The $700 million project at 1020 South Figueroa St. heads to the Los Angeles City Planning Commission for the next step in its approval process, according to a report from Urbanize LA. Led by developer Stephen Hazens, 1020 Figueroa has been in the works since plans were originally filed in November 2015, though designs have changed since then.

Should the development move ahead, it would replace the Luxe City Center hotel and a parking lot with two high-rise buildings. Those structures would feature 435 condominiums, a W Hotel with around 300 rooms, and about 80,000 square feet of commercial space as well. 

The project at 1020 Figueroa would be one of many in the works in and around Downtown LA. A 64-story skyscraper was recently approved near Figueroa Street, and a South Main Street parking lot development is securing $100 million in funding. South Park and other neighborhoods have also been busy bringing new additions to Los Angeles’ expanding skyline this year.