The Chinese takeover of DTLA continues: the Shenzhen Hazens Real Estate Group Company bought the Luxe City Center Hotel in South Park, along with two nearby parcels which it plans to build "condos and an office tower" on, Wall Street Journal reports. Even though the Luxe recently underwent a makeover to convert it from a Holiday Inn to something a bit more glamorous, it's likely the Chinese developer intends to tear it down and build a bigger and better hotel. That's sort of a relief, since the Luxe remains fortress-like and interacts poorly with Figueroa and LA Live. This new project will sit north of similar mega-developments like Fig Central and 1200 Fig.
· Shenzhen Hazens Loves LA [WSJ]
· South Park Megaproject Fig Central Is Back From The Dead [Curbed LA]
· Renderings Revealed For Huge Staples-Adjacent Towers [Curbed LA]