Earlier today, the Los Angeles City Planning Commission voted to approve plans for a 53-story hotel and condominium tower near Pershing Square.
The 5th and Hill development, proposed by local real estate investment firm JMF Development Co., would rise from an L-shaped lot which wraps the Pershing Square Building. Plans call for a slender tower featuring a 190-room hotel and approximately 29,000 square feet of restaurant space, capped by 31 condominiums.
Arquitectonica is designing 784-foot 5th and Hill development, which would rank as the fourth tallest tower in Los Angeles if built today. The design is inspired by Mid-Century Modern architecture, with an array of cantilevered lap pools on the building's upper floors feeding into the condominiums.
Water figures prominently in the tower's design. In addition to the elevated lap pools, plans call for a decorative water feature to screen the building's parking podium along both 5th Street and Hill Street.. The restaurant space would be located above the podium on a 7th floor terrace level.
“As an Angeleno, I was inspired to create a project that embraces our outdoor lifestyle and reimagines the classic California mid-century architecture with an innovative and sleek design that will enhance our city’s skyline and reinvigorate the Pershing Square area in downtown Los Angeles,” said JMF founder Jeffrey Fish.
Construction of 5th and Hill is expected to occur over 30 months. JMF Development has previously announced that project completion is anticipated in 2023.
According to JMF Development Co., 5th and Hill is expected to generate 2,481 full-time equivalent construction jobs, 816 permanent construction jobs, and $410 million in total economic impact during the course of construction. A financial analysis also found that the project would generate $5.5 million annually for the City of Los Angeles' general fund, and $89 million in annual economic impact for the greater region.
Other large towers are planned or wrapping up construction nearby, including the Park Fifth development across Hill Street, and the Angels Landing complex slated for 4th Street.
Additionally, the City of Los Angeles is currently pursuing a phased makeover of Pershing Square, a portion of which is funded by the surrounding developments.
JMF Development Co. owns the adjacent Pershing Square Building, and renovated the historic office complex more than a decade ago. The building is known as the home of Perch - a popular rooftop restaurant and bar - and the basement Japanese restaurant Mrs. Fish.
- 5th and Hill (Urbanize LA)