Onni Group Plans Twin 67-Story Towers at $630M Wilshire Courtyard Site

• Onni Group plans to replace part of the Wilshire Courtyard office complex with two 67-story residential towers in Los Angeles.
• The project would add 2,586 apartments near the recently completed D Line subway extension.
• Onni reportedly paid $630 million for the Wilshire Courtyard property at 5700 and 5750 Wilshire Boulevard.

What Onni Is Planning at Wilshire Courtyard

Onni Group is making a major shift from office development to housing with plans for twin residential skyscrapers at 5700 Wilshire Boulevard in Los Angeles. The Vancouver-based developer recently filed plans with the city to redevelop portions of the Wilshire Courtyard office complex into two 67-story apartment towers containing 2,586 residential units. Onni reportedly paid $630 million for the Wilshire Courtyard property at 5700 and 5750 Wilshire Boulevard, one of the largest office campus transactions in Los Angeles at the time of acquisition. The new proposal would replace the front sections of the existing office campus while retaining part of the current commercial footprint. Plans call for a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments alongside roughly 56,400 square feet of new commercial space expected to house restaurants and a grocery store. Parking for more than 2,100 vehicles would be integrated into podium structures wrapped by residential units.

What Makes the Project Significant

Designed by SCB, the towers would rise approximately 796 and 797 feet tall, making them the fourth- and fifth-tallest buildings in Los Angeles if constructed today. The project also includes 197 apartments reserved for very low-income households, allowing the developer to pursue density bonus incentives tied to affordable housing requirements. The development site sits near the recently completed D Line subway extension, positioning the towers within one of Los Angeles’ growing transit-oriented development corridors. Onni also plans to preserve portions of the existing private roadway and park space currently integrated into the Wilshire Courtyard property while adding new pool decks, landscaped courtyards, and outdoor amenity areas. Landscape architecture firm AO is overseeing the project’s open-space design.

What the Project Signals for Los Angeles Real Estate

The proposal highlights the continued shift away from speculative office development toward residential and mixed-use projects in major urban markets. Before the pandemic, Onni had planned a large office expansion at the property that would have added approximately 1.8 million square feet of office space. The pivot to housing reflects broader changes across commercial real estate as developers respond to slower office demand and stronger long-term fundamentals for residential development. Transit-oriented housing projects have become increasingly important in Los Angeles as city officials push for greater residential density near rail infrastructure. The project also demonstrates continued confidence in high-density multifamily housing despite elevated financing costs and construction challenges affecting much of the California development market. For Onni Group, the Wilshire Boulevard proposal adds to a growing pipeline of multifamily and mixed-use projects underway across Los Angeles, Hollywood, Glendale, Long Beach, and Downtown LA.