Trammell Crow Residential is one step closer to completing a planned residential development in downtown Los Angeles following the recent acquisition of the project site. According to public records, an entity affiliated with Trammell Crow acquired the site for $26.1 million from an entity linked to Sherman Oaks-based Coast Prime Investments LLC.
The 0.7-acre site is located at 850 S Hill Street and would include the construction of a 27-story tower with 305 residential units and 6,200 square feet of ground floor retail space. Designs for the project come from architecture firm RTKL.
The Alexan-branded tower received approval from the City’s Planning Commission back in 2016 but has since faced controversy due to its proximity to the historic Eastern Columbia Building, according to industry reports.
The site is located along 9th and Hill Streets in downtown Los Angeles’ South Park. Nearby are a number of retail and dining amenities as well as attractions like LA Live and the Los Angeles Convention Center. Interstates 10 and 110 are also within close proximity.
Founded more than 45 years ago, Trammell Crow Residential has had a long history in the Greater Los Angeles area. Overall, the multifamily development arm of Crow Holdings is located in 16 U.S. markets and has built more than 283,000 multifamily residences.
In September of last year, the firm acquired another development site for a project in Long Beach. According to The Registry’s previous reporting, the development site, which is located at 600 W. Broadway Ave., was acquired from the City of Long Beach for $29.5 million. The six-acre site would bring a 756-unit residential project to the site near the corner of Golden Avenue and West Broadway near the World Trade Center office complex.
