Santa Monica-based Palisades Capital Partners has received approval from LA's city council to build a cluster of high-rises, including 737 apartments and a 180-room hotel in LA's Echo Park neighborhood near Chinatown.
Plans for the site at 1111 Sunset Boulevard include 49-story, 30-story and 17-story buildings as well as two- and four-story bungalows on a 5.5-acre site once owned by Metropolitan Water District.
The towers will be the first high-rises in an LA neighborhood with buildings no taller than eight stories. Prior to the city council's approval, the area located near the interchange of Route 101 and 110 had not been zoned to permit high-rise buildings.
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