A 27-story mixed-use tower could be on its way to a lot next to Chinatown’s Central Plaza.
Vancouver-based developers Townline and Forme Development filed plans with the city for its Harmony project at 942 North Broadway, according to Urbanize.
The site is directly across Broadway from Chinatown’s central market, the Central Plaza, which could be a major selling point for residents. It’s also just around the corner from the Metro Gold Line’s Chinatown station.
Harmony would include 187 residential units and two floors of office and retail space. Ground-floor retail space would total about 30,000 square feet. Some of those residential units would be set aside as affordable, which provides the developers with a density bonus.
Chinatown has seen steady transaction activity in recent years, along with nearby neighborhoods like the Arts District, Boyle Heights, and other parts of Downtown. A 2.4-acre development property on Main Street sold for $14.6 million last month.
Townline and Forme are working with local developer Urban Offerings on the project, according to Urbanize. The team expects to break ground sometime next year. [Urbanize] – Dennis Lynch