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SOUTHERN CALIFORNIA NEWS
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$62 Mil Res Development Completed at Edge of Downtown L.A.’s South Park

1/09/17

OLiVE DTLA, a $62 mil, seven-story, residential mixed-use project in downtown Los Angeles, has been completed. The 384.5k sf project is a development of The Wolff Company and was built by Barnards.

OLiVE DTLA is located at the eastern perimeter of Downtown Los Angeles’ popular South park neighborhood, at 1243 S. Olive St, at Pico Blvd. It features 293 res units and 15k sf of ground-level retail amenity spaces, including a fitness facility, clubhouse, sun decks, courtyards, and a business center.

G12, a $63.8 mil sister project located on an adjacent site at 1200 S. Grand, at 12th St and Grand, also being developed by The Wolff Company, is scheduled for completion early next year. The 456k sf, seven-story project consists of 347 rental units and 19k sf of street-level retail and amenity spaces. These projects are a big part of the booming residential redevelopment underway in this section of South Park.

Designed by TCA Architects, both projects provide studio, one- and two-bedroom units. The buildings are Type I and Type III construction and feature high-end interior finishes. Residential components are built over two levels of podium-style, above-grade parking integrated with retail space, as well as two levels of subterranean parking.

South Park is a lively 24/7 neighborhood that includes Downtown LA’s Entertainment District. Located at South Park’s eastern gateway, residents will be just a short walk from Seventh Street’s restaurant row; L.A. Live, a 1 msf sports and entertainment complex that includes the Grammy Museum and a variety of restaurants and entertainment venues; Staples Center, home to the Los Angeles Lakers, Kings and Clippers; and the LA Convention Center.

Bernards specializes in residential mixed-use a construction and has built many prestigious projects in Downtown and throughout the Southern California region. The company is also currently under way on Park Fifth, a seven-story project by MacFarlane Partners, which includes 313 apartments and 7k sf of retail. This project is replacing a parking lot at Fifth, Olive and Hill streets in Downtown LA near Pershing Square.






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