Mitsui Fudosan America, a leading developer, has taken a significant step forward in its endeavor to redevelop a parking garage near Whole Foods in Downtown Los Angeles. The company has received approval from the Los Angeles City Planning Commission for its Park Terrace at 8th, Grand & Hope project. This ambitious undertaking, situated along the north side of 8th Street between Grand Avenue and Hope Street, aims to construct a 50-story apartment tower that will add to the city’s evolving skyline.
The plans for the tower, which would be located at 754 S Hope St., include a range of 580 studio, one-, two- and three-bedroom residences. Alongside the living spaces, the tower will feature 7,499 square feet of ground-floor commercial space and accommodate parking for 640 vehicles.
Designed by renowned architecture firm Gensler, the 8th, Grand & Hope tower draws inspiration from the iconic Mid-Century modern homes that have come to symbolize Los Angeles. The building’s facade, a blend of glass, concrete, aluminum and stone, will offer a contemporary design style.
A unique aspect of the tower’s design is its innovative massing technique. As the tower ascends, its architectural profile gradually shifts back from Hope Street, creating a series of amenity decks for the residents.
The project has faced opposition in the form of three appeals, which the Planning Commission has ultimately rejected. SAFER, an affiliate of Laborers International Union of North America Local 270, and Creed LA, an alliance of construction trade unions, have frequently appealed large projects seeking discretionary entitlements from the City of Los Angeles. Digital Realty, the owner of an adjacent parking garage and the proponent of its own 13-story data center project along Grand Avenue, also joined the appellants. Their claims challenging the project’s environmental impact report, including concerns about construction noise and impacts on surrounding historic properties, were dismissed in a staff response submitted to the Commission.
When the project was presented to the Neighborhood Council for an update, Mitsui Fudosan anticipated that the Planning Commission and the Los Angeles City Council would review the proposal in early 2023. This timeline would have set the stage for groundbreaking in 2024 and completion by 2027.
However, before proceeding, the 8th, Grand & Hope tower still requires Council approval for the transfer of development rights necessary to accommodate the additional floor area needed for the building. Mitsui Fudosan’s public benefit payment for the project amounts to just over $9.8 million, with half of the funds earmarked for the Council District 14 affordable housing trust fund.
Mitsui Fudosan America, a subsidiary of the esteemed Japanese conglomerate Mitsui Fudosan, has long owned property in Downtown Los Angeles. However, the company has recently embraced ground-up development. The 8th, Grand & Hope tower will mark their second project in the neighborhood, following the near-completion of the 8th & Figueroa tower located just two blocks to the west.
The project has been in the books since 2017, according to previous reporting from The Registry. At that time, plans for the project called for a 40-story building with 540 residential units and 7,499 square feet of retail prior to the 40 units being added to the plans in 2021.
