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George Smith Partners has announced a $50-million construction loan for the conversion of a 258,000-square-foot, 13-story office tower near LAX into a dual-branded Hyatt hotel.

The property, located on Century Boulevard mid-block between Aviation Boulevard and Avion Drive, will be transformed into a 129-key Hyatt House and a 272-room Hyatt Place by developer 5959 LLC, an affiliate of California Real Estate Regional Center.

The new hotels will feature mid-century inspired designs, with high ceilings and amenities such as a rooftop bar, a swimming pool, restaurant space and a fitness center.

Completion of the Hyatt development is anticipated in 2019.

The project, which was arranged by George Smith Partners’ Vice President Zachary Streit, comes not long after the completion of a similar office-to-hotel conversion located nearby on Century Boulevard.

Image courtesy of George Smith Partners

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17 Small Lot Homes Coming to Atwater Village

The project replaces three existing houses.
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Calcagnie Group, an Irvine-based real estate development firm, has unveiled renderings for a new set of small lot homes in Atwater Village.

The project, slated for a 27,000-square-foot site at 3409-3421 Fletcher Drive, calls for the construction of 17 single-family residences.  The three-story houses would come in four different floor plans, ranging between 1,826 and 2,806 square feet in size.