Trump to Reveal Plans for Ambassador Site
Flamboyant East Coast builder Donald J. Trump is expected to announce today that he is teaming up with U.S. and European investors to develop the site of the historic Ambassador Hotel.
Trump has scheduled a press conference this morning at the hotel, at which his plans are expected to be discussed, sources said. Mayor Tom Bradley and City Councilman Nate Holden, whose district includes the hotel, are also supposed to attend.
Holden confirmed Friday that Trump and the other investors have entered into an agreement to develop the site, located on nearly 24 acres in Los Angeles’ mid-Wilshire area. Preliminary plans call for a mixed-use development, but Holden said he was unsure of specifics.
Holden said that while he welcomes Trump’s interest in Los Angeles, he will not necessarily support any plan the developer comes up with. Bill Chandler, Bradley’s press secretary, indicated that the mayor would react to Trump’s plan when he finds out exactly what it entails.
Joint public appearances by Bradley and Holden are rare, and each was unaware Friday that the other was planning to attend. Bradley and Holden have been at odds on a range of issues and have had a poor relationship, especially since Holden ran against Bradley for mayor last spring.
Word of Trump’s involvement with the Ambassador first surfaced a month ago, but the builder declined to confirm news reports at the time. Since then, unconfirmed rumors have swirled throughout real estate circles that Trump had suggested building an office tower of more than 100 stories.
Neither Trump nor his new partners could be reached for comment. Trump was said to be on his way to Los Angeles on Friday with his wife.
The Ambassador closed in January, 1989, after years of heavy losses. The hotel opened in 1921 and in its early years was a glittering gathering spot for movie stars, business tycoons and politicians. But its glory days ended decades ago, and it hit lows in 1968 when Robert F. Kennedy was assassinated there after a political rally.
The hotel property is now owned by Wilshire Center Partners, who bought the site last summer for $64 million. The investors in Wilshire Center Partners, who are teaming up with Trump, include Scott Malkin, whose family owns an interest in the Empire State Building, and Robin Power, a real estate developer from Ireland.
A spokeswoman for the investors said only that the group has plans for a “mixed-use” development. “Whether a hotel is part of the plan has not yet been determined,” she said.
Urban Innovations Group, an affiliate of UCLA’s Graduate School of Architecture and Urban Planning, recommended last year that the site is best suited for a combination housing, hotel and office building.
Bruce Dworshak, director of a mid-Wilshire redevelopment group known as the Wilshire Stakeholders Group, said Friday that the new owners have assured local businessmen that they “would follow” the recommendations of the Urban Innovations Group.
One group that wants to preserve the hotel as part of any redevelopment is the Los Angeles Conservancy. The Los Angeles Unified School District also wants the site for a 2,000-student high school.
Jay Rounds, executive director of the conservancy, said he had seen some preliminary plans for the site that did not include the preservation of “any historic buildings.” He declined to be more specific.
Trump’s previous developments have changed the faces of New York City, where his high-profile projects now dot Manhattan, and Atlantic City, where he owns two casino hotels and is building a third. His net worth is said to exceed $1 billion.
Trump is known for a contentious and imperious business style that has made him enemies galore, but he is also credited with rejuvenating areas of New York City that had gone to seed.
His first major project in Manhattan was the purchase of the Commodore Hotel, located next to Grand Central Station. He renovated the hotel, encased it in green glass and opened it as a Hyatt in 1980. The hotel is now cited as one example of New York’s rejuvenation.
The Mid-Wilshire business district of Los Angeles has long been overshadowed as a center of commerce by downtown Los Angeles and business districts further west on Wilshire Blvd. The area has no easy freeway access, making it difficult to reach, but it has also been buoyed recently by investment from South Korea and a boom in apartment construction.
