Demolition is underway for a former shopping center in Koreatown, as its owners move forward with plans for a residential-retail complex on the two-acre site. 

Located at 3525 W. 8th Street, the property has been entitled by developers Rescore and Cal-Coast Development for the construction of a seven-story building featuring 364 apartments and 52,000-square feet of ground-floor retail space - 23,000 square feet of which would be dedicated to a grocery store. 

Nadel Architects is designing the podium-type building, which is called The Rise Koreatown.  Renderings show a boxy structure with a white exterior and flourishes of red and yellow.

The Real Deal reported last month that the Cal-Coast and Rescore recently obtained $154 million in construction financing for the project.  A timeline has not been announced.

The project site is located just a few blocks east of the intersection of 8th Street and Harvard Boulevard, where prolific local real estate firm Jamison Services, Inc. is currently building a six-story, 131-unit development.

Cal-Coast, Rescore, and Nadel Architects are also in the midst of construction on a similar project called The Rise Hollywood just south of Sunset Boulevard.