The dusty parcel for Park Fifth, the $1-billion condo complex that was proposed back in 2007 but eventually became another on the list of famously stalled projects, got a reprieve last fall when real estate investors MacFarlane Partners decided to buy the site and got started on a plan for a development smaller and shorter than the very ambitious Park Fifth would have been. Now, we're seeing the new project, unfortunately named 5-OH (do they expect the police to be there often?), will have a 24-story, 300-residential-unit tower with panels of aluminum, sandstone, and cement on its exterior, and 315 apartments in a stubby low rise, reports Building LA. There would be underground parking under both towers; up top, the apartment tower would have all the rooftop goodies, like a clubhouse, courtyard, and barbecue pits. It's no 76-story Park Fifth, but unlike that dream, it's actually getting built.
· Meet 5-OH, Park Fifth's Downsized Replacement [BLA]
· Whoa: New Tower Planned For Famously-Stalled Park Fifth Site [Curbed]