DOWNTOWN LOS ANGELES - Jade Enterprises, a development company that primarily works in the Fashion District, is expanding its reach: the firm has submitted plans for a 159-unit apartment complex in the Historic Core.
Jade is looking for city approvals to erect a seven-story building at 540 S. Main St. on what is now a parking lot.
The site, which is just north of the Santa Fe Lofts at Sixth and Main streets, stretches between Main and Los Angeles streets.
Jade officials would not comment on the plans, but according to documents filed with the city, the project, which is dubbed Topaz, would cover the entire lot.
The proposal would require some special city approvals, including a transfer of floor area rights needed to allow the proposed density. A hearing has not yet been scheduled for the project.
While a timeline is unclear, a groundbreaking is likely at least a year away due to the project’s current status and needed approvals.
Jade is also behind another proposed apartment complex in South Park. The company is working on plans for a 419-unit, two-building complex at Pico Boulevard and Flower Streets on two side-by-side parking lots, according to documents filed with the city.
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