The seven-story building, located at the corner of Wilshire Boulevard and Hobart Avenue, features 346 studio, one-, and two-bedroom dwellings with 8,300 square feet of ground-floor retail space. Ground-floor tenants at the property will include Alchemist Coffee Project, a specialty café, and The Carving Board, an artisan sandwich shop.
A leasing website shows 17 different floor plans, each featuring in-unit washer-dryer sets and appliances. Monthly rents range between $1,975 and $3,115 per month.
Designed by VTBS Architects, the project will also include amenities such as a pool deck, a fitness center, and a club room.
Prior to the global recession, the project site was controlled by the now-defunct Community Redevelopment Agency, which sought to turn the southern half of the property into a public park while allowing a 40-story apartment tower to rise toward Wilshire. However, the demise of the CRA spelled an end to that plan, and the property was sold.
Instead, a small pocket park is planned for the parking lot adjacent to the nearby Pio Pico Library.
- The Pearl on Wilshire Archive (Urbanize LA)