Downtown LA’s crane-dotted skyline is a reminder that construction is flourishing. One under-construction complex near the Staples Center, at 12th and Figueroa, will bring two 35-story towers containing 648 luxury rentals to the South Park neighborhood.

Formerly known as 1200 Fig but now called Circa, the Harley Ellis Devereaux-designed project includes the two towers, which will sit on a seven-story podium with numerous resident amenities, and 48,000 square feet of ground-floor retail space. The space is expected to house three restaurants and as many as four retail stores.

The podiums will feature about 17,000 square feet of digital signs, an increasingly common feature on South Park towers with retail. If that sounds a little like New York’s Times Square, well ...

“We are creating something that will rival Times Square, change the LA skyline and become a magnet in the downtown area,” said Scott Dobbins, president of Hankey Investment Company.

Hankey is one of four “investment entities” that makes up Circa 1200 LLC. Another is prominent corporate landlord, Jamison Services.

High-end housing in the towers will be a mix of one- and two-bedroom apartments, plus penthouses, ranging from 700 to 3,800 square feet. Rents are expected to start at $3,000 a month and go up to $20,000 a month. The oval shape of the towers is intended to “create maximum view corridors for every unit.” Interior architecture for the project is by Hanson LA.

The $500 million complex is anticipating move-ins in early 2018.