Lizard Capital CEO Bingyi Huang and a rendering of the Spring Street Hotel
Developer Lizard Capital has a start date for its controversial, long-planned and highly stylized 28-story hotel tower in Downtown Los Angeles.
The Spring Street Hotel will begin work next spring, according to Adam Sokol Architecture Practice, Urbanize reported. The tower is set to replace a parking lot at 633 S. Spring Street. Work is expected to be completed by 2022.
The hotel will have 170 rooms, around 7,000 square feet of ground floor restaurant space, a gym, rooftop bar, and screening room among other amenities. The architecturally unusual building has an upper façade of cutouts and angles working toward a peak that resembles cut stone. The lower 10 or so floors feature straight, modern lines.
Beijing-based Lizard Capital was slowed by a December appeal, filed by hotel labor group UNITE HERE Local 11. The dispute was settled in January, which cleared the way for the project.
The settlement includes an agreement that the city fund streetscape improvements along Spring Street in exchange for transferring 50,000 square feet of floor area for the project.
Lizard is also working on a 178-unit mixed-use rental project in L.A. called Lava House. [Urbanize] — Dennis Lynch