The foundation that operates the 118-year-old Angels Flight funicular in the Bunker Hill area announced its support Wednesday for the nearby Angels Landing development complex to consist of two high-rise towers that will each hold a five-star hotel.
“We support the Angels Landing project and urge the city to approve it. The Angels Flight Railway Foundation will be a next-door neighbor to the project which will provide certain community benefits to the railway, including being respectful of vistas of the railway from multiple points on and around the project,” Angels Flight Railway Foundation President Hal Bastian said in a letter to the Los Angeles Department of City Planning.
The towers are set to be developed on the vacant lot that was formerly Angel Knoll Park. Originally planned as one 88-story skyscraper and one 24-story high-rise, the buildings, designed by Handel Architects, are set to be 64 stories and 42 stories tall.
Aside from two luxury hotels, the towers would have apartment units and a plaza that the developer describes as “an expansive, pedestrian-centered, transit-adjacent, modern urban park in the heart of downtown L.A.”
The site is near Pershing Square Station and the area is serviced by the Metro B (Red) and D (Purple) lines.
Victor MacFarlane and R. Donahue Peebles, principals of Angels Landing Partners, LLC, issued a statement saying they “are grateful to have the strong support for our Angels Landing hotel development project by the Angels Flight Railway Foundation Board of Directors, leadership and members.”
“We believe the anticipated flow of Angels Landing’s hotel guests and Angels Landing Plaza’s visitors will be of benefit to the railway’s daily operations. We’re pleased the Angels Flight Railway Foundation shares our belief.”
The developers cited an analysis by BJH Advisors, LLC that said the project’s design and construction would create 8,300 jobs, and another estimate that found it would create about 800 permanent jobs in downtown Los Angeles.
The analysis found that the project would boost L.A.’s local economy by $1.6 billion and contribute about $731 million to local workers’ earnings during the project’s construction, and that the project would generate about $12 million in recurring tax revenues and $2.4 million in local property tax revenues annually.
Fred MacFarlane, a representative for the developers, told City News Service that the team expects the project to go before the Los Angeles City Council for approval later this year. The project’s Environmental Impact Report is nearing its final stage, and the public comment period concluded this month.
MacFarlane said the project received six comments in total and none of them were negative.
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