Last May, rumors were circulating that Hilton was in escrow to purchase a surface parking lot at Olympic and Grand adjacent to the former Crash Mansion nightclub (which is getting torn down). Several new sources have stepped up since then confirming once again that Hilton is, indeed, still interested in the site. However, the urban-infill fun doesn’t stop there. Now, a new mixed-use project adjacent to the potential future Hilton tower, called “Urban Village | South Park,” is slated for a Sep/Oct 2013 groundbreaking near Olympic and Olive according to Brett Shaves and Joshua Host, the founders of Urban Village who will be developing the ground-up project. Entitlements for the project were secured on May 20, 2013.
Urban Village South Park will be designed by Don Getman of LA-based GMP Architects (who also designed Avant currently under construction by the LA Convention Center). Located at 1027 S Olive St in South Park, on just over 1/3 of an acre of land, a 7-story mixed-use project will rise with 100 units for rent. Out of those, 96 apartment units will include 84 studios/one-bedrooms averaging 576 SF and 12 two-bedroom units averaging 998 SF along with 4 ground level live-work units at 801 SF for potential use as retail or office. In addition, the building will have amenities catering to residents including private roof decks, dog park, and fitness center.
“We really wanted to create a higher level of affordability where our average unit size will be about 636 square feet,” said Brett Shaves. “Our project is still market rate, but we believe there is a huge market that needs to be addressed right now for more affordable units, allowing for a broader base of people to have access to rent in Downtown LA.”
Urban Village South Park will contribute to an area of South Park that has been steadily transforming with new infill projects and retail including the Hanover project at Olympic and Hill, the YWCA, and The Well flagship retail boutique located directly across the street from the future project.