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Last time we checked in on the now named "Wilshire Grand Project" back in May, Korean Air had already ditched its two-tower plan (a 60-story office tower and a 40-story hotel to be completed in 2014) in favor of a 73-story skyscraper.
We dished that the billion-dollar building would be just a tick shorter than the existing U.S. Bank Tower, but according to new reports, it will include a spire at the top that puts the total height at 1,100 feet, making it the tallest in the city, about 80 feet above the U.S. Bank Tower.
While a management brand still has yet to be announced, we now know that the L.A.-based architecture firm AC Martin Partners will design the project. Its resume includes Los Angeles City Hall and Bank of America Plaza and construction should begin later this year. Korean Air has maintained hope the hotel will open four years from now in March 2017.
It won't open until sometime in 2017 but when it does, the billion-dollar luxury hotel from Korean Air will include a sky lobby at the top of the building on the 70th floor.
The hotel, which will be constructed in downtown LA at Wilshire Boulevard and Figueroa Street on the site of the old Wilshire Grand Hotel, is hoping to be the second-tallest building in Southern California, just shorter than the US Bank Tower. And these days, where there's a tall-ass building there's also plans for a restaurant, bar and death-defying infinity swimming pool, according to the LA Times. (Shops, more restaurants, retail and office space will take up the lowers floors of the hotel.)
Contrary to the prevailing wisdom of the moment, real estate development firm Thomas Property Group, in partnership with Korean Air, has plans to build a new billion-dollar 60-story hotel and condo tower in downtown Los Angeles, where the Wilshire Grand Hotel now stands. The complex would include office space, and an 18,000-square-foot public park.
The building would also be the city’s first new high rise in about 20 years, and Thomas Group Chairman James A. Thomas says that it will satisfy future demand for new office space once Los Angeles bucks the recession. Those Angelenos, always so optimistic.