Feasibility study for hotel project at LAX in Los Angeles, including market analysis, a relative order-of-magnitude (“ROM”) capital budget, facilities recommendations, and financial projections. Our financial projections included several scenarios to estimate varying potential operating results depending upon the build-out and facilities enhancement program at Los Angeles International Airport.
As hotel development consultants we provided a project feasibility report, including market analysis with financial projections, facility recommendations, and hotel franchise affiliation recommendations, for this (then) planned commercial hotel situated along Century Boulevard at the Los Angeles International (LAX) Airport.
The facility was eventually designed for 747 guest rooms within a 12-floor building envelope. An interesting aspect of the hotel feasibility analysis was identifying the facilities and amenities to attract business travelers to stay in the airport area rather than the extensive overnight accommodations available throughout Los Angeles.
Our work was prepared for Watt High-Rise, Inc., then an operating division of the Watt Companies. Inc. headquartered in Santa Monica, California. Watt Companies has developed a diversified portfolio of real estate properties, including commercial real estate, hotels, and master-planned communities.
The property opened as a Stouffer Hotel and was later re-flagged as The Westin Los Angeles Airport. Our work as development feasibility consultants in preparing the project feasibility study for this hotel project, was completed prior to the branding change from Stouffer branding to Westin.
City of Los Angeles CRA | As real estate project consultants to the Los Angeles Community Redevelopment Agency, StoneCreek Partners provided financial analysis and evaluation of illustrative deal structuring for various public-private intervention strategies to achieve the economic turnaround and urban revitalization of the Spring Street corridor in downtown Los Angeles. The redevelopment analysis included consideration of funded public subsidies, and transferred development rights.
Spring Street in downtown Los Angeles was once called “Wall Street of the West,” home to numerous major financial institutions, the old Pacific Stock Exchange, and many of the city’s finest office buildings dating back to the early days of downtown Los Angeles. A 1994 strategic plan for downtown called for a mix of public and private investment in retail, housing and commercial development.
Over the years, various efforts have sought to revitalize the Spring Street Corridor, including the successful opening of the Ronald Reagan State Building – at the corner of Spring Street and Third Street.