Despite the Covid-19 downturn, Australian residential developer Crown Group is ploughing ahead with its plans for expansion, having secured land for its first property in the US – a mixed-use high-rise condominium and hotel tower in Downtown Los Angeles.
The project is part of a joint venture with Singapore-based Magnus Property and ASRI, the lifestyle arm of Indonesian property developer Agung Sedayu Group.
The group is progressing entitlements with Los Angeles City Hall for the proposed tower, which is earmarked for the south-east corner of South Hill and 11th streets at the convergence of Downtown’s financial, fashion and South Park districts.
Slated for completion in 2024, the 43-storey tower will be designed by Koichi Takada Architects.
The upper floors of the building will comprise 319 condominiums with an exclusive residents’ retreat over the top two floors.
Crown Group is also in discussions with several luxury hotel brands to incorporate a 160-key hotel set within the lower levels of the building.