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proposed 53-story residential skyscraper in downtown Los Angeles has cleared a key regulatory hurdle, paving the way for construction on top of an existing parking garage. The tower would be one of the city's tallest and part of the densest mixed-use complex, known as the Bloc, which already features office and hotel towers, a cineplex, stores, and restaurants.

    The City Planning Commission recently approved the long-planned addition, which will now head to the City Council for a final vote. The project involves building a 41-story apartment or condominium tower on top of the complex's original 12-story garage. The Bloc has undergone significant transformations since its opening in the early 1970s as an indoor shopping mall.

    Developer Wayne Ratkovich led a major renovation, removing the roof and creating a sunken public plaza. However, construction issues delayed work and increased costs from $180 million to over $250 million. National Real Estate Advisors acquired the property in 2018 and is moving forward with the residential tower.

    The planned addition would include 466 units, ranging from studios to three-bedroom apartments or condos, with an outdoor amenity deck featuring a swimming pool, barbecue area, and landscaping. The garage would be seismically retrofitted as part of the development, which aims to begin construction by 2027 and complete by 2030.

    The timing and decision on whether to build apartments or condos will depend on market demand. Plans also allow for large-format digital displays around the complex. Los Angeles is facing a housing shortage and slowdown in new construction, with a multifamily vacancy rate of 5% and tenants renting 10,000 more units than they vacated over the past year.

    Downtown stakeholders have expressed support for the project, citing its potential to create a balanced 24-hour community with residential, commercial, and hotel uses.