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The Los Angeles City Council last week voted to give approvals to plans by Neman Real Estate Investments for a 57-story mixed-use skyscraper at the northwestern corner of the intersection of West Olympic Boulevard and Figueroa Street.
Planned since 2014, the development will replace the Downtown Car Wash property at 811 W. Olympic Blvd. in Downtown Los Angeles‘ South Park neighborhood with a new high-rise building holding 374 condominium units and 373 hotel rooms, among other features.
Approvals given unanimously by city council members earlier this month include a vote to sustain a determination by the Los Angeles City Planning Commission to certify an environmental impact report for the project, as well as a vote to approve a transfer of floor area rights from the Los Angeles Convention Center. The decisions follow the withdrawal of an appeal filed against the proposed project by UNITE HERE Local 11.
Along with hundreds of residential units and hotel rooms, plans call for up to about 65,000 square feet of retail and other commercial space. The project will include about 33,500 square feet of office space and 10,800 square feet of hotel conference center and ballroom space.
Within the residential component, the building will hold 24 studio units, 200 one-bedrooms, 64 two-bedrooms, 56 two-bedroom penthouse units, and 30 three-bedroom two-story penthouse units. The DTLA skyscraper will also contain about 8,500 square feet of condo amenities and nearly 10,000 square feet of penthouse amenity spaces.
The project will include 883 parking spaces between a subterranean parking garage directly beneath the building and eight levels of above-ground parking within the podium level of the building.
Designs for the Olympic Tower project are being led by project architect Nardi Associates and landscape architect AHBE Landscape Architects, plans show.