Just over one month after securing approvals for the construction of a 51-story residential high-rise in at 1115 S. Olive Street in Downtown Los Angeles, Mack Real Estate Group is pulling the plug on a sister project across the street.
In early September, a representative of the developer requested the withdrawal of an entitlement application for a site located at 1120 S. Olive Street. The property, a surface parking lot, had been slated for the construction of a 60-story building featuring 713 homes above ground-floor commercial space and parking.
The proposed tower would have been the largest in a string of developments from Mack on properties in the surrounding South Park neighborhood, including the 362-unit Wren apartments on Pico Boulevard and the 37-story Aven development on Grand Avenue. The developer still retains entitlements for the 51-story tower on Olive Street and a proposed 16-story hotel tower at the intersection of 12th and Olive Streets, though neither of those projects have progressed toward construction.
The Los Angeles Times reported earlier this year that many developers with active approvals for unbuilt projects in the Downtown are actively looking to sell their land, or potentially waiting until market conditions improve.
This is not the first time plans for a skyline-altering tower along 11th Street have fallen through in recent years. A proposed 40-story tower slated to rise a short walk to the east was cancelled in 2024. Likewise, plans for a mid-rise hotel development from AEG at Grand Avenue and a proposed 70-story residential tower from Crescent Heights have also failed to move forward.
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