The asphalt-covered Park Fifth site at 5th and Olive streets once held Philharmonic Auditorium. (Bryan Chan / Los Angeles Times)

One of the most prominent lots in Los Angeles, vacant for nearly three decades, is getting a new occupant.A San Francisco development firm has filed plans to build a high-rise apartment building facing historic Pershing Square in the heart of downtown Los Angeles.

The long-anticipated Park Fifth development would fill in a big missing piece on the checkerboard of downtown's renaissance and may lead to changes in the public square, which dates to the 1800s and was once known as Central Park.The asphalt-covered Park Fifth site at 5th and Olive streets formerly held Philharmonic Auditorium, one of the city's most prestigious performing-arts venues and home of the L.A. Philharmonic orchestra for more than four decades.....Continue Reading

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