Editor's note: This story was originally published on December 12. It has been updated throughout to reflect the latest information.
The Los Angeles City Council has unanimously approved a $1.2-billion plan from developers Claridge Properties, MacFarlane Partners, and The Peebles Corporation for the redevelopment of the Bunker Hill site now dubbed Angels Landing.
The project, designed by Handel Architects, would fill the site with an 88-story skyscraper and a 24-story tower. Filling up those high-rises would be 500 SLS and Mondrian hotel rooms, 250 condos, open space, shops and restaurants, and a charter elementary school.
With this project, "we're getting the Downtown we've always wanted, the Downtown that doesn't shut down at 5 p.m.," Councilmember Jose Huizar said at the council meeting today.
A recent report from the Chief Legislative Analyst, first spotted by Urbanize LA, was the first to recommend the developers; the choice was also approved by the economic development committee yesterday.
The developers, who’ve partnered for the project under the banner Angels Landing Partners LLC, were one of three teams vying for a chance to build on the city-controlled site, at the northwest corner of Fourth and Hill streets.
Angels Landing Partners’ project would also bring 400 apartments to the Angels Flight-adjacent site. Five percent—or 20 units—would be available to households making 80 to 120 percent of the area median income; that’s roughly $72,000 to $108,000 for a family of four.
Angels Landing Partners was the only prospective team to explicitly mention affordable housing in its plan.
Designed by landscape architecture firm Olin, the project’s open space would measure 54,000 square feet. The Pershing Square subway entrance on the corner would be surrounded by a plaza-type area that leads into the development.
The Chief Legislative Office took into consideration the development team, the project, the financial capabilities, and the plan for community outreach that each development proposal put forth.
The developers proposed a purchase price of $50 million for the site—a bit more than the property’s $45.7 million assessed value—though that could change. The agreement between the city and the CRA/LA says that the property has to sell for its “fair market value,” so the property will be assessed once more and that amount will be the new minimum purchase price for the site, the chief legislative analyst’s report says.
The project isn’t expected to be complete until 2024. Developers expect a two-year design period followed by 41 months of construction.