The mixed-use development will be located at the intersection of 11th Street and Olive Street; it aims to bring 794 apartments and 12,504 square feet of ground floor commercial space to downtown’s South Park district. The midcentury modern–inspired tower has been dubbed 1045 Olive and is being shepherded by the city through an expedited permitting process thanks to California’s ELDP program, a measure that guarantees sped-up approval for projects that invest over $100 million in the state’s economy.
Renderings for the building depict a rectangular, flat-topped tower resting on a parking podium. The tower’s midsection is interrupted by a multistory amenity complex that features large corner openings several stories in height. One of the large cutouts along this area contains an outdoor pool and deck overlooked by glass-clad amenity spaces that include an indoor gym. The building’s conventional floors are wrapped in protruding wood-clad balconies in an effort to bring the outside indoors and challenge the standard thinking on residential tower designs in the downtown area, Curbed reports. The architects took an unusual approach with regard to the design of the parking podium, which is wrapped in apartment units that overlook the street.
The tower, if completed to a height of 810 feet as currently designed, would become one of the tallest residential structures in the region, though it would fall roughly 165 feet below the recently proposed 925 S. Figueroa tower designed by CallisonRTKL. Developer Crescent heights is also working on a pair of other high-rise developments in the area, including the controversial Palladium Residences designed by Natoma Architects in Hollywood and the Handel Architects–designed Ten Thousand tower in Beverly Hills.
An official timeline for 1045 Olive has not been released; see the project website for more information.