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However, if you encounter any difficulty in using our site, please contact us at We will work with you to ensure that you have full access to the information available to the public on our site. We strive to have a website that is accessible to individuals with disabilities. The Fig Project’s environmental impact report forecasts an 18-month build-out period, with completion in 2020.This website uses cookies so that we can remember you and understand how you and other visitors use this website, and in order improve the user experience.īy using this website, you consent to the use of cookies in accordance with the terms of our Privacy Notice. The complex would also have about 69,000 square feet of retail and restaurant space spread across the three buildings, about 20,000 square feet of creative office space, and a central seven-story parking structure. (Plans to include a tower in the development were scrapped last year.) We’re trying to be sensitive and we want to always achieve some balance,” he said.Īs proposed, the 4.4-acre development would replace eight, rent-controlled residential buildings and what appears to be three parking lots on a property bounded by the 110 Freeway, West 39th Street, Figueroa, and the Expo Park Plaza strip mall.Įach component of the project would be contained in its own seven-story building. But we also need to provide more affordable housing. “We certainly do need more hotel rooms as we are moving forward. Hotels near Exposition Park, Los Angeles, California Savings up to 60 Off Special Rates Available Call 85. “We’re always challenged trying to balance” different interests and uses, Price said. This proposal makes it clear that the beneficiaries are not current residents but wealthy visitors, the tourism industry, and real estate developers.”Ĭouncilmember Curren Price Jr., who put forth the motion, says this project attempts to balance the need for affordable housing with the need for hotel rooms. “We are not in a hotel development crisis.
“We are in a housing availability and affordability crisis,” one speaker told the economic development committee.
The motion noted the city’s need for hotel rooms to serve convention center, where an expansion is planned, as well as to serve tourists coming to the 2028 Olympics, the Lucas Museum of Narrative Art (set to open in 2021), and Los Angeles Football Club Stadium, which opened last month.īut opponents say there’s a pressing need now for housing that Angelenos can afford, pointing to the omnipresent homelessness crisis and the city’s housing crunch. The Fig Project would demolish 32 rent-controlled housing units, making way for 298 hotel rooms, 222 units of student housing, and 186 additional housing units-82 of which would be available to households making less than 80 percent of the area median income.īut the prospect of using city funds to help pay for the mixed-use project, has drawn ire from activists who say demolishing rent-controlled units at a time when residents are struggling to afford their rent is counterproductive. Recently, the city has given incentives to the convention center-adjacent Fig+Pico project, in the form of $103.3 million worth of tax rebates, and it gave $61 million in tax breaks to the developers of the Wilshire Grand skyscraper in Downtown The developer, Ventus Group (formerly Spectrum Group Real Estate), will give the city $150,000 to pay the consultant’s fees. The Los Angeles City Council’s economic development committee approved a motion Tuesday that allows the city’s chief legislative analyst’s office to hire consultants to study the project and recommend incentives that would be most helpful to the development. A city committee is moving forward with a plan to give taxpayer incentives to a developer that plans to build a hotel and housing complex just east of Exposition Park.
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