Wednesday, August 14, 2013

7 Story Mixed-Use Development Coming to Olympic and Grand



Back in May, rumors pointed to the development of a high rise hotel on the surface parking lot at the southeastern corner of Olympic Blvd and Grand Avenue.  Unfortunately for tall building enthusiasts and Downtown LA boosters, a new Hilton will not be coming to the intersection.  Instead, this is what we have in the works:

8/9/2013
1000 S GRAND AVE 90015
PROPOSED CONSTRUCTION OF A 7-STORY MIXED-USE PROJECT CONSISTING OF APPROXIMATELY 274 DWELLING UNITS AND 12,000 SQ. FT. OF RETAIL SPACE

As noted by Brigham Yen, this lot is entitled for a building as tall as 33 stories.  Thus, I wonder if this project meets the standards of "highest and best use," for the property.  The proposal at Olympic/Grand comes amidst the recent (and well documented) trend of low rise developments taking up parcels of land with much more significant entitlements .

Then again, a low rise apartment building is still preferable to this erstwhile proposal for the Olympic/Grand corner lot.  Ladies and gentlemen, I give you the City House and the Olympic:

What century are these two pieces of fugly supposed to be from?  Images from Robertson Partners.

I owe the real estate bust a measure of gratitude for stomping that project out.  Not that it really had legs to begin with.



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