Downtown Los Angeles’ skyscraper boom continues – this time straying south to the intersection of South Olive and 11th Street, where developer Crescent Heights has submitted plans for a new 70-story residential tower housing 794 apartment units. Designed by ODA, 1045 Olive is planned to top out at a height of 770 feet, which would make it Los Angeles’ tallest residential building and 4th tallest overall.
Unique to the structure (and fitting for Los Angeles) would be the massive amount of space dedicated to parking: 13.5 total floors would be dedicated to parking spots, including an above ground 8-story core that would be wrapped in apartments to visually conceal the cars within.
This approach will also allow units to receive a maximum amount of light and air for their square footage. A cutout on the upper levels would provide communal gathering space and a swimming pool, while full wraparound balconies will add additional outdoor space to each floor.
According to Architect’s Newspaper, the project is being expedited through California’s ELDP initiative, which offers fast-tracked approval for projects investing more than $100 million in the state economy.
A timeline for construction has not yet been revealed.
News via Curbed, Architect’s Newspaper.