Developer files plan for 168-key Marriott in Exposition Park

Orion Capital will build the hotel near USC’s main campus, in what has become a choice area for investors

TRD LOS ANGELES /
Jan.January 09, 2020 08:00 AM
Marriott CEO Arne Sorenson and an aerial of the property (Credit: Google Maps)
Marriott CEO Arne Sorenson and an aerial of the property (Credit: Google Maps)

A local investment firm this week filed plans to build a 168-key Courtyard Marriott hotel near the University of Southern California’s main campus in Exposition Park, as real estate investors increasingly turn to opportunities near college campuses.

Orion Capital — through its property management firm Orion Housing — filed plans for the construction at 3685 S. Vermont Ave., property records show. The filing with City Planning includes 4,300 square feet of ground-floor retail space, less than the 7,000 square feet originally proposed along with the hotel last year.

The 33,000-square-foot lot had once been earmarked by Los Angeles for a 114-unit affordable housing complex. When that plan fell through, the City Council in April approved the agreement with Orion Capital for the Marriott, on the former site of the Bethune Library. The property is along the western border of USC’s campus. That Council vote last spring came on the heels of a report from the Economic & Workforce Development Department, which recommended the city sell the vacant plot to the firm.

The final plan for the hotel shaves one room off of last year’s Council-approved proposal.


Related Articles

arrow_forward_ios
Lyric founders Andrew Kitchell and Joe Fraiman and a Lyric-managed unit in Houston

Startups and hospitality giants are embracing “apartment hotels”

Dual-branded hotel going up and up near SpaceX

Dual-branded hotel going up and up near SpaceX

Trump’s travel ban is hurting hotels: Marriott CEO

Trump’s travel ban is hurting hotels: Marriott CEO

Marriott, Starwood merger on hold pending Chinese review

Marriott, Starwood merger on hold pending Chinese review

Anbang ups Starwood offer to $14B

Anbang ups Starwood offer to $14B

Starwood accepts Anbang’s $13.2B takeover offer

Starwood accepts Anbang’s $13.2B takeover offer

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Welton Jordan of EAH Housing, and the block in South Park where the nonprofit development organization wants to build a 64-unit complex (Credit: Google Maps)

Two affordable housing projects will add 120 units to transformed South Park

arrow_forward_ios
Loading...