Construction is in full swing for the Thompson Hotel in Hollywood, with an updated design and a new loan to boot.
Los Angeles-based developer Relevant Group has secured a $63-million loan from Calmwater Capital for continued construction of the project. This marks the second time the two companies have worked together, following Relevant's early repayment of a loan for the Dream Hotel, which opened in 2016.
The Thompson will contain 190 guest rooms in an 11-story building located at 1523 Wilcox Avenue - just one block north of Sunset Boulevard. The upscale hotel's amenities will include a fitness center, 3,000 square feet of meeting space, and a rooftop with a pool, restaurant, and bar.
The project is being designed by Steinberg Hart in association with SVCA. The interior spaces are being designed by Tara Bernerd & Partners.
Two Roads Hospitality will manage the hotel, as well as Relevant's upcoming Tommie Hotel, which is currently under construction nearby on Selma Avenue.
Construction on the Thompson Hotel is expected to finish in 2019.
Relevant Group has plans to continue expanding their Hollywood hotel district with an eight-story development at Selma & Wilcox.