Onni Group, the Canadian real estate development firm which has emerged as one of the most prolific builders in Downtown Los Angeles, has broken ground on the neighborhood's first high-rise building since the onset of the global pandemic. — Urbanize Los Angeles
As reported by Urbanize Los Angeles, the Vancouver-based developer recently closed off and razed a parking lot at the southeast corner of Olympic Boulevard and Hill Street. Here, the City of Los Angeles has approved the construction of a new 60-story tower that will include 700 apartments. The building would rise from a podium structure containing parking for more than 1,000 vehicles and 15,000 square feet of ground-floor retail space. Designed by IBI Group, the high-rise will stand at 760 feet making it the city’s 4th tallest building if completed today and its tallest residential tower.
An environmental study estimates that construction of the tower would be completed over a period of approximately 30 months.
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