AEG Worldwide Plans Mixed-Use Tower Near LA Live

Entertainment giant AEG Worldwide pulled back the curtain on the latest plans for a mixed-use tower on a surface parking lot in Downtown Los Angeles.

The company, also known as Anschutz Entertainment Group, submitted an application to build a 49-story residential and hotel building in downtown Los Angeles, Urbanize Los Angeles reported.

The property, at 917-931 West Olympic Boulevard and 920-948 South Georgia Street, is poised for a 49-story tower rising 631 feet. The building would feature a 334-room hotel and 364 residential units on the upper floors. A restaurant, bar, pool, meeting rooms, club room, fitness center, ballroom and a 112,600-square-foot entertainment venue are also planned.

It’s the latest in a string of efforts to build on sites near AEG’s L.A. Live.

Developer City Century once proposed building a multi-tower complex at 1001 West Olympic Boulevard; a few years later, separate plans for a slim high-rise at the corner of Olympic Boulevard and Figueroa Street were approved.

More than a decade ago, AEG planned to build a Renaissance Hotel at 917 Olympic Boulevard in partnership with Williams & Dame, and in 2016, it looked to build a 38-story expansion of the J.W. Marriott across the street. AEG abandoned the projects in subsequent years.

The latest push to build around L.A. Live comes after the City Council gave its blessing in September to the $2.6 billion expansion of the Los Angeles Convention Center south of the L.A. Live entertainment complex.

In 2021, AEG extended its lease with the Los Angeles Lakers at the L.A. Live-adjacent Crypto.com Arena through 2041 and committed to extensive renovations there. The deal included an agreement from AEG to spend nine figures to improve and update the arena, adding to AEG’s renovations at its other properties in the area.

— Chris Malone Méndez