AEG To Expand L.A. Live District With New Hotel
Photo courtesy of Gavin Heffernan
AEG plans to build a 755-room expansion of JW Marriott L.A. Live in Downtown Los Angeles, the entertainment company announced on Thursday.
The 38-story tower will occupy a 60,000-square-foot site adjacent to JW Marriott L.A. Live and the adjoining Ritz-Carlton, Los Angeles. All together, the three properties will contain 1,756 rooms and 200,000 square feet of meeting and event space, making it the second-largest hotel in California.
The $500 million project, which is scheduled to begin in late 2015 or early 2016 and be completed in 2018, is yet another addition to the 4-million-square-foot, $3-billion L.A. Live sports, entertainment and hospitality district in Downtown Los Angeles, further transforming an area that was boosted by the introduction of Staples Center in 1999 and—most recently—with the unveiling of Courtyard by Marriott/Residence Inn L.A. Live in July 2014. It is projected to create more than 3,500 construction-related jobs and more than 500 full-time and part-time jobs when the tower opens.
“AEG’s continued investment in our downtown will further the momentum created by the development of Staples Center and L.A. Live,” said Herb Wesson, president of the Los Angeles City Council, via a release. “The continuation of this enormously successful public-private partnership will signal the launch of the much anticipated renovation of the Convention Center while furthering Los Angeles’ international reputation and prominence.”
The new tower, located on the northeast corner of Olympic Blvd. and Georgia St., will be connected to JW Marriott L.A. Live and The Ritz-Carlton, Los Angeles via a bridge across Olympic Blvd. The project will also include two levels of parking and retail space, as well as a second-floor deck that features a restaurant, a bar and lounge, a fitness center and an executive lounge and pool area with cabanas. All together, the building site will take up about 650,000 square feet.
AEG will also add about 75,000 square feet of meeting and event space to the existing West Parking Garage “Event Deck.” It will be connected to existing 100,000 square feet of function space at the north end of the Event Deck via two short bridges.
“When combined with all of the current offerings of L.A. LIVE, this new development will truly elevate the campus to become one of the preeminent meeting and convention destinations in the world,” said Ernest Wooden Jr., president & CEO of Los Angeles Tourism & Convention Board. “Additional hotel inventory, especially around the Convention Center, is critically important to our ability to attract larger conventions and this 755-room expansion is a positive step forward to help ensure our inventory remains competitive."
As part of the L.A. Live district, the new hotel will offer guests access to a number of attractions and venues, including Staples Center, the Convention Center, Nokia Theatre L.A. Live, the Grammy Museum, Regal Cinemas, Lucky Strike Lanes & Lounge and 19 restaurants.
“AEG’s investment in Staples Center and L.A. Live has generated substantial economic activity in the area benefitting both the public and private sector,” said Ted Fikre, vice chairman, AEG. “Our ongoing commitment to downtown as evidenced by this expansion of our convention headquarters hotel represents another major milestone in the continued build-out of the campus making this a favored destination for both the people of Los Angeles and tens of millions of annual visitors.”
“Since our hotels opened their doors five years ago we’ve attracted significant business to the city, and seen tremendous growth in conventions not only within our hotels but across downtown Los Angeles,” added Javier Cano, vice president and market general manager of The Ritz-Carlton, Los Angeles and JW Marriott Los Angeles L.A. Live. “We expect that the expansion of the JW Marriott will continue to build L.A. Live as a premier meetings and conference destination on the west coast, bringing a wealth of new opportunity to the city.”
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