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Crescent Heights plans 800-unit megatower in Downtown LA
From the Los Angeles website: Undeterred by the dramas surrounding its Palladium Residences project in Hollywood, Crescent Heights is reaching for new heights once more.
The Miami-based developer filed plans Monday to build a 714-foot, 800-unit condo structure at 1045 South Olive Street in Downtown L.A., according to Urbanize. It acquired the site for $11.5 million last year.
In addition to condos, the new project would include ground-floor retail space, though no specifics on square footage or number of units were available.
Crescent Heights is no stranger to the challenges surrounding high-rise development in L.A. The firm is behind the 40-story Ten Thousand apartments in Santa Monica and the Palladium project, which indirectly inspired the development of the controversial Neighborhood Integrity Initiative. [Urbanize] — Cathaleen Chen