City Century moves ahead on $1B South Park development

The Shenglong Group affiliate is planning on 3 towers for the mixed-use project

Los Angeles /
Nov.November 28, 2018 02:00 PM
Olympia renderings (Credit: SOM)

After nearly two years in the pipeline, City Century has taken another step toward its plan for a three-tower South Park mixed-use project.

The developer, an affiliate of China’s Shenglong Group, filed its final environmental impact report for the $1 billion Olympia project, according to city records. The city will follow that up with public hearings on the massive planned complex.

The firm is considering two options for the site, both of which would include a large amount of residential units and commercial space. One of the plans would include a hotel component.

The original plan would see the construction of 1,367 residential units and 40,000 square feet of retail space. It would include a 65-story tower with 488 apartments, and nearly 20,000 square feet of restaurant and retail space.

The second option was proposed in October 2017, when City Century filed its draft environmental report. That would involve substituting apartments for hotel rooms. It would include 1,000 hotel rooms and 879 apartments. The 65-story tower would remain, housing the hotel rooms and the 20,000 square feet of retail.

City Century is also planning to build separate 53- and 43-story story towers. A four-story podium would connect the three high-rises.

In both options, the 53-story tower would include up to 516 units and about 8,200 square feet of retail space while the 43-story high-rise would include 363 residential units and up to 11,800 square feet of retail space.

There would also be about 163,000 square feet of open space and amenities.

In separate project entirely, City Century is planning a 10-story building with 312 units and 7,100 square feet of retail space at 1201 S. Grand Avenue. That project is different from its initial iteration as well. In May, the company scrapped its proposal for a 37-story luxury tower there, which would have had 126 units.


Related Articles

arrow_forward_ios
The Grand, Eighth & Figueroa, and 945 W. 8th (Related, Johnson Fain, L.A. Department of City Planning, Getty)
DTLA vacancy rates rose across all property types in 2020
DTLA vacancy rates rose across all property types in 2020
Brookfield Property Partners CEO Brian Kingston and the Gas Company Tower at 555 West 5th Street (Brookfield)
Brookfield lines up $465M refi for Gas Company Tower in DTLA
Brookfield lines up $465M refi for Gas Company Tower in DTLA
Experts warn that the pandemic will bring a surge in evictions and put more people at risk of becoming homeless. (LACC)
LA mulls using Convention Center as temporary homeless shelter
LA mulls using Convention Center as temporary homeless shelter
Left to right: Viceroy L’Ermitage Beverly Hills and THEA at Metropolis in Downtown (Google Maps, THEA)
Greenland lands $250M loan for THEA at Metropolis rental tower
Greenland lands $250M loan for THEA at Metropolis rental tower
Los Angeles City Council member Kevin de León
New LA Council member who won Huizar’s vacated seat vows affordable housing push
New LA Council member who won Huizar’s vacated seat vows affordable housing push
Brookfield CEO Brian Kingston and 725 South Figueroa Street
Here’s what tenants pay at Brookfield’s 950K sf Ernst & Young Plaza
Here’s what tenants pay at Brookfield’s 950K sf Ernst & Young Plaza
Colony’s Tom Barrack,, One California Plaza, and Rising CEO Christopher Rising (Credit: TM/Bauer-Griffin/GC Images via Getty Images, Tiffany Rose/Getty Images)
Here’s what tenants pay at Colony Capital & Rising Realty’s One California Plaza
Here’s what tenants pay at Colony Capital & Rising Realty’s One California Plaza
Korean Air chairman and CEO Walter Cho Won-tae and the Wilshire Grand Center at 900 Wilshire Boulevard (Credit: Jae Joon Lee via Wikipedia and Fredchang931124 via Wikipedia)
Korean Air eyes sale of Wilshire Grand
Korean Air eyes sale of Wilshire Grand
arrow_forward_ios

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

Loading...