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March 28, 2024
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LOS ANGELES COUNTY NEWS
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Hollywood Roosevelt Hotel Owner Teams Up in Venture to Redevelop Park Paza Hotel in Downtown LA

1/12/15

An investment entity that owns the Hollywood Roosevelt Hotel has entered into a joint venture agreement to redevelop the Park Plaza Hotel, located at 607 S. Park View St in downtown Los Angeles. The venture is between DCGG Park Plaza and the property’s current owners, Wilshire Park Plaza LLC.

The Park Plaza, built in 1925, was designed in Neo-Gothic style by renowned art deco architect Claud Beelman. The building was originally designed to house the Elks Lodge #99 and still has a brass sculpture of elk antlers embedded in the clock above the grand entry to the building today. As part of the property’s illustrious history, the indoor pool was used to host the swimming events for the 1932 Summer Olympic Games.

However, due to low memberships, the property was later sold and was transformed into a luxury hotel. In the early 1980’s the Los Angeles Cultural Affairs Department proclaimed the design and architecture as significantly important to declare it as Historic-Cultural Monument No. 267. Currently, the building is vacant and is mainly used for movie shoots and special events.

Tom Nguyen with the Orange County office of NAI Capital represented DCGG Park Plaza LLC in the deal. Nguyen points out that similar to the Hollywood Roosevelt Hotel, the Park Plaza Hotel has a rich history and spectacular interior architecture that are unique to historic landmark buildings.





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