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In downtown Los Angeles, cranes dot the skyline, operated by workers busy erecting new hotel, condominium and apartment towers.
In all, more than 10,000 residential units are under construction, with thousands more planned.
And now, with the building boom reaching new heights, a developer is proposing the most futuristic plan yet: a nearly 60-story condo tower where home buyers will swim in their own lap pools that extend from their units and hover above the street.
The Pershing Square-adjacent project by developer Jeffrey Fish has the potential to revitalize a neighborhood centered around one of the city’s oldest public spaces, which has seen less investment during the current boom than elsewhere.
“This would be so important,” said Mike Condon Jr., an executive managing director with brokerage Cushman & Wakefield who is not involved in the project. “He knocked it out of the park with what he is proposing there.”
Fish is planning a slender tower on an empty lot next to the Pershing Square Building, a 1920s structure he bought in 2003 that has become a nighttime destination after he opened the popular rooftop restaurant Perch and basement club Mrs. Fish.
The developer’s new project, named Fifth and Hill, comes in two possible iterations pitched to the city last week in formal filings. One would be a 55-story tower with 100 condos, 200 hotel rooms and 27,500 square feet of commercial space. The other is a 57-story tower with 142 condos and 25,000 square feet of commercial space. […]