The mixed-use development, located at the southeast corner of 5th Street and Broadway, is being developed as a joint venture between Witkoff and New Valley, LLC. Plans call for the construction of a seven-story edifice featuring 249 apartments and 55,000 square feet of ground-floor retail space above a basement parking garage.
Koning Eizenberg Architecture is designing The Park, which is depicted in renderings as a contemporary mid-rise structure. Mid-block setbacks will be used to create ground-level courtyards, while a rooftop amenity deck is slated to provide open space for residents.
At the time of the project's groundbreaking, the developers announced their intent to open the apartments in 2021.
Upon completion of construction, The Park could be joined by three similar housing and retail developments from WS Communities, which are slated to replace commercial buildings located a block north along 5th Street.
Witkoff, which is based in New York, and New Valley, which is headquartered in Miami, previously developed an Edition Hotel with branded condominiums on the Sunset Strip.
- 500 Broadway (Urbanize LA)