues
LA city council to consider vaccine mandate for indoor spaces
LA city council to consider vaccine mandate for indoor spaces
Hudson Pacific plans to grow studio portfolio, but isn’t giving up on offices
Hudson Pacific plans to grow studio portfolio, but isn’t giving up on offices
Hudson Pacific plans to grow studio portfolio, but isn’t giving up on offices
Hotel sales in California “completely rebound” from 2020 levels
Hotel sales in California “completely rebound” from 2020 levels
Hotel sales in California “completely rebound” from 2020 levels
City Tower at 333 City Boulevard West (KBS Capital Markets Group)
Opal Holdings pays $150M for Orange County office tower
Opal Holdings pays $150M for Orange County office tower
Redcar Properties CEO Jim Jacobsen with Dynasty Center (Google Maps, Industry Partners)
Redcar buys Dynasty shopping center in Chinatown
Redcar buys Dynasty shopping center in Chinatown
Sandstone Properties CEO Eri Kroh with a rendering of the project (Sandstone, The Jeff Hotel)
Culver City approves `The Jeff,’ Sandstone Properties’ 175-unit hotel
Culver City approves `The Jeff,’ Sandstone Properties’ 175-unit hotel
Apple delays return to office by a month
Apple delays return to office by a month
Apple delays return to office by a month
Stos Partners Principal CJ Stos and 159 N San Antonio Avenue 
Stos Partners pays $22M for Pomona warehouse
Stos Partners pays $22M for Pomona warehouse
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...