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"Condo-Style Hotel" Proposed for Koreatown

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The Ambassador Hotel may be gone, but meet Artcite I. Interesting name. Plans were submitted to the city this week for a "condominium-style hotel development" to be built at New Hampshire and West 7th (current site of a parking lot). The plans call for a 23-story hotel with 226 suite-style guest rooms, ground floor retail, a restaurant, a fitness center, and 318 parking spaces, mostly above-grade on the second through eighth floors. If approved, construction is slated to start in the first quarter of 2010, with completion planned for first quarter 2013. The developer named is an entity called Newkoa, LLC, which may or may not be affiliated with Los Angeles-based real estate investment firm Art Nouveau.
· Former Ambassador Hotel Site In Rendered Glory [Curbed LA]