Lennar South Park Project Underway
Lennar Multifamily Communities began construction on its first project in Downtown LA: the 201-unit Olympic & Olive in South Park. (They saw a sign that said "School Ahead. Go Slow," so they did.) The upscale mixed-use development is aimed at Gen Y, offering open floor plans, gathering places (think pool and sundeck, roof terrace, and outdoor kitchen), and two large resident amenity spaces including a 1,500k SF fitness center. The 4,000 SF of ground-floor retail is earmarked for a restaurant catering to Gen Y eaters. (All that biking, swimming, and working out build up an appetite.)
KTGY Group designed the new community, located on one acre at the southwest corner of Olympic Boulevard and Olive Street. According to principal David Senden, the project will feature a dozen two-story loft-style units on Olive with individual walk-up entries providing direct access from the sidewalk. He says the townhomes also will hide the garage, which will have two levels above ground plus one subterranean level. All told, Olympic & Olive will contain 64 studio units, 109 one-bedroom and 28 two-bedroom units. Completion: summer 2016.