Back in October 2014, Vancouver-based Holland Partner Group purchased a 39,000 square foot parking lot for $12.5 million on the northwest corner of 8th and Spring located on the cusp of the Historic Core and Fashion District. Less than a year later, we’re now getting some exciting details being revealed about a new ground-up tower that will rise here within this burgeoning urban neighborhood.
According to Holland’s COO of Development for Southern California, Tom Warren, the still unnamed 8th and Spring tower is currently in plan check with the city and is slated to break ground this fall. When completed, the new residential mixed-use tower will rise 24 stories and have approximately 300 units for rent.
Sizes of units, although far from being completely finalized, will range from 450 to 1,650 square feet with different layouts including studios, one and two bedrooms all the way up to 3 bedroom penthouse units. There will also be townhomes and corner units reserved for the largest 2 and 3 bedroom floor plans.
“We wanted to get going as fast as we could as quickly as possible,” explained Warren. “As a result, we are meeting the downtown design guidelines and we’re following all the rules to expedite it through the site plan review process.”
Apparently, it’s a tricky code to meet as the city’s planning department (specifically the Urban Design Studio) is finally adding stricter design guidelines to Downtown LA’s new developments that are intended to help shape the city’s urban fabric. Every district of downtown now has distinct guidelines.
Here in the Historic Core where Holland’s tower will be constructed, they are required to hide their parking structure away from the street that will include 650 parking spaces (enough for residents living in the adjacent 168-unit Chapman Flats). They also have to create a 150-foot “building wall” (basically meaning no set backs from the sidewalk) along Spring Street that would match the historic height cap. Along 8th Street, the building wall has to rise up to 75 feet.
This special massing requirement has greatly influenced the tower’s design by architect firm MVE, which also designed Rick Caruso’s ultra-luxury 8500 Burton Way apartments near Beverly Hills. The downtown tower will be a blend of old and new design, drawing from the historic context of the area as well as incorporating new modern elements like the glass facade on the top upper floors. In addition, stucco haters will be very happy to know that the rest of the tower will be clad in fiber reinforced concrete.
When completed, the rental property will have a rooftop amenity deck with amazing views of the downtown skyline. In fact, Holland flew a camera drone up to the future height of the rooftop at 240 feet to give us an idea what the stunning views will be like from up there.
Holland’s first downtown high-rise will also have 9,000 square feet of retail space to help activate this corner. The project is fully funded and is looking to start construction this fall with a completion slated for 2018.
Across the street at 732 S Spring Street, another parking lot that Holland has acquired is in the very early conceptual stage. Holland has not yet determined what they will do as they are still evaluating their plans.