Wood Partners Restarts 290-Unit High-Rise in Downtown L.A.

By Alex Girda, Associate Editor Low construction costs and growing demand in all housing segments are helping multi-family projects in Los Angeles escape from development limbo. Among the latest is a 290-unit Downtown high-rise planned by Wood Partners and stalled …

Low construction costs and growing demand in all housing segments are helping multi-family projects in Los Angeles escape from development limbo. Among the latest is a 290-unit Downtown high-rise planned by Wood Partners and stalled since 2008. Wood is positioning the property to attract young professionals, especially those working Downtown.

Located at 801 S. Hope Street in the South Park district, the 22-story complex will be modeled on Glass House Dallas and Glass House Denver, multi-family high-rises developed by Wood Partners in Texas and Colorado.

Like those two properties, the Los Angeles tower will feature one- and two-bedroom units characterized by floor-to-ceiling glass. The amenity package will include high-end interior finishes, a 10,000-square-foot elevated pool deck, a clubroom with retractable glass walls facing the pool, an outdoor dining area, a spa, a fire pit and a garden retreat. A rooftop deck offering views of the Staples Center and L.A. Live will round out the incentives. Also planned are six levels of parking and 5,000 square feet of street level retail space.