A tower crane has risen at the corner of 4th Street and Broadway, as the 35-story Perla development begins its vertical climb near Grand Central Market.

The project, which comes from developer SCG America, will feature 450 for-sale condominiums ranging between 400 and 1,300 square feet in size. Plans also call for 7,000 square feet of retail space and a dedicated parking garage.

Perla, which is being designed by CallisonRTKL, is billed as the first high-rise development to rise within the Historic Core in more than 100 years. It is designed to mesh with its older surroundings through a mid-rise podium which matches Broadway's existing street wall.

The design team also includes Hirsh Bedner Associates, which has crafted an Art Deco look for the tower's common spaces.

Completion of Perla is expected in 2020.

Additional towers are set to rise one block west at 4th and Hill Street, where Equity Residential hopes to build an apartment tower on a current parking lot and a 960-foot building is proposed for the grassy Angels Landing site.

Other nearby developments include a Cambria Hotel, now under construction on Spring Street, and a proposed CitizenM hotel.