Downtown LA Mixed-Use Development Underway
MacFarlane Partners has broken ground on the second phase of Park Fifth, which will consist of 347 units and 5,300 square feet of retail.
Phase II will consist of 347 units and 5,300 square feet of retail. Phase I of the project will be a seven-story building comprised of 313 mixed-use apartments and 7,456 square feet of retail space. The completion of both phases is scheduled for 2019.
“Park Fifth is the ideal location for residents that desire high-end amenities coupled with proximity to transit options,” Ken Lombard, MacFarlane Partners’ president, said. “Downton Los Angeles continues to see dynamic growth and we at MacFarlane are excited to be involved.”
Building amenities will include a 14,000-square-foot courtyard, a pool deck with a zero-edge 60×20 foot pool, cabanas, poolside bar, hot tub, BBQ areas and outdoor dining areas. There’s also an indoor/outdoor fitness center with cardio, weight room and fitness on demand, plus resident lounges with multiple entertainment and media offerings, including bar, kitchen, ample seating, private dining and televisions.
Located directly across from Pershing Square and diagonal from the historic Millennium Biltmore Hotel, Park Fifth is also in walking distance to the Pershing Square Metro Station, Grand Central Market, the Financial District on Bunker Hill and the planned route of Downtown Los Angeles’s restored historic streetcar line.
Ankrom Moisan Architects is serving as the architect on both phases of Park Fifth, while Bernards is the general contractor for Phase I and Suffolk Construction for Phase II.