Sandstone’s bet on DTLA property near convention center gets Council boost (The Real Deal)

In October, Sandstone Properties acquired a 150,000-square-foot warehouse near the Los Angeles Convention Center in an area zone for industrial. But as Los Angeles continues to push for ever more hotel rooms Downtown, and following last month’s rollout of a $1.2 billion expansion and redevelopment plan for the convention center, Sandstone’s bet on that area may be paying off. Last week, Councilmember Gil Cedillo introduced a motion to rezone Westwood-based Sandstone’s 2.6-acre property for hotel development.

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