More than two years after breaking ground in Downtown's South Park neighborhood, the wood frame of a mixed-use project from FMB Development is now rising at 1317 S. Hope Street.

The project, which replaced a small warehouse near Metro's Pico Station, will consist of a seven-story building featuring 38 rental apartments and 4,000 square feet of ground-floor retail space.

Plans call for a mix of studio, one-, and two-bedroom apartments, of which six will be set aside as affordable housing.

The contemporary low-rise structure is designed by DE Architects, and will feature a rooftop deck.

FMB intends to operate the property under its Ayala brand.

A half-block south, a single-story commercial building once occupied by the South Park Business Improvement District was recently demolished to make way for a similar six-story project feature 33 apartments.