UPDATED, Friday, February 9, 2017, 10:00 a.m.: Add another name to the flurry of hotel construction happening in Los Angeles.
The Amsterdam-based citizenM hotel chain is expanding into Downtown Los Angeles, after the company paid $13.5 million for a 20,000-square-foot parking lot on the corner of 4th and Spring streets, the Los Angeles Business Journal reported. The seller was Pasadena-based System Property Development Co.
BLVD Hospitality will develop the 11-story building. The HLW International-designed project will include 315 guest rooms and 81 parking spaces. In what is citizenM’s style, murals will be painted on all sides of the building.
Michael Condon Jr. of Cushman and Wakefield represented the buyer.
The Downtown location would be the second L.A. outpost for the hotel chain. The company is also planning a 14-story hotel at 1718 Vine Street in Hollywood. It’s slated to include 216 rooms, a workspace, bar, fitness center and outdoor deck. That project is currently in predevelopment and design stages.
Other citizenM locations are in New York, San Francisco, Seattle, Paris, Shanghai and Copenhagen, Denmark.
Hotel construction is on the rise in L.A. In the next few years, there will be an additional 10,000 guest rooms, according to a report from Atlas Hospitality Group. That figure is a conservative estimate, considering developers have laid out plans to deliver 33,500 rooms in the next few years.
Most recently in DTLA, Mexico City-based Grupo Habita filed plans for a 66-key boutique hotel near the Arts District. If approved, it would would join Wyndham Hotels & Resorts’ Trademark Hotel planned for 1543 West Olympic Boulevard and City Century’s proposed massive three-tower Olympia project in the South Park. [LABJ] — Natalie Hoberman