The project, which is being developed by the New York-based Lightstone Group, would rise from an approximately 1.15-acre site fronting Pico Boulevard, Figueroa and Flower Streets. According to plans filed with the City of Los Angeles, the project would include a total of 1,100 guest rooms, which would be operated under three different hotel brands.
Designed by a team consisting of architecture firm Gensler and Yabu Pushelberg Studios, the proposed development is envisioned as a "hip, modern, amenity-rich destination for today's modern travelers." A preliminary rendering portrays towers of 40 and 28 stories, seated above six levels of parking, approximately 20,000 square feet of commercial space and guest amenities.
The proposed development comes on the heels of the city's ambitious plan for a $350-million expansion of the Los Angeles Convention Center, which is located directly across the street. Other projects underway in the near vicinity include the Circa and Oceanwide Plaza developments.
Construction of Fig + Pico is expected to commence in 2017, contingent on a transient occupancy tax rebate from the city. Other projects featuring hotels such as Metropolis and the Wilshire Grand redevelopment have received similar incentives.
- Convention Center Demand Sparks Plans for 1,100-Room Hotel (L.A. Business Journal)
- Details Emerge for New Convention Center Hotel (Urbanize LA)