Mack Real Estate Group Pulls Plug on Proposed DTLA High-Rise at 1120 S. Olive Street

Just over one month after securing approvals for the construction of a 51-story residential high-rise in Downtown Los Angeles, Mack Real Estate Group is pulling the plug on a sister project across the street. The developer has requested the withdrawal of an entitlement application for a 60-story building at 1120 S. Olive Street, a surface parking lot that was slated for 713 homes above ground-floor commercial space and parking. While Mack Real Estate Group still holds entitlements for the 51-story tower and a proposed 16-story hotel tower at the intersection of 12th and Olive Streets, it seems that neither of these projects are moving forward at this time. This comes as many developers in the Downtown area are looking to sell their land or waiting for market conditions to improve, according to the Los Angeles Times. This is not the first time plans for a massive tower along 11th Street have fallen through. A proposed 40-story tower to the east was cancelled in 2024, along with plans for a mid-rise hotel development and a 70-story residential tower in the surrounding area. Originally reported by https://la.urbanize.city/post/developer-pulls-plug-proposed-dtla-high-rise-1120-s-olive-street