The Real Deal Los Angeles

Hooters owner may be behind 1,000-key hotel proposal near Convention Center

South Park site spans two parcels, one owned by developer Mayer Separzadeh
February 22, 2016 01:23PM

Hooters Los Angeles

The property at 1248 South Figueroa Street

Update: The developer with the proposal has been announced as Lightstone, a national real estate investor and developer. Read more here

A new proposal for two high-rise towers would bring approximately 1,000 hotel rooms to a parking lot on Pico Boulevard between Figueroa and Flower Streets in South Park, Urbanize reports.   

The Real Deal’s sources said the unidentified developer could be Mayer Separzadeh, who has previously pitched hotel development plans on the site, which consists of two parcels, one of which he already owns. 

Separzadeh owns the property at 1248 South Figueroa Street which now houses a Hooters restaurant. The other parcel is owned by the City of Los Angeles, which has long been jonesing to redevelop it into a hotel property.

The city attempted to do so in 2012, issuing a request for proposals for hotel properties. Sources said Separzadeh was interested then. However, the suspicion that the developer is taking another stab at the site is unconfirmed. Separzadeh could not be reached for comment.

Identity aside, the developer attached to the proposal is seeking incentives like those given to megaprojects like Metropolis and the Wilshire Grand.

The city has accepted a $150,000 payment from the developer to fund an independent economic feasibility analysis of the project.

The proposal comes as the city works on its goal of increasing the number of hotel rooms within walking distance of the Convention Center from 3,172 to 8,000 so it can better compete with rival convention centers in San Diego and Anaheim. [ULA]Hannah Miet