One year after mysteriously stalling out, Los Angeles-based real estate firm CIM Group has restarted construction at 888 S. Hope Street, the future site of a high-rise apartment building in Downtown Los Angeles.
Real estate publication Bisnow reports that last week, crews from Suffolk Construction officially began site preparation for the 34-story tower, which will sit across the street from both Grand Hope Park and a Ralphs supermarket. The project, now known as the Grand Hope Lofts, will include 526 residential units and approximately 6,200 square feet of ground-level commercial space.
The first phase of the development, a six-level parking structure, is substantially complete immediately north of the tower site along Hope Street. Crews are currently building out the garage's ground-level retail staill, which DTLA Rising reports will be filled with a 5,000-square-foot Unleashed by Petco.
Renderings of the project, which was designed by CallisonRTKL, portray the a contemporary glass-and-steel design.
Completion of the development is expected in early 2018.