December 12, 2017
Angels Landing Partners, LLC was chosen as the preferred development team to purchase and develop a 2.24-acre site in downtown Los Angeles by the City’s Chief Legislative Analyst. A JV between Peebles Corporation, MacFarlane Partners, and Claridge Properties proposes building Angels Landing, a 1.27-million-square-foot, mixed-use project encompassing an 88-story tower and 24-story tower at 361 South Hill St.
The roughly $1.2-billion development would consist of two hotels with 500 rooms, 400 units of multifamily, 250 condominiums, 50,000 square feet of restaurant and retail, a plaza and public terrace, and a K-5 public charter school. The JV would buy the property on the southern edge of Bunker Hill for $50 million.
Appraised in early 2017 for $45.7 million, the parcel is owned by the CRA/LA, but controlled by the city. Construction is anticipated to span 41 months and would deliver December 31, 2024. JLL handled the selection process.
For comments, questions or concerns, please contact Dennis Kaiser