547 housing units, restaurants space, and possibly a charter school
A new environmental assessment of the project planned for a parking lot and garage on Eighth Street between Hope and Grand in Downtown LA reveals a new look and an updated timeline for the project from Japanese developer Mitsui Fudosan America, Inc.
Older renderings of the Financial District project show it as a single rectangular block of units. New renderings, also by Gensler, show the design has been updated to include stepped-back levels that will allow “landscaped terraces” atop each new “tier” of the building.
Once proposed as 409 residential units and 7,300 square feet of ground-floor retail space, the project is now planned to hold 547 housing units, 7,500 square feet of restaurant space, and possibly a 37,000-square-foot charter school for kindergarten and grades first through fifth. The developer also has an option to add 33 housing units in lieu of the school.
The tower will be served by three floors of underground parking.
Project construction is now anticipated to occur over a 36-month period and wrap up in 2024.