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LA Planning Commission Moves Lightstone Hotel Project Forward

Pico+Fig Development Would Bring 1,100 Hotel Rooms Within Walking Distance of Convention Center
March 8, 2018
Los Angeles planning officials have approved a project proposed by New York City based Lightstone Group that includes three hotel brands in two towers to be built across the street from the Los Angeles Convention Center.

The mixed-use project dubbed Fig+Pico would have more than 1,150 hotel rooms and 13,145 square feet of ground-floor retail or restaurant space, for a total of up to 506,682 square feet on a 1.2 acre site. The Los Angeles Planning Commission voted Thursday to approve the project, clearing the way for consideration by the City Council.

Two of the hotels totaling a combined 775 rooms with 11,000 square feet of retail and podium parking would be in a 38-story tower at South Figueroa Street and West Pico Boulevard. The other 27-story tower, at the corner of Pico and South Flower Street, would include 378 rooms and 2,145 square feet of retail.

A parking lot and 27,800-square-foot, two-story commercial building at Figueroa and Pico would be demolished to make way for the project. Gensler, working with landscape architectural firm AHBE, is the project’s architect.

Lightstone Group President Mitchell Hochberg told the commission that the development would help the city reach its goal of adding 8,000 hotel rooms within walking distance of the Convention Center, slated for a major expansion and renovation to be completed by 2022.

Shawn Kuk, representing Los Angeles City Councilman Jose Huizar, in whose district the project would be built, said Huizar supports the project because L.A. has a shortage of rooms within walking distance from the convention center. Kuk referred to it as a "great example of public-private partnership" that will bring more than 1,300 permanent jobs and 3,100 construction jobs, as well as $14 million in net new revenue for the city in its first year.

Lightstone is required to pay $1 million to the city in $100,000 increments for 10 years to support streetscape, graffiti removal and other projects. The commission also voted to include such conditions as a redesigned roof and a requirement that operators turn off outdoor music and supergraphic signage at midnight.

Lightstone has not named the hotel brands to be included in the proposed project. Terms of the potential financing and construction schedule were unavailable, and Lightstone and its representatives declined to comment.

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