Downtown Los Angeles real estate giant Brookfield recently announced plans to modernize the Fashion District’s California Market Center, but it is showing no sign of slowing down. Today, the company took initial steps toward another mammoth project, this time in the residential sector.
Brookfield has filed papers with the Department of City Planning for a 64-story tower at 945 W. Eighth St. It would rise on a grassy parcel of land between the FIGat7th shopping center and a parking structure. The project would have 781 condominiums and 831 parking spaces.
The tower would complete a block occupied by FIGat7th and the high-rises 777 Figueroa and Ernst & Young Plaza. Architecture firms Marmol Radziner and Large Architecture are designing the tower.
A representative for Brookfield did not immediately return calls for comment.
Brookfield acquired the property in 2013 as part of its $450 million acquisition of MPG Office Trust. The company owns, manages or leases more than 8.6 million square feet of space in Downtown.
The tower, proposed the same day the 73-story Wilshire Grand Center is being dedicated at Seventh and Figueroa streets, would be the latest high-rise proposed for the northern part of the Figueroa Corridor. Neman Family Real Estate is working on plans for a 57-story tower that would replace a car wash at Figueroa Street and Olympic Boulevard. Just north of that, developer Regalion is looking to build a 66-story tower with 220 hotel rooms and 200 condos. Nearby, Mitsui Fudosan America is developing a 43-story apartment building at 744 S. Figueroa St.