The project, which replaces a surface parking lot at 1340 S. Olive Street, will consist of a seven-story edifice featuring 154 studio, one-, two-, and three-bedroom apartments above ground-floor retail space and two levels of basement parking.
MVE + Partners is designing Emerald, which is depicted in conceptual renderings as contemporary podium-type structure. Tiered building heights would be used to create a series of open spaces facing Olive Street, including a rooftop deck, a pool and spa, and publicly-accessible plaza. Habitable spaces - including a fitness center and a recreation room - will front the project's ground level along 14th Street.
A representative of Jade Enterprises, the developer of Emerald, previously indicated that completion of the apartment complex is anticipated in Fall 2021.
The project is the third in a recent series of Downtown developments from Jade Enterprises, following the Topaz apartments in the Fashion District and the Onyx apartments in South Park. The company is also planning projects in the Fashion District, the Arts District, and City West.
- Emerald (Urbanize LA)