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| KB Urban co-develops luxury properties with AEG in Los Angeles KB Urban, the high-density, mixed-use subsidiary of KB Home, one of the nation's premier homebuilders and AEG, one of the leading sports and entertainment presenters in the world, announced an agreement with Marriott International, Inc., to open two luxury hotel properties and private residences at the L.A. Live sports and entertainment district currently under construction in downtown Los Angeles. Marriott Hotel Services, Inc., will be the exclusive hotel operator of the Los Angeles Marriott Marquis and The Ritz-Carlton Hotel Company, LLC, a wholly owned subsidiary of Marriott International, will manage The Ritz-Carlton Hotel, Los Angeles. KB Urban and AEG are co-developers of the approximately 2 million square foot property. Under the terms of the agreement, the complex will include the Los Angeles Marriott Marquis, an 876-room property, which will serve as the headquarters hotel of The Los Angeles Convention Center, and The Ritz-Carlton, Los Angeles, a 124-room boutique hotel. Above the hotels, and towering over the downtown Los Angeles skyline, will be approximately 216 residential condominiums developed by KB Urban known as The Residences at The Ritz-Carlton, Los Angeles. The sales center is scheduled to open in the first quarter of 2007. Opening dates for the properties are scheduled for 2010. write your comments about the article :: © 2006 Construction News :: home page |