Angels Landing Developers Secure Entitlements

The planned $1.6 billion, dual-tower development would rise in Bunker Hill
AngelsLandingRendering1
Rendering: Official

The Los Angeles planning department has given entitlements for plans by developers MacFarlane Partners and The Peebles Corporation to construct Angels Landing, a planned $1.6 billion, dual-tower mixed-use project in the DTLA neighborhood of Bunker Hill, the companies announced on Monday.

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Designed by Handel Architects, project plans call for condominiums, apartments, retail, restaurants, and two luxury hotels split between a 63-story building and 42-story building at Angels Knoll, a site just north of the intersection of West 4th and South Olive Streets. The project will also include Angels Landing Plaza, a new publicly accessible and privately managed park.

This month’s progress puts the proposed project one step closer to completion by the 2028 Summer Olympic Games in LA, a goal emphasized by the development team about one year ago. The joint venture’s plans for the Bunker Hill site were first moved forward in 2017, when it was selected by the city after a competitive bidding process. The developers initially had plans for the proposed development’s towers to rise 88 and 24 stories.

As of last year, plans called for up to 1.27 million square feet of new development, including 515 hotel rooms, 180 for-sale condo units, 252 for-rent apartments, and about 72,000 square feet of retail and restaurant uses, with 13 units, or about five percent of the project total, set aside at below market rate for lower-income households.

This month’s announcement lists an estimated development cost for Angels Landing of $1.6 billion rather than the $2 billion listed initially.

The joint venture said it has committed to contracting with 30-percent minority and women-owned businesses for the project in deals of more than $480 million in value.

“With Angels Landing will come desired levels of diversity and inclusion to L.A.’s hospitality industry and the expansive services sector that supports the local hotel industry,” MacFarlane Partners President and CEO Victor MacFarlane said in a statement. “It’s about time the economic benefits generated by massive projects like this are provided to people who are reflective of the project,” he said.

The Angels Landing plans have received support from groups including the Greater Los Angeles African American Chamber of Commerce and UNITE HERE! Local 11, which represents more than 32,000 hotel, restaurant, airport, sports arena, and convention center workers in Southern California.

“The city needs projects like Angels Landing to remain competitive with other cities vying for increased tourism and convention business, and we strongly support its development as an important new contributor to these industries,” GLAAACC Chairman Gene Hale said in a statement.

“Furthermore, we’re excited to see the commitment to equity and inclusion through minority-owned and women-owned business procurement and equally high level of diversity in the workforce that will manage and operate its luxury hotels.”

Claridge Properties is also involved in the joint venture leading the project, which is named Angels Landing Partners LLC.

A project website shows that developers expect construction at Angels Knoll to begin by 2024.

Dean Boerner

Dean Boerner

Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. He received his bachelor's degree in economics and business from Saint Mary's College of California, where he also served as the editor-in-chief of The Collegian, the school's campus newspaper. Before that, he spent two years as the publication's sports editor, and he remains a committed fan, for better or worse, of his Sacramento Kings, San Francisco Giants, and Saint Mary's Gaels.
Dean Boerner

Dean Boerner

Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. He received his bachelor's degree in economics and business from Saint Mary's College of California, where he also served as the editor-in-chief of The Collegian, the school's campus newspaper. Before that, he spent two years as the publication's sports editor, and he remains a committed fan, for better or worse, of his Sacramento Kings, San Francisco Giants, and Saint Mary's Gaels.

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