It's 2007 all over again: South Park is HOT. Earlier today we heard of a giant villagey development proposed for the DTLA 'hood and now prolific developer Sonny Astani is making in-roads on an adjacent project. Astani bought part of the parking lots that the project will sit atop in the fall for $29 million and now he and the company that owns the rest of the parcel have flipped it for $45 million to an Arizona-based real estate private equity firm, which will build an eight-story, 640-unit project with Astani's help, beginning in January. Described as a double building in earlier reports, the development--called G12, for Grand and Twelfth--will have 640 units and 40,000 square feet of retail. Astani's folks tout in a release that G12 will be the first major project in LA with more bike spaces (740) than car (595). We can get on that, as well as the design, which comes from Thomas Cox and Associates.
· Take a Look at Astani's Double Mixed-User in South Park [Curbed LA]