In 2016, plans were announced for the Park Hyatt Los Angeles, which was supposed to open in 2019. Unfortunately that’s not exactly how things have played out. Construction on the development started in 2015, and the project topped out in 2019, but unfortunately construction has been stalled ever since, as these towers have now been abandoned for seven years. Could there finally be a positive update, though?
One tower (49 floors) was supposed to have a 184-room Park Hyatt plus 164 serviced condo residences. Then the other two towers (40 floors) were supposed to include 340 residential condominiums, known as The Residences of Oceanwide Plaza. The development was also supposed to include 153,000 square feet of retail space, plus a 700-foot-tall LED display.
Within a few months liens were paid off, and construction resumed. However, months later, in late 2019, it once again stopped. Since then, nothing has happened, and the project has been stuck in limbo. This clearly seems to be part of a bigger issue with Chinese companies pulling back on real estate investments in the United States.
A great solo travel tip spotted this week on One Mile at a Time.
