After failing to become a historic landmark last year, news about the William Pereira-designed office building sitting on the former Metropolitan Water District has been nonexistent. But last week, its owner announced that a new mixed-use project is now in the works. The master plan, which is slated for the approximately five-acre parcel on Sunset Boulevard nearby Chinatown, Downtown, and Echo Park, has been named 1111 Sunset Boulevard.

According to The Eastsider, a well-known team has been assembled to design the massive development. The Los Angeles-based architecture firm Skidmore, Owings & Merrill has been tapped to design the project, along with landscape designer James Corner, and real estate development and investment firm Palisades. Though specific details for the plan, including the project size and timeline, are still unclear, this high-powered collaboration is sure to create something buzzworthy.

Organizers are aiming to not only revitalize this area of Downtown but also activate a long dormant piece of property to showcase its history and spirit. An empty office structure and a bankrupt church currently sit on the proposed site, which was built in the 1960s.