April 21, 2020 Comments Off on Australian Developer Buys DTLA Site for 43-Story MXU Tower; First Project in U.S. Views: 2028 California News, Los Angeles, Top California

Australian Developer Buys DTLA Site for 43-Story MXU Tower; First Project in U.S.

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Australian residential developer Crown Group is making its first move into the U.S. It bought a site at 1111 Hill St. in DTLA where it plans to develop a 43-story mixed-use condominium and hotel tower.

The tower’s inspirational design by world-renowned Koichi Takada Architects will embody Crown’s philosophy of melding inspired architecture with a futuristic vision of a new way of living. The developer is pursuing entitlements for the proposed tower, that is expected to deliver in 2024.

The tower will comprise 319 condominiums with an exclusive residents’ retreat over the top two floors and a façade design that references California’s gigantic ancient redwood trees. Crown is looking to bring a luxury hotel brand to operate a 160-key hotel. A dramatic street canopy is planned with a “breathing green wall,” designed to improve air quality and introduce a unique landscaping feature to the streetscape.

The development JV includes Singapore-based Magnus Property Pte Ltd and Indonesia’s ASRI, the premium lifestyle brands division of Agung Sedayu Group.

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