Locally-based developer Etco Homes has broken ground on a new condo complex in Beverly Hills.

The project, approved earlier this year by the City of Beverly Hills, is located at the northwest corner of Beverly Boulevard and Palm Drive. Plans call for a five-story edifice featuring 20 one-, two-, and three-bedroom dwellings above a two-level, 62-car subterranean parking garage.

Kevin Tsai Architecture is designing the building, called 425 Palm Drive, which will be clad in a combination of cement plaster and aluminum. A roof deck and swimming pool are planned to provide open space amenities for residents.

Etco Homes, which is headquartered in Beverly Hills, is currently in the midst of construction on numerous multifamily residential buildings in the neighboring Beverly Grove community. Four projects are now underway on Sweetzer and Croft Avenues, and a fifth is rising on Hamel Road.