New Construction - High-Rise Mixed-Use: 1230 S Olive St, Los Angeles, CA 90015

Brookfield Properties, one of Downtown LA's most prolific developers, has officially filed permits for their ambitious new project at 1230 S Olive Street. The proposed 58-story mixed-use tower, designed by Gensler Architects, promises to be a significant addition to the South Park skyline, further densifying the burgeoning residential and commercial hub.

The development plan outlines 450 luxury residential units, a substantial contribution to the city's housing stock, alongside 150,000 square feet of modern office space. The ground floor will feature 25,000 square feet of retail, aimed at activating the streetscape and providing amenities for residents and the surrounding community. This filing marks a pivotal step for a project that has been in preliminary discussions for over a year, signaling Brookfield's continued confidence in Downtown LA's long-term growth trajectory.

Sources close to the project indicate a strong emphasis on sustainable design and smart building technologies, aligning with current urban development trends. The estimated value of the project, a staggering $385 million, underscores its scale and potential impact on the local economy through job creation and increased tax revenues. The filing will now enter the city's review process, a crucial phase for public input and regulatory compliance.