lightstone

Lightstone, a national real estate investor/developer, has submitted a master land-use application to the City of Los Angeles.

Fig+Pico Conference Center Hotels would bring 1,100 hotel rooms to Downtown Los Angeles directly across the street from the Convention Center, and will bring substantial construction jobs as well as permanent hospitality and retail jobs to the South Park neighborhood.

“This milestone for the Fig+Pico Conference Center Hotels Project signifies the earnest start of its administrative review process, as well as Lightstone’s commitment to support the City of Los Angeles’ need for quality hotel rooms that will facilitate the Convention Center expansion,” said Mitchell Hochberg, president of Lightstone.

Attempting to address the need for hotels outlined in the City’s Convention Center expansion proposal, Lightstone’s proposal provides a project comprised of three different hotel brands geared to support a wider range of convention center guests and tourists looking for a more affordable price point adjacent to the Convention Center. The project would also be positioned next to the Metro Pico Station light rail to connect tourists and visitors with Santa Monica, Long Beach, USC, Universal Studios and the transit hubs of downtown Los Angeles.

The 1,100 hotel rooms would be located in two towers at the corner of S. Figueroa and W. Pico, and are being designed by architectural firm, Gensler. The hotels will have ground-floor retail fronting on S. Figueroa, W. Pico and Flower Street, a sky lobby, three pools, bars, restaurants, lounges and event space, all supporting the hotel guests and outside visitors. The hotels will also be supported by a six-story parking facility located at the base of the hotels for guest and event parking.

The Fig+Pico Conference Center Hotels Project would mark Lightstone’s first project in Los Angeles.  The company, which currently operates in 21 states, including California, recently opened an office in Downtown and is considering other projects throughout the Los Angeles area.

Source: Hotel Business – Read More:

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