Los Angeles, CA Sign Company 40-Story Hotel Planned Next to Los Angeles Convention Center
Los Angeles, CA Sign Company flip-flops between two potential paths to transformation (the colorful renovation plan chosen after a high-profile redesign competition OR the big mixed-use redevelopment vision that would be handled by private developer), development surrounding the site in South Park carries on. As a separate piece of the LA Convention Center plan, the city wants to work with a private developer to create an adjacent hotel.
"California Sign Interiors LLC is a Los Angeles, CA Sign Company that will be working to provide signage for this project "
Earlier this week, we heard about the beginnings of the plan, a dual-tower hotel that would rise on a parking lot at the corner of Figueroa and Pico; the developer was left anonymous for some reason in the city docs. Now, via a release from that developer—New York-based real estate investor and developer Lightstone—we have a lot more info.
The Fig + Pico hotel, as the project's referred to in the release, would be made up of two towers—one 40 stories tall and one 28 stories. Between the two, there would be approximately 1,100 hotel rooms, plus meeting spaces and amenities (sky lobbies have been mentioned); at streel level, the new development would have 20,000 square feet of retail space. Fig + Pico will be designed by Gensler with designers Yabu Pushelberg. This hotel would be Lightstone's first LA project.
"Los Angeles, CA Sign Company - CA Sign Interiors"
Last week, the City Council's Economic Development Committee approved a proposal from City Administrative Officer Miguel Santana that would send the city down an entirely new path to redevelop a much more extensive LA Convention Center campus in a public-private partnership (aka P3), where LA would essentially hand over the project to a private developer to do its thing. The city will probably end up considering both options now and making a final decision in June on whether to go ahead with the HMC/Populous plan or tear it up and start over.
Santana's proposal suggests "a re-imagined integrated urban development project [that] would provide the City with a convention, hospitality, and mixed-use district on the existing LACC campus, where an additional 9 to 14 acres of developable mixed-use real estate and other private revenue enhancements (e.g. signage and naming rights) enable the expansion to be privately financed and significantly reduce the project's reliance on the City's General Fund."
Arup, a consulting firm the city hired to report on the public-private partnership potential, "raises several risk factors associated with" the HMC/Populous plan, which only renovates the convention center's West Hall instead of replacing it; they say that "the possibility of latent defects is extremely high" and that the idea to raise the West Hall's floor to be more in line with the new South Hall will make the ceilings too low to be functional/marketable.