The Wolff Company, an Arizona-based real estate private equity firm, announced this week that it had selected Bernards to develop Olive & Pico, a $54 million large-scale housing and retail project in downtown Los Angeles east of Staples Center. Wolff Co. also plans to develop a 347-unit apartment and retail complex nearby at 12th Street and Grand Avenue, according to a Los Angeles Times article.
Designed by TCA Architects, the new Olive & Pico project construction will begin this month with delivery expected by mid 2016, adding a seven story building at 12th and Olive Street in the South Park neighborhood. The property will include 293 multifamily units and 17,300 square feet of ground floor retail with 7,000 square feet of amenities.
"South Park is one of the most desirable and active-lifestyle districts in downtown Los Angeles," said Jeff Bernards, senior vice president of Bernards. "We are pleased to have been selected to build this mixed-use residential project, which will add retail amenities and increased vitality on the street, aiding in the continued transformation of South Park to a lively urban neighborhood and evolution of downtown to a true 24-7 market."
For more news and information visit Blumberg Capital Partners.
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