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November 20, 2018
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Downtown Los Angeles High-Rise Residential Development is Finished

9/07/18

Construction has been completed on 888 at Grand Hope Park, a 34-story, 525-unit apartment tower located at 888 S. Hope St in downtown Los Angeles. The project, a development of CIM Group, also includes 6k sf of ground floor retail space and a public pocket park, elements that enhance the dynamic South Park community, a walkable downtown neighborhood that provides many shopping, dining and entertainment options.

The apartment tower, situated at the northeast corner of 9th and Hope Streets, offers contemporary residences in a variety of sizes and floor plans and features many amenities and large communal gathering spots. 888 at Grand Hope Park is adjacent to a seven-story, approximately 650-stall parking structure, with a 5k sf Petco store, CIM completed in 2016 that accommodates the parking for retailers, residents and their guests.

“Completing 888 at Grand Hope Park is a significant milestone for CIM Group as it is the final piece of a larger master plan for South Park that we envisioned when we acquired a portfolio of seven parcels in 2001,” said Shaul Kuba, Co-Founder and Principal of CIM Group. “Our program in South Park began with the redevelopment of the Gas Company office buildings into apartments and retail and continued with a mix of building renovations and ground up construction delivering new condominiums, apartments, street retail and office space to the community.”

An innovative feature of the development is the expansive 30k sf rooftop park atop the parking structure, accessed from the apartment building’s eighth floor. This distinctive space is designed with an outdoor pool, lounge and barbeque areas, garden and other green spaces featuring mature landscaping. In order to distinguish the rooftop as a true urban oasis, CIM invested in thousands of plants and more than 132 trees, many reaching 20 feet in height, and were hoisted by crane for planting on the amenity deck to create a lush environment for residents. In addition, the 34th floor of the building offers residents an intimate indoor lounge and a large outdoor terrace to enjoy the views, the sunset, and temperate Southern California climate.

CIM has an extensive history as an owner and operator in downtown Los Angeles. The company has renovated and repositioned office, retail and residential properties in the area for almost 20 years, including the Flower Street Lofts condominiums, which were the first condominiums developed in downtown Los Angeles under the city’s adaptive reuse ordinance, followed by the adaptive conversion of the former Gas Company office buildings into the Gas Company Lofts apartments, and Sky Lofts at 801 S. Grand, the conversion of office space into luxury condominiums. CIM also completed ground-up developments including the Market Lofts condominiums and Market Lofts Retail that includes the Ralphs supermarket directly across the street from 888 at Grand Hope Park.






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