Over the weekend, the installation of a tower crane kicked off vertical construction for CIM Group's Grand Hope Lofts.

The 34-story building, located at 888 S. Hope Street, will feature 526 residential units above approximately 6,000 square feet of ground-floor retail space.  Plans also call for an outdoor pool, a lounge, a rooftop deck and green space above an adjacent parking garage.

Renderings from architecture firm CallisonRTKL portray the tower with a contemporary glass facade.

CIM Group is also in the process of adding retail and office space to a nearby tower at 801 S. Grand Avenue.