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

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

TRD 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
Equity Residential CEO Mark Parrell and a rendering of the 4th and Hill tower

Equity Residential’s long-stalled DTLA residential tower project is back

Terreno Realty Chairman & CEO W. Blake Baird

Terreno Realty makes another industrial play in LA

Los Angeles City Planning Commission President Samantha Millman and a rendering of the Flower Market project (credit: Brooks + Scarpa and Twitter)

Development bloom: SoCal Flower Market mixed-use project in DTLA clears hurdle

Grace on Spring, Griffin on Spring, and Holland Partner Group CEO Clyde Holland

Holland Partner Group sells pair of Fashion District towers for $403M

Downtown Los Angeles (credit: Jeff Cleary and Laurie Avocado)

Rezoning Downtown — Skid Row included — must include more affordable housing, advocates say

Lizard Capital CEO Bingyi Huang and a rendering of the Spring Street Hotel

Appeal settled, Lizard Capital’s jagged-look DTLA hotel project has start date

Rexford Industrial Realty co-CEOs Howard Schwimmer and Michael S. Frankel

Rexford signs film and TV props supplier to giant warehouse lease Downtown

The Skid Row City Limits mural

LA wants to rezone Skid Row to allow 100K units of new housing

arrow_forward_ios