A series of large residential developments will soon bring more than 1,000 new apartments, plus street-level shops and restaurants, to a three-block section of Pico Boulevard in Downtown Los Angeles.

Now, a developer is looking to expand the neighborhood's booming residential population to a new frontier through a proposed mixed-use complex on the eastern fringe of South Park.

The project - slated for a .67-acre site at 1340 S. Olive Street - would consist of a seven-story building featuring 154 apartments above approximately 10,700 square feet of ground-floor retail space.

It is being designed by MVE + Partners, an Irvine-based architecture firm whose recent work includes a pair of upcoming apartments towers on Spring Street.

The property, which also fronts Hill and 14th Streets, is currently in use as a surface parking lot.

Further details about the development are unavailable at this point in time.

A case filing from the Los Angeles Department of City Planning lists the project's applicant as a limited liability company linked to Jade Enterprises, a prominent Downtown landlord.  The company has recently ventured into residential development, with projects now under construction near Pico Station and in the Historic Core.