Nitin Patel has designs on cashing in on Los Angeles’ hotel boom, with a 89-key proposed project in North Hollywood.
According to plans filed with the Los Angeles city planning department, Patel wants to turn a 31,000-square-foot site — located at 6439-6449 N. Lankershim Blvd. and 11713-11721 W. Gilmore St. in North Hollywood — into a hotel compete with a pool, fitness room, restaurant and lounge.
The site is currently surrounded with a chain-linked fence and occupied by a large parking lot and a vacant Mexican restaurant. It is located next to the Mountain View apartment complex on Gilmore Street.
Patel, operating through NoHo Land LLC, picked up the property, located a block north of Victory Boulevard, for $2 million in 2014. Representatives for NoHo Land and its design partner Apex Designs could not be reached for comment.
As of June of last year, Los Angeles County had 45 hotels in construction, with another 260 hotels in the planning stages.
One of the largest projects under construction is Fig + Pico, a 744-room hotel developed by Lightstone Group near the L.A. convention center.
The post LA’s hotel boom continues with proposed 89-key development in North Hollywood appeared first on The Real Deal Los Angeles.
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