A development is planned on a parcel of land Hankey Investment Co purchased in 2009 for $7 million. They purchased the property via public auction. Hankey plans to build a 31-story residential and mixed-use tower with Jamison Properties, a prominent developer in Koreatown. One of Hankey’s companies, Midway car rental, operated on the site for many years. The land is located on the southwest corner of Wilshire and Hoover.
Matthew Artukovich of Lee & Associates sold 2.5 acres of land here in 2005 for $11.3M representing the seller, Right Hero Industries USA. The site is located across from Lafayette Park and is near Southwestern Law School (former Bullocks Wilshire building), and the Vermont/Wilshire metro subway station.
2019 UPDATE: see Urbanize.la June 2019 article with fresh info and building renderings.