The venture has won approval from the Los Angeles City Council for the project, which will be built under a Fifield venture called Wilshire Landmark. Nadel & Associates of Los Angeles will head the design team, which includes several consulting architects. Fifield expects to begin construction later this year in a plan to have the building ready for occupancy in spring 2005.
The condominium development will join a number of other such towers along a stretch of Wilshire Boulevard known as the Wilshire Corridor, home to some of the most luxurious condos in the city. The project is planned for 85 condominiums in 280,000 sf of floor area.
Fifield says the Wilshire Landmark venture will acquire the site from current owner Richard Weintraub, a Los Angeles-based developer. The Wilshire Landmark venture will involve Los Angeles-based California Landmark, a development and investment firm that was founded in 1988 and headed by Ken Kahan and Steve Erdman. California Landmark, which has extensive experience in the West Los Angeles condominium market, also has developed apartments, office and industrial projects, medical office buildings and other commercial properties in Southern California.
Fifield is headed by Steven Fifield, president and founder, who established the company in 1977. The firm began as a suburban office building developer and has evolved into a major developer of high-rise urban office and residential buildings. It has completed 48 buildings comprising more than 10 million sf, valued at more than $2.5 billion.
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