JV to Build $1.2B Angels Landing High-Rises
- Dec 28, 2017
The City Council of Los Angeles has selected Angels Landing Partners LLC to manage development of the Angels Landing site in Downtown. Peebles Corp., MacFarlane Partners and Claridge Properties teamed up for the complex project with an estimated total budget of $1.2 billion. Handel Architects designed the two towers—one will rise 88 stories and the other 24 stories. The high-rises are expected to be among the tallest in all of the western U.S.
“Our team is inspired by the opportunity to transform the L.A. skyline with our iconic building, enhance residential life and change how large buildings are constructed by ensuring all residents and businesses receive equal access to career and business opportunities,” said Don Peebles, Chairman and CEO of the Peebles Corp., in prepared remarks.
Full completion in 2024
The downtown L.A. investment project comprises 425 apartments, including affordable units, 250 condominiums and two hotels—a 192-key SLS and a 289-key Mondrian—operated by sbe. The two towers will also offer roughly 45,000 square feet of restaurant/retail space, a food hall incorporating local businesses and 50,000 square feet of publicly accessible open space designed by OLIN’s landscape architects. This encompasses the 25,000-square foot Angel Terrace outdoor area. Angels Landing will also feature an elementary charter school.
The 2.2-acre site is located at the intersection of Fourth and Hill streets and was previously occupied by Angels Knoll Park. Construction is scheduled in several phases expected to run for 41 months. Full completion is slated by late 2024.
The public space was maintained by the Community Redevelopment Agency until 2012, when the organization was dissolved. Then, the lot was fenced off for several years before the City started looking for a developer.
“Having invested in downtown Los Angeles for the past 15 years, we are firm believers in DTLA,” Victor MacFarlane, chairman & CEO of MacFarlane Partners, said in prepared remarks.
Images courtesy of Handel Architects