Two tower cranes now stand tall in Koreatown, as construction goes vertical for a $300-million apartment tower at 2900 Wilshire Boulevard.
The project, a joint venture between Hankey Capital and Jamison Services, Inc., will consist of a 25-story building containing 644 apartments atop a podium featuring 1,100 parking spaces and 15,000 square feet of ground-floor retail space.
Designed by LARGE Architecture and Dianna Wong Architecture + Interior Design, the tower's podium will be capped with a one-acre amenity deck, while its exterior will be wrapped with residential units - masking the parking within. Plans call for a tower with an amorphous footprint, rising 269 feet in height. The unique shape of the building avoids casting shadows on neighboring Lafayette Park.
The project will include a mix of studio, one-, and two-bedroom apartments, in addition to three-bedroom penthouse units. Rents will range from $2,000 to $10,000 per month.
2900 Wilshire is one of several projects on which Hankey Capital and Jamison Services have partnered, including the two-tower Circa development near Staples Center, and a proposed 490-unit apartment complex adjacent to the Vermont/Beverly subway station.
The tower is the latest in a recent string of high-rise developments for Koreatown, starting with The Vermont apartment towers at 3150 Wilshire and an 18-story building at 3033 Wilshire. Construction is also underway for a 20-story office tower at the corner of 6th Street and Vermont Avenue that will become the new headquarters of the Los Angeles County Department of Mental Health.