Onni Group Plans Tower in LA's Miracle Mile
Canadian firm to build 45-story Art Deco apartment building on Wilshire Blvd.
Vancouver-based Onni Group is planning to build a 45-story residential tower in LA’s Miracle Mile on Wilshire Boulevard.
The development at 5350-5376 Wilshire Blvd. will preserve century-old Art Deco-style storefronts in the neighborhood, including an Art Deco building that houses a US Post Office.
According to the developer, the 530-foot-tall glass-sheathed project, designed by DTLA-based MVE + Partners, will reflect the symmetry, geometric lines and repeat patterns of the Art Deco style with layers of protruding balconies.
“As the gateway to Miracle Mile east, the new tower will serve as an elegant beacon that will highlight an entry to the collection of cultural arts buildings, museums and public art spaces within Miracle Mile,” Omni said, in a statement.
“Architect Edward Sibbert’s use of strong vertical lines and Art Deco details has heavily influenced the framing at the tower,” the statement noted.
The tower, to be known as 708 Cloverdale, will be topped with a crown that will encompass five penthouses. The new 45-story tower will feature 419 one- and two-bedroom apartments above 2,700 SF of ground-floor restaurants. It also will include a gym, sky lounge and pool deck.
Onni purchased the 1.4-acre site, which sits between Detroit St. and Cloverdale Ave. for $30M in May 2021.
The Canadian company received Transit Oriented Communities incentives from Los Angeles in exchange for its pledge to set aside 47 apartments for low-income housing. The city is planning to build a Wilshire/La Brea subway station in proximity to 708 Cloverdale.
The new residential tower is just one component of Onni’s massive development plans for the Mid-Wilshire area of the Miracle Mile.
The residential tower will be in proximity to the Canadian firm’s redevelopment of the Wilshire Courtyard complex at 5700 and 5750 Wilshire Blvd., which the company bought before the pandemic from Tishman Speyer for $630M.
Onni also is planning to build a 42-story residential tower at 5411 Wilshire Blvd. and a 125-room hotel and condo complex at 639 South La Brea Ave.
Onni is building a 347-unit residential tower in DTLA’s Arts District. The Vancouver-based company also is converting a Long beach strip mall into multifamily housing and redeveloping the former LA Times building in DTLA.