Realm Group buys Fashion District site; 33-story residential tower planned

Firm paid $24M for empty parcel, where it plans project with Urban Offerings

Los Angeles /
Jul.July 24, 2018 09:00 AM
A rendering of the 7th and Maple project

Realm Group and Urban Offerings are moving forward with a high-rise residential project in the Fashion District.

Newport Beach-based Realm Group closed on a 1.7-acre parcel for the project at 222 E. 7th Street, paying $24.3 million, according to the Los Angeles Business Journal. Realm and Urban Offerings have plans to build a 33-story, 452-unit apartment tower they are calling “7th and Maple.”

The firms secured approval for the project in the fall from the Los Angeles Planning Commission, but not everyone agrees with the development. Critics protested near the site about a week after the planning commission approved the plan, upset that a tower with mostly market-rate units will go up near Skid Row, the largest homeless community in the city. The tower will include 50 units for “very low income” residents, but critics said that many homeless individuals wouldn’t qualify for the units.

The site is currently a parking lot. The developers plan to include 13,600 square feet of ground-floor commercial space in the tower. There are also plans for a pool terrace on the sixth story and a dog park.

It’s one of the first high-rise projects being proposed in the Fashion District, but not the only one. Lena Group is one step ahead with its 948-unit mixed-use City Market project, which includes a 38-story tower. The City Council gave the project the green light last month.  [LABJ] – Dennis Lynch 


Related Articles

arrow_forward_ios
Hudson Pacific Properties CEO Victor Coleman with 3400 Hillview and 3176 Porter (Getty, HPP)
Hudson Pacific posts profit after 2 straight quarters of losses
Hudson Pacific posts profit after 2 straight quarters of losses
Mariposa on 3rd
CGI Strategies secures $41.5M loan on Koreatown apartment complex
CGI Strategies secures $41.5M loan on Koreatown apartment complex
Continuum Partners CEO Mark Falcone and the development site (Continuum, iStock, Google Maps)
Continuum Partners plans $2B megaproject to transform Arts District
Continuum Partners plans $2B megaproject to transform Arts District
Gov. Gavin Newsom with Doug Ose and John Cox (Getty, Twitter)
Real estate execs among challengers in Newsom recall
Real estate execs among challengers in Newsom recall
2575 E El Presidio Street and Thor Equities Chairman Joe Sitt
Thor Equities pushes into LA industrial market
Thor Equities pushes into LA industrial market
Rendering of the new Pasadena office and existing building inset. (JLL, 101 South Marengo)
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
Rendering of Figueroa Centre (right) with an aerial view of the vacant site at 911-927 South Figueroa Street (Google Maps, CallisonRTKL/Illustration by Kevin Rebong for The Real Deal)
A Genting scion’s plans for a DTLA supertall were quietly shelved. What happened?
A Genting scion’s plans for a DTLA supertall were quietly shelved. What happened?
PPIH President & CEO Naoki Yoshida and TPG Capital Partner Paul Hackwell (Linkedin, Getty)
TPG Capital selling SoCal-based Gelson’s Markets
TPG Capital selling SoCal-based Gelson’s Markets
arrow_forward_ios

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

Loading...