Construction has started at 744 South Figueroa Street in Downtown Los Angeles. The project is being developed by Mitsui Fudosan America. When completed, sky decks at the top of the building will offer views of the Financial District and vistas to the Hollywood Hills, Pacific Ocean, and beyond.
Plans call for a 41 story structure, on the one-acre site, at the corner of Eighth & Figueroa. It will be 500.92 feet tall, 290.1 feet long, 127.8 feet wide, featuring glass and steel construction. The floor area will be 424,489 square feet. Inside, 438 luxury residential units will rise above 7,500 square feet of ground-floor commercial spaces, and four levels of basement. There will be six levels of parking, three subterranean and three above-ground. 67 compact, 12 disabled, and 420 standard parking stalls will be available, as well as 204 long-term and 22 short-term bicycle parking spaces.
Inside will have a mix of studio, one and two-bedroom units. The roof of the parking podium will offer the residents amenities of a pool, fitness room, lounge, dining area, and meeting and game rooms. The roof of the highrise will feature a landscaped deck, with an indoor lounge. The site also has the advantage of being close to major transit systems.
When completed, the design, by Johnson Fain, will be highly visible on the western edge of Downtown Los Angeles. The permit valuation for the project is $235,025,836. Occupancy is expected to begin in 2023.