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.

More Pictures of Wood Blocks: The New Grand Avenue Project

As reported yesterday by the Daily News, the LA County Board of Supervisors is scheduled to take a look at Frank Gehry's latest designs for the long awaited Grand Avenue Project.  Related California's $750 million mixed-use development would create two high-rise buildings containing residential, hotel, office and retail space across from the iconic Walt Disney Concert Hall.  A 37-story residential tower would rise from the corner of 2nd and Olive Streets, consisting of 450-apartments above a podium of retail and restaurant space.  The 490-foot tall structure would feature a skydeck on its 28th floor, offering an outdoor pool with panoramic views of the city.  The second tower, which abuts the 1st Street side of the property, would contain a 300-room SLS Hotel and just under 50,000 square feet of office space.  The hotel/office building would rise 25 stories, with an architectural apex 345 feet above street level.  The entire "Phase 1," would create just over 100,000 square feet of retail/restaurant space.  Although the Grand Avenue Project is marketed as a transit oriented development, the towers would share a massive underground parking garage with room for 1,350 vehicles.  Of course, if you want to leave your car behind, Parcel Q will eventually sit within easy walking distance of two subway stations serving Metro's Red, Purple, Blue and Gold Lines.  Either way, it looks like we can expect a project that is both pleasing to the eye and inviting at ground level.  Now how about we get some action on Parcel W?

• Frank Gehry-Designed Complex for Downtown LA to be Unveiled (Los Angeles Daily News)
• Grand Avenue Project - Phase I (LA County Board of Supervisors)