Park Fifth, the highlyanticipated luxury apartment community in Downtown Los Angeles, hasofficially opened. Developer MacFarlane Partnersand construction company Suffolk have deliveredthe two-tower 347-unit apartment project. It features 24-storyhigh-rise building, and the adjacent Trademark, a seven-storymid-rise building in overlooking Pershing Square in Downtown LosAngeles.

"We knew from the outset that the downtown market—with thenumber of class-A apartments scheduled to be delivered around thesame time as Park Fifth—that the market would be competitive,"Victor MacFarlane, chairman and CEO at MacFarlanePartners, tells GlobeSt.com. "Nonetheless, we believed that we weregoing to deliver one of the best, if not the best apartmentcommunity in the market. The initial reaction to and leasing ofPark Fifth has been outstanding. The response has beenoverwhelmingly positive about the design, the units and the amenitypackage."

The final product is exactly as was conceived by the architectsand developers. "The renderings of the project were produced by thearchitects at Ankrom Moisan Architects very earlyon after the project was conceived, and we're proud that we wereable to deliver a final product that was identical to what the teamhad envisioned," Bernie Morrissey, VP ofoperations at Suffolk, tells GlobeSt.com. "The material selectionsand finishes of the 24-story, cast-in-place concrete project helpedgive it a distinguished look in the center of a newly revitalizeddowntown Los Angeles, which all partners were very pleasedwith."