Luxury hotelier Park Hyatt has signed up to be a part of the Oceanwide Plaza, $1 billion, 1,488,101-square foot, mixed-use development in Downtown Los Angeles. (Courtesy Oceanwide Real Estate Group)
Luxury hotelier Park Hyatt announced this week that it has signed up to be a part of Oceanwide Plaza, $1 billion, 1,488,101-square foot, mixed-use development inDowntown Los Angeles. The development would mark the brand’s first Los Angeles location.
It is unclear whether the Park Hyatt addition will change the project’s fundamental details, but previously-filed plans for Oceanwide Plaza detail the inclusion of 504 condominium units, 153,000-square feet of retail space, and a hotel with 183 guest rooms.
The project is being designed by CallisonRTKL and will be contained within a trio of high-rise towers positioned above a mid-rise retail podium outfitted as an indoor-outdoor “galleria”-style mall. A large tower, with a long exposure oriented toward the south, will contain the hotel component while two shorter, east-west oriented towers will contain the condominium units. The podium will be crisscrossed with interior paseos connecting opposing sides of the development site and is to be wrapped in a 32,000-square foot LED ribbon wall that will create a massive, splashy cornice line backing these proposed retail areas. The project will be located at the center of the ever-growing L.A. Live / Staples Center development area that includes the Los Angeles Convention Center, the partially-completed Metropolis complex, as well as many other in-process or upcoming condominium and apartment projects connected by access to Los Angeles’s Blue and Expo light rail transit lines.
Located on a 4.6-acre site between 11th and 12th Streets on Figueroa, Oceanwide Plaza broke ground in late 2015 and its construction has necessitated one of the largest concrete mat pours in Los Angeles history, with crews for the construction firm Lendlease pouring an estimated 25,900 cubic yards of concrete and six million pounds of rebar for the complex’s massive foundations earlier this year.
The project is expected to be completed by the end of 2018 and will be open to habitation in early 2019. News of the Park Hyatt hotel development was first reportedby the Wall Street Journal.