With a trio of construction cranes now in place, South Park's $900-million Oceanwide Plaza development is now ready to begin its vertical climb.

The mixed-use complex, which is being developed by the Beijing-based Oceanwide Real Estate Group, will consist of three high-rise buildings on a 4.6-acre site across the street from Staples Center and L.A. Live.  The 49-story north tower, currently the second tallest building under construction in Los Angeles, will consist of 164 luxury condominiums and a five-star, 183 room hotel.  The twin south towers will each rise 40 stories, featuring a combined total of 340 condominiums.  All three buildings, designed by the architecture firm CallisonRTKL, will sit atop an eight-story podium featuring 160,000 square feet of retail space and 1,440 parking spaces.

Work on Oceanwide Plaza is proceeding along an approximately two-and-a-half year timeline, with completion expected in 2018.

The project, with its three towers, is one of more than a dozen high-rise developments now rising throughout Downtown Los Angeles, realigning the city's formerly stagnant skyline.