Complex Opens Second Tower, 254 Apartments

The second high-rise tower in the four-building Promenade Towers complex at 123 S. Figueroa St. has opened with 254 apartments, bringing the total completed units to 531, according to a spokeswoman for Goldrich & Kest/Shapell Industries, developers of the $60-million mixed-used project.

The first tower opened last year and now is 80% leased; the new tower was 40% rented on its opening. The development contains a four-story office building, the Far East National Bank and will soon have a grocery store pharmacy, restaurant, dry cleaner, beauty/barber shop and a private health club and gymnasium.

A late-April completion is scheduled for the final element of the complex, a four-story residential building with 27 apartments. The project is designed by Kamnitzer & Cotton, Los Angeles, and Abraham Shapiro & Associates, Santa Monica.