UPDATED, May 23, 2:58 p.m.: Developer City Century LLC has dramatically altered its plans for a South Park residential development, adding more units while significantly reducing the building’s height.
The Downtown-based subsidiary of China’s Shenglong Group scrapped its proposal for a 37-story luxury tower with 126 units in favor of a 10-story building with 312 units and 7,100 square feet of retail space. The proposed building will rise at 1201 S. Grand Avenue, according to city documents first reported by Urbanize.
It’s the latest project involving the Los Angeles Convention Center to request a transfer of floor-area rights. Convention center operator Anschutz Entertainment Group proposed a $1.2 billion renovation and expansion plan for the convention center early this month.
An Alhambra developer requested a transfer of nearly 400,000 square feet of floor area from the convention center for a 52-story condo tower planned a few blocks away from City Century’s project at 11th and Hill streets.
The smaller Grand Avenue tower doesn’t mean City Century is slowing down in South Park. It appears to be going ahead with an ambitious three-tower project called Olympia near L.A. Live. The project included 1,367 market-rate apartments, and 40,000 square feet of retail space.
City Century hasn’t yet changed 2016 plans for the neighboring 24-story residential tower at 1229 S. Grand Avenue though. That tower will have 161 condominium units and 2,000 square feet of commercial space. At the time of filing, managing partner Joseph Lin said the firm’s goal was the build 1,500 units. [Urbanize] — Dennis Lynch
Correction: An earlier version of this article misstated the name of the developer, City Century.