Downtown-based sports and entertainment giant AEG is planning a new hotel near Staples Center and LA Live.
The project, according an application submitted to the Los Angeles Department of City Planning, would replace a surface parking at 11th Street and Grand Avenue with a 13-story building containing 160 hotel rooms above a subterranean parking for 75 vehicles. Plans also call for ground-floor restaurant space, conference rooms, and a rooftop pool and bar.
Requested entitlements for the project include a transfer of floor area rights to allow for a roughly 111,000 square feet of new construction, as well as a master conditional use permit for alcohol sales.
AEG acquired the parking lot in 2016 as part of its $48.5
AEG acquired the project site in 2016 as part of its $48.5 million purchase of the neighboring Desmond building, where the company's live entertainment division has been headquartered since 2014. L.A. County Assessor's records show that AEG sold the 102-year-old former warehouse to Dallas-based Invesco for $63.2 million in 2018, but retained ownership of the adjacent parking lot.
The proposed hotel is the latest in a series of high-rise projects pitched for 11th Street, which was recently the subject of streetscape improvements through the MyFigueroa project.
Across Grand Avenue, developer Trumark Urban completed the 20-story Ten50 condo tower in early 2017.
At Hill Street, Australian developer Crown Group recently announced plans for a 43-story high-rise featuring condominiums and a hotel.
Other Downtown developments from AEG include a proposed expansion of the J.W. Marriott hotel complex adjacent to the Los Angeles Convention Center, which the company also manages.
- Downtown (Urbanize LA)