845 S Olive St
In November 2021, Relevant Group filed an application with the Department of City Planning to construct a 19-story high-rise at 845 S. Olive Street, replacing an asphalt parking lot with 329 studio, one-, and two-bedroom apartments above 5,300 square feet of ground-floor commercial space and subterranean parking for 14 vehicles.
Requested entitlements include density bonus incentives to build more housing than otherwise allowed by zoning rules with reduced on-site parking. In exchange, 36 of the proposed apartments - which would range from 347 square feet to 670 square feet in size - would be restricted as affordable housing for rent by very low-income households for a period of 55 years.
Gensler is designing the proposed project, which in a hallmark for Relevant Group projects, would be constructed from prefabricated modular units. The tower, which would stand more than 200 feet in height, would be clad in a system of metal panels and perforated metal screens, and culminate in a large rooftop pool and amenity deck.
-SOURCE: URBANIZE LA
Gross Sq Ft: 250,000
Number of Stories: 8
LEED Certification: Not Certified
Retail Sq Ft: 4800
Residential Type: Apartment, Affordable
Market Rate Units: 297
Affordable Rental Units: 37
Total Rental Units: 334
Total Units: 334