Jade Enterprises, a Los Angeles-based real estate investment firm, has broken ground on Emerald, a mixed-use apartment complex in the South Park neighborhood of Downtown.
The project - which replaces an L-shaped parking lot bounded by Olive, 14th and Hill Streets - will consist of a seven-story building featuring 154 apartments and approximately 10,700 square feet of ground-floor retail space. Plans call for a mix of studio, one-, two-, and three-bedroom dwellings, located above a two-level basement parking garage with accommodations for 158 vehicles.
Architecture firm MVE + Partners is designing Emerald, which will stand approximately 92 feet in height. Renderings depict a contemporary podium-type structure, highlighted by a series of cascading open spaces along Olive Street, including a rooftop lounge, a pool deck, and a ground-level plaza. Plans also call for a fitness center and a recreation room fronting 14th Street.
Shangri-La Construction is serving as the project's general contractor. Completion is expected in Fall 2021.
Emerald will rise across the street from a 1.45-acre property which the City of Los Angeles has identified as an opportunity site for a new park.
- Emerald (Urbanize LA)