Award
Hotel & Residences at L.A. Live Named Downtown L.A.’s Project of the Year
February 23, 2011
The Hotel & Residences at L.A. Live – downtown Los Angeles’s newest landmark – has been named 2010 Project of the Year by Los Angeles Downtown News.
The award was presented at the publication’s 10th Annual Downtowners of Distinction ceremony to honor development projects, new restaurants and other efforts that benefit downtown Los Angeles.
The 54-story Hotel & Residences at L.A. Live serves as the cornerstone of L.A. Live, a sports, residential and entertainment district developed by AEG on land adjacent to the Staples Center and the L.A. Convention Center. It houses an 878-room JW Marriott, a 123-room Ritz-Carlton Hotel, and 224 Ritz-Carlton Residences residential condominiums. The two hotels opened in 2010, while the condominiums were completed early in 2011.
MacFarlane Partners invested in the development of the Hotel & Residences at L.A. Live through a joint venture with AEG, which is one of the world’s leading sports and entertainment presenters. The firm made the investment on behalf of MacFarlane Urban Real Estate Fund II, its institutional real estate fund that invests in development, redevelopment and repositioning projects in urban and high-density suburban areas nationwide.
Since plans to develop the Hotel & Residences at L.A. Live were announced in 2007, the project has garnered a number of awards and accolades, including “Best New Community” by Luxury Real Estate, the Americas Lodging Investment Summit’s “2010 Development of the Year,” and “2007 Development of the Year” by Real Estate Forum.
In addition, the entire L.A. Live development last fall received the Urban Land Institute’s prestigious Global Award for Excellence, one of only five development projects in the world to earn such honors in 2010.
Click here to read the article by Downtown Los Angeles News that was published on February 23, 2011.
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