For more than a decade, the owners of a property 1130 S. Hope Street in Downtown have sought to build a hotel.
The most recent application, filed in 2020 called for the construction of an 11-story building on a site once improved with an early 20th century brick building, which sits vacant among a neighorhood of modern high-rise towers. While the likelihood of that plan coming to fruition had seemed to fade along with Downtown’s pre-pandemic real estate boom, the project is unexpectedly showing signs of life.
1130 S Hope StreetGoogle Street View
On January 27, [14th District Councilmember Ysabel Jurado introduced a motion](https://cityclerk.lacity.org/lacityclerkconnect/index.cfm?fa=ccfi.viewrecord…
For more than a decade, the owners of a property 1130 S. Hope Street in Downtown have sought to build a hotel.
The most recent application, filed in 2020 called for the construction of an 11-story building on a site once improved with an early 20th century brick building, which sits vacant among a neighorhood of modern high-rise towers. While the likelihood of that plan coming to fruition had seemed to fade along with Downtown’s pre-pandemic real estate boom, the project is unexpectedly showing signs of life.
1130 S Hope StreetGoogle Street View
On January 27, 14th District Councilmember Ysabel Jurado introduced a motion indicating that CFP3 Hope Street, LLC, an entity linked to the Minnesota-based non-profit Community Facility Public Private Partnerships, is seeking upwards of $85 million in state bond financing to build the project. The motion describes the revised plan as consisting of an 11-story building with 112 guest rooms above retail space.
The City of Los Angeles is required to review and approve requests for such projects, although no City funding would be used to build the hotel.
The impetus for the request would appear to be the $2.6 billion expansion of the Los Angeles Convention Center, which began work late last year. The project will expand the footprint of the Convention Center by adding a new structure bridging across Pico Boulevard.
1130 S Hope StreetGoogle Maps
Besides a relative lack of exhibition space, City officials have also attributed struggles of the Convention Center to a relative lack of hotel rooms in close proximity to the facility. After the groundbreaking for the expansion, City officials pointed out that there were approved but unbuilt projects accounting for upwards of 4,000 hotel rooms located near the Convention Center which could be revived.
Jurado’s motion has been referred to the City Council for consideration at a future meeting.
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- Downtown (Urbanize LA)