The site comprises 0.66 acres and falls within the Greater Downtown Housing Incentive Area, which excludes it from conventional C2 density calculations. The site also falls under the City of Los Angeles Transit Priority Area, Transit Oriented Communities (Tier 3), State Opportunity Zone, and the Los Angeles State Enterprise Zone.
The City Center, South Park Neighborhood is encouraged to be a predominantly residential, mixed-use gateway. The subject property is located directly across the street from Jade Enterprises’ proposed 154-unit, mixed use “Emerald” development, and is just blocks away from the Los Angeles Convention and Staples Centers. Numerous other developments surround the site, illustrating the bloom of residential projects in the neighborhood. Furthermore, the population in the immediate area is also becoming increasingly more dense. Stronger
demographics and an influx of capital from around the world have created a wonderful opportunity for a developer/investor to capitalize on the potential of this promising pocket of Downtown Los Angeles.
