LOS ANGELES | 5411 Wilshire Blvd (Mirabel) | 521 FT | 42 FLOORS

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Luxury Art Deco-inspired skyscraper planned for Miracle Mile in Los Angeles

The Miracle Mile has demonstrated new vitality in recent years as apartment complexes with shops and restaurants opened in advance of upcoming mega developments at the Los Angeles County Museum of Art complex.

Now, the storied stretch of Wilshire Boulevard that was once a premier Los Angeles address is poised to get a further lift in the form of a soaring $400-million luxury apartment skyscraper with Art Deco flair.

The planned 42-story tower near the coming La Brea Avenue subway station would replace a Staples office supply store, and is being proposed by the property’s longtime owners: the family of Walter N. Marks, a real estate broker and developer who was so active on the boulevard he was called “Mr. Wilshire.”

The Marks family, which has owned the property since 1968, is betting there will be plenty of demand for the 371 apartments — including 56 set aside for low-income residents — when the neighborhood’s Purple Line extension opens in a few years, bringing an expected 50,000 weekday riders.

“There are going to be a lot more people” on Miracle Mile, said Walter N. Marks III. “Industry follows people, my grandfather used to say.”

The family, which also owns and renovated the landmark Helms Bakery District retail complex in Culver City, will seek city approval to build a skyscraper designed by Los Angeles architect Richard Keating, who also designed the 52-story Gas Company Tower office building downtown.

Marks and Keating envision the tower, set to open in 2023, as an updated version of graceful prewar luxury housing on Wilshire Boulevard, such as the Talmadge, Gaylord and Bryson. In a bid to connect to those origins — as well as that of an Art Deco building on the property that will remain — the apartment tower will have a curvilinear shape and overlapping windows that can open to let in a breeze.

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https://www.latimes.com/business/la-fi-m...sidential-skyscraper-20190529-story.html