The latest project, known as Ferrante, would rise from an approximately 9.6-acre site bounded by Temple Street, Beaudry Avenue, Mignonette Street and the Harbor Freeway. Plans call for the construction of a sprawling seven-story building which would include approximately 1,500 residential units, 30,000 square feet of ground-floor commercial space and on-site parking accommodations for up to 2,606 vehicles and 1,680 bicycles.
The property, located at 1000 W. Temple Street, is currently developed with a ten-story office building and a four-story parking structures. Under Palmer's plan, both would be demolished to make way for the new residential development.
Elevation renderings created by Nelson/Boivin-Architects portray Ferrante with the same Italian-Renaissance-inspired look which typifies Palmer's Downtown apartment complexes. The project would also include approximately 187,000 square feet of recreational and open space, including multiple courtyards, a rooftop deck and interior amenities.
According to Ferrante's initial study, completion of the project is expected sometime during 2018.
The proposed mixed-use complex is located directly across the Harbor Freeway from Da Vinci, a similar Palmer development which was partially destroyed by a dramatic fire in late 2014. The City of Los Angeles is currently suing Palmer for $20 million, claiming that the developer's negligence allowed the fire to occur.