City officials pave the way for a 167-key Marriott to rise near USC

Orion Capital is slated to buy the site and develop the hotel

TRD LOS ANGELES /
Apr.April 17, 2019 04:00 PM
Marriott CEO Arne Sorenson and the University of South California (Credit: iStock) 

A hotel may soon stand where affordable housing was once planned.

On Tuesday, the Los Angeles City Council voted to advance a project that would bring a 167-room Courtyard Marriott hotel to a lot on the western border of the University of Southern California’s campus, Urbanize reported. Orion Capital, a local investment firm, would build the project.

In 2011, the city acquired the 33,000-square-foot site at 3685 South Vermont Avenue, formerly occupied by the Bethune Library, from the CRA/LA, a local agency with some authority over development.

City officials then began soliciting bids from developers who could build affordable housing on the site, which is in a rapidly gentrifying area. They struck a deal with an entity called NCNVision LLC, a joint venture between National CORE and Nvision Development Group, last May.

But the exclusive negotiation agreement expired before NCNVision’s plans to build 114 units could become a reality, and the property has remained empty since Bethune Library relocated more than a decade ago.

City Council’s vote to advance Orion’s proposal comes on the heels of a new report from the Economic & Workforce Development Department, which recommended the city sell the vacant plot to the firm. [Urbanize]Natalie Hoberman


Related Articles

arrow_forward_ios
Gavin Newsom (Credit: Emma McIntyre/Getty Images)

Homeless COVID-19 patients could save California’s hotel owners

Thousands of CA hotel workers have been laid off

Expedited layoffs mean thousands of hotel job cuts

From left: Neil Shekhter and Governor Gavin Newsom (Credit: Kevin Scanlon, Justin Sullivan/Getty Images, and iStock)

Tenant group calls for CA rent strike

Ventus Group President Scott Gale and a rendering of the Fig

Ventus Group unveils new plan for controversial Fig project

Blackstone-owned Homewood Suites by SF airport (Credit: Hilton and iStock)

Blackstone sues over scotched $265M hotel deal

Andre Balazs and the Chateau Marmont (Credit: David M. Benett/Dave Benett/Getty Images for Michael Kors)

Luxury hotels are laying off workers and providing them few benefits

Los Angeles Mayor Eric Garcetti is looking for large spaces to house COVID-19 patients (Credit: Emily Shur/Wikipedia and Raymond Boyd/Getty Images)

Garcetti: LA will use hotels, theaters and sports venues to house COVID-19 patients

Skid Row Housing Trust CEO Lee Raagas and a rendering of the project (Credit: Michael Maltzan Architecture via Urbanize)

Skid Row Housing Trust, Michael Maltzan Architecture plan mass-timber housing tower

arrow_forward_ios
Loading...