National Real Estate Plans to Build 41-Story Tower Above Downtown LA's The Bloc Shopping Mall

After much debate and deliberation, the Los Angeles City Council has given the green light to National Real Estate Advisors' ambitious project to construct a 41-story, 710-foot-tall residential tower at The Bloc shopping mall in downtown Los Angeles. According to Urbanize Los Angeles, the council approved a transfer of development rights, a development agreement, and a sign district for the effort.

The project, first proposed in 2021, will span a full city block at 700 South Flower Street, 700 West 7th Street, and 711 South Hope Street. National Real Estate plans to build the tower above The Bloc's existing 12-level parking structure, adding 466 studio, one-, two-, and three-bedroom units to the area.

While some have raised concerns about the height of the tower and its potential impact on the surrounding neighborhood, National Real Estate has received support from local officials and community groups. Councilmember Jose Huizar, whose district includes The Bloc, has praised the project as a much-needed addition to the downtown housing market.

"This project will bring much-needed housing to the heart of downtown, while also activating the street level with new retail and restaurant options," said Huizar in a statement. "I am excited to see this development come to fruition and continue the revitalization of this area."

The approval of the project's development agreement also requires National Real Estate to allocate 5% of the units as affordable housing, in accordance with the city's Affordable Housing Linkage Fee program.

While some may question the use of development rights and sign districts to push the project forward, National Real Estate and the city