Chinese developer Oceanwide has named Park Hyatt as the partner for the residential component inside Oceanwide Plaza, a $1 billion mixed-use complex in Downtown Los Angeles. The developer is partnering with the hotel chain to build 164 luxury residential units in the complex. The residences will go on sale in early 2018, and guests will have access to the 184-room Park Hyatt Los Angeles as well as The Collection at Oceanwide Plaza.

“Since the conception of this project, we have been meticulous in aligning Oceanwide Plaza with the best-in-class brands and partners,” Thomas Feng, CEO of Oceanwide Plaza LLC, tells GlobeSt.com. “The Park Hyatt's five-star service, its unique level of exclusivity and personalization, matched with its masterful attention to design detail mirrors Oceanwide's approach to redefining urban living for Los Angeles' landmark downtown destination.”

Feng added that Park Hyatt was a good fit for the firm because both are embarking on new adventures. “This project is also one of firsts for both of our companies with Oceanwide Plaza representing Oceanwide Holding's first flagship real estate development in the United States, as well as representing Park Hyatt's first branded residences on the West Coast,” says Feng. “This synergy, along with having had prior collaborative efforts in China, quantified a partnership expansion to North America's West Coast. Together, we lead the momentum in Downtown Los Angeles' renaissance with the building of a never-before-seen paradigm in retail, luxury living and elevated offerings.”

The remainder of the highly anticipated $1 billion project will cater to a specific demographic of professionals with means. “We are reshaping the Los Angeles skyline and encompassing The Park Hyatt's 'home away from home' approach to luxury residential living,” says Feng. “Los Angeles is a city that holds endless possibility, and many people know it as the final stop on a journey of self-exploration. The Park Hyatt Los Angeles Residences responds to this sensibility by creating a space that is contemporary and curated in the details, delivering a never-before-seen personal approach to luxury.”

So far, the project has seen tremendous excitement and interest from the community. “There is such excitement in downtown Los Angeles right now—with so many renowned restaurants opening alongside established cultural institutions. The interest in this project has been strong. This is mostly due to that fact that an overwhelming amount of the new residential projects downtown are rental buildings,” John Pallante, senior project director at the Mark Co., tells GlobeSt.com. “Oceanwide Plaza is the only condominium project in Los Angeles to offer a multi-faceted living experience with a five-star Park Hyatt, a destination retail experience, and an over two-acre private amenity park and additional extensive amenity programming.”

Chinese developer Oceanwide has named Park Hyatt as the partner for the residential component inside Oceanwide Plaza, a $1 billion mixed-use complex in Downtown Los Angeles. The developer is partnering with the hotel chain to build 164 luxury residential units in the complex. The residences will go on sale in early 2018, and guests will have access to the 184-room Park Hyatt Los Angeles as well as The Collection at Oceanwide Plaza.

“Since the conception of this project, we have been meticulous in aligning Oceanwide Plaza with the best-in-class brands and partners,” Thomas Feng, CEO of Oceanwide Plaza LLC, tells GlobeSt.com. “The Park Hyatt's five-star service, its unique level of exclusivity and personalization, matched with its masterful attention to design detail mirrors Oceanwide's approach to redefining urban living for Los Angeles' landmark downtown destination.”

Feng added that Park Hyatt was a good fit for the firm because both are embarking on new adventures. “This project is also one of firsts for both of our companies with Oceanwide Plaza representing Oceanwide Holding's first flagship real estate development in the United States, as well as representing Park Hyatt's first branded residences on the West Coast,” says Feng. “This synergy, along with having had prior collaborative efforts in China, quantified a partnership expansion to North America's West Coast. Together, we lead the momentum in Downtown Los Angeles' renaissance with the building of a never-before-seen paradigm in retail, luxury living and elevated offerings.”

The remainder of the highly anticipated $1 billion project will cater to a specific demographic of professionals with means. “We are reshaping the Los Angeles skyline and encompassing The Park Hyatt's 'home away from home' approach to luxury residential living,” says Feng. “Los Angeles is a city that holds endless possibility, and many people know it as the final stop on a journey of self-exploration. The Park Hyatt Los Angeles Residences responds to this sensibility by creating a space that is contemporary and curated in the details, delivering a never-before-seen personal approach to luxury.”

So far, the project has seen tremendous excitement and interest from the community. “There is such excitement in downtown Los Angeles right now—with so many renowned restaurants opening alongside established cultural institutions. The interest in this project has been strong. This is mostly due to that fact that an overwhelming amount of the new residential projects downtown are rental buildings,” John Pallante, senior project director at the Mark Co., tells GlobeSt.com. “Oceanwide Plaza is the only condominium project in Los Angeles to offer a multi-faceted living experience with a five-star Park Hyatt, a destination retail experience, and an over two-acre private amenity park and additional extensive amenity programming.”