The partnership behind the proposed dual-tower Angels Landing development in Downtown Los Angeles’ Bunker Hill neighborhood has advanced its plans for the project with hopes for its completion by the 2028 Summer Olympic Games in LA.
The joint venture Angels Landing Partners LLC, comprised by The Peebles Corporation, MacFarlane Partners, and Claridge Properties, submitted a vesting tentative tract map request for the hotel, residential, and retail project in December, according to a planning case opened by the city this week.
In a press release last month, the joint venture said it was “doubling-down” on its efforts to bring the $2 billion project to fruition.
“Their partnership’s intentions are firmly focused on completing construction of Angels Landing before elite athletes, sports officials and tourists worldwide converge in L.A. for the 2028 Olympic Summer Games,” the release read.
Selected by the city in 2017 after a competitive bidding process to develop the DTLA site, which includes Angel’s Knoll, The Peebles Corporation and company have changed their plans for the project in the meantime. It originally was designed to feature 88-story and 24-story towers, but now plans call for 63-story and 42-story buildings at the Bunker Hill property, with the taller building planned to rise about 854 feet.
The latest plans call for up to 1.27 million square feet of new development featuring 515 hotel guest rooms, 180 for-sale condos, 252 for-rent apartments, and 72,091 square feet of retail and restaurant uses. Plans also show that 13 units, or about five percent of the project total, will be set aside as affordable.
Planned to rise next to the Angel’s Flight funicular railway, the project, which is designed by New York-based Handel Architects, would also include Angels Landing Plaza, a multi-level, publicly accessible privately managed urban park.
The site as a whole includes 326 – 358 S. Olive St., 351 – 361 S. Hill St., and 417 – 425 W. 4th St.
In September, Angels Landing Partners announced that that analysis by New York City-based BJH Advisors concluded that the project would boost LA’s economy by $1.6 billion and create 8,300 jobs during design and construction. Since then, the development’s draft environmental impact report has also been released.
The project still needs to receive approvals from planning officials, which the joint venture says it expects to happen later this year.
“We have spent more than $10 million to move our project forward,” MacFarlane Partners Chairman and CEO Victor MacFarlane said in a statement last month.
“We’re not letting the coronavirus pandemic slow us down. We anticipate our project entitlement this year.”
