Three years after securing the rights to Bunker Hill's coveted Y-1 parcel, a trio of minority-led development firms is taking another step forward with plans for a $2-billion skyscraper complex on the property.

The Angels Landing development - a joint venture between MacFarlane Partners, Peebles Corporation, and Claridge Properties - calls for the construction of two high-rise buildings above an entrance to the Pershing Square subway station at 4th and Hill Streets.  The project would include:

  • 180 for-sale condominiums;
  • 252 rental apartments (including 13 affordable units);
  • two hotels containing 515 guest rooms, ballrooms, and conference space;
  • 72,000 square feet of retail and restaurant space; and
  • 750 parking stalls on three subterranean levels.

At the time the project was announced in 2017, SBE Entertainment was slated to operate the two hotels under its SLS and Mondrian brands.

Earlier plans for a 39,000-square-foot space for an elementary school are no longer mentioned as part of the development.

Handel Architects and Olin are designing Angels Landing, which would include towers rising 64 and 42 stories in height.  A series of landscaped terrace decks would sit between the buildings, connecting the project's commercial uses to the neighboring Metro station on Hill Street, as well as California Plaza and the Angels Flight funicular railway.

Construction of Angels Landing, according to a draft environmental study released this month by the Department of City Planning, is expected to occur over a roughly four-year period concluding in mid-2026.  That schedule is contingent on the approval of discretionary entitlements by the City of Los Angeles.

A financial study commissioned by the development team indicates that the project's construction would infuse $1.6 billion to the local economy, while generating 12 million in recurring tax revenue upon completion.  The project is expected to create 8,300 temporary jobs during construction, with operations afterward accounting for 800 new jobs.

Other developments planned in the surrounding blocks of Downtown Los Angeles include Equity Residential's proposed 31-story apartment tower next to Grand Central Market.

MacFarlane Partners, one of the members of the Angels Landing team, completed its Park Fifth development one block south in 2020, replacing a parking lot adjacent to Pershing Square with 660 apartments and retail space.