South Park Car Wash Site May Go Hotel…

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According to the LA Business Journal, the car wash site at the corner of Figueroa & Olympic, across from LA Live, is being looked at by three different developers who are each considering the site for mixed-use hotel development.  The owner, Robert Bush, is reportedly asking for $25,000,000 for the site, which equates to $682 per square foot. 

The mixed-use project would most likely include a hotel, retail and condominium component.  Several new hotels have been announced in South Park, in anticipation of a new Farmers Field NFL stadium and Convention Center, proposed for the south western portion of LA Live.  New hotels include the double Marriott  which is located just east of the car wash site… along with the Wilshire Grand redevelopment, and the ACE hotel, located off Broadway.  There is also word that Chetrit Group may be reopening their Hotel Clark property as a boutique hotel, as well as the Trinity Auditorium site.

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About Jed Tarr
Founder of The Urban Observer, President of The Tarr Organization - Commercial Real Estate Development, Los Angeles

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