Los Angeles officials approved Lena Group’s sprawling project in the Fashion District, a key step forward for the multi-use complex, which has been in the pipeline for over six years.
Dubbed City Market, the project would cover some three city blocks, include up to 948 residential units, a hotel with 210 rooms, a 300,000-square-foot school and 225,000 square feet of commercial space. A 744-seat movie theater, as well as restaurants, will also be found onsite, Urbanize reported.
The Los Angeles City Council approved the plans Wednesday. It passed the Planning Commission in November.
Renderings from architecture firm HansonLA portray a series of low- and high-rise buildings connected through internal walkways.
The tallest building would rise 38 stories, which is higher than what the city code generally allows. As part of its negotiations, the Downtown Los Angeles-based developers offered the city a $10 million-plus package for homeless services, public transit and affordable housing units elsewhere in L.A.
Construction of the project could take more than two decades to complete, and cost anywhere between $500 million to $1 billion.
The project, which would spread across Ninth, San Pedro, 12th and San Julian streets, is set to rise near Realm and Urban Offering’s controversial residential project dubbed 7th & Maple. Urban Offerings is also seeking approval to build a food hall atop its redeveloped Norton Building, right around the corner at 755 S. Los Angeles Street. [Urbanize] — Natalie Hoberman