Six months after breaking ground in South Park, construction has gone vertical at Olive & Pico, a new residential-retail complex from the Wolff Company. The seven-story edifice, designed by Downtown-based TCA Architects, will consist of 293 studio, one-, and two-bedroom apartments above 20,000 square feet of ground-floor retail and restaurant space. The low-rise building will sit atop a three-level underground garage, which will accommodate up to 75 vehicles and 342 bicycles.
Plans filed with the city indicate that Olive & Pico will offer a diverse assortment of residential amenities, including a fitness center and multiple outdoor decks. Additionally, the project will feature 24-hour on-site concierge and valet service, providing a hotel-like experience for residents and guests.
Completion of the $54 million development is scheduled for mid-2016.
|Olive & Pico (Image: The Wolff Company)|
Excavation is also underway on an adjacent property at 1200 S. Grand Avenue, future site of G12, a second low-rise development from the Wolff Company. The seven-story building, as designed by TCA Architects, will consist of 347 studio, one-, and two-bedroom apartments above 20,000 square feet of street-level commercial space.
G12 would feature a similar blend of residential amenities to its next-door neighbor, with outdoor decks, a fitness center, and 24-hour concierge and valet service. Those similarities also permeate underground to the building's three-level garage, which will provide parking for as many as 320 vehicles and 402 bicycles.
|G12 (Image: The Wolff Company)|
As can be said for nearly any address in South Park, the Wolff Company projects are surrounded by a profusion of ongoing and future developments.
Last year, a joint venture between AECOM and Mack Urban announced bold plans for a cluster of nearby parking lots. Their project, valued at $750 million dollars, could accommodate up to 1,900 residential units in a series of high-rise and low-rise structures. The first phase of the development - a pair of seven-story condominium buildings - is scheduled to break ground sometime before the end of 2014.
One block west on Pico Boulevard, local landlord Jade Enterprises is planning another mixed-use development. Their project, known as Onyx, would create 410 apartments on two parking lots adjacent to Pico Station.
|G12 and Olive & Pico sites|
- Another Big Housing and Retail... (Los Angeles Times)
- Phase II of South Park's Massive G12 Development Revealed... (Building Los Angeles)
- 12 & Grand (The Wolff Company)