LOS ANGELES-A partnership led by Williams/Dame and Associates of Portland, OR plans to develop a 377-droom, 22-story hotel tower, adjacent to L.A. LIVE, which will house two Marriott International hotel brands: Courtyard by Marriott and Residence Inn by Marriott. The development partnership also includes Seattle-based American Life Inc., Regional Center Management Los Angeles, and Nomad Ventures LLC of Portland, OR.

The development site is at the northwest corner of Olympic Boulevard and Francisco Street, on an entitled site the developers have agreed to purchase from AEG. Equity funding will be provided through the EB-5 Investor Green Card Program, which enables foreign nationals who invest in the US to obtain green cards.

Williams/Dame is the firm behind the South Park residential towers in Los Angeles (EVO, Luma, and Elleven); American Life is an investment firm that specializes in EB-5 equity funding, along with Regional Center Management Los Angeles, the U.S. Citizenship and Immigration Services approved EB-5 Regional Center for Los Angeles and Hollywood; and commercial real estate firm Nomad Ventures LLC.

Construction on the 300,000 square-foot building is expected to begin in March 2012, with the opening slated for March 2014. The new hotel will be managed by Marriott International.

The new Courtyard by Marriott and Residence Inn by Marriott will be directly across the street from the existing JW Marriott Los Angeles, L.A. LIVE and the Ritz-Carlton, Los Angeles, hotels. The new project will be designed to take advantage of existing amenities at the hotels, as well as L.A. LIVE.

The L.A. LIVE district includes attractions such as: the Staples Center, home of the Los Angeles Lakers, Los Angeles Clippers and Los Angeles Kings; the Nokia Theatre L.A. LIVE; the Grammy Museum; the Los Angeles Convention Center and numerous residential condominiums; the Regal Cinemas L.A. Live Stadium 14 theatres, restaurants and night clubs.