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Continuum Partners CEO Mark Falcone and the development site (Continuum, iStock, Google Maps)

Continuum Partners CEO Mark Falcone and the development site (Continuum, iStock, Google Maps)

The megaproject is the largest to come out of the pandemic era and one of the most ambitious Los Angeles has seen in years.

Continuum Partners wants to build a $2 billion mixed-use development that would deliver 1,500 residential units, office space and a hotel in the Arts District, near Skid Row. Plans were revealed early Thursday, according to the Los Angeles Times, which first reported the story.

Called Fourth & Central, the complex would include 10 buildings, with 572 condominiums and 949 apartments, according to the report. There would be 216 units set aside as affordable. The project would also deliver a 68-room hotel, 400,000 square feet of office space, and an unspecified amount of retail space.

The largest tower would be 42 stories, and the development would rise on 7.6 acres at the corner of Central Avenue and Fourth Street. Studio One Eleven is designing most of the buildings. The firm brought on architect David Adjaye to design the large tower and another complex. The varied building designs are meant to imitate a neighborhood built up over a longer period of time, according to the report.

The project would transform the area by replacing a cold storage facility dating to the 1890s. Continuum formed a partnership with the property owner, Los Angeles Cold Storage, to develop the site. The deal includes relocating the business.

The development site isn’t far from two other Continuum projects. The firm is building a 107,000-square-foot office and retail complex dubbed Produce LA. And in November, it filed plans for an 185,000-square-foot office tower next door on Mesquit Street.

[LAT] — Dennis Lynch