A large property located on the west side of the Harbor Freeway could be the site of the next Convention Center hotel.
Through a motion introduced last week, 1st District Councilmember Gil Cedillo is looking to initiate general plan amendment and zone change proceedings for a 2.59-acre site located at 1330 W. Pico Boulevard and 1308-1346 S. Albany Street. The property and adjoining parcels of land "have the potential to attract private investment to develop large hotel projects that can stimulate Convention CEnter growth" and other economic benefits, according to Cedillo.
The proposed discretionary approvals would allow for a 6:1 floor area ratio across the property, as well as the creation of a sign district.
The property, which is currently improved with a 152,000-square-foot warehouse, was purchased last year by local developer Sandstone Properties Inc. for $42 million.
A hotel on the property would put the City of Los Angeles closer to its goal of 8,000 hotel rooms open or under construction within walking distance of the Convention Center by 2020. A recent study found that there are currently 4,637 rooms open and 717 under construction as of late 2017.
The property at Pico and Albany is located directly across the freeway from the Convention Center, and less than a half-mile from its main entrance on Figueroa Street. Pico Union could also play host to another Convention Hotel on Olympic Boulevard, where a 1960s office building is set for conversion to a Trademark Hotel - a Wyndham Hotel Group brand.
Another proposed hotel development - featuring more than 1,100 guest rooms - was recently approved to replace a City-owned parking lot at the corner of Pico and Figueroa.
Cedillo's motion is scheduled for consideration at the City Council meeting on June 6.
- Pico Union Archive (Urbanize LA)