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Downtown LA to Get Another Hip Hotel, The Freehand

July 21, 2014 at 11:30 AM | by | Comments (0)

We're loving Downtown LA these days and so are hotels. On the heels of an Ace Hotel opening with its excellent historic theater and a new hybrid Residence Inn/Courtyard by Marriott Hotel comes news that Freehand Hotels/Hostels will open in DTLA in 2016.

The LA Times reports that the site of the Freehand Hotel will be the 13-story Commercial Exchange Building at 8th and Olive streets. The former office building, built in 1924 and once home to Edgar Rice Burrough's publishing company, was recently purchasedby the Sydell Group Ltd, the same company who did the awesome Ace Hotel in New York and (see clarification below) the excellent Line Hotel in LA's Koreatown. The LA Freehand, like the original in Miami and the upcoming one in Chicago, will be developed in partnership with Yucaipa Cos., Ron Burkle's investment company.

The hotel will have 200 rooms that will be a mix of regular rooms and shared rooms that can fit up to six beds a mix of conventional guest rooms and larger rooms with as many as six beds. Most exciting, the hotel is planning a rooftop bar, along with a happening lobby lounge, a bar and restaurant and some retail stores at street level. However, the neon Commercial Exchange sign that runs the length of the building will remain. How very "Jesus Saves" of them.

The location is convenient too. Already, there's a Whole Foods being built across the street from the Freehand and its within walking distance to LA Live. And since this neighborhood is experience a rebirth, new stores, residences and restaurants have been popping up frequently.

Construction on the Freehand will begin in late 2015 with an anticipated opening in Summer 2016.

UPDATE: Ace Hotels sent us this note about the Sydell Group's role in the Ace New York:

The real estate developer and financier of Ace New York and Ace Palm Springs was GFI Dev Co., a partnership between Sydell Partners and Allen Gross. Andrew Zobler was the acting the CEO of GFI Dev Co. and led these real estate development efforts on behalf of GFI Dev Co and Sydell Partners. The Sydell Group which you reference in your article was developed later.

[Photo: Google Street View]

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