The owners of a parking lot north of the L.A. Live complex plan to redevelop their property with a skyline-altering tower.

Earlier today, Glendale-based developer Regalian, LLC filed plans with the City of Los Angeles to construct a 66-story mixed-use project at 925 S. Figueroa Street. The approximately 1.88-acre site, located next-door to the Hotel Figueroa, would yield 200 condominiums, a 220-room hotel, 94,000 square feet of commercial space and a 617-car garage.

The project is located in a booming section of South Park, where numerous property owners have explored more ambitious uses for currently underutilized sites surrounding Staples Center.

On the opposite side of the Hotel Figueroa, prominent Downtown landlord Ben Neman has planned a similar 59-story tower fronting Olympic Boulevard.

West towards the Harbor Freeway, developer City Century recently announced plans for a three-tower complex.