Local real estate investment firm Walter N. Marks, Inc. has unveiled new details for a proposed apartment tower on the Miracle Mile.
The proposed development, called Mirabel, would replace a 1930s retail building at 5411 Wilshire Boulevard. Plans call for the construction of a 42-story structure containing 348 residential units - including 29 reserved for low-income households and 9 reserved for moderate-income households - above 14,635 square feet of ground-floor retail space and parking for 477 vehicles.
Keating Architecture is designing the tower which is shown with a glass exterior and a curvilinear form. The 521-foot tall building would be capped by a rooftop amenity deck, with addition common open space provided above its parking podium.
While the building is slated to replace a Staples office supply store, the design of the building calls for preserving another vintage Miracle Mile landmark - the former Sontag Drug Store at the intersection of Wilshire and Cloverdale Avenue. The Art Deco structure will continue to serve as a storefront, with new amenities located above.
The developer anticipates a roughly 24-to-36-month construction timeline for the project, with groundbreaking currently on pace to occur in 2021. The project's opening date would occur after the anticipated debut of Metro's D Line extension, which will include a new station two blocks east at Wilshire and La Brea Avenue.
For more information on the project, a virtual open house is scheduled for July 1 at 6 pm.
When Walter N. Marks, Inc. first announced plans for the tower in 2019, it was proposed as a slightly denser development containing 371 apartments. While the developer had initially sought approvals using the City's Transit Oriented Communities incentives program, it has since revised its entitlement strategy to make use of the state density bonus law.
Mirabel joins several notable developments now planned or under construction along the Miracle Mile, including a controversial revamp of the LACMA campus, the Academy Museum of Motion Pictures (now delayed until 2021), and a new apartment tower now rising next to the Museum Square campus.
Other projects anticipated to follow in the future include a renovation of the La Brea Tar Pits and George C. Page Museum and a proposed hotel and housing complex adjacent to the Wilshire/La Brea Metro station.
- 5411 Wilshire Boulevard (Urbanize LA)