The Wolff Company Develops Mixed-Use Community in L.A.’s South Park District
By Alex Girda, Associate Editor
A new community is nearing its official groundbreaking, with The Wolff Company currently set to start work on its latest mixed-use project. Poised to take shape in downtown Los Angeles, the 12th & Olive development is a $54 million project on which developer The Wolff Company is working with TCA Architects and Bernards.
Located at 1243 S. Olive in the downtown L.A. district of South Park, the new community will include residential and retail space as well as common space for resident amenities. The 293 residential units included in the seven-story structure will feature high-end finishes and long-term maintenance advantages. The building will feature a total of 17,300 square feet of ground-floor retail, while the common space will occupy a total of 7,000 square feet of space. Based on designs from TCA, the podium-like structure of the building will be the defining feature of the mixed-use project. 12th and Olive will be located near Staples Center, the home of the most important local sports franchises, the Clippers, the Lakers and the Kings, and the LA Convention Center, as well as “7th Street Restaurant Row” and the Grammy Museum.
The community will offer its residents high-end amenities such as a 24/7 on-site valet service and concierge service, creating a hotel-like experience. The project is very similar to the developer’s nearby 12th & Grand mixed-use community, with that project offering a slightly larger number of residential units and a slightly higher amount of ground-floor retail space. That project will take shape at 1200 S. Grand Avenue, creating a specific style of community for The Wolff Company in the downtown Los Angeles real estate market.
Image courtesy of awolff.comTags: 12th and Olive, Architecture/Design, Bernards, Consumer, Conventional - Market Rate, Developers, Development, economy, Finance/Investment, Investors, Local, Los Angeles Lead Story, Los Angeles Real Estate, mixed-use, mixed-use community, multi-family, National, Owners, Professional, Regional, Residential, South Park, TCA Architects, The Wolff Company