Mitsui Fudosan Co., Ltd., a global real estate company headquartered in Tokyo, has started site prep, at 733 S. Figueroa St., for its planned 8th & Figueroa (tentative name) residential tower. A permit for shoring at the site was issued by the City of Los Angeles at the end of June detailing nearly $4,000,000 in site work.
The 42-story building will boast 438 residential units (available in a mix that includes 80 studios, 264 one-bedroom units, and 94 two-bedroom units), nearly 7,500 square feet of ground-floor commercial space, and parking for 517 vehicles within four subterranean levels and three above-grade levels.
“The most notable feature of the property is its superior amenity space,” Mitsui said in a press release earlier this year. “Existing sidewalks will be extended and upgraded, creating an outdoor terrace space on the ground floor. This will help attract retail tenants and activate the sidewalk. The south-facing 5th-floor amenity deck will include an expansive outdoor space, with a huge pool deck at the center, and a variety of other features including a clubhouse, barbecue lounge, and dog-run. Plans for the interior include a large co-working space and fitness room, as well as a private dining area. On the top floor, a lounge with an adjacent outdoor space and an outdoor spa will offer views of the downtown skyline.”
Completion is scheduled for the DTLA Financial District highrise in 2022 but could be delayed. Construction was supposed to begin in 2019.
8th and Figueroa is one of at least two planned residential towers in the area to begin site prep in recent weeks. Brookfield Properties this week was given the green light to go vertical on its 64-story, 960 W 7th Street tower nearby.
