Los Angeles Koreatown shopping mall Wilshire Galleria is set to reborn as a hybrid of hotel and condominium.
The mall, located on Wilshire and New Hampshire (3240 Wilshire Blvd), was purchased for $49 million by Harridge Development Group, which has decided to redevelop the property that will provide 160 hotel rooms, restaurants and retail shops. The building currently has six stories and is 138,730 square feet. The redevelopment plan includes a deck, guestroom and swimming pool on the rooftop.
Furthermore, two buildings (a 35-story and 7-story buildings, respectively) will be newly erected to replace the 2.15-acre parking lot (see picture).
The 35-story building will serve as a condominium with 335 units and a 2,800-square foot business area. The units will mostly provide one or two bedrooms, while every floor from second to eighth will serve as a parking structure that is large enough for 720 cars.
Alongside the 35-story building, the 7-story property will be made up of studio and one bedroom units with a 2,300-square foot business area. The two buildings will also provide courtyards and bicycle parking.
The expected completion time for construction, which will begin next year, is 2020.
Wilshere Galleria was formerly owned by Hannam Chain president Ki-hwan Ha since 1996, but was sold last November.