T
he Los Angeles City Planning Commission has approved a proposal by Sun Hill Properties to construct an additional 18 stories onto the existing Hilton Universal City hotel, located adjacent to Universal Studios Hollywood. The investor behind this project is Mark Davis, who is based in Studio City. If approved by the L.A. City Council, including a necessary zone change, construction of this expansion is expected to take approximately 30 months before the 2028 Olympics.
The proposed expansion includes a diamond-shaped footprint, similar to the original Hilton structure, and will feature a rooftop pool. The new tower will also have a parking garage capable of accommodating 460 cars, in addition to the existing 652-car garage beneath the older building.
The project was initially announced as a 15-story tower, but a redesign in 2018 pushed the height to 17 stories. In November of last year, Sun Hill revised its plan once again, this time to a total of 18 stories.
Sun Hill Properties, doing business as Hillcrest Real Estate, sought financial assistance from the City of Los Angeles for this hotel expansion project. It is unclear how much money or tax assistance Hillcrest is seeking or whether they have secured project financing. The cost of the hotel expansion was not disclosed.
realestate
Sun Hill Hotel Expansion: A New Era in Hospitality at Hilton Universal City
Mark Davis-led Studio City investor secures approval for an 18-story addition to Hilton Universal City hotel adjacent to Universal Studios Hollywood from Los Angeles City Planning.
Read More - realestate
realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.
Read More - realestate
realestate
Commercial Real Estate Forum Held by Southeastern Association
Sandoval Economic Alliance holds partner luncheon at Quezada's Comedy Club, focusing on commercial real estate.
Read More
realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.