The .7-acre complex will be modeled after Glass House Dallas, Wood’s popular 375-unit luxury apartment community in Texas, and its 393-unit high-rise condo project Glass House Denver. The one- and two-bedroom units will consist of floor-to-ceiling glass, and will incorporate the most popular floor plans of Wood’s existing high-rise communities across the country.

The Hope St. high-rise will also offer an impressive amenities package, and each unit will include an expansive balcony and high-end interior finishes. Parking will be on six levels, two of them underground, with 5,000 square feet of retail space on the street level.

Also included is an approximately 10,000-square-foot elevated pool deck with a clubroom containing retractable glass walls that lead out to the oversized pool, outdoor social/dining area, spa, fire pit and garden retreat. Additionally, a rooftop deck overlooking the Staples Center and L.A. Live to the southwest and the high-rise buildings of the CBD to the north will provide additional outdoor gathering/event options for residents.

“We’re designing this high-rise to provide an outdoor experience in an incredibly urban environment,” said Hansen. “Our demographic for this area—young professionals—has shown a clear desire for that indoor-outdoor connection.”

In addition to the 290 units planned at 8^th and Hope streets, Wood has 800 units under construction in Southern California, including 298 units at the $75-million Warner Park luxury apartment community 25 miles northwest of Los Angeles, set to begin leasing early next year. Hansen sees opportunity for additional development, adding that two of the largest and fastest-growing areas of Southern California are downtown L.A. and Hollywood. In 2010, Wood completed a 218-unit project in Hollywood that had many of the same urban, transit-oriented characteristics of the project at 8^th and Hope.

Hansen was unable to be reached by GlobeSt.com before deadline to discuss the project’s projected construction costs or any other nearby construction expected to be synergistic with the apartment community. However, Wood did reveal in a prepared statement that construction of the Hope St. high-rise project is estimated to generate nearly $23 million in local income, $2.4 million in taxes and other revenue for local governments, and some 350 local jobs.

As GlobeSt.com previously reported, in May Wood Partners LLC began construction on a 338-unit multifamily community at Alta Alameda Station in Denver that will be open for lease in the summer of 2013, with expected completion in early 2014.