American Life develops L.A. Marriott Downtown Los Angeles – schedule to open in spring of 2014.

Seattle, WA (April 2nd, 2011) – American Life Inc. will finance the purchase of 35,000 square feet of land and the construction of a brand new Marriott Hotel in downtown Los Angeles, California. The hotel development project delivers 180 Courtyard by Marriott® rooms and 197 Marriott Residence Inn® rooms. The Residence Inn® is designed for extended-stays, which includes full kitchen amenities and the flexibility of serving as business offices. GBD Architects of Portland will design the project, with interior design by Johnson Braund Design Group of Seattle. American Life's construction arm, Sodo Builders LLC, will be the general contractor.

Total cost of developing the project is $118 million dollars. Upon competition of the high-rise hotel, Courtyard Management Corporation will operate the Hotel.  

"The success of the Courtyard by Marriott project in downtown Seattle (opened in the summer of 2010) has provided a good road map for the new L.A. Marriott project." said Henry Liebman, President and CEO of American Life Inc.

The location of the Hotel is in a neighborhood commonly referred to as "LA Live," a world class entertainment campus in downtown Los Angeles which includes Staples Center (home of the LA Lakers, LA Clippers and LA Kings), the Nokia Theatre, the Grammy Museum, and numerous restaurants and clubs. The Hotel will be located across the street from an existing J.W. Marriott Hotel and Ritz Carlton Hotel, both of which are also managed by The Marriott Corporation. Additionally, the Hotel is located across the street from the Los Angeles Convention Center, which contributes a large number of annual group room nights to the Los Angeles hotel market. The Convention Center offers approximately 720,000 square feet of exhibit hall space and 150,000 square feet of meeting space split between its two main halls. The convention center's enclosed area makes it one of the largest meeting and convention facilities in the country.

Development information:

Land:

• Total area: 35,000 sq. ft./3,252 m²
• Closing on the property: October, 2011
• Start construction: March, 2012

Hotel:

• Grand opening: March, 2014
• Total building area: 300,000 sq. ft./27,871 m²
• Total sub-grade parking: 36,648 sq. ft./3,405 m²
• Courtyard guestrooms: 180 (traditional hotel rooms)
• Residence guestrooms: 197 (extended-stay rooms)
• Restaurant and bar: 140 seatsMeeting space: 5,500 sq. ft./511  m²
• Recreational facilities: Outdoor pool, whirlpool and fitness center
• Parking spaces: 70 plus leasing additionalRetail space: 7000 sq. ft./ 650 m²

American Life Inc. is a private real estate development and investment company. The company typically finance real estate project with 100% equity capital without leveraging debt. Source of capital generally comes from domestic investors as well as EB-5 immigrant investors. EB-5 visa investment allows a foreign national to obtain U.S. green card in 8 to 12 months after making the investment.

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