Los Angeles City Council has approved an apartment tower proposed at 550 South Shatto Place, Koreatown. The project proposal includes the development of a 40-story tower with residential, office, and retail spaces.
Canadian real estate firms Townline and Forme Development are the project developers. Gensler is responsible for the design concepts.
550 South Shatto Place via Gensler
Named Terrace Block, the project will bring a 40-story residential tower next door to the 1930s First English Evangelical Lutheran Church at 6th Street and Shatto Place. The residences will be offered as a mix of 367 studios, one-bedroom, two-bedroom, and three-bedroom apartments. The tower will include 42 units reserved as deed-restricted affordable housing for very low- and extremely low-income households for 55 years.
Office and retail space spanning an area of 36,000 square feet will be developed on the ground floor. Parking for 470 vehicles will be provided on four subterranean levels.
550 South Shatto Place Landscaped Area via Gensler
The tower will rise to a height of 483 feet and will rank among the tallest structures in Koreatown. Renderings reveal a textured glass exterior with balconies and perforated metal screens used to provide articulation.
The project is expected to break ground in July 2022. Completion of the project is expected in Fall 2025. The property site is located at the intersection of 6th Street and Shatto Place.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Be the first to comment on "City Council Approves Apartment Tower At 550 South Shatto Place, Koreatown"