The Los Angeles City Planning Commission approved a 51-story mixed-use development on South Olive Street. The project involves the demolition of an existing surface parking lot and the construction of 536 residential dwelling units alongside 4,178 square feet of ground-floor commercial uses. A key aspect of the approval is the Transfer of Floor Area Rights (TFAR) of up to 274,795 square feet from the Los Angeles Convention Center, which allows the project to achieve a maximum 9.13:1 Floor Area Ratio (FAR) instead of the standard 6:1. This transfer includes a TFAR payment of $1,373,975 and a Public Benefits Payment of $11,462,471.39, with a portion allocated to affordable housing. The development will feature 581 automobile parking spaces across subterranean and above-grade levels, reach a height of 603 feet, and encompass a total floor area of 491,515 square feet. Conditions of approval address aspects such as reduced drive aisle width and parking stall size variances, compliance with green building codes, provision of 58,275 square feet of open space, stormwater management, and the inclusion of active ground-floor uses. Additionally, the approval permits the sale and consumption of alcoholic beverages on-site.