As the hotel industry recovers from the dramatic slow-down in tourism resulting from the global pandemic, real estate investment firm Lightstone has reached a key milestone at a new Convention Center-adjacent-complex in Downtown.
As of this month, construction has topped out at the dual-branded Moxy Los Angeles Downtown and AC Hotel Los Angeles Downtown, which will occupy a 37-story tower at the northeast corner of Figueroa Street and Pico Boulevard. The 600,000-square-foot, 727-key development will be split between a 380-room Moxy and a 347-room AC Hotel.
“[The] topping out represents an exciting milestone for our growing hospitality portfolio and we are thrilled to bring the Moxy and AC Hotel brands to Downtown L.A. on the heels of successful openings in New York City and Miami,” said Lightstone president Mitchell Hochberg in a news release. “Offering two unique experiences at one address, coupled with an unparalleled slate of shared programming, we are confident both brands will resonate with visitors to the Convention Center and Staples Center and locals alike.”
Designed by Gensler the tower will also include 65,000 square feet of meeting space, restaurants, bars, and other gathering spaces. A podium structure containing 300 parking spaces (and wrapped in 22,000 square feet of digital signage) will be capped by a landscaped pool deck. Plans also call for a sky lobby with a bar on the 34th floor of the tower.
Completion of the tower is expected by late 2022.
The AC and Moxy hotels represent the first phase of the larger Fig + Pico development that will encompass an adjoining parking lot at Pico and Flower Street. Lightstone has received approvals to build a smaller 27-story tower containing 378 guest rooms, which has previously been slated for a Hilton Garden Inn.
Other large hotels planned near the Convention Center include a 37-story tower slated for a site a few blocks west on Pico, and a proposed 861-room expansion of the J.W. Marriott at L.A. Live.
In its hometown of New York, Lightstone is also developing two additional Moxy hotels in Brooklyn and Manhattan. Both are also expected to open in 2022.
- Fig + Pico (Urbanize LA)